China Minibar Refrigerators Market Size & Outlook
China minibar refrigerators market, 2017-2030 (US$M)
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China minibar refrigerators market highlights
- The China minibar refrigerators market generated a revenue of USD 19.2 million in 2022 and is expected to reach USD 27.3 million by 2030.
- The China market is expected to grow at a CAGR of 4.5% 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.
Minibar refrigerators market data book summary
| Market revenue in 2022 | USD 19.2 million |
| Market revenue in 2030 | USD 27.3 million |
| Growth rate | 4.5% (CAGR from 2022 to 2030) |
| Largest segment | Absorption |
| Fastest growing segment | Thermoelectric/ Peltier |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 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, China accounted for 5.7% of the global minibar refrigerators market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China minibar refrigerators market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 27.3 million by 2030.
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Minibar Refrigerators Market Scope
Minibar Refrigerators Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 55.73% in 2022. Horizon Databook has segmented the China minibar refrigerators market based on absorption, thermoelectric/ peltier, compression covering the revenue growth of each sub-segment from 2017 to 2030.
The growing construction in the hospitality sector in China, including hotels, lodges, and guest houses, is likely to have a positive impact on the adoption of popular amenities like mini bar fridges and other devices.
According to the data from STR (Smith Travel Research), a well-known company that provides data insights for the global hospitality industry, the construction of hotel rooms in Asia Pacific significantly increased by 0.6% to 476,942 rooms in December 2022 compared to December 2021.
Among all the Asia Pacific countries, China holds the largest number of rooms in construction, that is, 300,163. To attract and retain guests, establishments across the country emphasize on offering amenities that meet or exceed guest expectations.
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Horizon Databook provides a detailed overview of country-level data and insights on the China minibar refrigerators market , including forecasts for subscribers. This country databook contains high-level insights into China minibar refrigerators market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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China minibar refrigerators market size, by technology, 2017-2030 (US$M)
China Minibar Refrigerators Market Outlook Share, 2022 & 2030 (US$M)
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