Surging construction in the residential sector and the rising demand for multi-functional appliances are creating lucrative growth prospects for desert air cooler market, finds a new market intelligence study. Desert air coolers are energy efficient, they reduce carbon footprint, and are pollutant free. They also consume less electricity and therefore make for a cost efficient option.
Desert air coolers, also known as evaporative air coolers use the phenomenon of evaporation to reduce temperature in the surrounding area. Increasing technological advancements and rising disposable income are a few factors favoring the expansion of the market.
When compared to evaporative air coolers, traditional conditioners are far costlier in terms of maintenance and require higher energy. Evaporative air cooler especially the portable ones are currently enjoying the spotlight because they are easy to transport and offer greater convenience and efficiency.
Key Takeaways from Desert Air Cooler Market Report:
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The desert air cooler market is expected to rise at a CAGR of 10.2% during the period of 2020-2030
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The market is predicted to reach a value of US$ 2.9 Bn by the end of the forecast period
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Favorable geographical conditions and willingness among consumers to spend on multi-functional appliances are favoring growth in East Asia and South Asia
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The 50-60 Lt desert air coolers are gaining traction due to their greater lifecycle.
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Evaporative air cooler residential models are in high demand and will continue being a top choice among consumers through the forecast period
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Mini desert air coolers are popular in the market due to their convenient and suitable features.
"Thanks to soaring environmental concerns, consumers are rendered conscientious. Leading brands are therefore focusing on offering innovations to increase energy efficiency of their products. Besides this, they are focusing on improving their online presence to gain competitive advantage," said a lead analyst.
COVID-19 Impact Analysis
The COVID-19 pandemic severely affected all sectors, including the desert air coolers market. Bans imposed on travel and transport had disrupted the sourcing of raw materials, bringing production to a halt. The implementation of lockdowns in several countries during the summer decreased sale of commercial air coolers.
Decline in sales caused the price of desert air cooler prices to increase. While the market hit a low in 2020, it is expected to recover and grow at a steady pace due to increasing concerns regarding the environment once the coronavirus passes.
Who Is Winning?
Key players in the market are now focusing on introducing intelligent technologies in commercial air coolers to increase their convenience. Artificial Intelligence is being incorporated to increase efficiency and improve energy conservation. The introduction of multifunctional air coolers has boded well for the market since they perform better than a cooler, a fan, or a humidifier.
Some of the key players in the market are Fujian Jinghui Environmental Technology Co. Ltd., Bajaj Electricals Ltd., Delta Cooling Tower Inc., Climate Technologies, Havells India Ltd., LG Electronics Inc., Orient Electric Limited, Samsung Group, Symphony Limited, Honeywell International Inc., GE Appliances, Aolan Industry Co. Ltd., Sharp Corporation and Koninklijke Philips N.V.
These insights are based on a report on Desert Air Cooler Market by Future Market Insights.