Asia Pacific Minibar Refrigerators Market Size & Outlook
Asia Pacific minibar refrigerators market, 2017-2030 (US$M)
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Asia Pacific minibar refrigerators market highlights
- The Asia Pacific minibar refrigerators market generated a revenue of USD 84.3 million in 2022.
- The market is expected to grow at a CAGR of 4.1% from 2023 to 2030.
- In terms of segment, absorption was the largest revenue generating technology in 2022.
- Thermoelectric/ Peltier is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 84.3 million |
| Market revenue in 2030 | USD 116.5 million |
| Growth rate | 4.1% (CAGR from 2022 to 2030) |
| Largest segment | Absorption |
| Fastest growing segment | Thermoelectric/ Peltier |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Absorption, Thermoelectric/ Peltier, Compression |
| Key market players worldwide | Dometic Group AB, Indel B, Felix Storch, Minibar Systems, Hisense Home Appliances Group Co Ltd Class H, TEFCOLD, Koolatron, Bartech Systems International |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 25.0% of the global minibar refrigerators market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 116.5 million by 2030.
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Minibar Refrigerators Market Scope
Minibar Refrigerators Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific minibar refrigerators market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to minibar refrigerators market will help companies and investors design strategic landscapes.
Absorption was the largest segment with a revenue share of 55.4% in 2022. Horizon Databook has segmented the Asia Pacific minibar refrigerators market based on absorption, thermoelectric/ peltier, compression covering the revenue growth of each sub-segment from 2017 to 2030.
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 like Oberoi and Four Seasons. The growth in the travel and tourism industry typically leads to increased demand for hospitality services, including hotels and accommodations.
As more people travel for leisure, business, or other purposes, the need for amenities like minibars in hotel rooms also tends to rise. Minibars provide guests with convenient access to a variety of beverages and snacks without having to leave their rooms.
Also, the region has been experiencing significant growth in tourism and business travel. New hotel chains catering to these travelers can attract a diverse range of guests who have different preferences and needs, including the desire for in-room amenities like minibars.
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Our clientele includes a mix of minibar refrigerators market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific minibar refrigerators market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific minibar refrigerators market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific minibar refrigerators market size, by country, 2017-2030 (US$M)
Asia Pacific Minibar Refrigerators Market Outlook Share, 2022 & 2030 (US$M)
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