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2021
Portable Air Conditioner Market

Portable Air Conditioner Market

by Type (Small Room, Medium Room and Large Room), End User (Residential and Commercial), and Distribution Channel (Supermarket & Hypermarket, Specialty Store, Department Store, E-commerce and Others): Global Opportunity Analysis and Industry Forecast 2021-2027

Report Code: A10569
Pages: 331
Mar 2021 | 7604 Views
Author(s) : Anil K , Roshan D
Tables: 149
Charts: 83
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COVID-19

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The portable air conditioner market size was valued at $613.6 million in 2019, and is estimated to reach $945.4 million by 2027, registering a CAGR of 4.5% from 2021 to 2027. 

Portable air conditioner is an independent compact moveable machine for cooling single rooms. It does not require permanent installation like window, and central air conditioning unit’s needs. It is lightweight and 28" to 34" tall. Most of the portable air conditioners are with wheels so that people can take these from one room to another. The type of portable AC selected for the room is based on the size of the room. Surge in disposable income and standard of living and rise in spending on household comfort are anticipated to surge the growth of the portable AC market during the forecast period. People are increasingly adopting smart appliances to improve their life standard, so companies are expanding their business operations in the developing countries of the Asia-Pacific region. For instance, Daikin Industries, Ltd. announces the completion and recent start of full-scale operations of a new air conditioner factory in Vietnam by its subsidiary Daikin Air Conditioning Vietnam.

Portable-Air-Conditioners-Market,-2021-2027

The outbreak of the COVID-19 pandemic has positively affected the growth of the portable air conditioner market. Sales of portable air conditioner has witnessed significant increase as people are actively getting involved in home deigning and improvement during the lockdown period. Furthermore, consumers are choosing to replace their old home appliances including air conditioners, with new and advanced portable air conditioner. 

Portable air conditioners are also used in commercial buildings to maintain temperature of the machines occupied room. Most of the machines including generators are expected to release heat due to 24/7 working operations. In such conditions, portable AC plays a vital role to control the temperature of the room. Commercial buildings with such utility of the portable ACs are supermarket/hypermarkets, residential buildings, and commercial complexes. Commercial building segment is experiencing growth at a high pace due to urbanization, which is expected to increase the demand for portable AC during the forecast period. Surge in adoption of automation in major industries has been further adding to the growth of the smart and advanced portable air conditioner. Furthermore, people are preferring to have smart and advanced white goods to increase the standard of life.  

Portable Air Conditioner Market
By Type

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Medium Room segment helds the major share of 55.5% in 2019

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According to the portable air conditioner market analysis, the portable air conditioner market is segmented into type, end user, distribution channel, and region. On the basis of type, the market is categorized into small room, medium room and large room. By end user, it is segregated into residential and commercial. According to distribution channel, it is divided into supermarket & hypermarket, specialty store, department store, e-commerce and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, Spain, Italy, France, Germany, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Indonesia, Thailand, Australia, Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, Africa).

On the basis of type, the medium room portable AC segment has been gaining major share in the global portable air conditioner market and is expected to sustain its share during the forecast period. The size of the room consider for the room is 350 sq. ft. to 700 sq. ft.. Generally, in metropolitan cities, hall, bedroom, kitchen and study room are with such dimensions, where medium room portable AC can be used. The British thermal Unit (BTU) required for the medium room is 9000 to 18000. One BTU refers to the amount of energy that's required to increase the temperature of a pound of water by 1°F. Furthermore, it is also suitable choice for the small offices and independent shops where 4—5 employees work. It is an economical choice of most of the people as it is used for small and medium sized rooms. Rise in advancement and innovations in the portable AC is anticipated to propel the growth of the portable AC market during the forecast period. For instance, portable air conditioners are available with Wi-Fi connectivity, electronic control, and voice control which has been gaining major popularity among the customers.  

Portable Air Conditioner Market
By End User

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Residential segment helds the major share of 88.6% in 2019

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According to portable air conditioner market trends, depending on end user, the residential segment was valued at $543.4 million in 2019, and is expected to reach $817.8 million by 2027, with a CAGR of 4.2%. Surge in advancement in the portable air conditioners and increase in disposable income of the people are expected to drive the portable air conditioner market growth through residential segment. Rise in adoption of the smart home appliances to get comfort and to improve the standard of living is anticipated to favor the growth of the portable AC market during the forecast period. Furthermore, portable air conditioners are found to be a suitable choice for the tenant as they do not require to take permeation form the landlord to install split or window AC, which has tedious installation procedure. 

On the basis of distribution channel, the specialty store segment is projected to grow at $ 273.7 million by 2027, registering a CAGR of 3.6%. The specialty store segment accounted for the around one-third half of the global portable air conditioner market share in 2019, and is expected to sustain its share during the forecast period. Specialty store is a retail store that focuses on specific product categories, as opposed to retailers who sell a large number of consumer goods categories.. Main advantage of the specialty store for portable AC is that the people can compare products with other bands with single product category. As specialty stores of the portable air conditioner holds different types, brands and models of the portable air conditioners. Surge in breakthrough innovations and advancements in the white goods including portable AC is anticipated to motivate manufacturers to sell their product through specialty stores, where customers can get optimum knowledge regarding the product as compared to other distribution channels.

