DUBLIN--(BUSINESS WIRE)--The "Personal Cooling Devices Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The personal cooling device market is expected to witness a CAGR of 5.16%, during the forecast period. These are energy-efficient devices that are cheaper and provide comfort to individuals in any work set up. The portability of these systems makes them an attractive option for many workers operating in remote locations.
Moreover, the demand for personal cooling devices has been continually increasing, due to increase in temperature as an effect of global warming. According to data released by the World Health Organisation, heat stress due to climate change is expected to result in 38,000 extra deaths a year across the world, between 2030 and 2050. This is expected to lead to an increase in the use of user-friendly and energy-saving cooling devices.
The workers functioning in hot temperatures are expected to increasingly use handheld cooling devices, in order to minimize heat/cold stress and fatigue that affects both comfort and productivity. Hence, handheld cooling devices are expected to be among the fastest-growing product in the market studied. Moreover, they are integrated with TEC (Thermoelectric Cooler) modules, enabling them to provide instant cooling effect.
- Honeywell International Inc.
- Shenzhen Krg Electronics Co. Ltd
- Havells India Limited
- Holmes Group ( Sunbeam Products Inc.)
- Design Go Ltd
- Lakeland Ltd
- O2cool LLC
- Evapolar Ltd
- Handy Cooler
Key Market Trends
Growing Use by Workforce Operating in Hot Conditions is Expected to Drive Market Growth
- Maintaining a normal body temperature remains critical to the operations of first responders, like firefighters, policemen, and hazardous materials response teams, that need to perform frequently at high activity levels in extremely hot environments.
- Apart from such first responders, many industries, like construction and mining, that have harsh operating conditions are major areas of application for such systems. In such situations, where heat stress can not be reduced by using engineering controls or work practice modifications, special personal cooling devices are used. This includes protective vests that make use of ambient air systems.
- Ambient air systems function by blowing air between protective outer garments and the inner layers of clothing, thereby, inducing both convective and evaporative heat losses. They use battery-powered blowers, to circulate air through the protective gear. Such personal cooling blowers/fans weigh less than 5 lbs. Ambient air systems are very effective at relatively low humidities.
- The fan units, that are typically put in the side pockets, start at the push of a button and the strength of cooling can be adjusted according to the need of the user, by activating either one or both air fan units. The ventilation vest, manufactured by Entrak, utilizes ambient air as the coolant. The air circulated is generated by a small battery-operated fan unit.
Asia-Pacific is Expected to be the Fastest Growing Market in the World
- The personal cooling device has been extensively adopted in the Asia-Pacific region. The hot climate of the region and the industrial growth have made it a lucrative region for the market studied.
- Moreover, Asia-Pacific, which is a hub of electronic device manufacturing, is fast emerging as one of the major suppliers of such cooling devices. The presence of a large number of manufacturers in this region is expected to propel the demand for market growth.
- Additionally, the growth of end-user sections, like mining, which is one of the major areas of application for the personal cooling devices, is also expected to propel market growth. China, for instance, produces majority of the rare earth metals of the world.
- Furthermore, in countries like India, nearly 90% of the workforce of the country is in the informal sector, with no minimum wages or any kind of social security. The government has been trying to continually improve social security coverage and improve their working conditions. These scenarios offer optimum growth potential for the market studied in the future. Additionally, vendors, like Havells India Limited, have been expanding their personal fan and personal cooler offerings.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Energy Efficient Designs
4.2.2 Growing Use by Workforce Operating in Hot Temperatures
4.3 Market Restraints
4.3.1 HVAC Systems Dominate the Market in Room Cooling Reducing the Need for Such Systems
4.4 Porter's Five Forces Analysis
4.5 Assessment of Impact of COVID-19 on the Industry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Personal Air Conditioner/Desk Fans
5.1.2 Handheld Cooling Devices
5.2 By Geography
5.2.1 North America
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Honeywell International Inc.
6.1.2 Shenzhen Krg Electronics Co. Ltd
6.1.3 Havells India Limited
6.1.4 Holmes Group ( Sunbeam Products Inc.)
6.1.5 Design Go Ltd
6.1.6 Lakeland Ltd
6.1.7 O2cool LLC
6.1.8 Evapolar Ltd
6.1.9 Handy Cooler
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/btch34