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Global Minibar Refrigerators Market Size, Share & Industry Trends Analysis Report By End-use, By Technology (Absorption, Thermoelectric/ Peltier and Compression), By Regional Outlook and Forecast, 2023 - 2030

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    Report

  • October 2023
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5935322
Description Jump to:
The Global Minibar Refrigerators Market size is expected to reach $427.2 million by 2030, rising at a market growth of 3.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,964.9 thousand units, experiencing a growth of 4.0% (2019-2022).

Cruise ships often stock minibar refrigerators with complimentary or chargeable beverages, including water, soft drinks, and alcoholic beverages. Consequently, the Cruise ships segment acquired $16,706.4 thousand revenue in the market in 2022. Minibar refrigerators in cruise ship cabins allow passengers to store their beverages, snacks, and personal items in a cool environment. This adds to the comfort of their cabins and enables them to enjoy refreshments at any time without visiting public dining areas. Cruise ships often stock minibar refrigerators with complimentary or chargeable beverages, including water, soft drinks, and alcoholic beverages. Passengers can enjoy these beverages in the privacy of their cabins. Some of the factors impacting the market are growing hospitality industry expansion, rising urbanization and apartment living and high competition of minibar refrigerators.



As the hospitality industry expands, new hotels and accommodations are being built to meet the growing demand from travelers. Many new properties incorporate minibar refrigerators as a standard amenity in guest rooms. This has led to a higher volume of minibar refrigerator installations. Existing hotels and resorts often renovate and upgrade to stay competitive and meet modern traveler expectations. Minibar refrigerators contribute to this by offering guests the convenience of storing and accessing beverages and snacks in the comfort of their rooms, enhancing their overall stay. Apartments in urban areas often have smaller kitchens or kitchenettes compared to suburban or rural homes. Residents may not easily access large grocery stores in densely populated urban areas. Minibar refrigerators enable them to store various foods and beverages, reducing the need for frequent grocery trips. Apartment dwellers often value the independence to prepare and store their meals. The compact size, convenience, and versatility of minibar refrigerators make them popular for urban residents and those living in apartments. As urbanization continues and more people choose apartment living, the market for minibar refrigerators is expected to grow.

However, Intense competition can lead to price wars as manufacturers and retailers try to undercut each other's prices to gain market share. This can result in lower earnings margins for businesses, making investing in research and development or maintaining product quality challenging. In order to stand out in a crowded market, manufacturers must invest in product differentiation through features, design, and technology. This requires ongoing innovation and may entail higher development costs. In mature markets, the market can become saturated, making it difficult for new entrants to gain a foothold. Understanding and predicting consumer behavior in a competitive market is challenging. Changes in consumer preferences, buying patterns, or economic conditions can affect demand unpredictably. These aspects will pose the market growth in the coming years.

Technology Outlook

On the basis of technology, the market is segmented into absorption, thermoelectric/peltier, and compression. In 2022, the absorption segment dominated the market with the maximum revenue share. This can be attributed to factors emphasizing energy efficiency, quiet operation, and technological innovation. Absorption technology, which relies on a heat-driven process to cool the refrigerator rather than a traditional compressor-based system, has gained significant traction due to its unique advantages. One key driver is the growing global emphasis on sustainability and energy conservation. Absorption technology minimizes electricity consumption, making it an attractive choice for eco-conscious consumers and businesses aiming to decrease their energy costs and carbon footprint.



End-use Outlook

Based on end-use, the market is fragmented into transportation, hospitality, offices, household, and others. The transportation segment garnered a significant revenue share in the market in 2022. Minibar refrigerators can be integrated into small trucks, vans, or delivery vehicles to transport perishable goods such as food, beverages, pharmaceuticals, or medical specimens. These compact refrigerators are strategically placed within the aircraft's cabin for passengers and flight attendants to quickly access. In some public vehicles, minibar refrigerators may be installed to offer passengers cold drinks and snacks during their journey. This is more common in certain luxury or long-distance bus and train services.

Regional Outlook

Region-wise, the market is North America, Europe, Asia Pacific, and LAMEA. In 2022, the Europe region generated the largest revenue share in the market. European consumers increasingly seek devices that offer convenience, energy efficiency, and connectivity features. For instance, in April 2021, Dometic, a Swedish manufacturer of mobile solutions and refrigerators, introduced its HiPro line of minibars. The redesigned minibar improves cooling performance while consuming 40% less power, decreasing operational costs for hotel owners. The modular line offers a range of options: minibars with stainless steel, black mirror glass, or transparent doors; three refrigeration technologies; and a connectivity system with smart remote-controlled features.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dometic Group AB, Felix Storch Inc., Minibar Systems, Indel B Group, Hisense International Co., Ltd., Omnitec Systems S.L., Royal Minibars, Tefcold A/S (Lindblad Group ApS), Koolatron Corporation and Bartech Systems international Inc.

