The portable air conditioner market is likely to hold a valuation of US$ 1,589.4 million by 2033. As of 2023, the market value is US$ 1,171.6 million. As the average global temperature rises, the portable air conditioner market is expected to grow by 3.1% from 2023 to 2033.
As a temperature analysis in progress is conducted by scientists at GISS via NASA, the average global temperature on Earth has risen not less than one point eleven Celsius every decade since nineteen seventy five. As a result, demand for customized air cooling appliances along coastlines and close to the equator has significantly gone up in recent years. It has also contributed to heat waves that can last for as long as six months in these countries, which makes a portable air conditioner an essential home appliance.
Dense forms of settlements, enclosed apartment spaces, and lack of greenery has made global warming even stronger in cities. Such spaces are good for using portable air conditioners because they do not take much space and efficiently cool small apartments, rooms etc. However, portable and mobile air conditioners are cheaper for most young professionals living in urban areas as opposed to traditional appliances such as central ACs or evaporators.
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Historically, the portable air conditioner market has been experiencing steady growth in recent years. The pandemic meant more people staying and working from their homes, which resulted in the rise of portable air conditioner sales. The market from 2017 to 2022 grew at a growth rate of 2.9% CAGR, generating a global revenue of US$ 1139.3 million in 2022.
The Asia Pacific region is the most affected by changing climatic conditions due to its proximity to the equator. The region has the most diverse topography, which includes deserts and arid regions in China, India, and Australia. Summer monsoons and prolonged heat waves are the main reasons for the market expansion of portable air conditioners in recent years.
“Technological integration of ACs with smart home setups like Amazon Alexa and Google Home will be a game-changing move for the portable air conditioner brands in the times to come,” – Opines Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).
Key Takeaways from the Portable Air Conditioner Market
- China may record a substantial share of 26.0% in the global portable air conditioner market, followed by the United States, Japan, and India.
- The Asia Pacific region showcases a 43.6% share of the global portable air conditioner market.
- Portable air conditioners find applications primarily for residential purposes. By end use, the residential segment dominates the market, holding a share of 82.6%.
- Portable air conditioners with a capacity of 16,000 to 20,000 BTUs are the most preferred choice of homeowners, with a global market share of 19%.
- With ongoing technological innovations, there is an influx of market opportunities for smart home appliances to integrate with portable air conditioners.
Competitive Landscape:
Continuous investments in technology for winter and summer air coolers that can be economical and easily transportable are fueling the market. Personalized air conditioners with low manufacturing and maintenance costs are gaining traction in the coastal regions.
In this industry, several market layers use methods to evaluate energy performance with HPHX devices for different climate zones.
Key Companies in the Portable Air Conditioner Market
- LG Electronics
- Haier Group
- Danby Appliances
- Honeywell International
- De’Longhi
- Whynter
- Frigidaire (Electrolux)
- Black+Decker
- EdgeStar
- Soleus Air
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Recent Developments in the Portable Air Conditioner Market
- Sensibo’s primary product, called ‘Sensibo Air, is a device designed to enhance traditional air conditioning systems by transforming them into smart systems. This is achieved by gathering extensive data, understanding user preferences, and identifying energy-saving possibilities.
- In June 2023, British Columbia, a province in Canada, allocated US$ 10 million to BC Hydro, a publicly owned utility company. This funding aimed to distribute portable air conditioners to communities that face the threat of severe heat waves.
Global Portable Air Conditioner Industry by Category
By Capacity:
- 5,000 to 10,000 BTUs
- 11,000 to 15,000 BTUs
- 16,000 to 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
- Asia Pacific
- The Middle East and Africa
About Future Market Insights, Inc. (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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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