Minibar Refrigerators Market Projected To Raise At USD 432.36 Million By 2030

 San Francisco, 3 May 2024: The Report Minibar Refrigerators Market Size, Share & Trends Analysis Report By Technology (Absorption, Thermoelectric/ Peltier, Compression), By End-use (Transportation, Hospitality, Offices, Household), By Region, And Segment Forecasts, 2023 - 2030

The global minibar refrigerators market size is expected to reach USD 432.36 million by 2030, registering a CAGR of 3.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing hospitality industry is a significant driver for the minibar refrigerator market growth. As tourism and travel continue to flourish globally, hotels and accommodations are striving to enhance guest experiences. Minibar refrigerators offer a convenient and efficient way for hotels to provide in-room refreshments and snacks, which can significantly contribute to guest satisfaction and revenue generation. The desire to offer more personalized services to guests has led to the adoption of minibar refrigerators in many hotels, driving the demand for these appliances.

Changing consumer lifestyles and preferences have substantially impacted the market. People increasingly seek convenience, and minibar refrigerators offer a compact and easily accessible solution for storing beverages and snacks. Whether it's in a hotel room or a home office, individuals appreciate the convenience of having cold drinks and snacks readily available. This trend towards convenience is boosting sales of minibar refrigerators for personal use.

Consumers are increasingly adopting minibar refrigerators for a variety of reasons. They are perfect for small spaces, such as apartments, dorm rooms, and RVs. They are also more energy-efficient than traditional refrigerators, which can save consumers money on their energy bills. These fridges are also portable, making them easy to take on road trips, camping trips, or even to the office. In addition, consumers can customize minibar refrigerators to their specific needs, such as adding an ice maker or adjustable shelves.

Technological advancements also play a role in driving the growth of the minibar refrigerator market. Modern minibar refrigerators have features such as energy-efficient cooling systems, digital temperature control, and even smart connectivity options. These features improve the user experience and cater to the growing demand for sustainable and energy-efficient appliances, making minibar refrigerators an attractive choice for consumers and businesses.

Dometic Group AB’s HiPro series includes a set of premium minibars that are energy-saving and do not contain chromate, a commonly used corrosion inhibitor for absorption minibars that was recently flagged by the EU. The Dometic HiPro minibar refrigerators are engineered to chill drinks rapidly without over-cooling. The transparent door racks can fit 1.5L bottles, and the adjustable and removable shelves can fit various products.

Access Research Report of Minibar Refrigerators Market @ https://www.grandviewresearch.com/industry-analysis/minibar-refrigerators-market-report

Minibar Refrigerators Market Report Highlights

• Based on technology, the absorption technology held a market share of 55.86% in 2022. The virtually noiseless operation of absorption minibar refrigerators is another compelling factor driving the growth. These refrigerators are well-suited for hotels, offices, and residential settings where noise disruption is undesirable, providing occupants with a peaceful and comfortable environment
• Based on end-use, the transportation end-use is expected to grow at a CAGR of 3.7% from 2023 to 2030. Technological innovation is the driving force behind the growth of minibar refrigerators in transportation. The integration of smart and connected features, such as IoT-enabled monitoring and control systems, enhances the functionality of minibar refrigerators.Consumers can remotely manage the contents and temperature of the minibar through their smartphones, while transportation companies can collect valuable data for better inventory management and customer insights
• Asia Pacific dominated the market with a share of 30.46% in 2022. The minibar market in the Asia Pacific region is projected to experience significant growth due to the flourishing travel and tourism industry and the presence of well-known hotel chains such as Oberoi and Four Seasons. The growth in the travel and tourism industry typically leads to increased demand for hospitality services, including hotels and accommodations

Minibar Refrigerators Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 347.75 million
Revenue forecast in 2030	USD 432.36 million
Growth rate	CAGR of 3.1% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

List of Key Players in the Minibar Refrigerators Market

• ISM Makine Elektrik Sanayi ve Ticaret A.?.
• Dometic
• Felix Storch (Summit Appliance)
• Minibar Systems
• Indel B SpA
• HISENSE
• OMNITEC SYSTEMS S.L.
• Royal Minibars
• TEFCOLD Group
• Kollatron Corporation
• Bartech

Access Press Release of Minibar Refrigerators Market @ https://www.grandviewresearch.com/press-release/global-minibar-refrigerators-market