Air coolers work with basic air moving system that draws fresh air in from the outside and pushes it through wet cooling pads. The temperature of the air is lowered by the evaporation of water in these cooling pads, which is subsequently pushed out by the fan. Coolers that are designed for personal usage are known as portable air coolers. These technologies assist in the creation of a personal microclimate without intruding the personal space of those in the immediate vicinity. The coolers are low-cost tabletop devices that don't require any installation and require very little maintenance. Personal air coolers are effective humidifiers because they cool the air by evaporating water. The majority of personal air coolers serve as a conditioner, humidifier, and purifier. Portable air coolers are expected to find increased demand as a result of their low power consumption and thus environmental friendliness. To keep the environment cold, these air cooling devices use water-soaked pads. Consumers have more options now since there are so many varieties in the market, which has boosted growth even more.
COVID-19 Impact analysis
- The supply chain for consumer electronics is largely based in China. As prominent consumer electronics device OEMs and component OEMs have production facilities in China, the shutdown of manufacturing facilities in China has had a significant impact on the consumer electronics industry's entire ecosystem.
- COVID-19 pandemic continues to wreak havoc on manufacturing, construction, hospitality, and leisure industries, with the latter absorbing the brunt of the damage due to slowed sales and lower consumer spending.
- Consumers choose to buy basics like food and cleaning supplies over non-essential, other purchases such as air cooler due to reduced discretionary incomes and depressed consumer sentiment.
- Manufacturers now have the chance to advertise their products on an online platform thanks to Pandemic. Moreover, as people are locked at home, they turn to internet shopping to buy things, which might help the portable cooler industry.
Top Impacting Factors
- One of the primary elements that drive the growth of the personal air cooler market is rise in disposable income around the world. Increasing disposable income has resulted in increased purchasing power, which has contributed to an increase in the use of smart air coolers. With rising purchasing power, such things have evolved into a need-based product.
- The growing need for energy-efficient, low-power-consumption, and highly portable goods are driving the growth of the smart personal air cooler market. The portable air cooler market is developing due to rising hot weather conditions around the world, as well as growing ergonomic designs for both residential and commercial use.
- A noticeable change in lifestyle is another important driver of future growth in the worldwide portable air cooler market. As more individuals engage in outdoor activities for enjoyment, travel, and other purposes, market demand will rise. More individuals are in need of portable coolers, particularly those that are insect-resistant.
- Furthermore, since online platforms such as e-commerce sites and third-party websites have grown in popularity, portable air coolers have grown in popularity.
New product launches to flourish the market
New products that contain improved capabilities have been launched by leading market players. The market for portable coolers is projected to be dominated by tower coolers. It is predicted to grow at the quickest rate during the forecast period due to its beautiful design and compact size. Tower air coolers are more popular among consumers since they are more portable and cost less.
Furthermore, they are suitable with both dry and humid air, making them a popular choice among consumers. They have a tiny water tank and use less energy, making them more environmentally friendly. They can also be used with inverter operation without interruption due to a power outage due to their low power consumption.
Over the projected period, dessert air coolers and other air coolers such as personal, window, and micro portable air coolers are expected to increase significantly. It must be kept outside the room to retain its cooling capacity; otherwise, the cooling capacity would be compromised. Because of its cooling capacity, this product type requires more electricity than tower coolers.
In the commercial sector, evaporative air coolers are becoming increasingly popular
The global focus on sustainability has led to the adoption of green products and green energy solutions across a wide range of commercial organizations, particularly in Europe's developed countries. Top European air conditioning system manufacturers and suppliers are growing production capacity to meet rising demand from diverse industries.
In Europe, the grocery and general goods industry has seen an increase in demand for energy efficient air cooling systems, and the use of evaporative air coolers in this sector has seen a surge in the previous few years in the European market. In Latin America, demand for evaporative air coolers is increasing in retail and other major industries, owing to a growing preference for a cooler working environment in commercial businesses
Key Benefits of the Report
- This study presents the analytical depiction of the portable cooler industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the portable cooler market share.
- The current market is quantitatively analyzed to highlight the portable cooler market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed portable cooler market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Report
- Which are the leading players active in the portable cooler market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "Portable Cooler" Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "Portable Cooler" Market?
Portable Cooler Market Report Highlights
By Product Type
By Distribution Channel
Key Market Players
Rio Brands, Yeti, IceMule Coolers, OtterBox, Engel, RTIC, Pelican Products, ORCA, Igloo, Coleman