Global Portable Evaporative Cooler Market Analysis Trends and Forecast to 2028, Featuring Bajaj Electricals, Orient Electric, Symphony, Meier Tobler, Cool Boss, Newair, Kenstar, Evapolar and More - ResearchAndMarkets.com

The "Global Portable Evaporative Cooler Market: Analysis By Product Type (Direct Evaporative Cooling and Indirect Evaporative Cooling), By End-User (Residential, Industrial, and Commercial), By Distribution Channel, By Region Size, Trends and Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global portable evaporative cooler market was valued at US$2.41 billion in 2022 and is expected to reach US$3.94 billion by 2028. The global portable evaporative cooler market has been on the rise due to increased environmental awareness, a growing need for cooling solutions in the face of rising temperatures, cost-effectiveness, and technological advancements. As these factors continue to influence consumer choices and market dynamics, the market is expected to experience further growth in the forthcoming years. Portable evaporative coolers are likely to remain a popular and viable cooling option, particularly in regions where energy efficiency and sustainability are of paramount importance. The market is expected to grow at a CAGR of approx. 9% during the forecasted period of 2023-2028.

Market Segmentation Analysis:

By Product Type: The direct evaporative cooling segment held the highest share of the market. As global temperatures rise, the demand for efficient cooling solutions has grown, and direct evaporative coolers are increasingly being adopted due to their simplicity and cost-effectiveness. These coolers are well-suited for dry and arid climates, as they work best in low humidity conditions. Their operation is straightforward, making them a popular choice for residential and commercial users seeking immediate relief from heat.

By End-User: The residential sector held the highest share in the market. In residential settings, these coolers often used in bedrooms, living rooms, and other areas within a home to keep indoor temperatures comfortable during the summer. As energy costs rise and environmental consciousness grows, homeowners are turning to portable evaporative coolers to maintain a cool and refreshing indoor environment, contributing to the expansion of this market segment.

By Distribution Channel: The Offline channel held the highest share in the market, whereas online channel is expected to be the fastest-growing segment in the forecasted period. Online marketplaces and e-commerce platforms provide a wide selection of evaporative cooler models, allowing customers to compare features, prices, and read reviews from other buyers. Moreover, the ease of accessing a broader range of brands and models has made online shopping increasingly popular for portable evaporative coolers, contributing to the overall growth of the online distribution channel in the market.

By Region: Asia Pacific held the major share of the market in 2022. In Asia Pacific region, the rapid urbanization and infrastructure development in the region have further propelled the market. Rising income levels and a growing middle class have made these cooling devices more accessible to a larger consumer base.

The US is home to regions with extreme temperatures, particularly in the South and Southwestern states, where evaporative coolers are an essential solution for cooling during hot summers. In addition, the increasing e-commerce market has had a positive impact on the growth of the US e-commerce market by providing consumers with a convenient and accessible platform for online shopping, leading to higher online sales and market expansion. The German government's incentives and policies aimed at promoting energy-efficient technologies have further stimulated the adoption of portable evaporative coolers.

Market Dynamics:

Growth Drivers: The global portable evaporative cooler market growth is predicted to be supported by numerous growth drivers such as growing e-commerce, rapid urbanization, rising purchasing power, increasing remote working, rising average earth temperature, favorable energy conservation regulations, rising awareness about the advantages over traditional coolers, and many other factors. As global temperatures rise due to climate change, the demand for effective cooling solutions also increases. Portable evaporative coolers are well-suited for hot and arid climates, where the need for cooling is most pronounced. They rely on the evaporation of water to lower air temperature, making them an energy-efficient and cost-effective alternative to traditional air conditioning systems. The rising temperatures in many parts of the world create a greater market need for cooling solutions, leading to increased sales and adoption of portable evaporative coolers.

Challenges: However, the market growth would be negatively impacted by various challenges such as seasonal use, competition with air conditioner, limited cooling range, etc.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as hybrid cooling solutions, increasing application in commercial sector, technological advancement, mass customization and personalization, etc. Hybrid cooling solutions, which combine portable evaporative coolers with other cooling methods like traditional air conditioning or ceiling fans, are expected to have a positive influence on the market growth of portable evaporative coolers in the coming years. This approach offers consumers a flexible and comprehensive solution for maintaining comfortable indoor environments. Portable evaporative coolers are particularly effective in dry and arid climates, where traditional air conditioning can be costly to operate. By integrating the two technologies, consumers can take advantage of the energy efficiency and eco-friendliness of evaporative cooling while still having the option of traditional cooling when needed, such as during extremely hot days.

Competitive Landscape:

The global portable evaporative cooler market is fragmented.

The key players in the global portable evaporative cooler market are:

• Bajaj Electricals
• Honeywell International
• Orient Electric
• Symphony
• Meier Tobler
• Cool Boss
• Newair
• Kenstar
• Sunpentown International
• Vankool Technology
• Evapolar
• Hessaire Products 

Key Attributes:

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis

4. Regional Market Analysis

5. Impact of COVID-19

6. Market Dynamics

6.1 Growth Drivers

6.1.1 Growing E-Commerce Industry

6.1.2 Rapid Urbanization

6.1.3 Rising Purchasing Power

6.1.4 Increasing Remote Working

6.1.5 Rising Average Earth Temperature

6.1.6 Favorable Energy Conservation Regulations

6.1.7 Rising Awareness about the Advantages over Traditional Coolers

6.2 Challenges

6.2.1 Seasonal Use

6.2.2 Competition with Air Conditioner

6.2.3 Limited Cooling Range

6.3 Market Trends

6.3.1 Hybrid Cooling Solutions

6.3.2 Increasing Application in Commercial Sector

6.3.3 Technological Advancements

6.3.4 Mass Customization and Personalization

7. Competitive Landscape

7.1 Global Portable Evaporative Cooler Market Players by New Product Launches

8. Company Profiles

• Bajaj Electricals Limited
• Honeywell International Inc.
• Orient Electric Limited
• Symphony Limited
• Meier Tobler Group AG (Portacool, LLC)
• Cool Boss, LLC
• Newair
• Kenstar
• Sunpentown International Inc. (SPT)
• Vankool Technology Co.
• Evapolar
• Hessaire Products Inc.

For more information about this report visit https://www.researchandmarkets.com/r/xw0fx6

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240531505721/en/