Portable Air Conditioner Market is poised to grow at an impressive CAGR of 4.5% over the forecast period 2027- States Allied Market Research

“Rise in purchase of the portable and smart white goods to increase the living space in home and increase standard of living are the factors that boost the growth of the market. Technological advancements including voice control and Wi-Fi connectivity and smartphone compatibility further influence the growth of the market during the forecast period.”

According to a new report published by Allied Market Research, titled, “Portable Air Conditioner Market by Type, End User and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021–2027,”

The global portable air conditioner Market size is expected to reach $ 945.4 million by 2027 at a CAGR of 4.5% from 2021 to 2027.

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Portable air conditioner is an emerging type of air conditioning system that can be moved from one place to another easily and has low installation cost and requires less space. It can be a perfect alternative for the traditional air conditioning systems as it is compact in size, movable, and does not require permanent installation. It is much more cost effective as compared to the traditional air conditioning systems.

People are preferring household appliances with advanced features including voice and remote control, Wi-Fi connectivity and smartphone compatibility. Therefore, portable air conditioning manufactures are focusing on product innovation and heavily investing in the research and development. Furthermore, portable air conditioner with LED display and low noise features are gaining significant popularity among the customers.

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Key factors influencing market growth:

New application developments and product designs.
Falling prices of the Portable Air Conditioner Market.
Strict government norms along with the administrative support and R&D subsidization.
Geographic expansion by major market players as well as new entrants.

The players operating in the portable air conditioner industry have adopted product launch and business expansion as their key developmental strategies to expand their 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.

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Key findings of the study

In 2019, the portable air conditioner market was valued at $613.6 million, and is estimated to reach $945.4 million by 2027, growing at a CAGR of 4.5% during the forecast period.
In 2019, depending on end user, the residential segment was valued at $543.4 billion, accounting for 88.56% of the global portable air conditioner market share.
In 2019, the China was the most prominent market in Asia-Pacific, and is projected to reach $134.3 billion by 2027, growing at a CAGR of 5.3% during the forecast period.
By product, the large room portable air conditioner segment is estimated to witness the fastest growth, registering a CAGR of 5.9% during the forecast period.

LIST OF TABLES

TABLE 01.GLOBAL PORTABLE AIR CONDITIONER MARKET REVENUE, BY TYPE, 2019–2027 ($MILLION)
TABLE 02.GLOBAL PORTABLE AIR CONDITIONER MARKET REVENUE, BY TYPE, 2019–2027 (THOUSNADS UNITS)
TABLE 03.SMALL ROOM PORTABLE AIR CONDITIONER MARKET REVENUE, BY REGION, 2019–2027 ($MILLION)
TABLE 04.MEDIUM ROOM PORTABLE AIR CONDITIONER MARKET REVENUE, BY REGION, 2019–2027 ($MILLION)
TABLE 05.LARGE ROOM PORTABLE AIR CONDITIONER MARKET REVENUE, BY REGION, 2019–2027 ($MILLION)
TABLE 06.GLOBAL PORTABLE AIR CONDITIONER MARKET REVENUE, BY END USERS, 2019–2027 ($MILLION)
TABLE 07.RESIDENTIAL PORTABLE AIR CONDITIONER MARKET REVENUE, BY REGION, 2019–2027 ($MILLION)
TABLE 08.COMMERCIAL PORTABLE AIR CONDITIONER MARKET REVENUE, BY REGION, 2019–2027 ($MILLION)
TABLE 09.PORTABLE AIR CONDITIONER MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 10.SUPERMARKET & HYPERMARKET PORTABLE AIR CONDITIONER MARKET, BY REGION, 2019–2027 ($MILLION)

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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