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)
The Asia Pacific evaporative cooler market is expected to grow from US$ 2,119.22 million in 2022 to US$ 3,270.44 million by 2028. It is estimated to grow at a CAGR of 7.5% from 2022 to 2028.
Increasing Demand for Cost-Effective Cooling Solutions fuels Asia Pacific Evaporative Cooler Market
Evaporative coolers use less energy which makes them a more affordable cooling solution. Also, evaporative coolers consist of fewer parts when compared with air conditioning systems, which include a fan, pump, and water. This lowers the ownership costs of the evaporative cooling systems, making them a more cost-effective solution.
According to the Canstar Blue report, the average reverse cycle split system air conditioner costs ~US$ 0.60 per hour, whereas an evaporative cooling system cost around US$ 0.10 per hour and another US$ 0.02 for water. It is also seen that ducted evaporative cooling, which is powered by inverter technology, has an annual running cost of US$ 65. In addition, ducted refrigerated air conditioning, with a 3.5-star energy rating, has annual costs of US$ 150. This price can further rise if the refrigerant ducted system is used for more than one room. Moreover, evaporative coolers only use water and no artificial refrigerants, because of which they do not exhaust the ozone layer. Thus, the evaporative cooler will help save up to 55% on energy costs and ~70 % on running costs compared to the refrigerated air conditioner. The people in the region are moving toward more energy-efficient and cost-efficient solutions. This will further create an opportunity for the growth of the Asia Pacific evaporative cooler market.
Asia Pacific Evaporative Cooler Market Overview
The Asia Pacific evaporative cooler market is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. In APAC, China is expected to provide several opportunities for the market growth during the forecast period, owing to the rise in construction activities in residential and commercial buildings across the country. Further, a few of the major office building construction projects in China, India, Japan, and other countries in Q2 2022 are mentioned below:
- The Seomyeon Office Building Development Project involves the investment of US$ 715 million for the construction of a 32-storey office building in South Korea.
- The Waterloo Metro Quarter Development project involves investment of US$ 650 million for the construction of a mixed-use community in Sydney, New South Wales, Australia, to provide better residential, commercial, and accommodation facilities in the country.
- 360 Queen Street Office Tower project involves investment of US$ 608 million for the construction of a 33-storey, 200m high office tower in Australia.
- Uchikanda 1-Chome District Redevelopment project involves investment of US$ 521 million with an aim to provide better office spaces in Japan. This project will redevelop the Corp Building and the Hitachi Kamakurabashi Building into an office complex.
- Bestfield Commercial Development project involves the investment of US$ 425 million for the construction of three 22-story commercial towers in India.
Thus, the growing number of construction projects is increasing the demand for cooling systems in APAC.
Moreover, for the protection of the environment, the preference of customers has shifted from refrigerant air conditioners to water evaporative coolers, which is expected to boost the evaporative cooler market growth during the forecast period.
Asia Pacific Evaporative Cooler Market Revenue and Forecast to 2028 (US$ Million)
The Asia Pacific evaporative cooler market is divided into type, application, and country.
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 the largest Asia Pacific evaporative cooler market share in 2022.
Based on application, the Asia Pacific evaporative cooler market is segmented into residential, commercial, industrial, and confinement farming. The industrial segment held the largest Asia Pacific evaporative cooler market share in 2022.
Based on country, the Asia Pacific evaporative cooler market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific evaporative cooler market share in 2022.
Baltimore Aircoil Co; CoolBoss LLC; Honeywell International Inc; Munters Group AB; Pinnacle Climate Technologies Inc; SPX Technologies Inc; and Symphony Ltd are the leading companies operating in the Asia Pacific evaporative cooler market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Evaporative Cooler Market Landscape
4.1 Market Overview
4.2 Asia Pacific PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Asia Pacific Evaporative Cooler Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Adoption of Evaporative Coolers in Data Centers
5.1.2 Growing Demand for Evaporative Coolers in Residential Sector
5.2 Market Restraints
5.2.1 Inability to Work Efficiently in Humid Environment
5.3 Market Opportunities
5.3.1 Increasing Demand for Cost-Effective Cooling Solutions
5.4 Future Trends
5.4.1 Incorporation of Antimicrobial Technologies in Evaporative Coolers
5.5 Impact Analysis of Drivers and Restraints
6. Evaporative Cooler Market – Asia Pacific Analysis
6.1 Asia Pacific Evaporative Cooler Market Overview
6.2 Asia Pacific Evaporative Cooler Market – Revenue and Forecast to 2028 (US$ Million)
7. Asia Pacific Evaporative Cooler Market Analysis – By Type
7.1 Overview
7.2 Asia Pacific Evaporative Cooler Market, by Type (2021 & 2028)
7.3 Direct Evaporative Cooling
7.3.1 Overview
7.3.2 Direct Evaporative Cooling: Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
7.4 Indirect Evaporative Cooling
7.4.1 Overview
7.4.2 Indirect Evaporative Cooling: Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
7.5 Two-Stage Evaporative Cooling
7.5.1 Overview
7.5.2 Two-Stage Evaporative Cooling: Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
8. Asia Pacific Evaporative Cooler Market Analysis – By Application
8.1 Overview
8.2 Asia Pacific Evaporative Cooler Market Breakdown, by Application, 2021 & 2028
8.3 Residential
8.3.1 Overview
8.3.2 Residential : Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
8.4 Commercial
8.4.1 Overview
