Cooling the Future: Portable Air Conditioner Market Set to Surge Beyond $1.3 Billion by 2027

The portable air conditioner market size is expected to reach US$1.1 Billion in 2022, likely to surge at a vigorous 2.9% CAGR during the assessment period. Portable air conditioner sales closed in on around US$ 1 billion in 2018, which are envisaged to witness a sluggish below-3% growth in 2019. According to a new study of Future Market Insights (FMI), more than 80% of the overall sales of portable air conditioner is accounted by residential end users. Commercial use has been estimated to account for a negligible revenue share in the portable air conditioner market.

Mid-sized Portable Air Conditioner Top Selling

Over 5 in 10 portable air conditioner buyers are observed to prefer medium capacity models, i.e. 11,000-15,000 BTUs. FMI's analysis suggests that portable air conditioners within this capacity range will continue to experience modest growth in sales over the coming years. On the other side, low capacity and high capacity models of portable air conditioner will reportedly register sluggish rate in terms of revenue. Compact size is cited as the key demand determinant dictating sales growth of mid-capacity models in market.

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Key Points Covered in Portable Air Conditioner Market Survey

Market estimates and forecast 2013-2027
Key drivers and restraints impacting market growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Brand share and Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on Portable Air Conditioner Market and How to Navigate
Recommendation on Key Winning Strategies

More than 3/5th of the overall sales of portable air conditioner is contributed by multi-brand stores, and organized retail stores - i.e. supermarkets & hypermarkets. The revenue share of the former will however expand at a relatively higher pace, according to the report.
APEJ Strongest Consumer Base Sustaining Portable AC Sales

With a current market value share of over 40%, Asia Pacific has been providing a prime consumer base for portable air conditioner manufacturing brands. North America, the next key market for penetration of portable air conditioner, will however record a falling rate of revenue growth in the years to come.
The report attributes APEJ's lead in market to the availability of a wide size range at economic price point, compact size and mobility, and consistently improving per capita spending of Asian consumers on lifestyle and convenience products. However, it also highlights that relatively higher noise production and lesser energy efficiency of portable air conditioners over conventional counterparts will remain the key pull factor forestalling their rapid demand growth.

The report has profiled some of the leading companies operating in the global portable air conditioner market landscape, including LG Electronics Inc., Panasonic Corporation, Electrolux AB, Friedrich, Haier Group Corporation, and The Whirlpool Corporation among others. As indicated by FMI's study, leading manufacturers of portable air conditioners have been maintaining strategic focus on development of innovative models that are competitive priced and have innovative functional features. Introduction of portable air conditioner-cum-dehumidifier has been a booster to portable AC sales in the market, recently. Delivering higher energy efficiency with additional features will reportedly be the key developmental strategy trending the competitive landscape of portable air conditioner market.

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Global Portable Air Conditioner Market by Category

By Capacity:
5,000-10,000 BTUs
11,000-15,000 BTUs
16,000-20,000 BTUs
20,000 & Above BTUs

 By End Use:
Residential
Commercial

By Sales Channel:
Wholesalers/ Distributors
Hypermarket/Supermarkets
Specialty Stores
Multi-brand Stores
Online Retailers
Other Sales Channel

By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

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Read Related Reports@

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Window Air Conditioners Market: https://www.futuremarketinsights.com/reports/window-air-conditioners-market

USA & Canada Portable Air Conditioner Market: https://www.futuremarketinsights.com/reports/us-and-canada-portable-air-conditioner-market

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About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.