Air Coolers Market – Global Industry Analysis and Forecast (2023-2029)

Air Coolers Market is anticipated to reach US$ 2.74 Bn by 2029 from US$ 1.32 Bn in 2022 at a CAGR of 10.9% during a forecast period.

Air Coolers Market Overview

Air coolers are a cost-effective, environment-friendly, and energy-saving alternative to air conditioners. Air coolers are simple to operate and help to cool the air by evaporating water. They run at full efficiency thanks to the unrestricted flow of fresh air and proper ventilation, and they use less energy while emitting no hazardous gases.

Air Coolers Market Snapshot

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Global Air Coolers Market Dynamics

The capacity to cool efficiently and affordably while using less energy is a significant element driving this market's growth. Other growing factors include air coolers that do not utilize hazardous cooling agents that are used in air conditioners to cool the environment, making them more eco-friendly. In addition, the growing need for energy-efficient, low-power-consumption, and highly flexible devices are driving the growth of the air cooler market. The air cooler market is growing due to rising hot weather conditions across the globe, as well as growing ergonomic designs for both residential and commercial use. With growing concerns about energy consumption, air conditioning is one of the major opportunities that is expected to impact market growth during the forecast period. Consumers are hesitant to use air coolers since they take up space and do not match the room's interior. Thus, many manufacturers have recognized this as a problem and are developing air coolers that are smaller, slimmer, and more attractive. Manufacturers are innovating to make it more powerful so that it can be utilized in large spaces and is easy to move about with the help of the castor wheel. Besides that, the ease of installation and mobility of air coolers are driving up demand. Air coolers are 80 percent to 85 percent less expensive than air conditioners, making them more accessible and adaptable to the middle-class population.

COVID-19 Impact on Global Air Coolers Market

The COVID-19 epidemic has had a negative impact on the air cooler market due to government-imposed lockdowns throughout the world. For example, Symphony Ltd, the market's largest participant, had its earnings drop by 93.33 percent in the quarter ending in June 2020. However, due to the hot weather and customers' shifting preferences from local air coolers to branded air coolers, air coolers are expected to see significant growth. Companies are expected to increase production as a result of the economy's gradual opening following the COVID-19 outbreak. Air Coolers are widely used in the Asia Pacific, particularly in India and China. Furthermore, sales of coolers have decreased substantially in recent months, limiting market growth as a result of the COVID-19 epidemic.

Global Air Coolers Market Segmentation Analysis

By Application, The residential segment had the highest share in 2022 of 88.0% and is expected to grow rapidly throughout the forecast period. The residential segment is projected to be driven by rising temperatures and an increase in middle-class disposable income. As rural population incomes are growing, air coolers are becoming more popular, with less energy and better price efficiency. The demand for products in the commercial sector has grown due to its application in open-air functions where air-conditioners cannot be installed. Due to rising power costs, merchants and grocery stores started showing interest in the adoption of air coolers.

Global Air Coolers Market Regional Insights

The Asia Pacific has a market share of 56 percent in 2022. It is expected to grow rapidly throughout the forecast period Air coolers are in high demand due to their use in both residential and commercial applications. Due to its huge middle-class population, India has the greatest market share in the Asia Pacific in 2022. Due to a surge in manufacturers and competitive rates, India is also the region's fastest-growing market. Latin America, on the other hand, is expected to grow slowly due to its hot and dry climate throughout the forecast period. Air coolers are both economic and eco-friendly, which is driving up demand in the region. During the forecast period, growth in the Middle East and Africa is also expected to be slow.

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Global Air Coolers Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 1.32 Bn.
Forecast Period 2023 to 2029 CAGR: 10.9% Market Size in 2029: US $ 2.74 Bn.
Segments Covered: by Type Tower Dessert Others
by Application Residential Commercial

Air Coolers Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and the Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and the Rest of APAC) South America (Brazil, Argentina Rest of South America) Middle East & Africa (South Africa, GCC, Egypt, Nigeria and the Rest of ME&A)

Global Air Coolers Market, Key Players are

1. Symphony Limited 2. Bajaj Electricals Limited 3. Havels India Limited 4. Honeywell International Inc. 5. Aolan (Fujian) Industry Co., Ltd. 6. Luma Comfort 7. AirGroup, Seeley International Pty Ltd. 8. Fujian Jinghui Environmental Technology Co., Ltd. 9. De’Longhi Appliances S.r.l. 10. Evapolar 11. Future Home Group 12. Thane IP Limited 13. Ontel Products Corporation 14. HoMedics USA LLC 15. CoolAir