Scope of the Study

Market Segments Covered in the Report:

By End-use (Volume, Thousand Unit, USD Million, 2019-30)
  • Hospitality
  • Transportation
  • Marines
  • Cruise Ships
  • Campervans/RVs
  • Others
  • Offices
  • Household
  • Others
By Technology (Volume, Thousand Unit, USD Million, 2019-30)
  • Absorption
  • Thermoelectric/ Peltier
  • Compression
By Geography (Volume, Thousand Unit, USD Million, 2019-30)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America- Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe- Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific- LAMEA
  • Brazil
  • Argentina
  • UAE
  • Egypt
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Dometic Group AB
  • Felix Storch Inc.
  • Minibar Systems
  • Indel B Group
  • Hisense International Co., Ltd.
  • Omnitec Systems S.L.
  • Royal Minibars
  • Tefcold A/S (Lindblad Group ApS)
  • Koolatron Corporation
  • Bartech Systems international Inc.

Unique Offerings

  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Minibar Refrigerators Market, by End-use
1.4.2 Global Minibar Refrigerators Market, by Technology
1.4.3 Global Minibar Refrigerators Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter Five Forces Analysis
Chapter 4. Global Minibar Refrigerators Market, by End-use
4.1 Global Hospitality Market, by Region
4.2 Global Transportation Market, by Region
4.3 Global Minibar Refrigerators Market, by Transportation Type
4.3.1 Global Marines Market, by Region
4.3.2 Global Cruise Ships Market, by Region
4.3.3 Global Campervans/RVs Market, by Region
4.3.4 Global Others Market, by Region
4.4 Global Offices Market, by Region
4.5 Global Household Market, by Region
4.6 Global Others Market, by Region
Chapter 5. Global Minibar Refrigerators Market, by Technology
5.1 Global Absorption Market, by Region
5.2 Global Thermoelectric/ Peltier Market, by Region
5.3 Global Compression Market, by Region
Chapter 6. Global Minibar Refrigerators Market, by Region
6.1 North America Minibar Refrigerators Market
6.1.1 North America Minibar Refrigerators Market, by End-use
6.1.1.1 North America Hospitality Market, by Country
6.1.1.2 North America Transportation Market, by Country
6.1.1.3 North America Minibar Refrigerators Market, by Transportation Type
6.1.1.3.1 North America Marines Market, by Country
6.1.1.3.2 North America Cruise Ships Market, by Country
6.1.1.3.3 North America Campervans/RVs Market, by Country
6.1.1.3.4 North America Others Market, by Country
6.1.1.4 North America Offices Market, by Country
6.1.1.5 North America Household Market, by Country
6.1.1.6 North America Others Market, by Country
6.1.2 North America Minibar Refrigerators Market, by Technology
6.1.2.1 North America Absorption Market, by Country
6.1.2.2 North America Thermoelectric/ Peltier Market, by Country
6.1.2.3 North America Compression Market, by Country
6.1.3 North America Minibar Refrigerators Market, by Country
6.1.3.1 US Minibar Refrigerators Market
6.1.3.1.1 US Minibar Refrigerators Market, by End-use
6.1.3.1.2 US Minibar Refrigerators Market, by Technology
6.1.3.2 Canada Minibar Refrigerators Market
6.1.3.2.1 Canada Minibar Refrigerators Market, by End-use
6.1.3.2.2 Canada Minibar Refrigerators Market, by Technology
6.1.3.3 Mexico Minibar Refrigerators Market
6.1.3.3.1 Mexico Minibar Refrigerators Market, by End-use
6.1.3.3.2 Mexico Minibar Refrigerators Market, by Technology
6.1.3.4 Rest of North America Minibar Refrigerators Market
6.1.3.4.1 Rest of North America Minibar Refrigerators Market, by End-use
6.1.3.4.2 Rest of North America Minibar Refrigerators Market, by Technology
6.2 Europe Minibar Refrigerators Market
