Dublin, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The "Global Portable Evaporative Cooler Market: Analysis By Product Type (Direct Evaporative Cooling and Indirect Evaporative Cooling), By End-User, By Distribution Channel, By Region Size, Trends and Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
Following sustained attention on environmental awareness and energy-efficient solutions, the portable evaporative cooler market is exhibiting promising growth projections, according to a comprehensive analysis report. The market, which appreciated a valuation of US$2.41 billion in 2022, is anticipated to burgeon to US$3.94 billion by 2028.
Fueled by emerging trends in the residential and commercial sectors and leveraging current technological advancements, the demand for such cooling options is forecasted to soar, particularly in regions that prioritize sustainability and energy conservation.
Market Segmentation Insights:
- Product Type Evaluation: The report distinguishes between direct and indirect evaporative cooling, with the former commanding the majority market share thanks to its effective, low-cost operation, ideal for hot and low-humidity areas.
- End-User Overview: Residential applications emerge as the dominant segment, driven by the increasing need for cost-effective, energy-saving cooling options in personal living spaces.
- Distribution Channel Observations: While offline channels currently dominate market sales, the online segment is forecasted to ascend rapidly, attributed to the growing e-commerce landscape that offers consumers a vast selection and user-friendly shopping experiences.
Regional analysis indicates the Asia Pacific market as the frontrunner, backed by escalating urbanization and a burgeoning middle class with enhanced purchasing power.
Market Dynamics:
An analysis of market dynamics highlights rising global temperatures, pro-energy conservation regulations, and growing e-commerce as pivotal growth drivers, whereas challenges include seasonal limitations and stiff competition from air conditioning systems. A surge in the availability of hybrid cooling solutions and heightened demand in the commercial sector represent significant trends propelling market growth.
Competitive Landscape:
The global market is characterized by fragmentation with several vital industry players focusing on product innovation and diversification to cater to evolving consumer preferences. Newly introduced models like the three-in-one air cooler by Cool Boss™ exemplify the market's innovative trajectory, promising enhanced consumer attraction and market penetration. Similarly, aesthetically pleasing product variations from firms like Hessaire Products Inc. ensure the market remains vibrant and competitive.
The key players in the global portable evaporative cooler market are:
- Bajaj Electricals
- Honeywell International
- Orient Electric
- Symphony
- Meier Tobler Group
- Cool Boss
- Newair
- Kenstar
- Sunpentown International
- Vankool Technology
- Evapolar
- Hessaire Products
Regional Highlights:
- The U.S. market benefits from its hot climate, where such coolers are indispensable, combined with a mature e-commerce sector simplifying online purchases.
- In Europe, countries like Germany lead the marketplace owing to governmental energy-efficiency incentives boosting the adoption of portable evaporative coolers.
The thorough market analysis elucidates several avenues for market expansion and the increasingly important role of portable evaporative coolers in a world prioritizing cost-efficient, sustainable cooling solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $2.41 Billion |
| Forecasted Market Value (USD) by 2028 | $3.94 Billion |
| Compound Annual Growth Rate | 9.0% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Portable Evaporative Cooler: An Overview
2.2 Portable Evaporative Cooler Segmentation: An Overview
3. Global Market Analysis
3.1 Global Portable Evaporative Cooler Market: An Analysis
3.2 Global Portable Evaporative Cooler Market: Product Type Analysis
3.3 Global Portable Evaporative Cooler Market: End-User Analysis
3.4 Global Portable Evaporative Cooler Market: Distribution Channel 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
For more information about this report visit https://www.researchandmarkets.com/r/viu2po
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