Portable Air Cooler Industry Survey and Global Foresight Report 2024
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 market.
The global Portable Air Cooler Industry 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 based on category, end user, and distribution channel.
Based on category, the global portable air cooler market has been segmented into automatic and semi-automatic. The semi-automatic segment is expected to dominate the global portable air cooler market during the forecast period. Semi-automatic portable air coolers are affordable and easy to operate as compared to automatic ones which is expected to lead to the growth of the segment.
Based on end user, the global portable air cooler market has been segmented into residential and commercial. The residential segment is expected to dominate the global portable air cooler market and register the higher CAGR during the assessment period. 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. Different types of portable air coolers available in the market for residential uses of customers are influencing the market for portable air cooler globally.
On the basis of distribution channel, the global portable air cooler market has been divided into store-based and non-store-based. The store-based segment has been further segmented into supermarkets and hypermarkets, specialty stores, and others. This segment is expected to dominate the global market by generating the highest revenue owing to strong distribution networks and high brand value created by the market players.
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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.
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.