6.2.1 Europe Minibar Refrigerators Market, by End-use
6.2.1.1 Europe Hospitality Market, by Country
6.2.1.2 Europe Transportation Market, by Country
6.2.1.3 Europe Minibar Refrigerators Market, by Transportation Type
6.2.1.3.1 Europe Marines Market, by Country
6.2.1.3.2 Europe Cruise Ships Market, by Country
6.2.1.3.3 Europe Campervans/RVs Market, by Country
6.2.1.3.4 Europe Others Market, by Country
6.2.1.4 Europe Offices Market, by Country
6.2.1.5 Europe Household Market, by Country
6.2.1.6 Europe Others Market, by Country
6.2.2 Europe Minibar Refrigerators Market, by Technology
6.2.2.1 Europe Absorption Market, by Country
6.2.2.2 Europe Thermoelectric/ Peltier Market, by Country
6.2.2.3 Europe Compression Market, by Country
6.2.3 Europe Minibar Refrigerators Market, by Country
6.2.3.1 Germany Minibar Refrigerators Market
6.2.3.1.1 Germany Minibar Refrigerators Market, by End-use
6.2.3.1.2 Germany Minibar Refrigerators Market, by Technology
6.2.3.2 UK Minibar Refrigerators Market
6.2.3.2.1 UK Minibar Refrigerators Market, by End-use
6.2.3.2.2 UK Minibar Refrigerators Market, by Technology
6.2.3.3 France Minibar Refrigerators Market
6.2.3.3.1 France Minibar Refrigerators Market, by End-use
6.2.3.3.2 France Minibar Refrigerators Market, by Technology
6.2.3.4 Russia Minibar Refrigerators Market
6.2.3.4.1 Russia Minibar Refrigerators Market, by End-use
6.2.3.4.2 Russia Minibar Refrigerators Market, by Technology
6.2.3.5 Spain Minibar Refrigerators Market
6.2.3.5.1 Spain Minibar Refrigerators Market, by End-use
6.2.3.5.2 Spain Minibar Refrigerators Market, by Technology
6.2.3.6 Italy Minibar Refrigerators Market
6.2.3.6.1 Italy Minibar Refrigerators Market, by End-use
6.2.3.6.2 Italy Minibar Refrigerators Market, by Technology
6.2.3.7 Rest of Europe Minibar Refrigerators Market
6.2.3.7.1 Rest of Europe Minibar Refrigerators Market, by End-use
6.2.3.7.2 Rest of Europe Minibar Refrigerators Market, by Technology
6.3 Asia Pacific Minibar Refrigerators Market
6.3.1 Asia Pacific Minibar Refrigerators Market, by End-use
6.3.1.1 Asia Pacific Hospitality Market, by Country
6.3.1.2 Asia Pacific Transportation Market, by Country
6.3.1.3 Asia Pacific Minibar Refrigerators Market, by Transportation Type
6.3.1.3.1 Asia Pacific Marines Market, by Country
6.3.1.3.2 Asia Pacific Cruise Ships Market, by Country
6.3.1.3.3 Asia Pacific Campervans/RVs Market, by Country
6.3.1.3.4 Asia Pacific Others Market, by Country
6.3.1.4 Asia Pacific Offices Market, by Country
6.3.1.5 Asia Pacific Household Market, by Country
6.3.1.6 Asia Pacific Others Market, by Country
6.3.2 Asia Pacific Minibar Refrigerators Market, by Technology
6.3.2.1 Asia Pacific Absorption Market, by Country
6.3.2.2 Asia Pacific Thermoelectric/ Peltier Market, by Country
6.3.2.3 Asia Pacific Compression Market, by Country
6.3.3 Asia Pacific Minibar Refrigerators Market, by Country
6.3.3.1 China Minibar Refrigerators Market
6.3.3.1.1 China Minibar Refrigerators Market, by End-use
6.3.3.1.2 China Minibar Refrigerators Market, by Technology
6.3.3.2 Japan Minibar Refrigerators Market
6.3.3.2.1 Japan Minibar Refrigerators Market, by End-use
6.3.3.2.2 Japan Minibar Refrigerators Market, by Technology
6.3.3.3 India Minibar Refrigerators Market
6.3.3.3.1 India Minibar Refrigerators Market, by End-use
6.3.3.3.2 India Minibar Refrigerators Market, by Technology
6.3.3.4 South Korea Minibar Refrigerators Market
6.3.3.4.1 South Korea Minibar Refrigerators Market, by End-use
6.3.3.4.2 South Korea Minibar Refrigerators Market, by Technology
6.3.3.5 Singapore Minibar Refrigerators Market
6.3.3.5.1 Singapore Minibar Refrigerators Market, by End-use
