Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Air Cooler Market Size is Estimated to Grow from USD 2.07 Billion in 2023 to USD 4.83 Billion by 2033, Growing at a CAGR of 8.84% during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Air Cooler Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Tower Coolers, Dessert Coolers, and Others), By Application (Commercial and Residential), By Distribution Channel (Supermarkets & Hypermarkets, Departmental Stores, Independent Small Stores, Online Retailers, Multi-brand Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Air coolers are air-cooling devices. They can be utilized in an open environment or a closed setting. The market development can be attributed to the growing need for affordable and energy-efficient cooling systems. Air coolers use a lot less energy than conventional air conditioners since they work on the evaporative cooling method. They are therefore a desirable choice for customers wishing to lower their carbon impact and electrical costs. Furthermore, air coolers are an environmentally friendly alternative to air conditioners that utilize refrigerants such as CFCs, HCFCs, and hydrofluorocarbons, which damage the ozone layer. Air coolers use water as a cooling agent. This supports the increased emphasis on adopting greener technologies and lowering greenhouse gas emissions on a worldwide scale. In addition, the increased demand for air coolers has been fueled by global extreme temperatures frequency and rising temperatures. Air coolers have been adopted at higher rates in regions that experience excessive heat, such as portions of Asia, Africa, and the Middle East, since they offer an affordable way to combat heat. However, the limited cooling capacity of the equipment is expected to impede the growth trend of the global air coolers industry.
The tower coolers segment accounted for the largest market share of 42.56% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the product, the air cooler market is categorized into tower coolers, dessert coolers, and others. Among these, the tower coolers segment accounted for the largest market share of 42.56% in 2023 and is expected to grow at a significant CAGR during the forecast period. Owing to their attractive appearance and ability to save space, these coolers which are recognized for their efficient and small design have grown in popularity. Tower coolers are especially well-liked in confined metropolitan areas. Small offices and apartments are perfect for them because of their vertical shape, which makes them fit into confined locations. Compared to conventional air conditioners, these products use less energy, making them an affordable choice for customers trying to lower their electricity costs.
The residential segment accounted for the highest market share of 78.24% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the air cooler market is classified into commercial and residential. Among these, the residential segment accounted for the highest market share of 78.24% in 2023 and is expected to grow at a significant CAGR during the forecast period. The need for household air coolers has increased due in part to the frequency of heat waves and the rising global temperatures. More residences are looking for efficient cooling solutions to keep their interior spaces comfortable as climate change continues to alter weather patterns. An environmentally safe and sustainable substitute for air conditioners that use dangerous refrigerants is air coolers, which use water as a cooling agent.
The multi-brand segment accounted for the highest market share of 30.59% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the air cooler market is divided into supermarkets & hypermarkets, departmental stores, independent small stores, online retailers, multi-brand stores, and others. Among these, the multi-brand segment accounted for the highest market share of 30.59% in 2023 and is expected to grow at a significant CAGR during the forecast period. These establishments serve a broad customer base looking for variety and value in one place because of their varied product offers and well-located spaces. Their ability to display a variety of brands encourages competitive pricing, which makes them preferred by consumers.
Asia Pacific is expected to hold the largest share of the air cooler market through the forecast period.
Asia Pacific is expected to hold the largest share of the air cooler market through the forecast period. The need for efficient cooling systems has increased in Asia-Pacific due to rising temperatures and an increase in the frequency of heat waves. Record-breaking temperatures in nations such as China, India, and Australia have increased demand for air coolers as both individuals and businesses seek ways to cool down from the extreme heat. In Southeast Asian nations, where high humidity levels make the need for effective cooling even more pressing, this tendency is especially noticeable.
North America is predicted to grow at the fastest CAGR of the air cooler market over the forecast period. Fueled by product innovations and technology breakthroughs during the projection timeframe. More attention is being paid by manufacturers to creating air coolers with cutting-edge features including improved cooling pads, smart connectivity, and remote-control operation. These developments increase the effectiveness of air coolers while also making them easier to use and more enticing to tech-savvy consumers. The market's expansion has also been greatly aided by increased disposable incomes.
Company Profiling
Major key players in the air cooler market include Voltas Limited, Bajaj Electricals Limited, Symphony Limited, Havells India Limited, Honeywell International Inc., Kenwood (a brand of De'Longhi Group), NewAir LLC, Usha International Ltd., Blue Star Limited, Crompton Greaves Consumer Electricals Limited, Kenstar, Luma Comfort Corporation, V-Guard Industries Ltd., Maharaja Whiteline, Orient Electric Limited, and others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the air cooler market based on the below-mentioned segments:
Global Air Cooler Market, By Product Type
Global Air Cooler Market, By Application
Global Air Cooler Market, By Distribution Channel
Global Air Cooler Market, By Regional Analysis
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