Dublin, April 03, 2023 (GLOBE NEWSWIRE) -- The "Global Portable HVAC Equipment Market Size, Share & Industry Trends Analysis Report By Product Type, By End User, By Distribution Channel, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Portable HVAC Equipment Market size is expected to reach $4.5 billion by 2028, rising at a market growth of 5.0% CAGR during the forecast period.
Key Market Players
List of Companies Profiled in the Report:
- LG Electronics (LG Corporation)
- Panasonic Holdings Corporation
- Carrier Global Corporation
- Daikin Industries, Ltd
- Emerson Electric Co
- Hitachi, Ltd
- AB Electrolux (Electrolux)
- Blue Star Limited
- Haier Smart Home Co., Ltd. (Haier Group Corporation)
- Dyson Limited
Portable HVAC equipment is an appliance or equipment used to maintain a place's temperature and ventilation. Equipment for heating, ventilation and air conditioning includes fans, heaters, and air conditioners. Due to its many benefits, including its portability and ease of cleaning, portable HVAC equipment is frequently utilized in both home and commercial settings.
In developing nations, the requirement for electronic gadgets is rising significantly due to increasing disposable incomes and consumer standards of living. HVAC is the application of various technologies to regulate the humidity, temperature, and air quality in a closed space. These systems' main objective is to provide appropriate thermal comfort and better indoor air quality.
Mechanical engineering's HVAC system design subfield is founded on fluid mechanics, thermodynamics, and heat transport laws. HVAC can also be referred to as HVACR or HVAC&R where R stands for refrigeration. HVAC system plays an important role in residential structures like single-family homes, apartment complexes, hotels, and elderly care facilities.
HVAC systems are also widely used in commercial spaces like medium- to large offices, industrial buildings, skyscrapers, and hospitals, as well as in transportation like cars, trains, airplanes, and ships. HVAC systems are considered an integral part of marine environments where healthy and safe building conditions are governed concerning humidity and temperature using outside air. The high usage of these systems has also prompted manufacturers to introduce portability.
Market Growth Factors
Increasing demand for portable air conditioners
A portable air conditioner or spot cooler of 18000 BTU or more is employed for industrial purposes. Commercial portable air conditioners have several advantages.
These include preventing product faults that can occur due to temperature and humidity, spot cooling without a significant expenditure for an air conditioning system to an entire facility, and lowering the risk of human mistakes and worker impairment.
In addition, preserving clean air and an environment conducive to productive work in industrial facilities can also help to increase worker productivity and quality of work. This would further aid in propelling the growth of the portable HVAC equipment market.
Rising need for automated portable HVAC systems in homes and offices
One of the smart building technologies that are increasingly being used is building automation, which automates processes, reduces human interaction, improves HVAC system efficiency, stops energy waste, and decreases expenses. After the COVID-19 pandemic, organizations have again restarted.
Ordinarily, offices have enough space to accommodate few people. However, there are significant operational expenditures as a result of the old HVAC systems and office lighting's high energy consumption and constant operation. As a result, the portable HVAC equipment market is guaranteed to grow in the coming years.
Market Restraining Factor
Negative effects on one's health from a poorly maintained HVAC system
Mold and mildew favor damp, dark settings. Additionally, badly maintained HVAC equipment may be causing moisture and humidity to build up in undetectable places. For example, unintentionally circulating mold and mildew into the area by turning on contaminated heating or air conditioning.
Particle removal is the goal of HVAC filters. However, if they aren't routinely cleaned or changed, they could gather excessive allergens and disperse things like dander, pollen, and dust mites throughout the house. All of these factors operate against preserving a healthy environment inside a structure and impede market expansion.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 223 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $3213.2 Million |
| Forecasted Market Value (USD) by 2028 | $4481.2 Million |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Scope of the Study
Market Segments Covered in the Report:
By Product Type
- Portable Fans
- Portable Air Conditioners
- Portable Heaters
By End User
- Residential
- Commercial
By Distribution Channel
- Hypermarkets / Supermarkets
- Departmental Stores
- Specialty Stores
- Online Retail
- Others
By Geography
North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/jfdcej
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