The portable air conditioner market is projected to reach a valuation of US$ 1,589.4 million by 2033, compared to its 2023 value of US$ 1,171.6 million. With the increasing average global temperature, the market is anticipated to witness a growth rate of 3.1% from 2023 to 2033. This growth is indicative of the rising demand for portable cooling solutions amidst the escalating temperatures worldwide, presenting significant opportunities for manufacturers in the portable air conditioner industry.
Since 1975, the average global temperature on Earth has risen by at least 1.1° Celsius every decade, according to an ongoing temperature investigation conducted by scientists at NASA’s Goddard Institute for Space Studies (GISS). Due to this, the need for customised cooling appliances has increased recently in regions close to the equator and along coastlines. Additionally, some nations have had heat waves that extend for up to six months, which is why portable air conditioners are an essential household item.
The presence of densely packed settlements, enclosed apartment spaces, and little to no vegetation has further amplified the effects of global warming in urban areas. Portable air conditioners are suitable for spaces like this as they save space and effectively cool small apartments and rooms. A lot of young professionals and city dwellers also prefer portable air conditioners because they are more cost-effective than traditional cooling solutions like central ACs and evaporators.
Request Sample Report and Drive Impactful Decisions: https://www.futuremarketinsights.com/reports/sample/rep-gb-9001
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
Request for our Comprehensive Research Methodology to Understand of the Market: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-9001
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
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
