Car Refrigerator Market size was over USD 540.77 Million in 2023 and is likely to reach USD 814.42 Million by the end of 2036, witnessing around 3.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of car refrigerator is assessed at USD 556.34 Million. The growth of the market can be attributed primarily to the rapid growth and development of the automotive industry worldwide. For instance, the automotive industry in India is estimated to grow in vehicle exports by five times by the end of 2026, and automobile exports from India accounted for over 5,600,200 units in year 2021-22
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. Moreover the rising demand for premium products, growing purchasing power for innovative products, increasing changes in lifestyle coupled with desire to eat fresh and healthy while travelling are anticipated to drive global car refrigerator market growth over the forecast period. In a study of 1000 people aged over 18 years, it was found that lifestyle changes were identified in 18% of the population owing to healthy dietary habits.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
3.2% |
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Base Year Market Size (2023) |
USD 540.77 Million |
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Forecast Year Market Size (2036) |
USD 814.42 Million |
Type (Compressor, Absorption, Thermoelectric)
The global car refrigerator market is segmented and analyzed for demand and supply by type into compressor, absorption and thermoelectric. Among these segments, the compressor segment is anticipated to capture the largest market size in the global car refrigerator market owing to the emergence of innovative and technologically advanced car refrigerators by key manufacturers. In August 2019, recently a car refrigerator was launched which is composed of a 12L cabin, with a DC inverter compressor, maintaining -18°C optimum temperature and requiring only 3.75 Amps of power. Moreover, the compact size, ease of use, and low battery consumption are expected to contribute to segment growth over the forecast period.
Our in-depth analysis of the global car refrigerator market includes the following segments:
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By Type |
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By Price Range |
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By Distribution Channel |
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Regionally, the global car refrigerator market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2036 owing to favorable market conditions, growing indigenous demand for car refrigerators, and an increase in the adoption of new advanced technologies. Moreover, rising disposable income among the growing middle and affluent class along with rising passenger car sales in the region is anticipated to fuel car refrigerator market growth over the forecast period. It was observed that passenger car sales accounted for approximately 3,300,000 units in December 2021, a significant increase from 2,300,900 units in June 2021.
Author Credits: Saima Khursheed
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