Portable Evaporative Cooler Market Research Report and Outlook by 2028

The market for portable evaporative coolers is projected to expand from approximately US$ 2,475.98 million in 2022 to around US$ 4,036.55 million by 2028, reflecting a compound annual growth rate (CAGR) of 8.5% during this period.

As technology continues to evolve, many individuals are upgrading their residences into smart homes equipped with the latest devices. This trend is largely fueled by robust infrastructure and thriving economies. In regions such as the UK, Germany, France, the US, China, Japan, South Korea, the UAE, and Saudi Arabia, consumers are increasingly inclined towards premium products, thanks to their strong purchasing power and high disposable incomes. This shift towards sophisticated offerings is prompting market players to develop advanced, customized, and high-end products. Additionally, the rising awareness of healthy living has led to a growing demand for Wi-Fi-enabled portable coolers.

In 2019, NewAir Appliances introduced a new tower fan and portable evaporative cooler that allows users to tailor the cooling output to their specific needs. The NewAir EC300W is particularly suited for individuals residing in dry or arid climates, functioning as a full-time evaporative cooler when the water reservoir is filled. This innovative cooler enables users in areas with varying humidity levels to adjust their cooling preferences on dry days or switch to a fan-only mode effortlessly. Furthermore, advancements in technology have led to the incorporation of dehumidification and humidification features in portable evaporative coolers, enhancing their overall efficiency.

Consequently, the growing interest in evaporative cooling solutions is spurring technological innovations, such as digital touch displays and remote control functionalities, which are anticipated to present lucrative opportunities for players in the portable evaporative cooler market throughout the forecast period.

Impact of the COVID-19 Pandemic on the Portable Evaporative Cooler Market

The COVID-19 pandemic significantly affected nearly all sectors globally in FY 2020, as lockdown measures implemented by various nations disrupted supply chains and created a gap between demand and supply. One of the notable consequences of the pandemic on the North American market was a decline in investments in evaporative cooler technologies. Nevertheless, research indicates that the market is expected to recover by the second quarter of 2023.

In North America, the COVID-19 pandemic impacted end users of portable evaporative coolers to varying extents. The hospitality sector, including hotels, restaurants, and entertainment venues, faced challenges due to fears of virus transmission, even after reopening. Additionally, health concerns among consumers significantly hindered the growth of the portable evaporative cooler market during the pandemic in North America.

The surge in COVID-19 cases led governments in North America to close borders in the second quarter of 2020. Manufacturing plants were either temporarily shut down or operated with reduced staff. Furthermore, the supply chains for components and parts experienced significant disruptions. The United States, being the largest market for portable evaporative coolers, particularly due to its advanced food and beverage and industrial manufacturing sectors, saw a drastic decline in production and revenue generation as a result of reduced output across various industries. Consequently, the adverse effects of the COVID-19 pandemic on the portable evaporative cooler market persisted in North America until the second quarter of 2021.

Key global players in the portable evaporative cooler market include Symphony Limited, Portacool Inc, Coolboss LLC, Schaefer, Texel, and Honeywell International Inc. A comprehensive analysis of several other market participants has been conducted to provide a well-rounded perspective on the global portable evaporative cooler market size and its ecosystem.

The overall size of the portable evaporative cooler market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the portable evaporative cooler market. This approach also aimed to provide an overview and forecast of the market size across all segments. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this process included VPs, business development managers, market intelligence managers specializing in portable evaporative coolers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders in the portable evaporative cooler sector.