Mobile Refrigerator Market

Global Market Study on Mobile Refrigerators: Steady Increase in Online Sales being Witnessed

Market Snapshot

The mobile refrigerator market is witnessing steady growth with worldwide revenue up 6.4% year-on-year in 2021. Revenue from the sales of mobile refrigerators across the world will nearly double over the next ten years, topping US$ 2.9 Bn by 2031. East Asia will be a lucrative market for manufacturers, rising at around 15.6% CAGR and capturing more than 14% share of the global market.

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Companies

  • Indel B
  • Dometic
  • Electrolux AG
  • Siemens
  • Engel
  • Kickass
  • ARB
  • EvaKool
  • Tropicool
  • Triton Mechanical
  • ICECO
  • Aspenora
  • Alpicool
  • Mobicool
  • Bouge-RV
  • Whynter

Mobile Refrigerator Industry Survey Also Addresses:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Mobile Refrigerator Sales and How to Navigate
  • Recommendation on Key Winning Strategies

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Sales Analysis of Mobile Refrigerators from 2016 to 2020 Vs Market Outlook for 2021 to 2031

From 2016 to 2020, sales of mobile refrigerators increased at around 4.9% CAGR, wherein, the U.S., Canada, Germany, and U.K. held significant share in the global market. Over the decade, East Asia is likely to be the largest portable refrigerator market with the fastest market growth.

Mobile refrigeration is a concept built around providing refrigerator and freezer capacity in a portable format. There are different types of mobile refrigerators used in residential and commercial places, such as in automobiles, chemical supply & manufacturing, wine storage, inventory overflow storage, medical, biomedical & pharmaceuticals, hotels, and restaurants & caterers.

They're also used in the hospitality industry to keep beverages and food cool, and they've become popular in modern offices as a way to save space. Recreational vehicles, mobile home ideas, and compact residences all have a significant demand for these products.

Evolving customer desire for energy-efficient and economical refrigeration for outdoor activities is likely drive demand for mobile refrigerators. Demand for mobile refrigerators could be boosted by a growing travel and tourism industry.

Furthermore, governments are coming up with new policies in order to minimize the energy consumption of appliances. These policies support the consumption and manufacturing of energy-efficient electronic appliances, contributing to environmental sustainability. This, in turn, will fuel demand for energy-efficient cold storage devices.

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What Trends are Reshaping the Market for Mobile Refrigerators?

A number of major companies are investing massively in research & development activities to come up with more sustainable and greener options. As a result, conventional refrigerators that use hydro-chlorofluorocarbons (HCFCs) and chlorofluorocarbons (CFCs) have raised some serious environmental concerns, and they are being replaced by thermoelectric refrigeration (TER) technology.

Mobile refrigerators are a great way to keep items cool without the expense and energy consumption of regular-sized refrigerators, resulting in increased demand for the product. In addition, attractive features such as genuine secop compressors, recessed power input panels, electronic thermostats with digital display, soft-touch control, and heavy-duty magnetized covers are being introduced to lure new customers.

Use of a digital compressors allows for efficient consumption of electrical power, while an integrated battery monitor protects the unit against battery failure; these product features are gaining traction in the market.

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Will Growing Popularity of Prefabricated Homes & Tiny Homes Drive Demand for Mobile Refrigerators?

Need for affordable homes for people who need to move frequently has spurred demand for mobile refrigerators. Increasing trend of making customized manufactured and modular homes has spurred growth of mobile prefabricated homes, which has directly augmented demand for mobile refrigerators.

Moreover, mobile homes are gaining traction among consumers as they produce less waste, since they are made in climate-controlled home building facilities. As a result, growing use of micro and mobile homes is attracting people toward convenient home appliances that are compact and represent luxury, thus fueling the market.

mobile-refrigerator-market

Which Region Offers the Largest Opportunity for Sales of Mobile Refrigerators?

