DUBLIN--(BUSINESS WIRE)--The "Portable Air Conditioner Market by Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The portable air conditioner market size was valued at $613.6 million in 2019, and is estimated to reach $945.4 million by 2027, registering a CAGR of 4.5% from 2021 to 2027.
A portable air conditioner is a self-contained unit, similar to a window air conditioner. It is typically designed with wheels to allow it to be moved. Water condensed from the portable air conditioner may be collected in a bucket for manual removal, drained through a gravity hose, or evaporated and exhausted with the condenser process air.
Portable air conditioning systems has been gaining significant popularity among the consumers owing to benefits associated such as cost effectiveness, ease of installation and ease of movement from one place to another.
With the significant increase in humidity and temperature worldwide, people are finding options for cooling systems which are anticipated to favor the growth of the portable air conditioners. Surge in urbanization and personal disposable income have been majorly influencing the growth of the portable air conditioner market. Furthermore, people are taking foremost interest in improving their home with smart household appliances, which is expected to create demand for portable air conditioners during the forecast period. Technological advancements in the portable air conditioner market further boost the growth of the global market. For instance, In April 2020, Xiaomi Youpin has launched mobile air conditioner, which is manufactured by NEW WIDETECH a Chinese start-up. Most of the companies are upgrading their products with smart features, Internet of Things, and smartphones, which is expected to augment the demand for portable air conditioners in the market.
Increased adoption of automatic home appliances and home automation are becoming an essential part of everyday house work activities among consumers, which has created lucrative growth opportunities for the portable air conditioner manufacturers.
However, lack of distribution channels and proper electrification in rural areas are considerably expected to hinder the growth of the portable air conditioner market during the forecast period. Furthermore, lack of knowledge about the smart appliances and proper advertisements in the rural areas further hamper the growth of the global market.
The global portable air conditioner market is segmented into type, end user, distribution channel, and region. By type, it is categorized into small room, medium room and large room. Depending on end user, it is fragmented into residential and commercial. On the basis of distribution channel, it is differentiated into supermarket & hypermarket, specialty store, Departmental Store, e-commerce and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, Spain, Italy, France, Germany, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Indonesia, Thailand, Australia and Rest of Asia-Pacific) and LAMEA (Latin America, Middle East, Africa)
Key Benefits
- The study provides an in-depth analysis of the global portable air conditioner market, with current and future trends to elucidate the imminent investment pockets in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis from 2019 to 2027 is provided to showcase the financial competency of the market.
- Porter's five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights business practices followed by leading market players across various regions.
Market Dynamics
Drivers
- Rise in industrial applications of the portable air conditioner
- Emergence of HCFC alternatives to influence manufacturing strategies
- Rise in popularity of smart and Wi-Fi enabled portable air conditioner
- Surge in urbanized population
Restraints
- Rise in energy consumption and increase in electricity prices
- Lack of proper electrification
Opportunity
- Rapid growth of the retail sector
- Changes in lifestyle and rise in disposable income
- Increase in spending on home improvement and interior designing
Companies Profiled
- Lloyd Electric & Engineering Limited
- LG Electronics Inc
- Midea Group
- AB Electrolux
- United CoolAir Corporation
- Blue Star Limited
- Haier lnc.
- Daikin Industries Ltd.,
- Olimpia Splendid Spa,
- Whirlpool Corp.
For more information about this report visit https://www.researchandmarkets.com/r/3ap7xh
