The Air Coolers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Air Coolers Global Market Report 2024, The air coolers market size has grown rapidly in recent years. It will grow from $1.62 billion in 2023 to $1.8 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to climate conditions and seasonal variations, energy efficiency concerns, affordability and cost-effectiveness, sustainable and eco-friendly cooling, rural and semi-urban demand..
The air coolers market size is expected to see rapid growth in the next few years. It will grow to $2.7 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to consumer preferences for natural cooling, product affordability and variety, availability and distribution, innovative designs and portability, population growth and urbanization.. Major trends in the forecast period include home cooling preferences, diverse product range and features, government policies and incentives, consumer education and awareness..
The increasing hot weather conditions are expected to propel the growth of the air coolers market going forward. An air cooler is any device that is used to cool the air in a building, area, or vehicle. Air coolers are used to cool rooms in buildings as well as to make refrigerators out of thermally insulated casings. For instance, according to World Metrological Organization, a Switzerland-based international agency responsible for promoting international cooperation on atmospheric science, climatology, hydrology, and geophysics, in 2022, the average global temperature was 1.15 [1.02 to 1.28] °C higher than it was between 1850 and 1900. Therefore, increasing hot weather conditions are driving the air coolers market.
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The air coolers market covered in this report is segmented –
1) By Type: Tower, Desert, Other Types
2) By Size: Spot Cooler, Medium Space Cooler, Large Space Cooler
3) By Application: Industrial, Residential, Commercial
Product innovation is a key trend in gaining popularity in the air coolers market. Major companies operating in the air coolers market are focused on developing innovative products to strengthen their position in the market. For instance, in April 2021, Crompton, an Indian-based company that deals in fans and air coolers launched the latest Optimus 65 IoT Desert Coolers that provide instant cooling with a touch of smartness. In addition, Crompton has launched the Optimus 65 IOT coolers with PureShield Technology, a system that combines a PM2.5 filter to deliver filtered air with Anti-bac Control panels powered by N9 Silver World Technology to protect against bacteria. It’s a smart air cooler that can be used and controlled by voice assistants like Google Home or Amazon Alexa as well as the Crompton app.
The air coolers market report table of contents includes:
- Executive Summary
- Air Coolers Market Characteristics
- Air Coolers Market Trends And Strategies
- Air Coolers Market – Macro Economic Scenario
- Global Air Coolers Market Size and Growth
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- Global Air Coolers Market Competitive Benchmarking
- Global Air Coolers Market Competitive Dashboard
- Key Mergers And Acquisitions In The Air Coolers Market
- Air Coolers Market Future Outlook and Potential Analysis
- Appendix
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