This site uses cookies, including third-party cookies, that help us to provide and improve our services. Read More

Evaporative Air Coolers Market

Evaporative Air Coolers Market

Evaporative Air Coolers Market Analysis by Product Type (Portable Cooler, Window Mounted Cooler, Personal Cooler), by Material (Fiber, Metal, Plastic), by Water Tank Capacity, by Effective Cooling Area, by Sales Channel, by End Use & Regional Forecast 2022-2032

Evaporative Air Coolers Market
FACT840MR

Global Evaporative Air Cooler Market Outlook

The global evaporative air cooler market is estimated at USD 6.7 Billion in 2022 and is forecast to reach USD 10.8 Billion by 2032, growing at a CAGR of 4.8% from 2022 to 2032.

Report Attributes

Details

Market size value in 2021A

USD 6.5 Billion

Market value estimated in 2022E

USD 6.7 Billion

Market forecast value in 2032F

USD 10.8 Billion

Global Growth Rate (2022-2032)

CAGR 4.8%

East Asia Market Share in 2022

36%

East Asia Growth Rate (2022-2032)

CAGR 4.6%

Market Share of Top 5 Companies

~23%

Key Companies Profiled

  • Symphony Limited
  • Bajaj Electrical Limited
  • Honeywell International Inc
  • Havells India Ltd
  • Vertiv Group Corp
  • Usha International Limited
  • Porta cool LLC
  • Seeley International Pty Ltd
  • Hessaire Products Inc
  • Sky Air Cooler
  • Arctic
  • Delta T
  • Eva polar

Fact.MR- a market research and competitive intelligence provider, foresee a thriving growth in evaporative air coolers demand. The global evaporative air coolers market is expected to grow at 4.8% CAGR during 2022-2032 and surpass the value of USD 10 Bn by the end of 2032. The global home appliances market is expected to reach a valuation of USD 170 Bn by the end of 2022, which is expected to hold about 4% of market share.

Increasing awareness of global warming, rising global temperatures, intensified adoption of home cooling appliances, and consistent product innovations are few of the prime drivers impacting future growth of the evaporative air coolers market. The rise in spending power of consumers in developing regions, and changing attitudes towards luxury lifestyle are encouraging adoption of air cooling systems.

The market is also marked by merger and acquisition activities that assist market players to strengthen their global market position. Despite at the budding stage, e-commerce and digital media platforms are considered as the upcoming sales channels that can enhance product exposure and increase the number of sales. The direct sales segment in sales channel is expected to hold a market share of 26% by the end of 2032 with a growth rate of 4.0%.

In addition, growing adoption of sustainable approaches can boost the sales of sustainable and energy-saving evaporative air coolers. While the demand is estimated to grow at a steady pace, emergence of low cost and efficient cooling technologies is likely to increase the future adoption of evaporative air coolers.

Evaporative Air Coolers Market Historical Outlook (2017-2021) Vs. Forecast Outlook (2022-2032)

  • North America based evaporative air coolers market is expected to have a revenue share of 13% in 2022 and is likely to reach a valuation of USD 1.5 Bn by 2032 with a growth rate of 5.6%.
  • The Europe region is presumed to hold market value of around USD 609 Mn by the end of 2022 owing to high technology adoption rate.
  • The window mounted cooler as product type is expected to be valued at USD 2.1 Bn by 2032 with a growth rate of 5.3%.
  • By end use, residential sector holds a maximum growth rate of 5.4% with the market share of 57% by the end of 2032.
  • Under water tank capacity, 71-120 liters segment is expected to hold market share of 15% in 2022 and is likely to reach a valuation of USD 1.7 Bn by the end of forecast period.
  • The tower cooler segment in product type is expected to grow at a CAGR of 3.9% over the period of 2022-2032.

How failure of cooling in humid weather to act as an industry challenge over air conditioner?

Evaporative air coolers work at their highest efficiency in hot and dry climate and are suitable for hot summers in sub-tropical regions. However, in the conditions of increased humidity, evaporative cooling principle proves inefficient.

On account of which, consumers with higher purchasing power prefer air conditioners over evaporative air coolers for better cooling solution in altering levels of temperature and humidity. Thus, the market is likely to witness staggering growth in major economic countries where energy efficient air conditioners remain a preferred choice.

How rising adoption of sustainable consumer coolers is acting as opportunity?

CFC gas released by air conditioners have increased concentrations of hazardous greenhouse gases in the air that are responsible for global warming. To address the intensifying effects of global warming, world countries have signed international treaties and are adopting sustainable approaches in every area possible including construction and electronic appliances.

As evaporative air coolers are environment-friendly and consume only 5-10% of the electricity compared to the air conditioners. In addition, evaporative air cooler manufacturers are introducing energy-efficient technologies. For instance, Symphony air coolers are enabled with power-saving technology that cools 750 sq. ft. by using just 0.18 units per hour as compared to 1.8 units used by air conditioners.

In addition, air coolers can be used for both indoor as well as outdoor applications, whereas, an air conditioner proves ineffective in outdoor spaces. As adoption of sustainable approaches intensifies and novel technologies are implemented in the design of evaporative air coolers, the market has future growth opportunities during the forecast period.

Avail customized purchase options for your needs

How rental based program is driving the demand for evaporative air coolers?

As the new air cooling installations are costlier, numerous countries have started rental of evaporative air coolers. In particular, industrial applications of air cooler in small and middle-sized businesses prefer rental evaporative air coolers.

