Water Cooler Market Anticipates US$ 3.1 Billion Valuation by 2033, Driven by 5.5% CAGR

The water coolers market was valued at US$ 1.8 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% to reach US$ 3.1 billion by the end of 2033.

The main benefits of a water cooler are its exceptional longevity and reliability for storing water throughout the sweltering summer months. In addition, the market is expected to rise faster as a result of rising consumer awareness of the benefits of utilizing a water cooler and the necessity of drinking clean water for a healthy lifestyle.

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Water coolers are devices mainly designed to dispense chilled water, and some models also offer hot water. These coolers use a gaseous refrigerant circulating through pipes to absorb heat from the water, thereby chilling it. Additionally, many water coolers come with purification features. Bottled water coolers, in particular, use refillable tanks filled with purified water. The rising adoption of water coolers in commercial environments such as offices, colleges, and the hospitality industry is a major growth driver for water cooler companies.

In recent years, public awareness about the importance of clean water for good health has significantly risen. This increased awareness has led to a growing demand for water coolers, which provide a convenient and reliable source of clean and safe drinking water. Moreover, economic growth in emerging countries has strengthened the water cooler market, as an expanding middle class with higher disposable incomes is more inclined to invest in these products.

Key Companies Profiled:

• Voltas Ltd.
• Kenmore
• Blue Star Limited
• Avalon Water Coolers
• Clover Co., Ltd.
• Farberware Cookware
• Oasis International
• Avalon Water Coolers
• AB Electrolux

Technological advancements in the water cooler industry have significantly enhanced their functionality, particularly in water purification and treatment. These improvements have not only boosted overall performance but also expanded the capabilities of water coolers. Additionally, enhancements in retail channels have increased consumer accessibility, both in brick-and-mortar stores and online platforms, facilitating easier purchasing processes and driving market expansion.

Key Takeaways from Market Study

• The global market for water coolers is valued at US$ 1.8 billion in 2023.
• Worldwide demand for water coolers is predicted to rise at a CAGR of 5.5% through 2033.
• By the end of 2033, the global market is anticipated to reach US$ 3.1 billion.
• The market in China is forecasted to expand at a CAGR of 7.5% during the forecast period.
• Sales of bottled water coolers are projected to rise at a CAGR of 5.1% from 2023 to 2033.
• The market in Germany is forecasted to advance at a CAGR of 3% over the forecast period.

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Market Competition

Prominent manufacturers of water coolers hold a significant market share and possess a robust global presence.
Additionally, the market includes smaller to medium-sized players, catering to specific water cooler offerings primarily for regional clientele. The influence of these well-established players on the market is substantial, given their extensive distribution networks that reach a broad customer base worldwide. To enhance revenue growth and strengthen their position in the global market, these key players are prioritizing strategic actions like introducing new products, making acquisitions, engaging in collaborations, participating in events, and expanding their operations.

• In April 2020, Waterlogic Holdings Limited announced that it had successfully finalized the acquisition of a significant minority stake in the company by renowned institutional investors: British Columbia Investment Management Corporation (BCI), Neuberger Berman, StepStone, and Skandia. This transaction provided the company with substantial financial resources, empowering it to expedite its global expansion efforts and assume a leadership position in the rapidly growing market for bottleless workplace hydration.

Key Segments of Water Cooler Industry Research:

• By Product Type :
o Bottled
o Bottleless
• By Application :
o Residential
o Commercial
• By Distribution Channel :
o Online
o Offline
• By Region :
o North America
o Latin America
o Europe
o Asia Pacific
o Middle East & Africa

In conclusion, a number of important reasons are driving the water cooler market's continued steady expansion and innovation. Water coolers continue to be in high demand as people prioritize being hydrated and look for quick, easy, and environmentally responsible ways to get access to clean drinking water. A wide variety of goods, which meet different customer preferences and usage scenarios, are available in the market. These products include countertop models, point-of-use (POU) water coolers, and bottled water coolers.

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This release was published on openPR.