North American countries, including the US, are projected to maintain their position as significant markets for Portable Air Conditioners, holding an impressive market share of over 89.2% in 2021. This dominance can be attributed to the stringent regulations implemented by regional governments aimed at curbing energy consumption.
A key advantage of portable air conditioners is their ability to contribute to energy reduction efforts by consuming fewer BTUs compared to non-portable alternatives. This energy-efficient feature not only benefits individual consumers but also aids in balancing the energy supply and demand across various sectors, ultimately leading to a reduction in the overall carbon footprint.
As the focus on sustainable practices intensifies, the demand for portable air conditioners is expected to rise further, driven by their ability to offer effective cooling solutions while promoting energy optimization and environmentally friendly practices in the North American region.
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Overview Portable Air Conditioner Market
The portable air conditioner market size is expected to reach US$1.1 Billion in 2022, likely to surge at a vigorous 2.9% CAGR during the assessment period. Portable air conditioner sales closed in on around US$ 1 billion in 2018, which are envisaged to witness a sluggish below-3% growth in 2019.
According to a new study of Future Market Insights (FMI), more than 80% of the overall sales of portable air conditioner is accounted by residential end users. Commercial use has been estimated to account for a negligible revenue share in the portable air conditioner market.
Mid-sized Portable Air Conditioner Top Selling
Over 5 in 10 portable air conditioner buyers are observed to prefer medium capacity models, i.e. 11,000-15,000 BTUs. FMI’s analysis suggests that portable air conditioners within this capacity range will continue to experience modest growth in sales over the coming years. On the other side, low capacity and high capacity models of portable air conditioner will reportedly register sluggish rate in terms of revenue. Compact size is cited as the key demand determinant dictating sales growth of mid-capacity models in market.
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Key Points Covered in Portable Air Conditioner Market Survey
- Market estimates and forecast 2013-2027
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Portable Air Conditioner Market and How to Navigate
- Recommendation on Key Winning Strategies
More than 3/5th of the overall sales of portable air conditioner is contributed by multi-brand stores, and organized retail stores – i.e. supermarkets & hypermarkets. The revenue share of the former will however expand at a relatively higher pace, according to the report.
APEJ Strongest Consumer Base Sustaining Portable AC Sales
With a current market value share of over 40%, Asia Pacific has been providing a prime consumer base for portable air conditioner manufacturing brands. North America, the next key market for penetration of portable air conditioner, will however record a falling rate of revenue growth in the years to come.
The report attributes APEJ’s lead in market to the availability of a wide size range at economic price point, compact size and mobility, and consistently improving per capita spending of Asian consumers on lifestyle and convenience products. However, it also highlights that relatively higher noise production and lesser energy efficiency of portable air conditioners over conventional counterparts will remain the key pull factor forestalling their rapid demand growth.
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The report has profiled some of the leading companies operating in the global portable air conditioner market landscape, including LG Electronics Inc., Panasonic Corporation, Electrolux AB, Friedrich, Haier Group Corporation, and The Whirlpool Corporation among others. As indicated by FMI’s study, leading manufacturers of portable air conditioners have been maintaining strategic focus on development of innovative models that are competitive priced and have innovative functional features. Introduction of portable air conditioner-cum-dehumidifier has been a booster to portable AC sales in the market, recently.
Delivering higher energy efficiency with additional features will reportedly be the key developmental strategy trending the competitive landscape of portable air conditioner market.
Global Portable Air Conditioner Market by Category
By Capacity:
- 5,000-10,000 BTUs
- 11,000-15,000 BTUs
- 16,000-20,000 BTUs
- 20,000 & Above BTUs
By End Use:
- Residential
- Commercial
By Sales Channel:
- Wholesalers/ Distributors
- Hypermarket/Supermarkets
- Specialty Stores
- Multi-brand Stores
- Online Retailers
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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