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 is more convenient and more efficient in storing supplies and food, rather than using an insulated food and beverage box with ice packs because as the ice packs melt, the box will begin to heat up. Therefore, the car refrigerators provide convenience and versatility in a simple form.
The global car refrigerator market is expected to grow at a robust growth rate over the forecast period i.e. 2017-2024. The global car refrigerator market is driven by the rapid growth of automobile industry and rising purchasing power of the consumer for innovative and technologically advanced luxury items.
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The most prominent regional markets include North America and Asia-Pacific. The global car refrigerator market has been dominated by North America, owing to favorable market conditions and increase in adoption for new advanced technologies. Asia–Pacific region is expected to capture significant share during the forecast period aided by China and India, the fastest developing countries. Further, the growing indigenous demand for car refrigerator in India is a result of rising disposable income among the growing middle and affluent class. One of the key factors raising the demand for car refrigerator in this region is need for cold storage in commercial vehicles by cab drivers. In Europe, the car refrigerator market is estimated to attain maturity as most of the vehicles are equipped with high end electronics and safety features. In Western Europe, Germany is estimated to dominate the car refrigerator market. However, Eastern Europe and North American countries such as Mexico and Canada still have the potential market due to increasing vehicle production capacity and commissioning of new vehicle assembly plants.
Our in-depth analysis segmented the car refrigerator market in the following segments:
Global car refrigerator market is further classified on the basis of region as follows:
Rising disposable income coupled with changing lifestyle of the people is the one of the key growth drivers for car refrigerator market. Further, rising sale of luxury cars is believed to be the dynamic factor behind the growth of the car refrigerator market. Also, increasing demand for car equipped refrigerator from the consumers is expected to drive the market over the forecast period. Rapid urbanization has led to the growth of global car refrigerator market. Furthermore, increase in demand for high-end electronics, mainly in commercial cars is anticipated to be the significant factor behind the rapid growth of car refrigerator market. However, incorporation of refrigerators has resulted in increased price of the car. This factor is anticipated to restrain the growth of global car refrigerator market. Moreover, maintenance issue associated with the car refrigerator is hindering the development of car refrigerator market which is further likely to dampen the market growth in future.
The major key players for car refrigerator market are as follows
Overview of the Parent Market
The global car refrigerator market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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