Portable Evaporative Cooler Market Share and Size Report 2028

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Portable Evaporative Cooler Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Direct Evaporative Cooling and Indirect Evaporative Cooling) and Application (Residential, Commercial, and Industrial)

Publication Month: Feb 2023 | Report Code: TIPRE00029822 | No. of Pages: 140 | Category: Manufacturing and Construction | Status: Published

The portable evaporative cooler market is expected to grow from US$ 2,475.98 million in 2022 to US$ 4,036.55 million by 2028; it is estimated to record a CAGR of 8.5% from 2022 to 2028.

The improving economic conditions across the world, coupled with urbanization, have led to increased disposable income of individuals. Technological advancements and changes in government and organizational regulations for energy consumption are contributing to the demand for portable evaporative coolers. Urbanization and increasing population in economies such as China and India have led to enormous demand for coolers. Therefore, to fulfill the growing demand for coolers in a dry climate, manufacturers are adopting product innovation or new product launch strategies. Below mentioned are a few organic strategies:

  • In September 2022, Hessaire Products, Inc. expanded its portable evaporative cooler line by introducing coolers in different colors. To address customer’s requirements related to style and color, the company introduced MC18MT (teal blue), MC18M (off-white), MC18V (forest green), and MC18S (sand color) that can be used on evaporative cooler mode or fan-only mode.
  • In March 2021, Voltas, India's undisputed leader in cooling products, announced that it had broadened its product portfolio by including a range of 'Voltas Fresh Air Coolers'. The coolers are available in an array of tank capacities and sub-categories, including desert coolers, room air coolers, window coolers, tower coolers, and personal coolers.

Therefore, with continuous product launches and related strategies, the scope of using portable air coolers will grow in the coming years, fueling the overall portable evaporative cooler market growth.

Portable Evaporative Cooler Market - Strategic Insights

Report Coverage - Portable Evaporative Cooler Market
Report CoverageDetails
Market Size Value inUS$ 2,475.98 million in 2022
Market Size Value byUS$ 4,036.55 million by 2028
Growth rateCAGR of 8.5% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages140
No. of Tables56
No. of Charts & Figures70
Historical data availableYes
Segments coveredType, and Application
Free Sample Copy Available

Impact of COVID-19 Pandemic on Portable Evaporative Cooler Market

The COVID-19 pandemic across the world has led to negative downfall across majority of the industries, including manufacturing & construction and electronics & semiconductors. Also, the majority of the companies in the portable evaporative cooler market witnessed a delay in their product deliveries during the FY 2020 due to several challenges such as labor unavailability, stringent company operation regulations, lockdown measures, and shifted focus of government from development to COVID-19 outbreak control measures. Also, the companies operating in the portable evaporative cooler market have witnessed many supply chain challenges from the procurement of raw materials to the inventory and delivery of portable evaporative cooler products to their customers.

Also, during FY 2020, the demand for evaporative coolers was declined due to health challenges as customers worldwide were focused on staying at home with limited resources. Such factors have negatively impacted the portable evaporative cooler market growth.

Lucrative Regions for Portable Evaporative Cooler Market

Lucrative Regions for Portable Evaporative Cooler Market

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Market Insights – Portable Evaporative Cooler Market

Asia Pacific consists of most of the world’s highly populated countries, such as China, India, and Japan, which has led to the harsh impact of the COVID-19 pandemic on these countries. Moreover, the temporary shutdown of industrial facilities disrupted industrial and commercial operations due to the reduction in demand caused by the pandemic. Moreover, the pandemic has raised concerns regarding the reduction in investments under the commercial and industrial sectors across Asian countries such as India, Japan, South Korea, and other Southeast Asian countries.

However, the highest impact countries across the Asia Pacific portable evaporative cooler market in 2020 is China followed by India and Japan. Also, one of the major vendors of portable evaporative cooler market i.e., Symphony Limited, based in India has announced that it has witnessed a decline of nearly 17.5% in its FY 2020 revenues compared to 2019. However, the Asia Pacific portable evaporative cooler market has witnessed a decline of 21.5% on y-o-y basis compared to its previous FY 2019, which is expected to regain and surpass its share in the portable evaporative cooler market by the end of FY 2022, according to the research study.

Type-Based Insights

Based on type, the portable evaporative cooler market is bifurcated into direct evaporative cooling and indirect evaporative cooling. The direct evaporative cooling segment is expected to dominate the global portable evaporative cooler market by 2028. Companies such as Oxycom, Munters, Dr. Energy Saver, and Evapoler Eco Cooling Solutions are offering direct evaporative cooling solutions. Since direct evaporative coolers are available in a form of small window and portable units for cooling a small and large space, this type is majorly getting adopted for home use. Additionally, a direct portable evaporative cooling system works exceptionally well in dry and hot climates where it is feasible to add humidity to air while cooling the temperature. Therefore, demand for this type of portable evaporative cooling in areas such as Southeastern (the US) is high. Similarly, different areas of India such as Maharashtra, Gujarat, Punjab, Delhi, Madhya Pradesh, and Rajasthan are witnessing demand for the residential portable evaporative cooler market. This factor is projected to create lucrative business opportunities for portable evaporative cooler market players during the forecast period.

The portable evaporative cooler market is bifurcated on the basis of type and application. Based on type, the portable evaporative cooler market is segmented into direct evaporative cooler and indirect evaporative cooler. Based on application, the portable evaporative cooler market is segmented into residential, commercial, and industrial.

The portable evaporative cooler market players are mainly focused on the development of advanced and efficient products.

  • In April 2021, Portacool, LLC, the Texas-based global leader in evaporative cooling solutions, added a new product called Portacool 510 to its portacool evaporative cooler lineup.
  • In August 2019, Symphony Limited launched a commercial portable air cooler range under the brand Movicool, which can cool large spaces, especially for commercial applications.

Frequently Asked Questions

The portable evaporative cooler market is expected to register an incremental growth value of US$ 1,560.57 million during the forecast period
The global market size of portable evaporative cooler market by 2028 will be around US$ 4,036.55 million
Direct evaporative cooling segment is expected to hold a major market share of portable evaporative cooler market in 2022
China is expected to hold a major market share of portable evaporative cooler market in 2022
India, China, and South Africa are expected to register high growth rate during the forecast period
Asia Pacific is expected to register highest CAGR in the portable evaporative cooler market during the forecast period (2022-2028)
Symphony Limited, Portacool Inc, Coolboss LLC, Schaefer, Texel, and Honeywell International Inc are the key market players expected to hold a major market share of portable evaporative cooler market in 2022
Growing Demand for Coolers Among Commercial Applications
1. Increasing Adoption of Evaporative Cooling in Residential Sector
2. Organic Strategies by Manufacturers to Meet Customers Demand
The estimated global market size for the portable evaporative cooler market in 2022 is expected to be around US$ 2,475.98 million

The List of Companies - Portable Evaporative Cooler Market

  1. Delta T LLC
  2. Evapoler Eco Cooling Solutions
  3. Hessiare Products Inc.
  4. Newair
  5. Portacool LLC
  6. Vankool Technology
  7. Honeywell International Inc
  8. Metalurgica Manlleuense SA
  9. Symphony Limited
  10. Phoenix Manufacturing Inc
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global portable evaporative cooler market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global portable evaporative cooler market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
TIPRE00029822
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