The air conditioner may be a household staple, but a challenger is rising to the throne – the air cooler market. Projected to reach a staggering US$ 5.4 Billion by 2032, with a sizzling CAGR of 11.6%, air coolers are offering a breath of fresh air for both consumers and industry leaders. Here’s why you should take notice:
Soaring Demand, Sustainable Solutions:
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Climate Change Catalyst: Rising global temperatures, particularly in Asia Pacific, are driving the demand for efficient cooling solutions. Air coolers offer a sustainable alternative to traditional air conditioners.
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Energy Efficiency Champion: Air coolers consume significantly less energy compared to ACs, translating to lower electricity bills and a reduced environmental footprint. This resonates with eco-conscious consumers and cost-saving businesses.
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Innovation Ignites Growth: Manufacturers are constantly developing advanced air coolers. Features like multi-stage filtration, anti-bacterial tanks, and sleek designs are attracting a wider customer base.
A Market Poised for Expansion:
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Asia Pacific Leads the Charge: This region, with its large population and hot climate, is expected to hold the dominant market share. The growing presence of local and international air cooler companies further fuels this growth.
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Japan: A Hub for Innovation: Technological advancements in Japan are creating high-performance air coolers with features like rapid cooling pads and digital controls. This trend is expected to propel the Japanese market forward.
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Marketing Muscle Matters: Strategic campaigns like Symphony Limited’s eco-awareness campaign highlight the environmental benefits of air coolers, attracting environmentally conscious consumers.
A Decision Maker’s Advantage:
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Cost-Effective Cooling: Offer your customers a budget-friendly way to beat the heat. Air coolers provide significant energy savings compared to ACs.
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Sustainability Superhero: Cater to the growing demand for eco-friendly solutions. Air coolers utilize natural evaporative cooling, eliminating harmful coolants and reducing your environmental impact.
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Aesthetics Meet Efficiency: Gone are the days of bulky, unattractive air coolers. Modern designs seamlessly integrate with any decor, making them a perfect fit for homes and businesses alike.
The air cooler market is poised for explosive growth. By offering energy-efficient, sustainable cooling solutions, you can tap into a lucrative market segment and position yourself as a leader in environmentally conscious innovation.
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.
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.
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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 ~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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