With an absolute dollar opportunity of around US$ 552 Mn, North America is expected to be the most lucrative market for mobile refrigerator players. Increased participation of millennials in outdoor recreational activities along with strong foothold of the hospitality sector, including hotels, is expected to remain a key factor in driving demand for mobile refrigerators in North America.

Country-wise Analysis

Will China’s Regional Brands Maintain their Dominance in the Market?

The market in China grew 12.5% from 2016 to 2031. In its war against COVID-19, China has been increasingly relying on cutting-edge technology.

White goods and small appliances are in high demand in the Chinese market. Consumer brand awareness is increasing in the electronic appliance industry, with greater emphasis on design and feature functions, while price sensitivity is decreasing. As people become more environmentally concerned, demand for energy-efficient and ecologically friendly products is increasing.

In 2021 ICECO launched its JP60Pro multifunctional portable fridge, freezer, and cooler that comes with detachable wheels, a cutting board connected to the fridge to slice fruits and vegetables while camping, bottle opener/fish measuring ruler, and built-in water release.

Such high-feature fridges are anticipated to attract customers who love camping. As a result, China will continue to be a lucrative market for mobile refrigerators in East Asia.

Are Mobile Refrigerators Attracting the Attention of Indian Consumers?

In 2020, India accounted for 31.8% share of mobile refrigerator demand in South Asia, and is expected to grow at a rapid rate. Major players are suppressing costs and introducing new models with sophisticated features and fresh designs.

Consumers have been increasingly concerned about food spoiling as a result of the hot and humid weather, resulting in the need for efficient refrigerators. Refrigerators are popular among consumers because they provide convenience, reduce manual labour, and save time.

Consumers are upgrading their present appliances to advanced and smarter ones due to rising spending power, higher living standards, and the need for comfort, which is likely to increase market value in the country.

Category-wise Insights

Which Mobile Refrigerator Category Dominates the Market?

In terms of product and value, built-in refrigerators currently account for a significant market share of around 61.8%.

Built-in refrigerators are high-end appliances that provide superior inside visibility over standard free-standing refrigerators. They come in a range of widths, allowing users to maximise refrigerator space and customise the kitchen.

Which Sector Holds Lucrative Avenues for Mobile Refrigerator Manufacturers?

Currently, the commercial sector is the largest user of mobile refrigerators, and is set to hold around 62.4% market share in 2031.

Medical and hospitality industries have experienced rapid growth, which has resulted in increased usage of refrigerators in both these industries. Due to their versatility to fit nearly anywhere and lower power usage than traditional refrigerators, these have also become a popular alternative in modern offices and transport trucks.

Will Online Retailing become the Most Prominent Sales Channel for Mobile Refrigerators?

As per market analysis, online retailing is expected to dominate at a highest CAGR of 12.2%.

Consumer preferences have shifted as a result of the COVID-19 pandemic, and instead of buying offline, they are migrating to online retailing, which is driving players to expand their online presence in the market.

One of the major elements driving the growth of online sales channels is the availability of a wide range of mobile refrigerators such as Electric iCooler and WI-FI enabled portable fridges.

How Has COVID-19 Affected Sales of Mobile Refrigerators?

The ongoing COVID-19 pandemic has affected the global economy in various ways. It had serious implications for most manufacturers of mobile refrigerators in the form of supple chain disruptions. The crisis has decreased the purchasing capacity of consumers.

Also, limited availability of raw materials, shortage of labor, and limited availability of components have drastically impacted market growth. Besides this, the outbreak of COVID-19 has further resulted in a drastic change in consumer buying behavior. Shift in consumer spending from non-essential to essential products further impacted sales in the initial period of the outbreak, posing numerous challenges on the sales front.

Competitive Landscape

Majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.

Some of the key developments are:

  • In 2019, WHYNTER LLC launched various new products such as the freestanding 120 can beverage refrigerator (BR-130SB).
  • Guangzhou Boju Technology Co., Limited, in 2020, launched its DIRT CHEAP BougeRV 53qt 12v Compressor Fridge Freezer Refrigerator. The company even started offering custom products that can be altered based on customer needs and requirements, including better build quality, features, space, etc.

