Enjoy complimentary customisation on priority with our Enterprise License!
The personal Cooling Device Market is projected to grow by USD 1.73 billion with a CAGR of 5.28% during the forecast period 2021 to 2026.
This personal cooling device market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the personal cooling device market segmentation by type (personal air conditioner and handheld cooling device) and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The personal cooling device market report also offers information on several market vendors, including 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. among others.
Download Report Sample to Unlock the Personal Cooling Device Market Size for the Forecast Period and Other Important Statistics
The cost-effective supply chain for personal cooling devices is notably driving the personal cooling device market growth, although factors such as threats from unorganized retailing may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the personal cooling device market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Personal Cooling Device Market Driver
The cost-effective supply chain for personal cooling devices is one of the key factors driving the global personal cooling device market growth. The cost-effective nature of the supply chain for personal cooling devices is of the major factors expected to drive the growth of the global personal cooling device market. Personal cooling devices such as desk fans or handheld cooling devices are inexpensive and easily available home appliances that are used extensively globally. The manufacturers of personal cooling devices use a wide range of raw materials in the manufacturing process. The raw materials include steel sheets, enameled copper wires, ball bearings, steel rods, blades, winding wires, and PVC. The global personal cooling device market consists of numerous suppliers, and personal cooling device manufacturers can purchase raw materials in bulk at low prices. The low cost of raw materials leads to low production costs, which further translates into the low cost of personal cooling devices. The price of personal cooling devices available in the market ranges from $15 to $150. Thus, the easy availability of raw materials to manufacture personal cooling devices and the low manufacturing cost of these fans are expected to contribute to the growth of the market focus during the forecast period.
Key Personal Cooling Device Market Trend
Increasing disposable income of individuals will fuel the global personal cooling device market growth. According to the Organisation for Economic Co-operation and Development (OECD), household disposable income has increased in developed and developing countries since 2021. Factors such as the rise in dual household income, per capita income, and rapid growth in employment rates have increased the disposable income of individuals globally. The increase in disposable income among people is expected to increase the spending and purchasing power of consumers during the forecast period. The demand for personal cooling devices has been increasing as consumers’ income levels have increased and access to electricity has become more readily available. Modern stand fans for home use are meant to save energy while also adding a touch of luxury for added aesthetic appeal. Stand fans are popular in low and middle-income countries where people cannot afford air conditioning. In such homes, stand fans are extremely important. Increasing disposable income among individuals will result in the increased adoption of electrical products such as stand fans, particularly in localities with moderate temperatures. Such factors are expected to drive the growth of the global personal cooling device market during the forecast period.
Key Personal Cooling Device Market Challenge
Threats from unorganized retailing are the major challenges to the global personal cooling device market growth. The emergence of unorganized retailers in the global personal cooling device market, especially in China, Vietnam, India, and a few African and Middle East countries, was a major challenge in 2021. Though the global personal cooling device market is exhibiting steady growth with the increase in the demand for premium fans and the growing emphasis on home decoration, consumers in various developing countries such as India, Brazil, Bangladesh, and Benin, generally prefer to purchase regular personal cooling devices from unorganized retailers due to their low cost and increased availability. This has reduced the market share of organized retailers operating in these countries. Moreover, unorganized retailers contribute to the volume of sales in the global personal cooling device market, whereas organized retailers add revenue to the global personal cooling device market. Due to this, the growth of the unorganized sector in the global personal cooling device market is expected to hamper market growth during the forecast period
This personal cooling device market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global personal cooling device market as a part of the global household appliances market within the global household durables industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the personal cooling device market during the forecast period.^^^
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the personal cooling device market encompasses successful business strategies deployed by the key vendors. The personal cooling device market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The personal cooling device market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the personal cooling device market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global household durables industry includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
For more insights on the market share of various regions Request PDF Sample now!
52% of the market’s growth will originate from APAC during the forecast period. China, Japan, and Australia are the key markets for the personal cooling device market in APAC. Market growth in this region will be faster than the growth of the market in regions.
The cost-effective supply chain for personal cooling devices will facilitate the personal cooling device market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The personal cooling device market in APAC faced a few challenges due to the spread of COVID-19 in 2020. In India, manufacturing operations were halted due to the imposition of a nationwide lockdown. China, Japan, South Korea, and India were a few of the countries that were severely affected by the pandemic. Governments in APAC introduced restrictions on business operations and social gatherings. Reduction in customer footfalls in stores and the adoption of the work-from-home model by offices further decreased the demand for personal cooling devices in APAC in 2020. However, essential industries, such as food and beverage, chemical, and pharmaceuticals, operated at the usual utilization rates. The lockdown restrictions were relaxed in the first half of 2021, owing to the rise in vaccination drives held in APAC. This led to the resumption of operations in personal cooling device manufacturing plants, which helped the regional market in focus to regain growth in the first half of 2021. Such factors are expected to fuel market growth in the region during the forecast period.
To gain further insights on the market contribution of various segments Request a PDF Sample
The personal cooling device market share growth in the personal air conditioner segment will be significant during the forecast period. Tower fans have sleek designs and are mostly remote-controlled. These fans come in attractive designs and are safe to use and easy to clean. Compared with conventional fans, bladeless fans can multiply airflow by 15 times. These factors are expected to positively impact the personal air conditioner or desk fans segment of the global personal cooling device market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the personal cooling device market size and actionable market insights on the post-COVID-19 impact on each segment.
Personal Cooling Device Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.28% |
Market growth 2022-2026 |
$1.73 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.0 |
Regional analysis |
APAC, Europe, North America, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 52% |
Key consumer countries |
US, China, Japan, Australia, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.