6.3.3.5.2 Singapore Minibar Refrigerators Market, by Technology
6.3.3.6 Malaysia Minibar Refrigerators Market
6.3.3.6.1 Malaysia Minibar Refrigerators Market, by End-use
6.3.3.6.2 Malaysia Minibar Refrigerators Market, by Technology
6.3.3.7 Rest of Asia Pacific Minibar Refrigerators Market
6.3.3.7.1 Rest of Asia Pacific Minibar Refrigerators Market, by End-use
6.3.3.7.2 Rest of Asia Pacific Minibar Refrigerators Market, by Technology
6.4 LAMEA Minibar Refrigerators Market
6.4.1 LAMEA Minibar Refrigerators Market, by End-use
6.4.1.1 LAMEA Hospitality Market, by Country
6.4.1.2 LAMEA Transportation Market, by Country
6.4.1.3 LAMEA Minibar Refrigerators Market, by Transportation Type
6.4.1.3.1 LAMEA Marines Market, by Country
6.4.1.3.2 LAMEA Cruise Ships Market, by Country
6.4.1.3.3 LAMEA Campervans/RVs Market, by Country
6.4.1.3.4 LAMEA Others Market, by Country
6.4.1.4 LAMEA Offices Market, by Country
6.4.1.5 LAMEA Household Market, by Country
6.4.1.6 LAMEA Others Market, by Country
6.4.2 LAMEA Minibar Refrigerators Market, by Technology
6.4.2.1 LAMEA Absorption Market, by Country
6.4.2.2 LAMEA Thermoelectric/ Peltier Market, by Country
6.4.2.3 LAMEA Compression Market, by Country
6.4.3 LAMEA Minibar Refrigerators Market, by Country
6.4.3.1 Brazil Minibar Refrigerators Market
6.4.3.1.1 Brazil Minibar Refrigerators Market, by End-use
6.4.3.1.2 Brazil Minibar Refrigerators Market, by Technology
6.4.3.2 Argentina Minibar Refrigerators Market
6.4.3.2.1 Argentina Minibar Refrigerators Market, by End-use
6.4.3.2.2 Argentina Minibar Refrigerators Market, by Technology
6.4.3.3 UAE Minibar Refrigerators Market
6.4.3.3.1 UAE Minibar Refrigerators Market, by End-use
6.4.3.3.2 UAE Minibar Refrigerators Market, by Technology
6.4.3.4 Egypt Minibar Refrigerators Market
6.4.3.4.1 Egypt Minibar Refrigerators Market, by End-use
6.4.3.4.2 Egypt Minibar Refrigerators Market, by Technology
6.4.3.5 South Africa Minibar Refrigerators Market
6.4.3.5.1 South Africa Minibar Refrigerators Market, by End-use
6.4.3.5.2 South Africa Minibar Refrigerators Market, by Technology
6.4.3.6 Nigeria Minibar Refrigerators Market
6.4.3.6.1 Nigeria Minibar Refrigerators Market, by End-use
6.4.3.6.2 Nigeria Minibar Refrigerators Market, by Technology
6.4.3.7 Rest of LAMEA Minibar Refrigerators Market
6.4.3.7.1 Rest of LAMEA Minibar Refrigerators Market, by End-use
6.4.3.7.2 Rest of LAMEA Minibar Refrigerators Market, by Technology
Chapter 7. Company Profiles
7.1 Dometic Group AB
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 SWOT Analysis
7.2 Felix Storch Inc.
7.2.1 Company Overview
7.2.2 SWOT Analysis
7.3 Minibar Systems
7.3.1 Company Overview
7.3.2 SWOT Analysis
7.4 Indel B Group
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 SWOT Analysis
7.5 Hisense International Co., Ltd.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 SWOT Analysis
7.6 Omnitec System S.L.
7.6.1 Company Overview
7.6.2 SWOT Analysis
7.7 Royal Minibar
7.7.1 Company Overview
7.7.2 SWOT Analysis
7.8 Tefcold A/S (Lindblad Group ApS)
7.8.1 Company Overview
7.8.2 SWOT Analysis
7.9 Koolatron Corporation
7.9.1 Company Overview
7.9.2 SWOT Analysis
7.10. Bartech Systems International Inc.
7.10.1 Company Overview
7.10.2 SWOT Analysis
Chapter 8. Winning Imperative of Minibar Refrigerators Market

Companies Mentioned

  • Dometic Group AB
  • Felix Storch Inc.
  • Minibar Systems
  • Indel B Group
  • Hisense International Co., Ltd.
  • Omnitec Systems S.L.
  • Royal Minibars
  • Tefcold A/S (Lindblad Group ApS)
  • Koolatron Corporation
  • Bartech Systems international Inc.

Methodology

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