Portable Air Conditioner Market
By Distribution Channel

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Specialty Store segment helds the major share of 30.9% in 2019

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Region wise, Asia-Pacific dominated the portable air conditioner market in 2019, and is expected to sustain its dominance throughout the forecast period. Increase in standard of living, rise in disposable income, and high spending on the home improvement such as interior designing are some of the factors influencing the growth of the market in the Asia-Pacific region. Portable air conditioner has been gaining major traction in this region owing to growing urbanization and commercialization, where portable air conditioners are majorly used to control the temperature of the rooms. The small room portable air conditioner market has been experiencing healthy growth in the developing countries of the Asia-Pacific region including India and China. This is on account of strengthening the residential sector, growing retail & hospitality sectors, and rising construction activities across new housing societies along with establishment of SMEs & commercial hubs. For instance, according to World Bank, 60.6% of the total population in China live in urban areas.

The players operating in the global portable air conditioner market have adopted various developmental strategies to expand their portable air conditioner market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Lloyd Electric & Engineering Limited, LG Electronics Inc., Midea Group, AB Electrolux, United CoolAir Corporation, Blue Star Limited, Haier lnc., Daikin Industries Ltd., Olimpia Splendid Spa and Whirlpool Corp. 

Portable Air Conditioner Market
By Region

2027
Europe 
North America
Asia Pacific
LAMEA

North America region helds the higest market share of 33.5% in 2019

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Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assist to determine the prevailing portable air conditioner market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the portable air conditioner industry.

Portable Air Conditioner Market Report Highlights

Aspects Details
By Type
  • SMALL ROOM
  • MEDIUM ROOM
  • LARGE ROOM
By End User
  • RESIDENTIAL
  • COMMERCIAL
By Distribution Channel
  • Supermarket & Hypermarket
  • SPECIALTY STORE
  • DEPARTMENTAL STORES
  • E-COMMERCE
  • OTHERS
By Region
  • NORTH AMERICA  (US, CANADA, MEXICO)
  • EUROPE  (RUSSIA, SPAIN, ITALY, FRANCE, GERMANY, UK, REST OF EUROPE)
  • ASIA-PACIFIC  (CHINA, JAPAN, INDIA, SOUTH KOREA, INDONESIA, THAILAND, AUSTRALIA, REST OF ASIA-PACIFIC)
  • LAMEA  (LATIN AMERICA, MIDDLE EAST, AFRICA)
Key Market Players .Lloyd Electric & Engineering Limited, LG Electronics Inc, Midea Group, AB Electrolux, United CoolAir Corporation, Blue Star Limited, Haier lnc., Daikin Industries Ltd.,, Olimpia Splendid Spa,, Whirlpool Corp.
 

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The global portable air conditioners market exhibits high growth potential in the developing economies such as India and China, owing to increase in personal disposable income and high spending for improving high standard of living. People are actively replacing old consumer durables goods with smart and highly technological advanced consumer durable goods including portable air conditioners, refrigerators, microwave ovens, water heaters and vacuum cleaners. Now a days, consumer durables manufacturing companies are making advanced and smart featured home and commercial appliances. Wi-Fi connectivity, voice and remote control and smart phone compatibility featured portable air conditioners are expected to attract consumers and create huge demand during the forecast period.

Rapid expansion of the retail industry plays a major role in the distribution of portable air conditioner. It is becoming more important to make portable air conditioner available to the consumers. Specialty stores and supermarket & hypermarkets are gaining major traction in the global portable air conditioner market. This is majorly attributed to availability of enormous options for the consumers to choose from. Multi brand specialty stores have many brands for the single line product segment, where people can compare their features and colors, which help them to take buying decisions. `

However, lack of proper electrification in rural areas and distribution of channels are the major challenges for growth of the portable air conditioner market in the rural sector. Manufacturers need to address correct need, requirements and affordability of the rural consumers and accordingly portable air conditioner should be designed, which can be the biggest challenge for the portable air conditioner manufacturers.  

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FREQUENTLY ASKED QUESTIONS?

A. The portable air conditioner market size was valued at $613.6 million in 2019,

A. The CAGR of the portable air conditioner market is 4.5% from 2021 to 2027.

A. Please visit website and request for sample or you can drop mail at help@alliedmarketresearch.com.

A. the portable air conditioner market is segmented into type, end user, distribution channel, and region.

A. Lloyd Electric & Engineering Limited, LG Electronics Inc., Midea Group, AB Electrolux, United CoolAir Corporation and Blue Star Limited are some of the top companies in the portable air conditioner market.

A. Emergence of HCFC alternatives and energy efficient household appliances are the key trends which favors the growth of the market during the forecast period.

A. 2021-2027 is the forecast period.

A. Medium room portable air conditioner market has been holding the highest market share in global portable air conditioner market 2019.

A. COVID-19 pandemic has witnessed positive impact on global portable air conditioner market.

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