Report : Asia Pacific Evaporative Cooler Market Forecast to 2028 – COVID-19 Impact and Regional Analysis– by Type (Direct Evaporative Cooling, Indirect Evaporative Cooling, and Two-Stage Evaporative Cooling) and Application (Residential, Commercial, Industrial, and Confinement Farming)
At 7.5% CAGR, the Asia Pacific Evaporative Cooler Market is speculated to be worth US$ 3,270.44 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific evaporative cooler market was valued at US$ 2,119.22 million in 2022 and is expected to reach US$ 3,270.44 million by 2028, registering a CAGR of 7.5% from 2022 to 2028. Rising adoption of evaporative coolers in data centers and growing demand for evaporative coolers in residential sector are the critical factors attributed to the Asia Pacific evaporative cooler market expansion
Earlier, data centers were constructed in cooler environmental regions. However, with the rising need to reduce latency and construct the data center infrastructure closer to the customers, the demand for data centers in Southeast Asian countries is increasing significantly. In Southeast Asia, Singapore is considered a hotbed for global data center construction because of its robust infrastructure, stable internet connectivity, and talented workforce. The rising demand for data centers in the country is pushing them to build a Green Data Centre Technology Roadmap. Through this, the country is taking the initiative for a more sustainable data center industry. This plan covers both physical IT and software, and it will help reduce carbon emissions that are caused due to data centers. The evaporative cooling technologies that can be used by the country are passive cooling, direct liquid cooling, and free cooling. Therefore, the growing adoption of evaporative coolers for data centers is fueling the growth of the Asia Pacific evaporative cooler market.
On the contrary, inability to work efficiently in humid environment hampers the Asia Pacific evaporative cooler market .
Based on type, the Asia Pacific evaporative cooler market is segmented into direct evaporative cooling, indirect evaporative cooling, and two-stage evaporative cooling. The direct evaporative cooling segment held 77.7% share of Asia Pacific evaporative cooler market in 2022, amassing US$ 1,647.23 million. It is projected to garner US$ 2,601.78 million by 2028 to expand at 7.9% CAGR during 2022–2028.
Based on application, the Asia Pacific evaporative cooler market is segmented into residential, commercial, industrial, and confinement farming. The residential segment held 35.9% share of Asia Pacific evaporative cooler market in 2022, amassing US$ 760.68 million. It is projected to garner US$ 1,245.16 million by 2028 to expand at 8.6% CAGR during 2022–2028.
Based on country, the Asia Pacific evaporative cooler market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 29.2% share of Asia Pacific evaporative cooler market in 2022. It was assessed at US$ 619.28 million in 2022 and is likely to hit US$ 985.91 million by 2028, exhibiting a CAGR of 8.1% during the forecast period.
Key players dominating the Asia Pacific evaporative cooler market are Baltimore Aircoil Co; CoolBoss LLC; Honeywell International Inc; Munters Group AB; Pinnacle Climate Technologies Inc; SPX Technologies Inc; and Symphony Ltd, among others.
- In 2022; Symphony Limited has launched a digital campaign to create awareness on the need to protect and conserve our planet. With technology making our lives simpler and more convenient, it has proved to be a hazard to our environment.
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