Air Coolers Market Soars to US$ 5.4 Billion by 2032, with an Impressive 11.6% CAGR

The global air coolers market is expected to reach US$ 5.4 Billion by 2032 from a valuation of US$ 1.8 Billion in 2022. The market is anticipated to witness exponential growth from 2022 to 2032 by exhibiting an 11.6% CAGR.

Air coolers are considered to be a widespread and classic cooling product. They are mainly used in the home segment, commercial kitchens, and warehouses. As a result, the residential segment is expected to see significant demand for air coolers, particularly tower air coolers, throughout the projected period.

However, other types of air coolers are also projected to find continuous demand in the market as they may be put on walls and hence, take up less space. Further, air coolers have reasonable prices, which makes them the best choice in households and small-scale companies.

Installation of air coolers in data centers is a developing trend in the air cooler industry, and the expanding disposable income is expected to contribute considerably to increasing air cooler demand in the next ten years. Solar-powered coolers are another rising trend in the air cooler market. The falling cost of solar modules and growing awareness about the ecological advantages of using renewable resources are likely to encourage their usage in place of traditional air cooler systems.

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Key Takeaways from the Air Coolers Market Study

  • Top air coolers manufacturers across the globe generated nearly 12%-15% of the global market share in 2021.
  • During the historical period (2017-2021), the global air coolers market registered around 8% CAGR.
  • China air coolers market is projected to develop at a CAGR of roughly 8% over the estimated time period.
  • Based on application, the residential category witnessed a CAGR of almost 1% from 2017 to 2021.
  • The U.S. air coolers market is estimated to develop at a CAGR of roughly 4% in the next ten years.

“To keep up with high consumer demand for air coolers, manufacturers are developing new technological products in a variety of categories. Introduction of energy-efficient, invertor air coolers and awareness about CFCs are propelling the air coolers market,” says an FMI analyst.

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Competition Landscape: Air Coolers Market

Key players in the global market want to develop internationally by entering specialty areas via mergers & acquisitions and joint ventures. Symphony, for example, bought Munters Keruilai Air Treatment Equipment Co., Ltd. to extend its presence in China.

Manufacturers are also concentrating on boosting their research & development (R&D) expenditure for product innovation and manufacturing smaller, streamlined, and fashionable air coolers. Furthermore, producers are ensuring that their products are efficient enough for huge rooms, as well as an exterior environment.

Major players present in the air coolers market are Voltas Ltd., Bajaj Electricals Limited, Daikin Industries Ltd., Symphony Limited, Seeley International Pty Ltd., Havels India Limited, AirGroup, Honeywell International Inc., Intex Technologies, Aolan (Fujian) Industry Co., Ltd., Haier Inc., and Luma Comfort among others.

Get More Valuable Insights into Air Coolers Market

Future Market Insights, in its new offering, provides an unbiased analysis of the air coolers market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the air coolers market by product type (dessert coolers, tower cooler, and others), by application (residential & commercial), by sales channel (wholesalers/distributors, hypermarkets/supermarket, multi-brand store, independent small stores, departmental stores, online retailers, other sales channel), and region.

About Consumer Product Division at Future Market Insights

The consumer product team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the consumer product industry, the team is happy to help with every business intelligence research and consulting requirement.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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