Report : Asia Pacific Portable Evaporative Cooler Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Direct Evaporative Cooling and Indirect Evaporative Cooling) and Application (Residential, Commercial, and Industrial)
At 9.9% CAGR, the Asia Pacific Portable Evaporative Cooler Market is speculated to be worth US$ 2,251.99 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific portable evaporative cooler market was valued at US$ 1,278.73 million in 2022 and is expected to reach US$ 2,251.99 million by 2028, registering a CAGR of 9.9% from 2022 to 2028. Increasing adoption of evaporative cooling in residential sector and organic strategies by manufacturers to meet customer’s demand are the critical factors attributed to the Asia Pacific portable evaporative cooler market expansion.
Portable evaporative coolers are getting widely used in manufacturing, food processing, and other factories, as well as in data centers. Since the mentioned areas generate sufficient heat during the production process, the demand for a cool environment in the surroundings is required. Moreover, as retail stores, gyms, commercial buildings, and hotels are getting advanced with technology, the demand for leisure experiences is rising, which would propel the demand for portable evaporative coolers in the coming years.
Data Centers: In data centers, an energy-efficient and reliable cooling solution is required to optimize working conditions. The data centers industry is expanding, dynamic, and increasingly resilient. Owing to the rising trend of computing, automation, use of digital technologies in SMEs and the industrial sector, the data center industry is getting evolved. Moreover, due to the rising demand for cloud services, the data center industry in China is expanding at an exponential rate. In data centers, direct air cooling is the most energy-efficient solution for data centers. Therefore, expanding data centers will have a positive impact on the demand for portable evaporative air coolers in the future.
Hospitality: The hotel industry is another prominent end user of portable evaporative coolers. As the hotels have a nightlife setting, providing comfort becomes crucial. Due to the crowd, the temperature in enclosed and small rooms increases. As a result, demand for cooling solutions would gain momentum in hotels in the coming years.
Hence, the rising demand for portable evaporative coolers from the commercial sector will continue to propel the need for energy-efficient cooling solutions, which, in turn, would fuel the portable evaporative cooler market during the forecast period.
On the contrary, seasonal demand and less adoption in humid areas of portable evaporative coolers hurdles the growth of Asia Pacific portable evaporative cooler market.
Based on type, the Asia Pacific portable evaporative cooler market is bifurcated into direct evaporative cooling and indirect evaporative cooling. The direct evaporative cooling segment held 95.3% market share in 2022, amassing US$ 1,218.60 million. It is projected to garner US$ 2,160.98 million by 2028 to expand at 10.0% CAGR during 2022–2028.
Based on application, the Asia Pacific portable evaporative cooler market is categorized into residential, commercial, and industrial. The residential segment held 43.7% share of Asia Pacific portable evaporative cooler market in 2022, amassing US$ 559.32 million. It is projected to garner US$ 998.13 million by 2028 to expand at 10.1% CAGR during 2022–2028.
Based on country, the Asia Pacific portable 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 30.9% share of Asia Pacific portable evaporative cooler market in 2022. It was assessed at US$ 394.62 million in 2022 and is likely to hit US$ 675.15 million by 2028, exhibiting a CAGR of 9.4% during the forecast period.
Key players dominating the Asia Pacific portable evaporative cooler market are Delta T LLC, Evapoler Eco Cooling Solutions, Portacool LLC, Vankool Technology Co. Ltd, Honeywell International Inc., and Symphony Ltd among others
- In July 2020, Honeywell launched the Zeta air cooler.
- In April 2021, Portacool LLC launched Portacool 510 portable cooler.
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