Dublin, May 17, 2023 (GLOBE NEWSWIRE) -- The "Portable Hvac Equipment Market By Product Type, By End User, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The portable HVAC equipment market size was $3,445.7 million in 2021 and is estimated to reach $5,536.9 million by 2031, registering a CAGR of 5.0% from 2022 to 2031.
Key Market Players
- LG Electronics Inc.
- Blue Star Limited
- AB Electrolux
- Orient Electric Limited
- Dyson Limited
- Haier Group Corporation
- Hitachi, Ltd
- Emerson Electric Co.
- Carrier
- Panasonic Corporation
- Daikin Industries, Ltd.
- Crompton Greaves Consumer Electricals Limited
- Honeywell International Inc.
- O2COOL, LLC
- Midea Group Co., Ltd.
Portable HVAC equipment includes portable fans, portable air-conditioners, and portable heaters. It is the portable and compact version of the HVAC equipment which can easily shift from one place to another place, easy to clean and operate. With the increasing demand for compact and technologically advanced consumer appliances, the manufacturers offer different types of portable HVAC equipment which is innovative and cost-efficient.
Key factors driving the growth of the portable HVAC equipment market include the rise in industrial applications of the portable air conditioner, the rise in trends for outdoor activity, the emergence of HCFC alternatives to influence manufacturing Strategies, the rise in popularity of smart and wi-fi-enabled portable HVAC, and the surge in the urbanized population.
People are majorly migrating from rural areas to metro cities in the search of job opportunities and staying there lifelong. This migration creates huge opportunities for real estate, hotels & restaurants, and hospitals & clinics, where portable HVAC equipment is potentially required.
The surge in the urbanized population creates a huge demand for portable HVAC equipment as people living in metro cities are considerably seeking a high standard of living. For instance, according to a report published by United Nations in 2018, a total of 55% of the world's population lives in urban areas, a proportion that is expected to increase to 68% by 2050.
Projections show that urbanization, the gradual shift in residence of the human population from rural to urban areas, combined with the overall growth of the world's population could add another 2.5 billion people to urban areas by 2050. The surge in the urbanized population is expected to fuel the growth of the portable HVAC equipment market.
Smart and upgraded household appliances not only require the advertisement to increase awareness about the products but also require a wide area distribution network.
A rapidly increasing number of large retail stores including supermarkets and hypermarkets in developing economies has enabled easier availability of white goods such as portable fans, portable heaters, and portable air conditioners as these stores help increase the sales of household appliances.
Supermarkets & hypermarkets and specialty stores have served as better distribution points for various consumer goods including air conditioners, fans, and heaters. The growing retail sector in developing countries such as India, China, Chile, Thailand, and other developing countries is expected to create more opportunities for portable HVAC equipment manufacturers in the upcoming years.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the portable HVAC equipment market analysis from 2021 to 2031 to identify the prevailing portable HVAC equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the portable HVAC equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global portable HVAC equipment market trends, key players, market segments, application areas, and market growth Strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 400 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $3445.7 million |
| Forecasted Market Value (USD) by 2031 | $5536.9 million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Key Market Segments
By Distribution Channel
- Hypermarkets and Supermarkets
- Specialty Stores
- Departmental Stores
- Online Retail
By Product Type
- Portable Fans
- Sub Type
- Desk Fans
- Tower Fans
- Pedestal Fans
- Portable Heaters
- Sub Type
- Propane Heater
- Radiant Heater
- Fan Heater
- Portable Air Conditioners
- Sub Type
- Small Room
- Medium Room
- Large Room
By End User
- Residential
- Commercial
For more information about this report visit https://www.researchandmarkets.com/r/en7ir2
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