Car refrigerator is defined as a portable refrigerator which is designed to fit in any vehicle. It is optimized to fit on the floor in front of the smaller middle seat located in maximum cars. It is designed to run off the rechargeable battery or by the car AC port.
“Car Refrigerator Market: Global Demand Analysis & Opportunity Outlook 2024”
The global car refrigerator market is segmented into type such as compressor, absorption and thermoelectric. Among these segments, thermoelectric segment is believed to showcase a noteworthy CAGR by the end of 2024.
Likely, growing adoption of luxury vehicles on the back of swelled disposable income is anticipated to flourish the growth of car refrigerator market globally. In addition to this, rise in per capita income coupled with changing lifestyle of the consumers is also predicted to propel the market of car refrigerator in near future.
Global car refrigerator market is projected to mask a remarkable CAGR over the forecast period. Moreover, the global car refrigerator market is anticipated to generate exponential sales over the forecast period i.e.
2017-2024. Additionally, the market of car refrigerator is riding on the back of robust expansion of automotive industry along with rising inclination towards luxury cars equipped with numerous features.
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In terms of regional platform, North America region is slated to account for a lion share in the market of car refrigerator in 2016. Further, U.S. is the most prominent country in this region due to rapid urbanization along with growing adoption of advanced technologies.
Moreover, Europe market is expected to attain maturity as most of the vehicles are integrated with high end electronics. Apart from this, Asia-Pacific region is predicted to post a highest CAGR owing to presence of largest automotive industry and emerging economies such as India and China.
Swelled Disposable Income
Rise in per capita income coupled with rising purchasing power of the consumer have augmented demand for high end electronics equipped in car and growing preference for luxury products due to changing life of the population are believed to be the dynamic factor behind the rapid growth of car refrigerator market during the forecast period. Moreover, growing demand for high end electronics from commercial cars is also envisioned to foster the growth of car refrigerator market.
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Increase in Sale of Car
Increasing number of car on roads for e.g. the global sale of passenger car reached to 69,464,432 in 2016 from 45,407,298 in 2005.
Furthermore, growing adoption of technologically advanced cars is predicted to augment the demand for car refrigerator. These factors are anticipated to flourish the growth of car refrigerator market globally.
On the contrary, maintenance issue related with car refrigerator is projected to dampen the growth of car refrigerator market. Moreover, incorporation of car refrigerator into cars has resulted in increased price of car which is expected to hinder the growth of car refrigerator market.
The report titled “Car Refrigerator Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global car refrigerator market in terms of market segmentation by type, by price range, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global car refrigerator market which includes company profiling of Mobicool, PNDA, NFA, IndelB, Kingcool, Fiyilian, ,Ezetil, Congbao, Autobox, and Aotuotai. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global car refrigerator market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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