There are different types of portable air coolers available in the market. The demand for portable air coolers relies on the preference of customers which are based on product features, properties, and appearance. Market players are offering a variety of portable air coolers with different designs and cooling capacity which provides customers a range of options to choose from as per their needs. These factors are expected to boost the growth of the global portable air cooler Industry. The global portable air cooler market is projected to register a significant growth rate of 6.1% from 2019 to 2024 to reach a market value of USD 1.65 Billion by the end of 2024. The demand for different types of portable air coolers and other air-cooling devices are offering lucrative business opportunities to the market players, encouraging product innovation.
The global portable air cooler market has been segmented on the basis of category, end user, and distribution channel.
Based on category, the global portable air cooler market has been segmented into automatic and semi-automatic.
Based on end user, the global portable air cooler market has been segmented into residential and commercial.
On the basis of distribution channel, the global portable air cooler market has been divided into store-based and non-store-based.
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Portable Air Cooler Industry Updates
October 2018: Carrier Corporation opened a new technology development center, in Haryana, India. The new energy-efficient facility features a state-of-the-art laboratory and testing facility to aid the development of Carrier’s heating, ventilating and air conditioning (HVAC) products and serving as an engineering hub in the region. Through this development center, Carrier Corporation is expected to channelize its resources to develop innovative products using the latest technologies and deliver better products to meet the region's demand for high energy-efficiency.
Portable Air Cooler Market Regional Analysis
The global portable air cooler market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
The Asia-Pacific portable air cooler market is expected to dominate the global portable air cooler market during the forecast period. As compared to air conditioning devices, air coolers are affordable and efficient to use by most of the customers in the region. This factor is likely to influence the regional portable air cooler market during the forecast period. Through advertising media and e-commerce platforms, market players are continuously trying to create brand awareness among customers, which is further expected to drive the growth of portable air cooler market in the region.
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The portable air cooler market in RoW is projected to grow at the fastest rate from 2019 to 2024. Due to the hot and dry climate, there is a high demand for air cooling systems in this region, which is expecting to boost the regional growth of portable air cooler during the forecast period. Product innovation by market players with a focus on air coolers with remote control system and continuous growth in retail sector is further boosting the regional market growth.
Portable Air Cooler Market Key Players
Some of the key players in the global portable air cooler market are LG Electronics Inc. (South Korea), Olimpia Splendid S.p.A. (Italy), Electrolux AB (Sweden), Havells India Ltd. (India), De'Longhi S.p.A (Italy), Carrier Corporation (US), Honeywell International Inc. (US), The Whirlpool Corporation (US), Symphony Limited. (India), NewAir (US), Bajaj Electricals Ltd (India), Usha International Ltd (India), WHYNTER LLC (Canada), Panasonic Corporation (Japan), Orient Electric (India).
These factors are expected to boost the growth of the global portable air cooler market.
Additionally, semi-automatic portable air coolers are used by most of the customers, and these coolers are widely available in stores; this assists the growth of semi-automatic portable air cooler segment.
Portable air coolers are widely used in by consumers in residential spaces.
Tower coolers, window coolers, and room coolers are mainly designed for residential uses.
But in some commercial places such as hotels, some restaurants, and hospitals still air coolers are in use, particularly designed for commercial uses.
The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements across the e-commerce industry and growing customer preference for online shopping.Latest Industry UpdatesOctober 2018: Carrier Corporation opened a new technology development center, in Haryana, India.
The Global Portable Air Cooler Market Size is projected to register a significant growth rate of 6.1% from 2019 to 2024 to reach a market value of USD 1.65 Billion by the end of 2024.
The demand for different types of portable air coolers and other air-cooling devices are offering lucrative business opportunities to the market players, encouraging product innovation.
The demand for portable air coolers relies on the preference of customers which are based on product features, properties, and appearance.
Market players are offering a variety of portable air coolers with different designs and cooling capacity which provides customers a range of options to choose from as per their needs.
These factors are expected to boost the growth of the global portable air cooler market.The global portable air cooler market has been segmented on the basis of category, end user, and distribution channel.Based on category, the global portable air cooler market has been segmented into automatic and semi-automatic.Based on end user, the global portable air cooler market has been segmented into residential and commercial.On the basis of distribution channel, the global portable air cooler market has been divided into store-based and non-store-based.Get a FREE Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/8237October 2018: Carrier Corporation opened a new technology development center, in Haryana, India.
The new energy-efficient facility features a state-of-the-art laboratory and testing facility to aid the development of Carrier’s heating, ventilating and air conditioning (HVAC) products and serving as an engineering hub in the region.Regional InsightsThe Asia-Pacific portable air cooler market is expected to dominate the global portable air cooler market during the forecast period.
Evaporative air coolers incorporate evaporative cooling and are used to lower temperatures in the areas where these are installed, thereby finding widespread adoption in both indoor and outdoor applications across the global residential and commercial sector.
Over the years, the demand for evaporative air coolers has witnessed a surge owing to several factors.
Global warming is one of the main factors fueling growth in demand for evaporative air coolers.This industry is constantly evolving with the advent of new players along with existing established companies foraying into this space.
A few years ago, the air cooler market was largely dominated by the unorganised players as spending too much on air coolers wasn't considered necessary.The portable evaporative air cooler market is segmented based on product type, end users, and geography.
Based on product type, the market is bifurcated into automatic and semi-automatic.
Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Evaporative air coolers incorporate evaporative cooling and are used to lower temperatures in the areas where these are installed, thereby finding widespread adoption in both indoor and outdoor applications across the global residential and commercial sector.
Over the years, the demand for evaporative air coolers has witnessed a surge owing to several factors.
Global warming is one of the main factors fueling growth in demand for Portable evaporative air coolers market.This industry is constantly evolving with the advent of new players along with existing established companies foraying into this space.
A few years ago, the air cooler market was largely dominated by the unorganised players as spending too much on air coolers wasn't considered necessary.The portable evaporative air cooler market is segmented based on product type, end users, and geography.
Evaporative air coolers offer natural and energy saving solutions that are also cost effective.This has resulted in an increased demand especially from the rising middle class in these regions.
Several domestic manufacturers operating in the Asian and Middle Eastern markets are slowly expanding their brands in the international market as well, thereby broadening the scope for exports of evaporative air coolers.Air coolers have proved to be one of the superior alternatives to air conditioners (lower life-cycle cost and enhanced flexibility).
