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The personal cooling device market size is forecast to increase by USD 1.58 billion at a CAGR of 4.83% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. One major trend is the cost-effective supply chain of these household appliances devices, making them increasingly affordable for individuals. Handheld cooling devices, such as winding wires, and thermoelectric coolers (TEC), offer a portable and convenient solution for cooling during outdoor activities. Additionally, the increasing disposable income of consumers in both developed and emerging economies is fueling demand for personal cooling solutions. However, the market faces challenges from unorganized retailing, which can impact product quality and consumer trust. To stay competitive, market players are focusing on innovation, product differentiation, and strategic partnerships to expand their reach and maintain market share. The personal cooling device market is expected to continue its growth trajectory, driven by these factors and the increasing awareness of personal comfort and health.
Personal cooling devices have gained significant popularity in recent years due to the rising global temperature and increasing health concerns related to heat exposure. These devices include handheld cooling devices, personal air conditioner, desk fans, and wearable cooling solutions. Energy efficiency is a crucial factor in the personal cooling device market, as consumers seek to reduce their carbon footprint and save on energy costs. Personal air conditioners and HVAC systems provide more comprehensive cooling solutions for indoor spaces, while desk fans offer a budget-friendly option for cooling smaller areas. The market for personal cooling devices is expected to grow significantly due to the health benefits associated with cooling during heat stress. Heat-related diseases, including heatstroke, dehydration, and heat exhaustion, can be life-threatening, especially for first responders and individuals working in hot environments.
The rise of e-commerce and online sales has made it easier than ever to purchase personal cooling solutions from the comfort of your own home. Climate change and the increasing prevalence of heat islands in urban areas have also contributed to the growth of the personal cooling device market. Portable cooling solutions, such as portable air conditioners, offer a flexible and convenient alternative to traditional HVAC systems, making them an attractive option for consumers seeking to cool their homes and offices without the high cost and installation requirements of traditional systems. Ambient air systems are also gaining popularity for their ability to cool large spaces efficiently and cost-effectively. In conclusion, the personal cooling device market is a dynamic and growing industry, driven by the need for energy-efficient and convenient cooling solutions in the face of rising global temperatures and increasing health concerns related to heat exposure. From handheld cooling devices to portable air conditioners and wearable cooling solutions, there is a personal cooling device to fit every need and budget.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The personal air conditioner segment is estimated to witness significant growth during the forecast period. Personal cooling devices, including handheld cooling devices and personal air conditioners, have gained significant popularity due to the rising global temperature and the increasing prevalence of heat-related diseases. Portable cooling solutions, such as personal air conditioners, are particularly in demand as they offer energy efficiency and health benefits. These devices are compact and do not require permanent installation, making them ideal for both indoor and outdoor use.
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The personal air conditioner segment was the largest segment and was valued at USD 3.94 billion in 2018. Personal air conditioners account for the largest segment of the personal cooling device market. They are widely used for personal purposes or as additional fans to meet consumer requirements. Handheld cooling devices, such as thermoelectric coolers (TEC), battery-powered blowers, and ventilation vests, are also popular choices for outdoor activities and sports. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 54% to the growth of the global market during the forecast period. Technavioâs analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Personal Cooling Devices: Amidst the rising global temperature and increasing climate change concerns, the demand for Personal Cooling Devices, including Handheld Cooling Devices and Portable Air Conditioners, is on the rise. These devices offer energy efficiency and significant health benefits, making them essential for individuals during heat stress situations. Desk fans and battery-powered blowers are also popular choices for indoor cooling. First responders and outdoor workers are among the primary users of these cooling solutions. Advanced technologies such as Thermoelectric Coolers (TEC) and Ambient Air Systems are being integrated into protective vests and ventilation vests to ensure the safety of these professionals. Hence, such factors are driving the market in APAC during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Cost-effective supply chain of personal cooling devices is notably driving the market growth. The market is driven by the affordability and widespread usage of various cooling products such as cooling towels, cooling vests, cooling caps/hats, cooling sleeves, handheld mist fans, and personal air conditioners. Manufacturers of these devices utilize a diverse range of raw materials for production, including steel sheets, enameled copper wires, ball bearings, steel rods, blades, winding wires, and PVC.
Moreover, the availability of these raw materials in large quantities at relatively low prices, due to the vast supplier base, significantly contributes to the cost-effectiveness of the personal cooling device market. Thus, such factors are driving the growth of the market during the forecast period.