Frequently Asked Questions

1. What is the projected market size & growth rate of the Global Air Coolers Market? Ans- Air CoolersMarket was valued at USD 1.32 billion in 2022 and is projected to reach USD 2.74 billion by 2029, growing at a CAGR of 10.9% during the forecast period. 2. What are the key driving factors for the growth of the Global Air Coolers Market? Ans- The capacity to cool efficiently and affordably while using less energy is a significant element driving this market's growth. Other growing factors include air coolers that do not utilize hazardous cooling agents that are used in air conditioners to cool the environment, making them more eco-friendly. 3. Which region accounted for the largest Global Air Coolers Market share? Ans- Asia Pacific has a market share of 56 percent in 2022. It is expected to grow rapidly throughout the forecast period. Air coolers are in high demand due to their use in both residential and commercial applications. 4. What makes India a Lucrative Market for the Global Air Coolers Market? Ans- Due to its huge middle-class population, India has the greatest market share in the Asia Pacific in 2022. Due to a surge in manufacturers and competitive rates, India is also the region's fastest-growing market. 5. What are the top players operating in the Global Air Coolers Market? Ans- Symphony Limited, Bajaj Electricals Limited, Havels India Limited, Honeywell International Inc., Aolan (Fujian) Industry Co., Ltd., Luma Comfort, and AirGroup, Seeley International Pty Ltd.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Air Coolers Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2021 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Air Coolers Market 3.4. Geographical Snapshot of the Air Coolers Market, By Manufacturer share 4. Global Air Coolers Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Air Coolers Market 5. Supply Side and Demand Side Indicators 6. Global Air Coolers Market Analysis and Forecast, 2022-2029 6.1. Global Air Coolers Market Size & Y-o-Y Growth Analysis. 7. Global Air Coolers Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 7.1.1. Tower 7.1.2. Dessert 7.1.3. Others 7.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 7.2.1. Residential 7.2.2. Commercial 8. Global Air Coolers Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Air Coolers Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 9.1.1. Tower 9.1.2. Dessert 9.1.3. Others 9.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 9.2.1. Residential 9.2.2. Commercial 10. North America Air Coolers Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Air Coolers Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 12. Canada Air Coolers Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 13. Mexico Air Coolers Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 14. Europe Air Coolers Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 15. Europe Air Coolers Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Air Coolers Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 17. France Air Coolers Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 18. Germany Air Coolers Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 19. Italy Air Coolers Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 20. Spain Air Coolers Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 21. Sweden Air Coolers Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 22. CIS Countries Air Coolers Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 23. Rest of Europe Air Coolers Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 24. Asia Pacific Air Coolers Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 25. Asia Pacific Air Coolers Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Air Coolers Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 27. India Air Coolers Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 28. Japan Air Coolers Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 29. South Korea Air Coolers Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 30. Australia Air Coolers Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 31. ASEAN Air Coolers Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 32. Rest of Asia Pacific Air Coolers Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 33. Middle East Africa Air Coolers Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 34. Middle East Africa Air Coolers Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Air Coolers Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 36. GCC Countries Air Coolers Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 37. Egypt Air Coolers Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 38. Nigeria Air Coolers Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 39. Rest of ME&A Air Coolers Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 40. South America Air Coolers Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 41. South America Air Coolers Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Air Coolers Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 43. Argentina Air Coolers Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 44. Rest of South America Air Coolers Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Type , 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Application , 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Air Coolers Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Applications 45.2.3.2. M&A Key Players, Forward Integration and Backward Integration 45.3. Company Profile : Key Players 45.3.1. Bajaj Electricals Limited 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.4. Symphony Limited 45.5. Bajaj Electricals Limited 45.6. Havels India Limited 45.7. Honeywell International Inc. 45.8. Aolan (Fujian) Industry Co., Ltd. 45.9. Luma Comfort 45.10. AirGroup, Seeley International Pty Ltd. 45.11. Fujian Jinghui Environmental Technology Co., Ltd. 45.12. De’Longhi Appliances S.r.l. 45.13. Evapolar 45.14. Future Home Group 45.15. Thane IP Limited 45.16. Ontel Products Corporation 45.17. HoMedics USA LLC 45.18. CoolAir 46.Primary Key Insights
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