Press release
Air Coolers Global Market Overview, Driving Factors, Future Trends, Key Players and Growth Opportunities And Forecast By 2033 | Bajaj Electricals Ltd., Symphony Limited, Electrolux AB, Sharp Corporation, Voltas Limited
Air Coolers Global Market
Air Coolers Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $47.02 billion In 2028 At A CAGR Of 10.9% :
The air coolers market size has grown rapidly in recent years. It will grow from $1.62 billion in 2023 to $1.8 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to climate conditions and seasonal variations, energy efficiency concerns, affordability and cost-effectiveness, sustainable and eco-friendly cooling, rural and semi-urban demand.
The air coolers market size is expected to see rapid growth in the next few years. It will grow to $2.7 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to consumer preferences for natural cooling, product affordability and variety, availability and distribution, innovative designs and portability, population growth and urbanization. Major trends in the forecast period include home cooling preferences, diverse product range and features, government policies and incentives, consumer education and awareness.
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Air Coolers Market Major Segments
The air coolers market covered in this report is segmented -
1) By Type: Tower, Desert, Other Types
2) By Size: Spot Cooler, Medium Space Cooler, Large Space Cooler
3) By Application: Industrial, Residential, Commercial
Key Driver - Surging Global Temperatures Fuel The Air Coolers Market
The increasing hot weather conditions are expected to propel the growth of the air coolers market going forward. An air cooler is any device that is used to cool the air in a building, area, or vehicle. Air coolers are used to cool rooms in buildings as well as to make refrigerators out of thermally insulated casings. For instance, according to World Metrological Organization, a Switzerland-based international agency responsible for promoting international cooperation on atmospheric science, climatology, hydrology, and geophysics, in 2022, the average global temperature was 1.15 [1.02 to 1.28] °C higher than it was between 1850 and 1900. Therefore, increasing hot weather conditions are driving the air coolers market.
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Prominent Trend - Innovative Cooling Solutions Redefining The Air Coolers Market
Product innovation is a key trend in gaining popularity in the air coolers market. Major companies operating in the air coolers market are focused on developing innovative products to strengthen their position in the market. For instance, in April 2021, Crompton, an Indian-based company that deals in fans and air coolers launched the latest Optimus 65 IoT Desert Coolers that provide instant cooling with a touch of smartness. In addition, Crompton has launched the Optimus 65 IOT coolers with PureShield Technology, a system that combines a PM2.5 filter to deliver filtered air with Anti-bac Control panels powered by N9 Silver World Technology to protect against bacteria. It's a smart air cooler that can be used and controlled by voice assistants like Google Home or Amazon Alexa as well as the Crompton app.
Air Coolers Market Players
Major companies operating in the air coolers market report are Bajaj Electricals Ltd., Symphony Limited, Havells India Limited, Honeywell International Inc., Aolan (Fujian) Industrial Co. Ltd., Orient Electric Ltd., Voltas Limited, Usha International Limited, V-Guard Industries Ltd., LG Electronics Inc., Blue Star Limited, Carrier Corporation, Daikin Industries Ltd., Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Toshiba Corporation, Whirlpool Corporation, Hitachi Ltd., Gree Electric Appliances Inc. of Zhuhai, Midea Group Co. Ltd., Hisense Electrical Co Ltd, TCL Corporation, Electrolux AB, Haier Group Corporation, Trane Technologies plc, Lennox International Inc.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the air coolers market in 2023. The regions covered in the air coolers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Air Coolers Market Report Structure
3. Air Coolers Market Trends And Strategies
4. Air Coolers Market - Macro Economic Scenario
5. Air Coolers Market Size And Growth
…..
27. Air Coolers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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