New York, United States , June 06, 2024 (GLOBE NEWSWIRE) -- The Global Portable Air Cooler Market Size is Expected to Hold a Significant Share by 2033, at a Compound Annual Growth Rate (CAGR) of 10.35% during the projected period.
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Portable air coolers are compact and lightweight devices designed to provide immediate relief from heat and can be easily moved from one place to another. It uses water and air to cool down a room or an area such as homes, offices, small shops, and outdoor spaces. It works on the principle that involves drawing in warm air, passing it through a wet cooling pad, and releasing cooled air back into the environment. It consumes less electricity than an air conditioner and can save up to 80% of energy costs. In addition, portable air coolers are environmentally friendly emitting no harmful gases or pollutants in the environment. The integration of smart functionalities involves the incorporation of features such as Wi-Fi connectivity, smartphone apps, and voice control capabilities to optimize comfort and energy efficiency. Furthermore, manufacturers are exploring eco-friendly materials and sustainable manufacturing processes to minimize the environmental footprint of air coolers. The rising demand for efficient and eco-friendly cooling solutions owing to the rising temperature is driving the market demand for portable air coolers owing to their cost-saving aspects. Further, the ongoing innovation and technological advancements in superior performance, energy efficiency, and convenience of portable air coolers are further upsurging the market growth. The development of advanced innovative solutions to cater to specific consumer needs, including additional features such as air purifiers, humidifiers, or noise reduction technologies is significantly driving the market growth. On the contrary, the limited cooling capacity of portable air coolers particularly in high-humidity areas is impeding the market growth for portable air cooler.
Browse key industry insights spread across 180 pages with 110 Market data tables and figures & charts from the report on the "Global Portable Air Cooler Market Size, Share, and COVID-19 Impact Analysis, By Category (Automatic and Semi-Automatic), By End-User (Residential and Commercial), By Distribution Channel (Store-Based and Non-Store Based), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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- The semi-automatic segment is anticipated to hold the largest market share through the forecast period.
Based on the category, the global portable air cooler market is segmented into automatic and semi-automatic. Among these, the semi-automatic segment is anticipated to hold the largest market share through the forecast period. The affordability and user-friendly aspect of the semi-automatic portable air cooler enhances its popularity and thus is widely available in stores, catering to a major number of consumers. The increasing popularity of the semi-automatic segment drives the market demand for portable air cooler.
- The residential segment is expected to grow at the fastest CAGR through the forecast period.
Based on end-user, the global portable air cooler market is segmented into residential and commercial. Among these, the residential segment is expected to grow at the fastest CAGR through the forecast period. Several types of portable air coolers such as tower coolers, window coolers, and room coolers have widespread applications in residential segments like home use. The convenient and affordable cooling solutions for small spaces increase demand for portable air coolers in the residential segment.
- The store-based channels segment is anticipated to hold the largest market share through the forecast period.
Based on the distribution channel, the global portable air cooler market is segmented into store-based and non-store based. Among these, the store-based channels segment is anticipated to hold the largest market share through the forecast period. The store-based channels are further categorized into supermarkets & hypermarkets, and specialty stores. The key market players of portable air coolers have established a high brand value and strong distribution network that is contributing to driving the market growth. Further, the introduction of advanced innovative features in the device is promoting the market in the store-based segment.
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Asia-Pacific dominates the market with the largest market share over the forecast period.
Asia-Pacific dominates the market with the largest market share over the forecast period. The increasing energy consciousness, rapid urbanization, and rising temperature in the region are driving the portable air cooler market. Due to hot and humid weather in many countries in the region, the increasing popularity of portable air coolers as an affordable and adaptable cooling solution. Further, the robust focus on innovation for bringing out new features like remote controls, programmed timers, and environmentally friendly cooling systems is driving the market. In India, the government plans to support the electrical association to collect a strong and intelligent structure. The increasing power age limit plans, creating interest in replacing or re-establishing developing flow transformers.
North America region is expected to grow the fastest during the forecast period. Densely populated urban areas often experience the "urban heat island" effect, making portable air coolers a practical solution for individual apartments or rooms. Manufacturers are constantly improving portable air coolers, offering features like enhanced water efficiency, quieter operation, and smart controls. With the advancement in technology and rising consumer demand for personal cooling solutions poised the rapid market expansion for portable air cooler in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global portable air cooler market are Honeywell International Inc., Havells India Ltd., The Whirlpool Corporation, Bajaj Electricals Ltd, Usha International Ltd, Panasonic Corporation, Symphony Limited, De’Longhi S.p.A, LG Electronics Inc., Orient Electric, Olimpia Splendid S.p.A., Electrolux AB, NewAir, Carrier Corporation, WHYNTER LLC, and Other Key Players.
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Recent Developments
- In June 2023, Province launched a new initiative to protect people during extreme heat emergencies by providing $ 10 million for BC Hydro to expand its energy conservation assistance program to include free, publicly funded portable air conditioners.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global portable air cooler market based on the below-mentioned segments:
Global Portable Air Cooler Market, Category Analysis
- Automatic
- Semi-Automatic
Global Portable Air Cooler Market, End-User Analysis
- Residential
- Commercial
Global Portable Air Cooler Market, Distribution Channel Analysis
- Store-Based
- Non-Store Based
Global Portable Air Cooler Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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