Portable Evaporative Air Cooler Market Revenue to Record Stellar Growth Rate During 2018 – 2026
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.
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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 end users, the market is divided into industry, commercial and home. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Asia and the Middle East have witnessed substantial climate change in the last few years, thereby impacting the lives of people living in these regions. This has increased the demand for air cooling systems in both the commercial as well as the residential sector. There is also a strong awareness of the use of sustainable products in these regions. 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).
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Rising prosperity and increasing environmental consciousness is likely to generate attractive air cooler market growth over the foreseeable future. The Government of India launched an initiative of ‘Make in India’ in 2018 that paved the way for air cooler manufacturers to produce their products locally.
While this development no doubt gives a major incentive to global as well as in-house air cooler manufacturers, there are many benefits associated with ‘Make in India’ that can add greater value to the entire business chain. One of the most important factors that have traditionally influenced the country’s evaporative air coolers market has been the value-for-money mindset of the Indian consumer.
operating in the market includeSPX Cooling Technologies, Inc., Kelvion Holding GmbH, Baltimore Aircoil Company, Inc., Evapco, Inc., Ebara Refrigeration Equipment & Systems Co. Ltd., Luoyang Longhua Heat Transfer and Energy Conservation Co., Ltd., Xiamen MingguangMachinery Manufacturing Co., Ltd., Lanpec Technologies Ltd-A, Condair Group AG, and Honeywell International Inc.