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The portable evaporative air cooler market share is expected to increase by USD 103.19 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.1%.
This portable evaporative air cooler 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 portable evaporative air cooler market segmentation by type (semi-automatic and automatic), end-user (residential and commercial), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The portable evaporative air cooler market report also offers information on several market vendors, including Aidapt BV, Aolan Industry Co Ltd., Bajaj Electricals Ltd., Blue Star Ltd, Breezewell Developers Pvt Ltd, De Longhi S.p.A, Guangdong Symphony Keruilai Air Coolers Co. Ltd., Havells India Ltd, Hessaire Products Inc., Honeywell International Inc., Ken Lifestyles Pvt. Ltd., MIDEA Group Co. Ltd., Seeley International Pty Ltd., Shenzhen Lianchuang Technology Group Co. Ltd., Symphony Ltd., Tata Sons Pvt. Ltd., Whirlpool Corp., Fujian Jinghui Environmental, NewAir, and Waterlogic Holdings Ltd among others.
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Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the portable evaporative air cooler market. During the COVID-19 pandemic, the demand for the portable evaporative air cooler market has been impacted significantly. A holistic analysis of drivers will help in exact demands and refining marketing strategies to gain a competitive advantage.
Key Portable Evaporative Air Cooler Market Driver
Increased residential development activity is one of the key factors driving the global portable evaporative air cooler market growth. The growth in the housing market is mainly propelled by the increased adoption of modern residential dwellings, improved economic conditions, and increased consumer spending power. New residential constructions and purchases are increasing in the US, even though the momentum is still slow. At present, household appliances (such as portable evaporative air coolers) are becoming popular in new residential establishments. The expansion of the residential construction industry will also increase demand for portable evaporative air coolers in the US and globally. The US construction market is mainly driven by economic growth and the increased demand for residential dwellings across different states across the country, which will increase the market growth during the forecast period. Owing to the surge in demand for residential housing, this is expected to fuel the growth of the portable evaporative air cooler market during the forecast period.
Key Portable Evaporative Air Cooler Market Trend
The increased adoption of omnichannel distribution and multi-channel marketing will fuel the global portable evaporative air cooler market growth. The preference for online shopping for household appliances (such as portable evaporative air coolers) among residential users witnessed significant growth over the last couple of years. The growth of the online retail sales channel and the adoption of multichannel business models have fueled the market. Certain vendors, such as Symphony Limited, sell their products through physical stores as well as online portals. The availability of the online channel widens the visibility of such products. This, along with the availability of a wide product portfolio, contributes to the growth of the online retail channel. The success of online retailing can be attributed to customer reach and inventory management cost-cutting. Nowadays, hectic lifestyles also restrict users from shopping for household appliances through offline distribution channels due to the lack of time. This increases the use of online shopping portals for the purchase of portable evaporative air coolers. Such factors are expected to drive the growth of the global portable evaporative air coolers market during the forecast period.
Key Portable Evaporative Air Cooler Market Challenge
Stringent government standards and regulations are the major challenges to the global portable evaporative air cooler market growth. The growing population and increasing environmental pollution are driving governments of various nations to set guidelines for manufacturers to decrease pollution. Also, vendors are mandated to adhere to various federal, state, and other government rules and regulations. These regulations are related to energy, product description, packing and labeling, hazards or safety issues associated with users, and the product lifecycle. Most regulations are imposed by different governments to ensure the safety of end-users and conserve the environment and natural resources. Manufacturers of portable evaporative air coolers need to follow certain government regulations in different regions. These products should be labeled with energy-efficiency ratings and product information. The European Commission is encouraging people to use energy-efficient household appliances (such as portable evaporative air coolers) to save utility costs and energy. The implementation of these regulations makes it difficult for manufacturers to penetrate potential markets, which will limit the growth of the portable evaporative air coolers market during the forecast period.
This portable evaporative air cooler 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 portable evaporative air cooler market as a part of the global household appliances market within the global household durables industry. Our research report has extensively covered the external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the portable evaporative air cooler 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 portable evaporative air cooler market encompasses successful business strategies deployed by the key vendors. The portable evaporative air cooler 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 report portable evaporative air cooler market contains comprehensive market knowledge and an in-depth vendor landscape added on to an analysis of the key vendors.
Our report provides extensive information on the value chain analysis for the portable evaporative air cooler 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.
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40% of the market’s growth will originate from North America during the forecast period. The US is the key market for portable evaporative air cooler market in North America. Market growth in this region will be slower than the growth of the market in regions.
The increased residential development activity will facilitate the portable evaporative air cooler market growth in North America 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
In 2020 and 2021, the market in North America witnessed a temporary decline due to the COVID-19 outbreak. Many end-user sectors, especially the commercial and industrial sectors, partially shut down their operations due to the pandemic. This severely affected the economies of various countries and hampered trade in North America. The temporary shutdown of commercial and industrial end-user establishments resulted in the halt of operations, which reduced the use of portable evaporative air coolers and limited the growth of the regional market in 2020 and the first half of 2021. However, the deployment of heating, ventilation, and air conditioning (HVAC) systems increased in the residential sectors due to the adoption of the work-from-home (WFH) module, which positively impacted the regional market. In 2021, the mass vaccination drives and various government initiatives resulted in the resumption of business operations and the removal of lockdowns. Therefore, these factors are expected to increase the demand for portable evaporative air coolers, which, in turn, will drive the growth of the regional market during the forecast period.
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The portable evaporative air cooler market share growth by the semi-automatic segment will be significant during the forecast period. Semi-automatic portable evaporative air coolers can be cleaned easily. Rising incomes, coupled with rapidly changing preferences, will drive the demand for semi-automatic machines during the forecast period. These machines are energy-efficient and water-efficient and, thus, offer cost advantages to consumers. Such factors are expected to drive the growth of the semi-automatic segment, which, in turn, will drive the growth of the portable evaporative air cooler market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the portable evaporative air cooler market size and actionable market insights on the post-COVID-19 impact on each segment.
Portable Evaporative Air Cooler Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.1% |
Market growth 2022-2026 |
$103.19 million |
Market structure |
Fragmented |
YoY growth (%) |
3.74 |
Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
Performing market contribution |
North America at 40% |
Key consumer countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Aidapt BV, Aolan Industry Co Ltd., Bajaj Electricals Ltd., Blue Star Ltd, Breezewell Developers Pvt Ltd, De Longhi S.p.A, Guangdong Symphony Keruilai Air Coolers Co. Ltd., Havells India Ltd, Hessaire Products Inc., Honeywell International Inc., Ken Lifestyles Pvt. Ltd., MIDEA Group Co. Ltd., Seeley International Pty Ltd., Shenzhen Lianchuang Technology Group Co. Ltd., Symphony Ltd., Tata Sons Pvt. Ltd., Whirlpool Corp., Fujian Jinghui Environmental, NewAir, and Waterlogic Holdings 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product Type
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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