According to a new market research report published by Credence Research, “Portable Air Conditioners Market – Growth, Future Prospects, and Competitive Landscape, 2018 -2026”, the global market for portable air conditioners is expected to expand to CAGR by 5.2% between 2018 and 2026.
Portable air conditioners are easy-to-move, self-contained units that pull fresh air in, remove heat and moisture, and release cooler air into the environment. The portable air conditioning unit is suitable for cooling rooms under 500 sq. Ft. and thus are primarily installed either in residential units or in small commercial outlets. In terms of end-use, the adoption of portable air conditioners was the highest in the residential sector. The trend is expected to continue with the residential segment holding the largest value contribution by 2026. Improving living standards due to increased discretionary income and rapid urbanization will see an increase in the number of housing units, which, in turn, will trigger new installations of portable air conditioning units worldwide. In commercial spaces, these units are generally installed as a complementary solution in those hot rooms that exist even with the presence of central air conditioning.
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In terms of sales channels, the global market for portable air conditioners was led by direct retail in 2017. Approximately three-fourth of the total sales of portable air conditioners were made through direct retail outlets. However, with the changing digital habits of consumers all over the world, demand for portable air conditioners through the online retail channel will gain momentum during the forecast period from 2018 to 2026.
These manufacturers have concentrated their efforts on developing energy-efficient, portable units equipped with photosensors that make air-conditioning units shut down automatically when there are no people around, saving electricity consumption and saving on electricity bills. Manufacturers focus on aligning themselves with the on-going trend of smart automation by developing smart, state-of – the-art portable air conditioners that can be operated using smartphones to adjust temperature, fan speed and control modes. In an effort to offer quality after-sales service and remain ahead of competition, each manufacturer also focuses on strengthening the distribution channel and building partnerships with participants across the supply chain.
Some of the leading portable air conditioner manufacturers profiled in the research study include LG Electronics Inc. (South Korea), AMFAH (India), AB Electrolux (Sweden), Whynter LLC (the U.S.), Royal Sovereign International, Inc. (the U.S.), LLYOD, Paradis Hitech Industries Pvt. Ltd. (India), Midea Group (China), and Olimpia Splendid S.p.A (Italy) among others.
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Report Scope by Segments
By End-use Segment
- Medical & Hospitals
- Corporate Businesses
By Sales Channel Segment
- Direct Retail
- Online Retail
By Geography Segment
- North America (U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (Middle East & Africa, Latin America)