Portable Evaporative Cooler Market Share and Size Report 2028

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
  • Category : Manufacturing and Construction
  • Status : Published
  • No. of Pages : 140
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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 -

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Portable Evaporative Cooler Market: Strategic Insights

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
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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.

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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.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

What is the estimated global market size for the portable evaporative cooler market in 2022?

The estimated global market size for the portable evaporative cooler market in 2022 is expected to be around US$ 2,475.98 million

What are the driving factors impacting the portable evaporative cooler market?

1. Increasing Adoption of Evaporative Cooling in Residential Sector
2. Organic Strategies by Manufacturers to Meet Customers Demand

What is the future trend in the portable evaporative cooler market?

Growing Demand for Coolers Among Commercial Applications

Which are the key players holding the major market share of portable evaporative cooler market?

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

Which is the fastest growing regional market?

Asia Pacific is expected to register highest CAGR in the portable evaporative cooler market during the forecast period (2022-2028)

Which country is holding the major market share of portable evaporative cooler market?

China is expected to hold a major market share of portable evaporative cooler market in 2022

Which countries are registering a high growth rate during the forecast period?

India, China, and South Africa are expected to register high growth rate during the forecast period

What will be the global market size of portable evaporative cooler market by 2028?

The global market size of portable evaporative cooler market by 2028 will be around US$ 4,036.55 million

Which is the leading type segment in the portable evaporative cooler market?

Direct evaporative cooling segment is expected to hold a major market share of portable evaporative cooler market in 2022

What is the incremental growth of the portable evaporative cooler market during the forecast period?

The portable evaporative cooler market is expected to register an incremental growth value of US$ 1,560.57 million during the forecast period

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

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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