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Air Coolers Market: Size, Share, Growth, Trends, Analysis, Competitive Landscape, Forecast To 2033
Air Coolers Market Size
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
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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