For example, U.S. air cooler market players are expanding their consumer reach by providing rental platforms for evaporative air coolers. In addition, dealers are adopting higher-than-planned inventory strategy before initiating business expansion.

How Alternative Products with low cost impacting negatively?

The market is persistently evolving due to implementation of innovations that promote energy-saving, cost-efficiency, as well as responsibility towards environment. Smarter consumers are not only comparing overall product cost but also checking technological efficiency and its cost.

Due to technological advances, overall cost of technology implementation has declined significantly over the past decade, making advanced technologies available for consumers at low cost. Alternative cooling technologies have emerged at lower rates and are averting consumers from adopting evaporative air coolers. In addition, evaporative air cooler has bulky appearance and poor aesthetic that does not fit in the infrastructures with modern design. Thus, lower cost alternatives with enhanced aesthetic can hamper the growth of the market during the review period.

An Adaptive Approach to Modern-day Research Needs

Country Wise Analysis

What are the driving factors of evaporative air coolers in China?

Significant climate change and temperature rise in China as well as other East Asian countries have impacted life styles of the population. This has necessitated the adoption of cooling systems by both residential as well as commercial sectors.

Rising global temperature due to global warming has intensified the sales of cooling appliances worldwide and is expected to rise by almost two fold by 2050. According to the estimations of the University of Birmingham, rise in energy usage will be prominently influenced by adoption levels in China and other hotter countries. By 2032, China is expected to hold more than 50% of market share in East Asia region.

Why India is a pivot point for evaporative air coolers manufacturers?

India represents expanding middle class that prefers cheaper alternatives of cooling systems. As compared to the humidifiers and air conditioners, evaporative air coolers deliver natural, energy saving, and cost-efficient cooling solution.

India is expected to grow at a CAGR of 4.2% by the end of 2032. Domestic manufacturers in India such as Symphony, Khaitan, Orient, Crompton Greaves, Voltas, and Bajaj among others dominate the local market and are expanding their geographical presence in the international market as well.

Evaporative Air Coolers Market forecast analysis by Fact.MR

Segment Wise Analysis

How demand from commercial sector is slated to remain prominent?

The global focus on sustainability has resulted in the adoption of green products and green energy solutions across various commercial establishments especially in the developed countries like U.S. Top manufacturers and suppliers of evaporative air coolers are increasing their production capacity to cater to the rising demand from other sectors.

The groceries and general merchandise sector showcases increased demand for energy efficient air cooling systems and the adoption of evaporative air coolers in this sector has witnessed a spur in the global market in the last few years. However, commercial sector is expected to be valued at USD 4.6 Bn by the end of 2032.

Under product type which segment is likely to witness accelerated growth?

Owing to using low power and therefore being environment friendly, the demand for portable air coolers will see an immense growth of 4.4% over the forecast period.

Such coolers make use of cloths drenched in water to make the cool environment. The portable cooler is expected to reach a valuation of USD 3.7 Bn by the end of 2032.

Competitive Landscape

Fact.MR has profiled the following key evaporative air coolers manufacturers in its report are Symphony Limited, Bajaj Electrical Limited, Honeywell International Inc, Havells India Ltd, Usha International, Porta cool LLC, Seeley International Pty Ltd, Hessaire Products Inc, Vertiv Group Corp, Sky Air Cooler, Arctic, Delta T, LLC (BigAss Fans) and Eva polar etc.

Key manufacturers are constantly innovating product designs to meet the modern day challenges pertaining to components placement in the engine environment. 

Global Evaporative Air Coolers Market Segments

  • By Product Type :-

    • Portable Cooler
    • Window Mounted Cooler
    • Personal Cooler
    • Tower Cooler
  • By Water Tank Capacity :-

    • 5-25 Liters
    • 26-50 Liters
    • 51-70 Liters
    • 71-120 Liters
    • 120 Liters and Above
  • By Material :-

    • Fiber
    • Metal
    • Stainless Steel
    • Plastic
  • By Effective Cooling Area :-

    • 100-399 Sq. ft.
    • 400-799 Sq. ft.
    • 800-999 Sq. ft.
    • 1000 Sq. ft. and Above
  • By Sales Channel :-

    • Direct Sales
    • Modern Trade
    • Specialty Stores
    • Online Stores
    • Departmental Stores
    • Other Sales Channel
  • By End Use :-

    • Residential Sector
    • Commercial Sector

- FAQs -

The market is likely to grow at the rate of 4.8% CAGR during the estimated period.
The market is likely to offer an absolute dollar opportunity of around USD 4.2 Bn during 2022-2032.
East Asia holds the leading market share of around 38% in 2022 and presumed to remain in same growth curve by the end of 2032.
Portable cooler segment as product type have the highest market share of 36% in 2022.
North America region is likely to offer great growth prospect with a market valuation of USD 880 Mn in 2022.
51-70 liters segment is poised to hold around 18% of the market share in 2032.

Need an Exclusive Report for your Unique Requirement?

- Related Reports -

Mill Liner Market

Mill Liner Market research report Segmented By Liner Material (Steel, Rubber, Composites, Others), b...

Spiral Cooler Market

Spiral Cooler Market research report covers detailed information on Global Spiral Cooler Market Size...

Metal Machinery Market

Metal machinery market will witness steady growth by 2031. Automated Metal Cutting & Forming Machine...

Slurry Seal Pavers Market

The slurry seal pavers market is set to grow at a 4.5% CAGR during 2021-2031. Rise in Industrializat...

- Our Clients -

Report Client

- Evaluate How Fact.MR's Report Can Help. -

Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.