Similarly, recent developments related to companies manufacturing mobile refrigerators have been tracked by the team at Persistence Market Research, which are available in the full report.

Mobile Refrigerator Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • MEA
  • East Asia
  • South Asia
  • Oceania

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Benelux
  • Russia
  • Turkey
  • Northern Africa
  • South Africa
  • GCC Countries
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Thailand
  • Australia and New Zealand

Key Market Segments Covered

  • Product Type
  • Technology
  • Application
  • Build
  • Capacity
  • Price Range
  • Sales Channel
  • Region

Key Companies Profiled

  • Indel B S.p.a
  • Dometic Group AB
  • AB Electrolux
  • Siemens AG
  • Evakool
  • Engel Australia Pty Ltd
  • Kickass Products Pty Ltd
  • ARB
  • Tropicool Car Gadgets Pvt. Ltd
  • Triton Mechanical
  • ICECO
  • Aspenora
  • Alpicool Inc.
  • Guangzhou Boju Technology Co., Limited
  • WHYNTER LLC

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Key Segments Covered in Mobile Refrigerator Industry Research

By Product Type

  • Portable Refrigerators
  • Built-in Refrigerators

By Technology

  • Compressor Technology
  • Absorption Technology
  • Thermoelectric Technology

By Application

  • Residential Mobile Refrigerators
  • Commercial Mobile Refrigerators
    • Vehicle Mobile Refrigerators
      • Recreational Vehicles
      • Commercial Vehicles
      • Passenger Vehicles
    • Mobile Refrigerators for Retail and Specialty Stores
    • Mobile Refrigerators for Food and Beverages Processing
    • Mobile Refrigerators for Hotel and Restaurants
    • Others

By Build

  • Chest Style Mobile Refrigerators
  • Upright Mobile Refrigerators

By Capacity Type

  • Below 50 Litres Mobile Refrigerators
  • 50-100 Litres Mobile Refrigerators
  • Above 100 Litres Mobile Refrigerators

By Price Range

  • Economy Mobile Refrigerators
  • Mid-range Mobile Refrigerators
  • Premium Mobile Refrigerators

By Sales Channel

  • Mobile Refrigerators Sold by Wholesalers/ Distributors
  • Mobile Refrigerators Sold by Hypermarkets/Supermarkets
  • Mobile Refrigerators Sold by Online Retailers
  • Mobile Refrigerators Sold by Multi-brand Stores
  • Mobile Refrigerators Sold by Specialty Stores
  • Mobile Refrigerators Sold by Independent Small Stores
  • Others

FAQs Answered in Study

  • How much is the global mobile refrigerators market valued at currently?

    The global mobile refrigerators market is currently valued at close to US$ 1.3 Bn.

  • At what CAGR did sales of mobile refrigerators increase over the past 5 years?

    From 2016 to 2020, demand for mobile refrigerators increased at a CAGR of 4.9%.

  • What will be the demand outlook for mobile refrigerators through 2031?

    Sales of mobile refrigerators are projected to increase at 8.3% CAGR and be valued at US$ 2.9 Bn by 2031.

  • What are the key trends being witnessed in this marketplace?

    Space constraints, especially in mobile homes and while camping, are factors driving sales of mobile refrigerators.

  • What is the market share of the top 5 manufacturers of mobile refrigerators?

    Top 5 manufacturers of mobile refrigerators account for around 41% market share.

  • At what rate is the market registering growth in Europe?

    The market for mobile refrigerators in Europe is progressing at around 4.7% CAGR.

  • Which are the top 5 countries driving most of the demand for mobile refrigerators?

    The U.S., Germany, India, China, and Australia are the major demand centers for mobile refrigerators.

  • Which countries are the key producers of mobile refrigerators?

    China, Germany, Australia, and Sweden are key producers of mobile refrigerators.

  • How is the mobile refrigerators market faring in Japan and South Korea?

    Japan and South Korea are expected to hold 33% and 25% share, respectively in the East Asia market.

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