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Air Cooler Market Size, Share & Revenue Forecast Report[2031]
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Air Cooler Market Size, Share & Revenue Forecast Report[2031]

Segments - Air Cooler Market by Types (Desert, Tower, and Others), Applications (Commercial and Residential), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Debadatta Patel
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Fact-checked by : PARTHA PAUL
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Editor : Shruti Bhat

Upcoming | Report ID :CG-363 | 4.9 Rating | 82 Reviews | 198 Pages | Format : PDF Excel PPT

Report Description


Air Cooler Market Outlook 2031

The global air cooler market size was valued at USD 1.48 billion in 2022 and is expected to reach USD 3.64 billion by 2031 The market is projected to expand at a CAGR of 10.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to efficient cooling, affordability, usage in outdoor space, product innovation, and less power consumption as compared to air conditioners (ACs).

Air coolers function through the evaporation process. Air coolers do not use any harmful cooling agents such as HCFC and CFC that are used in ACs to cool the room, thus making it an eco-friendly option. It uses a simple air stirring technique that absorbs fresh air from the surroundings, and passes through wet cooling swabs that absorb the heat from the air and do not make it dry like ACs.

Air Cooler Market Outlook

  • Rising demand for low power-consuming, energy-efficient, and ecofriendly products is fueling the demand for air coolers.
  • High energy consumption by ACs is changing the consumers preference towards air coolers.
  • Consumers are unwilling to purchase air coolers, as they occupy space and do not match with the interiors of the house. This hampers the market growth.
  • Air coolers cost 80% - 85% less than AC, thus makes it adaptable and affordable for the middle-class population all over the world.
  • Air coolers are not suitable to be used in coastal and humid areas, which hinder the market growth.
  • Advanced cooling pads such as honeycomb, also called as cellulose pads are reducing the maintenance cost and raising the cooling ability.
  • Technological advancements are driving the market in emerging countries.

Scope of The Air Cooler Market Report:

The report on the global air coolers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Air Coolers Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Desert, Tower, and Others), Applications (Commercial and Residential), and Regions

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered

Bajaj Electricals Limited, Symphony Limited, Havels India Limited, Aolan (Fujian) Industry Co., Ltd., Honeywell International Inc., Seeley International Pty Ltd., Luma Comfort, Fujian Jinghui Environmental Technology Co., Ltd., AirGroup, and De’Longhi Appliances S.r.l.

Air Cooler Market Segment Insights:

The tower segment held a key market share in 2018

Based on types, the global air coolers market is segregated as tower, Desert, and others. The tower segment is anticipated to expand at a rapid CAGR during the forecast period, due to its compact size and stylish design. Consumers are attracted towards tower air coolers, as they are cost-effective and easily movable. Tower air coolers are compatible in humid as well as dry air, thus consumers prefer tower air coolers. A tower air cooler consumes less power, has a small water tank, and is inexpensive in nature. These coolers are compatible with inverters.

Desert and other air coolers such as window, personal, and mini air coolers are estimated to register substantial growth during the forecast period. These coolers need to be kept outside the room to sustain its cooling capacity. If they are kept inside the room, its cooling capacity is affected. High consumption of electricity by Desert air coolers as compared to tower coolers is expected to hinder the market growth of this segment.

Air Cooler Market Types

The residential segment held a key market share of around 87.9% in 2018

On the basis of applications, the global air coolers market is bifurcated as commercial and residential. The residential segment is projected to show rapid growth during the forecast period. Increasing temperature and rising disposal income of the middle class people is anticipated to drive the market in the residential segment. Increasing income of rural population is raising the demand for air coolers, as they consume less power and are economical.

Product demand is rising in the commercial segment, due to its use in open air functions, where ACs cannot be fitted. These products are eco-friendly, as they do not cause any harm to the environment. Retailers and grocery stores have started showing interest in purchasing air coolers, owing to rising temperatures.

Air Cooler Market Applications

Market in Asia Pacific held more than 60% share of total revenue in 2018

In terms of regions, the global air coolers market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is estimated to expand at a robust CAGR during the forecast period, due to rising temperature and climate change in the region. Demand is fueled by acceptance of air coolers in residential as well as commercial sections, due to changing preference towards cool working environment and availability of cost-effective products.

