Evaporative Air Cooler Market Is Projected To Reach US$ 12.5 Billion At A CAGR Of 4.8% By 2034, Fact.MR

Reliance of Evaporative Air Coolers on Water Rather Than Harmful Refrigerants as Cooling Medium Increasing Their Usage: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, July 5, 2024 /EINPresswire.com/ -- According to an updated research report by Fact.MR, the global evaporative air cooler market is set to be valued at US$ 7.82 billion in 2024 and is further analyzed to expand at 4.8% CAGR from 2024 to 2034.

Improvements in functionality and design, such as the use of excellent materials, variable speed motors, and intelligent controls, are further boosting the demand for evaporative air coolers. Expansion of the market for evaporative air coolers is driven by collaborations between manufacturers and suppliers with tech companies from different countries to introduce applications that allow consumers to rent these products rather than purchase them. These applications are increasing the popularity of evaporative air coolers by providing great options for those on a limited budget or for people who are frequently moving from one place to another.

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Use of water as a cooling medium instead of hazardous refrigerants has driven the demand for evaporative air coolers. Regions with varied climates, such as India's hot and dry areas, provide ideal conditions for evaporative air coolers to perform efficiently.

Key Takeaways from Market Study

The global market for evaporative air coolers is projected to reach US$ 12.5 billion by 2034-end. East Asia is set to hold 24.8% of the global market share in 2024.

Demand for evaporative air coolers in South Asia & Pacific is estimated at a market value of US$ 1.52 billion in 2024. The market in Japan is evaluated to generate revenue of US$ 890.4 million by 2034-end.

The market in India is forecasted to expand at a CAGR of 4.9% from 2024 to 2034. Based on end use, the residential segment is forecasted to hold 73.4% of the global market share by 2034.

By product type, demand for portable coolers is forecasted to reach US$ 6.5 billion by the end of 2034. China is expected to lead the East Asia market with 43.6% revenue share in 2024.

“Key players in the market are focusing on developing evaporative air coolers with advanced functions such as smart connectivity, air purification, and remote control driving market growth,” says a Fact.MR analyst

Key Companies Profiled are Delta Cooling Towers Inc.; ENECIO Water Technologies GmbH; Phoenix Manufacturing Inc.; Colt Group Ltd.; SPX Cooling Technologies; Celsius Design Limited; Evapco Group; Kelvion Holding GmbH; Baltimore Aircoil Company Inc.; Munters Group.

Extensive Preference for Portable Coolers Over Other Variants

When compared to other products, portable coolers are in great demand since they provide a useful and versatile cooling solution for a variety of settings, including homes, workplaces, outdoor gatherings, and camping. As technology advances, portable coolers are becoming more feature-rich and effective, which increases their appeal in the market. Need for portable cooling solutions is being further stimulated by the growing popularity of outdoor activities and remote work.

Competitive Landscape in the Evaporative Air Cooler Market:

Leading players in the evaporative air cooler market are driving innovation through the introduction of new product models equipped with advanced features like air purification systems, remote control capabilities, and notably improved energy efficiency. Market advancements include enhanced cooling technologies, noise reduction, and user-friendly interfaces.

In March 2024, Thomson expanded its product lineup with several new air cooler models: the Thomson 28 L personal air cooler, Thomson XL Heavy Duty 105 L Desert Air Cooler, Thomson XXL Heavy Duty 115 L Desert Air Cooler, and Thomson Super Heavy Duty 150 L Desert Air Cooler. These models feature smart cooling technology, advanced cooling efficiency, and honeycomb cooling pads.

In September 2022, Novamax introduced high-quality industrial air coolers known for their durability and competitive pricing.

In March 2022, Güntner, a German firm, launched a compact and efficient CO2 (R744) air cooler (evaporator) designed for small-scale cold rooms in grocery stores, restaurants, and canteens.

In September 2021, Huawei unveiled Indirect Evaporative Cooling technology at Huawei CONNECT 2021. This next-generation technology aims to transform air handling units (AHUs) into environment handling units (EHUs), thereby reducing Power Usage Effectiveness (PUE) in data centers and supporting carbon neutrality initiatives.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the evaporative air cooler market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product type (portable coolers, window-mounted coolers, personal coolers, tower coolers), water tank capacity (5 to 25 liters, 26 to 50 liters, 51 to 70 liters, 71 to 120 liters, 120 liters & above), material (fiber, metal, stainless steel, plastic), effective cooling area (100 to 399 sq. ft., 400 to 799 sq. ft., 800 to 999 sq. ft., 1,000 sq. ft. & above), sales channel (direct sales, modern trade, specialty stores, online stores, departmental stores), and end use (residential, commercial), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

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