Adiabatic Cooler Market Expected to Reach $1 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Adiabatic Cooler Market," The adiabatic cooler market size was valued at $626.80 million in 2022, and is estimated to reach $1 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032.

The increase in demand for adiabatic coolers is attributed to the surge in adoption of adiabatic coolers in various sectors. The adiabatic cooler market has experienced a surge owing to the growth in population and rise in the consumption of packaged food, beverages, meat products, dairy, and others. In addition, upgradation of existing cold storages in developing countries drives adiabatic cooler market expansion. Moreover, the adoption of eco-friendly and energy-efficient adiabatic coolers is a major factor driving the adiabatic cooler market growth. However, high initial costs act as restraints to the adiabatic cooler market. Contrarily, the technological developments in the adiabatic cooler are expected to provide lucrative growth opportunities to the market players in the coming years.  

Adiabatic coolers are used in the food & beverage industry, as these industries handle and produce products that need to be stored in a refrigerated environment to prevent their decay or deterioration. Adiabatic coolers are used to control the temperature and humidity in food processing facilities. It helps to maintain the ideal temperature in manufacturing facilities and storage areas to ensure product quality. 

In addition, the food & beverage industry has witnessed a surge in growth across the globe. The primary reason for the growth of the food and beverage industry is the increased disposable income of the people and the change in general lifestyle trends where dining out and fast food are promoted. Thus, various companies are expanding their production capabilities. For instance, in October 2022, Hi-Food, a subsidiary of CSM Ingredients, opened its new headquarters and production plant for producing and developing ingredients for the food and beverage sectors in Parma, Italy. All such factors is anticipated to boost the demand for the adiabatic coolers market during the forecast period. 

In 2022, Asia-Pacific accounted for the highest share in the global adiabatic cooler market share, in terms of revenue. This is mainly attributed to the high concentration of the food and beverage industry, and industrial manufacturing facilities, along with a large population, which drives the growth of various other industrial sectors. On the other hand, LAMEA is expected to grow with the highest CAGR during the forecast period, owing to its high potential for industrialization, and growing food and beverages industry. 

Various manufacturers in the adiabatic cooler market outlook such as ALFA LAVAL, Baltimore Aircoil Company Inc., EVAPCO, Inc., and Guntner Group offer a wide variety of adiabatic coolers for industrial manufacturing, food and beverages, and chemical and petrochemical applications. For instance, in February 2022, Baltimore Aircoil Company (BAC) announced the launch of a new TrilliumSeries Adiabatic Cooler. The adiabatic cooler is ideal for applications that demand a combination of energy efficiency and limited water use. TrilliumSeries Cooler captures and reuses water, unlike once-through systems, and is optimized for adiabatic operation, a form of heat rejection that is more efficient than dry coolers and uses less water than evaporative cooling. Its innovative design maximizes both water and energy efficiency, minimizing costs.  

However, various businesses in the adiabatic cooler market have experienced difficulties in day-to-day operations owing to rise in inflation worldwide, especially in Europe, North America, Latin America, and Sub-Saharan Africa. The inflation, which is primarily driven by the Ukraine and Russia war, has led to higher prices of various raw materials used in the industry including metal, and has also led to fluctuations in the energy and food prices. 

Key Benefits For Stakeholders 

• The report provides an extensive analysis of the current and emerging adiabatic cooler market trends and dynamics.   

• In-depth adiabatic cooler market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2032.  

• Extensive analysis of the adiabatic cooler market is conducted by following key product positioning and monitoring of the top competitors within the market framework. 

• A comprehensive analysis of all regions is provided to determine the prevailing opportunities. 

• The Adiabatic Cooler Market forecast analysis from 2023 to 2032 is included in the report. 

• The key market players within the adiabatic cooler market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the adiabatic cooler industry.