Jersey City, New Jersey, May 10, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Portable Air Conditioner Market” By Type (Small Room, Medium Room, and Large Room), By Distribution Channel (Supermarket and Hypermarket, Specialty Store, Department Store, E-Commerce and Others), By Application (Residential and Commercial), and By Geography. According to Verified Market Research, the Global Portable Air Conditioner Market was valued at USD 682.91 Million in 2020 and is projected to reach USD 956.49 Million by 2028, growing at a CAGR of 4.30% from 2021 to 2028.
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Browse in-depth TOC on “Portable Air Conditioner Market”
202 - Pages
126 – Tables
37 – Figures
Global Portable Air Conditioner Market Overview
The rise in disposable income acts as a primary growth driver in the Global Portable Air Conditioner Market. According to World Bank data, the GDP per capita of India has increased from 2005.863 rupees in 2018 to 2099.599 rupees in 2019. A rise in disposable incomes, especially in developing economies like India and China elevates the standards of living, which makes these luxury items affordable in many households. Additionally, a portable air conditioner greater than 10000 BTU cooling capacity is also adopted by malls and other vast and enclosed spaces.
Another growth driver, which is centered on the growing use of energy-efficient and environmental products is increasing the attractiveness of portable air conditioners. Traditional home and office air conditioners pose a significant threat to the environment by leaking HFC refrigerant gases. These gases have immense potential for global warming and can make climate change 25% worse than today’s forecasts. In contrast to wall-mounted ACs, small personal air conditioners can offer a sustainable, energy-efficient option for a warming world. The Close Comfort unit, for example, only uses a tiny amount of refrigerant – about a fifth of normal air conditioners. This non-toxic gas is held in a welded refrigeration circuit, which keeps it inside permanently. COVID-19 has proved to be a positive influence on the market as the population across economies is forced to stay indoors, and hence it has resulted in the rise in demand for Portable Air Conditioners.
Key Developments in Portable Air Conditioner Market
• In 2018, Daikin Industries, Ltd. had announced the commencement of full-scale operations of a new air conditioner factory in Vietnam, by its subsidiary Daikin Air Conditioning Vietnam.
• In 2019, LG Electronics USA has expanded its award-winning line of energy-efficient dual-inverter room air conditioners with the launch of a new 14,000 BTU Smart Wi-Fi-enabled Portable Air Conditioner, joining three window models ranging from 9,500 to 22,000 BTUs.
• In 2020, Daikin Launched, “Carrime”, a Portable Air Conditioner, with help of the innovation platform, Daikin Launch X.
The major players in the market are Daikin Industries Ltd., Olimpia Splendid S.p.A, Whirlpool Corp., Lloyd Electric & Engineering Limited, LG Electronics Inc., Haier lnc., Midea Group, AB Electrolux, United CoolAir Corporation, Blue Star Limited, among others.
Verified Market Research has segmented the Global Portable Air Conditioner Market On the basis of Type, Distribution Channel and End User and Geography.
- Portable Air Conditioner Market by Type
- Small Room
- Medium Room
- Large Room
- Portable Air Conditioner Market by Distribution Channel
- Supermarket & Hypermarket
- Specialty Store
- Department Store
- E-commerce
- Others
- Portable Air Conditioner Market by Application
- Residential
- Commercial
- Portable Air Conditioner Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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