India Minibar Refrigerators Market Size & Outlook
India minibar refrigerators market, 2017-2030 (US$M)
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India minibar refrigerators market highlights
- The India minibar refrigerators market generated a revenue of USD 8.5 million in 2022 and is expected to reach USD 11.5 million by 2030.
- The India market is expected to grow at a CAGR of 3.8% 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 8.5 million |
| Market revenue in 2030 | USD 11.5 million |
| Growth rate | 3.8% (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, India accounted for 2.5% 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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India 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 55.29% in 2022. Horizon Databook has segmented the India minibar refrigerators market based on absorption, thermoelectric/ peltier, compression covering the revenue growth of each sub-segment from 2017 to 2030.
In India, the launch of new luxury hotels by major hospitality brands like Radisson, Hilton Group, and Fairmont Hotels & Resorts indicates the continued growth and interest in the Indian hospitality market. In a crowded market, hotels and lodges look for ways to stand out from the competition.
This can help attract more guests and improve occupancy rates. In addition, leading hospitality companies in India are expanding their presence and enhancing the customer experience through high-class in-room amenities like minibars to enhance their reputation in customer service.
These efforts are driven by the desire to cater to diverse customer preferences, foster guest loyalty, and ultimately maintain a competitive edge in the market. In August 2023, Espire Hospitality Group expanded its presence in the hospitality industry in India.
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Our clientele includes a mix of minibar refrigerators market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India minibar refrigerators market , including forecasts for subscribers. This country databook contains high-level insights into India minibar refrigerators market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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India minibar refrigerators market size, by technology, 2017-2030 (US$M)
India Minibar Refrigerators Market Outlook Share, 2022 & 2030 (US$M)
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