Research and Markets, the world’s leading source for international market research reports and market data, has recently published a report; titled: “Global Portable Evaporative Cooler Market: Analysis By Product Type (Direct Evaporative Cooling and Indirect Evaporative Cooling), By End-User (Residential, Industrial, and Commercial), By Distribution Channel, By Region Size, Trends and Forecast to 2028.”
According to the report, the global portable evaporative cooler market was valued at US$2.41 billion in 2022. The market value is expected to reach US$3.94 billion by 2028. The global portable evaporative cooler market has been on the rise due to increased environmental awareness, a growing need for cooling solutions in the face of rising temperatures, cost-effectiveness, and technological advancements.
As these factors continue to influence consumer choices and market dynamics, the market is expected to experience further growth in the forthcoming years. Portable evaporative coolers are likely to remain a popular and viable cooling option, particularly in regions where energy efficiency and sustainability are of paramount importance. The market is expected to grow at a CAGR of approx. 9% during the forecasted period of 2023-2028.
Important observations
The report distinguishes between direct and indirect evaporative cooling, with the former commanding the majority market share thanks to its effective, low-cost operation, ideal for hot and low-humidity areas.
Residential applications emerge as the dominant segment, driven by the increasing need for cost-effective, energy-saving cooling options in personal living spaces.
While offline channels currently dominate market sales, the online segment is forecasted to ascend rapidly, attributed to the growing e-commerce landscape that offers consumers a vast selection and user-friendly shopping experiences.
Demanding geographies
Regional analysis indicates the Asia Pacific market as the frontrunner, backed by escalating urbanization and a burgeoning middle class with enhanced purchasing power.
The US is home to regions with extreme temperatures, particularly in the South and Southwestern states, where evaporative coolers are an essential solution for cooling during hot summers. In addition, the increasing e-commerce market has had a positive impact on the growth of the US e-commerce market by providing consumers with a convenient and accessible platform for online shopping, leading to higher online sales and market expansion.
The German government’s incentives and policies aimed at promoting energy-efficient technologies have further stimulated the adoption of portable evaporative coolers. For instance, in Germany, the government’s Energiewende initiative includes various incentives to promote energy-efficient technologies, contributing to the adoption of portable evaporative coolers. The German government offers financial support and subsidies to individuals and businesses investing in energy-efficient appliances, including cooling systems, further contributing to the market growth.
Key players and their role
As per the report, the list of key players in the market includes: Bajaj Electricals Limited; Honeywell International Inc.; Orient Electric Limited; Symphony Limited; Meier Tobler Group AG (Portacool, LLC); Cool Boss, LLC; Newair; Kenstar; Sunpentown International Inc. (SPT); Vankool Technology Co.; Evapolar; and Hessaire Products Inc.
They are investing in product innovation to develop new and improved portable evaporative coolers. For example, in September 2023, Cool BossT introduced the CooleeT CL-240, a unique three-in-one portable air cooler. Compact and rechargeable, it combines an air cooler, ice chest and Bluetooth player in one go-everywhere package. On the other hand, in May 2023, Hessaire Products, Inc. rolled out its portable evaporative cooler in new colours. The MC18 now comes in a retro blue as well as three other colours and is available from many distributors.
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