India held a major market share, due to large number of middle-class population in the country. The markets in South America, Africa, and Middle East regions are expected to grow at a rapid pace during the forecast period, owing to hot and dry climate. Air coolers are economical and eco-friendly in nature, thus driving the demand.

Air Cooler Market Region

Segments

The global air coolers market has been segmented on the basis of

Types

  • Desert
  • Tower
  • Others

Applications

  • Commercial
  • Residential

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Bajaj Electricals Limited
  • Symphony Limited
  • Havels India Limited
  • Aolan (Fujian) Industry Co., Ltd.
  • Honeywell International Inc.
  • Seeley International Pty Ltd.
  • Luma Comfort
  • Fujian Jinghui Environmental Technology Co., Ltd.
  • AirGroup
  • De’Longhi Appliances S.r.l.

Competitive Landscape

Key players in the global air coolers market include Bajaj Electricals Limited, Symphony Limited, Havels India Limited, Aolan (Fujian) Industry Co., Ltd., Honeywell International Inc., Seeley International Pty Ltd., Luma Comfort, Fujian Jinghui Environmental Technology Co., Ltd., AirGroup, and De’Longhi Appliances S.r.l. Manufacturers are focusing on advancement in technology through mergers and acquisitions.
 

Air Cooler Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Air Cooler Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Air Cooler Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Air Cooler Market - Supply Chain
  4.5. Global Air Cooler Market Forecast
     4.5.1. Air Cooler Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Air Cooler Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Air Cooler Market Absolute $ Opportunity
5. Global Air Cooler Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Air Cooler Market Size and Volume Forecast by Types
     5.3.1. Desert
     5.3.2. Tower
     5.3.3. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Air Cooler Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Air Cooler Market Size and Volume Forecast by Applications
     6.3.1. Commercial
     6.3.2. Residential
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Air Cooler Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Air Cooler Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Air Cooler Demand Share Forecast, 2019-2026
8. North America Air Cooler Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Air Cooler Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Air Cooler Market Size and Volume Forecast by Types
     8.4.1. Desert
     8.4.2. Tower
     8.4.3. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Air Cooler Market Size and Volume Forecast by Applications
     8.7.1. Commercial
     8.7.2. Residential
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Air Cooler Demand Share Forecast, 2019-2026
9. Latin America Air Cooler Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Air Cooler Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Air Cooler Market Size and Volume Forecast by Types
     9.4.1. Desert
     9.4.2. Tower
     9.4.3. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Air Cooler Market Size and Volume Forecast by Applications
     9.7.1. Commercial
     9.7.2. Residential
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Air Cooler Demand Share Forecast, 2019-2026
10. Europe Air Cooler Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Air Cooler Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Air Cooler Market Size and Volume Forecast by Types
     10.4.1. Desert
     10.4.2. Tower
     10.4.3. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Air Cooler Market Size and Volume Forecast by Applications
     10.7.1. Commercial
     10.7.2. Residential
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Air Cooler Demand Share Forecast, 2019-2026
11. Asia Pacific Air Cooler Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Air Cooler Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Air Cooler Market Size and Volume Forecast by Types
     11.4.1. Desert
     11.4.2. Tower
     11.4.3. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Air Cooler Market Size and Volume Forecast by Applications
     11.7.1. Commercial
     11.7.2. Residential
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Air Cooler Demand Share Forecast, 2019-2026
12. Middle East & Africa Air Cooler Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Air Cooler Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Air Cooler Market Size and Volume Forecast by Types
     12.4.1. Desert
     12.4.2. Tower
     12.4.3. Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Air Cooler Market Size and Volume Forecast by Applications
     12.7.1. Commercial
     12.7.2. Residential
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Air Cooler Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Air Cooler Market: Market Share Analysis
  13.2. Air Cooler Distributors and Customers
  13.3. Air Cooler Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Bajaj Electricals Limited
     13.4.2. Symphony Limited
     13.4.3. Havels India Limited
     13.4.4. Aolan (Fujian) Industry Co., Ltd.
     13.4.5. Honeywell International Inc.
     13.4.6. Seeley International Pty Ltd.
     13.4.7. Luma Comfort
     13.4.8. Fujian Jinghui Environmental Technology Co., Ltd.
     13.4.9. AirGroup
     13.4.10. De’Lon

Methodology

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