Increasing disposable income of individuals is the key trend in the market. The global market for personal cooling devices has experienced significant growth due to the increasing disposable income of individuals. For instance, in the United States, disposable personal income increased by 0.5% or USD 89.7 billion in March 2022 compared to March 2021, and it is projected to grow by 4.2% by the end of December 2023 compared to December 2022.
Moreover, this trend is not limited to developed countries, as the Organization for Economic Co-operation and Development (OECD) reports an increase in household disposable income in both developed and developing nations since 2021. Factors such as the rise in dual household income, per capita income, and rapid employment growth contribute to the increase in disposable income, leading to a higher demand for personal cooling devices like Cooling Towels, Personal Air Conditioners, Handheld Mist Fans, Cooling Vests, Cooling Caps/Hats, Cooling Sleeves, and various cooling technologies such as Evaporative Cooling, Compression Cooling, Thermoelectric Cooling, and Battery-powered Cooling. Thus, such trends will shape the growth of the market during the forecast period.
Threat from unorganized retailing is the major challenge that affects the growth of the market. The market encompasses a range of products including Cooling Towels, Personal Air Conditioners, Handheld Mist Fans, Cooling Vests, Cooling Caps/Hats, Cooling Sleeves, and employs various cooling technologies such as Evaporative Cooling, Compression Cooling, and Thermoelectric Cooling. The market is witnessing growth due to the increasing demand for portable and efficient cooling solutions, especially in regions with hot climates.
However, the emergence of unorganized retailers, particularly in developing countries like China, Vietnam, India, and a few African and Middle Eastern nations, poses a significant challenge. These retailers offer low-cost, readily available options for consumers, thereby reducing the market share of organized retailers in these regions. Despite this obstacle, the personal cooling device market is expected to continue its steady expansion, driven by the increasing popularity of premium fans and the growing emphasis on household decoration. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovatorâs stage to the laggardâs stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Beijing Huimao Cooling Equipment Co. Ltd: The company offers a personal cooling device, namely Thermoelectric cooling sleep pad.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Personal Cooling Devices refer to portable and wearable solutions designed to keep individuals cool during outdoor activities, sports events, or in hot work environments. These devices include Handheld Cooling Devices, Personal Air Conditioners, Desk Fans, Thermoelectric Coolers (TEC), Portable Air Conditioners, and Wearable Cooling Solutions. Handheld Cooling Devices, such as battery-powered blowers and ventilation vests, offer convenience and portability for those on the go. Energy Efficiency is a crucial factor in the development of these devices, as Climate Change brings about increasingly hotter temperatures and Heat-Related Diseases, including Heat Exposure, Heatstroke, and Dehydration. The market for Personal Cooling Devices is growing rapidly, with Online Sales and E-commerce platforms playing a significant role in their distribution. Outdoor Recreation and Sports Activities are major sectors driving demand for these devices, as people seek to stay comfortable during extended periods in the heat. Manufacturers of Personal Cooling Devices are focusing on innovative Cooling Technology, such as TEC and HVAC systems, to create more efficient and effective solutions. First responders and protective vests are also being developed with cooling capabilities to ensure the safety and well-being of individuals in high-risk environments. The market for Personal Cooling Devices is expected to continue growing, as the impact of Climate Change and the need to combat Heat Stress become increasingly apparent. Rising Global Temperature and the prevalence of Heat Islands will continue to drive demand for these solutions, making them essential for maintaining comfort and health in various industries and applications.
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Market Scope |
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Report Coverage |
Details |
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Page number |
134 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.83% |
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Market growth 2024-2028 |
USD 1.58 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.37 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 54% |
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Key countries |
China, US, Germany, Japan, and Australia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ambient Therapeutics Inc., Bajaj Electricals Ltd., Beijing Huimao Cooling Equipment Co. Ltd., Beurer GmbH, Blue Star Ltd., Design Go Ltd., Evapolar Ltd., Havells India Ltd., Honeywell International Inc., Ken Lifestyles Pvt. Ltd., Marathon Electric India Pvt. Ltd., Newell Brands Inc., O2Cool LLC, Orient Electric Ltd, Pelonis Technologies Inc., Shenzhen Lechuangtiancheng Technology Co. Ltd., Sony Group Corp., Summercool Home Appliances Ltd., Symphony Ltd, and Usha International Ltd. |
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Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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