Allied Market Research recently published a report on the portable air conditioner market. The analysis released on the global portable air conditioner industry is estimated to reach $945.4 million by 2027, at a CAGR of 4.5% from 2021 – 2027.
An increase in industrial applications, urbanization and demand for smart and Wi-Fi-enabled portable air conditioners, and HCFC alternatives drive the market growth globally.
The rise in energy consumption, electricity prices and lack of proper electrification restrain the market growth. However, changing lifestyle and interior design, expected to present opportunities for the market players.
COVID-19 impact:
The pandemic positively affected the demand for portable air conditioners as people were more involved in home designing and décor. Consumers chose to replace their old home appliances with advanced air conditioners fueling the demand for portable air conditioners.
However, the prolonged lockdown and ban on international trade disrupted the supply chain.
e-commerce segment:
The e-commerce segment is estimated to register the highest CAGR of 6.3% during the forecast period by distribution channel. As consumers, receive more brand options for a particular product segment and guidance from the expert and knowledgeable staff.
Asia-Pacific market:
Asia-Pacific estimates to portray the highest CAGR of 6.4% during the forecast period, owing to constantly expanding infrastructure and real estate sector, growth in urbanization, and high standard of living in the region.
