The North American and Canada portable air conditioner market is poised for significant growth, driven by a confluence of factors including rising consumer income, increasing urbanization, and a growing preference for convenience and comfort. According to a recent industry report, the market is valued at US$ 224.7 million in 2021 and is expected to reach US$ 319.7 million by 2032, reflecting a healthy CAGR of 3.3%.
Key Drivers of the Market:
- Rising Disposable Income: As disposable income rises, consumers are prioritizing higher living standards, leading to a surge in demand for portable air conditioners.
- Urbanization and Expanding Use Cases: The growth of urban areas is creating a demand for portable air conditioners in diverse settings, including corporate offices and hypermarkets, alongside traditional residential use.
- Convenience and Comfort: Modern consumers seek convenience and comfort, and portable air conditioners offer a readily deployable solution to cool specific spaces.
Request a Sample Report and Explore New Growth Opportunities Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-15045
A Competitive Landscape with a Focus on Innovation:
The market is characterized by intense competition among established global players such as Midea Group, LG Electronics, Black+Decker Inc., Electrolux AB, and Haier Group Corporation. Manufacturers are constantly innovating to meet evolving consumer preferences:
- Multi-Functionality and User-Friendliness: Advancements in technology are driving demand for next-generation portable air conditioners that are multi-functional and easy to use.
- Smart Features and Automation: The integration of the Internet of Things (IoT) and sensor technology allows for automation and advanced features like sleep mode operation.
- Reduced Noise Levels: Consumers are increasingly noise-conscious, prompting manufacturers to develop quieter portable air conditioners.
- Lightweight Design: Portability is a key advantage, and manufacturers are focusing on lightweight designs for enhanced ease of use.
Looking Ahead:
The North American portable air conditioner market offers a promising outlook, fueled by rising disposable income, increasing urbanization, and a growing preference for convenience and comfort. Leading manufacturers are continuously innovating to offer advanced features and user-friendly designs, further propelling market growth.
Key Takeaways from the U.S. & Canada Portable Air Conditioner Market Study
- The market in US is projected to witness rapid growth and register a CAGR of 3.6% over the forecast period, owing to the rapidly growing population, along with an increase in the number of retail outlets in the country.
- As per the analysis, 5000-10,000 BTU’s segment is expected to hold a noteworthy share of 38.7% in 2021. Because it is used for small and medium-sized rooms, it an economical choice for most people.
- The residential segment is expected to hold a major share of the market. Improved standard of living and rise in the adoption of smart home appliances is anticipated to favour the segmental growth.
- Companies are focusing on manufacturing products that offer special features, including smart controls by Wi-Fi.
Request the Full Report Methodology Now! https://www.futuremarketinsights.com/request-report-methodology/rep-gb-15045
“Rising inclination of consumers toward energy-efficient systems and the growing popularity of portable systems are expected to positively impact the portable air conditioner market growth.” says an FMI analyst.
Who is winning?
The players operating in the global U.S. & Canada portable air conditioners industry have adopted various developmental strategies to expand their market share, exploit the U.S. & Canada portable air conditioner market opportunities, and increase profitability in the market. Major players present in the U.S. & Canada portable air conditioner market are
- The Whirlpool Corporation
- Midea Group
- LG Electronics
- Black+Decker Inc.
- WHYNTER LLC
- Frigidaire Company
- Samsung Electronics
- Haier Group Corporation
- Electrolux AB
- General Electric Company
- Honeywell International Inc.
- Blue Star Limited
- SereneLife Home, LLC
- Havells India Ltd. (Lloyd)
- AMACOOL
- Other Players (As Per Request)
Gain Immediate Access to Detailed Market Insights: https://www.futuremarketinsights.com/checkout/15045
U.S. & Canada Portable Air Conditioner Market by Category
By Product Type
- Standard Portable Air Conditioner
- Smart Portable Air Conditioner
By Capacity
- 5,000-10,000 BTUs
- 11,000-15,000 BTUs
- 16,000-20,000 BTUs
- 20,000 and Above BTUs
By Price Range
- Below US$ 100
- US$ 100-200
- US$ 200-700
- US$ 700 and Above
By End User
- Commercial
- Residential
By Sales Channel
- Wholesalers/Distributors
- Hypermarkets/Supermarkets
- Multi-Brand Stores
- Specialty Stores
- Independent Small Stores
- Online Retailers
- Other Sales Channels
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