8.4.2 Commercial : Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
8.5 Industrial
8.5.1 Overview
8.5.2 Industrial : Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
8.6 Confinement Farming
8.6.1 Overview
8.6.2 Confinement Farming : Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
9. Asia Pacific Evaporative Cooler Market – Country Analysis
9.1 Overview
9.1.1 Asia Pacific Evaporative Cooler Market, by Key Country Revenue and Forecast to 2028 (US$ Million)
9.1.2 Asia Pacific Evaporative Cooler Market Breakdown, by Country
9.1.2.1 Australia: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028
9.1.2.1.1 Australia: Asia Pacific Evaporative Cooler Market Breakdown, by Type
9.1.2.1.2 Australia: Asia Pacific Evaporative Cooler Market Breakdown, by Application
9.1.2.2 China: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028
9.1.2.2.1 China: Asia Pacific Evaporative Cooler Market Breakdown, by Type
9.1.2.2.2 China: Asia Pacific Evaporative Cooler Market Breakdown, by Application
9.1.2.3 India: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028
9.1.2.3.1 India: Asia Pacific Evaporative Cooler Market Breakdown, by Type
9.1.2.3.2 India: Asia Pacific Evaporative Cooler Market Breakdown, by Application
9.1.2.4 Japan: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028
9.1.2.4.1 Japan: Asia Pacific Evaporative Cooler Market Breakdown, by Type
9.1.2.4.2 Japan: Asia Pacific Evaporative Cooler Market Breakdown, by Application
9.1.2.5 South Korea: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028
9.1.2.5.1 South Korea: Asia Pacific Evaporative Cooler Market Breakdown, by Type
9.1.2.5.2 South Korea: Asia Pacific Evaporative Cooler Market Breakdown, by Application
9.1.2.6 Rest of APAC: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028
9.1.2.6.1 Rest of APAC: Asia Pacific Evaporative Cooler Market Breakdown, by Type
9.1.2.6.2 Rest of APAC: Asia Pacific Evaporative Cooler Market Breakdown, by Application
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 Baltimore Aircoil Co
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 CoolBoss LLC
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Honeywell International Inc
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Munters Group AB
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Pinnacle Climate Technologies Inc
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 SPX Technologies Inc
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Symphony Ltd
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Evaporative Cooler Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Asia Pacific Evaporative Cooler Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Asia Pacific Evaporative Cooler Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Asia Pacific Evaporative Cooler Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Asia Pacific Evaporative Cooler Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Asia Pacific Evaporative Cooler Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Asia Pacific Evaporative Cooler Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Asia Pacific Evaporative Cooler Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan: Asia Pacific Evaporative Cooler Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Japan: Asia Pacific Evaporative Cooler Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea: Asia Pacific Evaporative Cooler Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. South Korea: Asia Pacific Evaporative Cooler Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of APAC: Asia Pacific Evaporative Cooler Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of APAC: Asia Pacific Evaporative Cooler Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Evaporative Cooler Market Segmentation
Figure 2. Asia Pacific Evaporative Cooler Market Segmentation – By Country
Figure 3. Asia Pacific Evaporative Cooler Market Overview
Figure 4. Direct Evaporative Cooling Segment Held the Largest Share of Asia Pacific Evaporative Cooler Market
Figure 5. India to Show Great Traction During Forecast Period
Figure 6. Asia-Pacific: PEST Analysis
Figure 7. Expert Opinion
Figure 8. Asia Pacific Evaporative Cooler Market Impact Analysis of Drivers and Restraints
Figure 9. Asia Pacific Evaporative Cooler Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. Asia Pacific Evaporative Cooler Market Breakdown, by Type, 2021 & 2028 (%)
Figure 11. Direct Evaporative Cooling: Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 12. Indirect Evaporative Cooling: Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 13. Two-Stage Evaporative Cooling: Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 14. Asia Pacific Evaporative Cooler Market Breakdown, by Application, 2021 & 2028 (%)
Figure 15. Residential : Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 16. Commercial : Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 17. Industrial : Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 18. Confinement Farming : Asia Pacific Evaporative Cooler Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 19. Asia Pacific Evaporative Cooler Market, by Key Country Revenue and Forecast to 2028 (US$ Million)
Figure 20. Asia Pacific Evaporative Cooler Market Breakdown, by Country, 2021 & 2028 (%)
Figure 21. Australia: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028 (US$ Million)
Figure 22. China: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028 (US$ Million)
Figure 23. India: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028 (US$ Million)
Figure 24. Japan: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028 (US$ Million)
Figure 25. South Korea: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028 (US$ Million)
Figure 26. Rest of APAC: Asia Pacific Evaporative Cooler Market, Revenue and Forecast to 2028 (US$ Million)
- Baltimore Aircoil Co
- CoolBoss LLC
- Honeywell International Inc
- Munters Group AB
- Pinnacle Climate Technologies Inc
- SPX Technologies Inc
- Symphony Ltd
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific evaporative cooler market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific evaporative cooler market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.