Portable air coolers are eco-friendly air coolers which utilizes water-soaked pads to cool the air. They are also known as evaporative coolers and highly effective in cooling outdoor and indoor spaces. The global portable air cooler market report by Market Research Future (MRFR) comprises pertinent trends, opportunities, and growth drivers for the period of 2019 to 2024 (forecast period).
The Portable Air Cooler Industry is set to attain a valuation of USD 1.65 billion by 2024. It can display a CAGR of 6.1% during the forecast period. The low carbon footprint of these equipment and its wide range of options can drive market demand. The growth of the home appliance industry and use of air coolers in commercial and residential spaces can bode well for the market. Moreover, features integrated into latest evaporative coolers such as weather monitoring system and remote control system can entice customers in its purchase in its coming years.
Improved living standards of customers and their increased expendable income levels can fuel market demand. Offerings of types of air coolers such as window type, desert type, and tower type will augur favorably for the global portable air cooler market. IT companies have procured portable air coolers for cooling server rooms, data center facilities, and office suites for improving resiliency and combating power outages.
The global portable air cooler market has been segmented on the basis of category, end user, and distribution channel.
By category, the market has been classified into automatic and semi-automatic. The semi-automatic segment can dominate the market till the forecast period. This can be credited due to its affordability and easy to use features. In addition, the availability of stores holding air coolers making it easier for customers can fuel the segment growth. However, the automatic segment can register a strong CAGR during the forecast period due to distinct features such as remote control systems. Large disposable income levels of customers in developing economies can influence the growth of the segment.
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Based on end user, the global portable air cooler market is segmented into residential and commercial. The commercial segment is likely to require air coolers for its cooling of systems and prevent it from overheating. Recently, Symphony has launched air coolers for offices looking to keep overhead costs low.
Distribution channel explored in the market include store-based and non-store-based. The store-based segment has been further divided into supermarkets and hypermarkets, specialty stores, and others.
Asia Pacific (APAC), Europe, North America, and Rest-of-the-World (RoW) are major regions covered in the global portable air cooler market report.
APAC is predicted to lead the air cooler market till the end of the forecast period owing to its preference by customers in developing economies. Japan, China, and India make up the biggest consumer base of the regional market with the majority preferring air coolers over air conditioners.
The RoW region can display the highest CAGR during the assessment period owing to countries in South America, Africa, and the Middle East. Portable air coolers in the Middle East and Africa economies have occupied a large share of the regional market. This can be credited to humid or dry conditions experienced by denizens can warrant the need for air coolers. The organized numbers of specialty and retail stores can play a major role in the region in the coming years.
Honeywell International Inc., Panasonic Corporation, De’Longhi S.p.A, The Whirlpool Corporation, LG Electronics Inc., Usha International Ltd, Olimpia Splendid S.p.A., WHYNTER LLC, NewAir, Orient Electric, Carrier Corporation, Bajaj Electricals Ltd, Havells India Ltd., Symphony Limited, and Electrolux AB are major players of the global portable air cooler market.
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