Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Portable Air Conditioning Market (Type: Portable Air Conditioner For Small Room, Portable Air Conditioner For Medium Room, Portable Air Conditioner For Large Room; Application: Residential Care Facilities & Apartment Communities, Factories & Warehouses, Medical & Hospitals, Equipment & Server Rooms, Other) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2025”, estimates that global portable AC market is expected to reach the market value of around $1.7 billion by 2025 and is projected to grow at a CAGR of around 10.9% in terms of revenue during the period 2018 – 2025.
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Perfect for a spread of cooling space, portable air conditioners are nice alternatives to ancient air-conditioner systems as a result of their physical features such as being compact and mobile, and need no permanent installation. Moreover, as a result of their typical cooling flow to dedicated part of home or as a supplement to central air conditioners; they'll be rather more cost-efficient to run. Portable air conditioners use refrigerants to cut back the temperature. Throughout the cooling method, wet is condensed out of the air and picked up in an exceedingly drain bucket or exhausted out through a drain hose or gaseous out area. The heating uses PTC heating technology, quick heat transfer, high potency, and low power consumption resulting in growth of the market.
Currently, a significant challenge moving the market growth is the significantly higher power consumption of portable air conditioning as compared to alternative electrical appliances. However, this is often successively increasing the demand and scope for energy-efficient models. Also, the carbon emission related to usage of portable air conditioning is further deterring the market growth and is anticipated to own important impacts in near future, if not self-addressed properly. This is primarily due to regulations in reducing gas emission and following many relevant international treaties and agreements like the urban center protocol and metropolis protocol.
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Some of the factors supporting the growth of portable air conditioning market worldwide include replacement for traditional ACs in developed regions like North America and Europe, growing awareness regarding energy-efficient and eco-friendly products, and increasing demand for technologically advanced portable air-con with wise cooling. Additionally, enhancements in housing construction style and rise in variety of building permits specifically for industrial infrastructures, is aiding the expansion of portable air conditioning market. Rise in construction activities in different business verticals is anticipated to support the acceptance of portable air-conditioning systems and drive the demand within few years.
Stringent Government Regulations to Aid Growth of Market
Acumen Research study shows that, the development of worldwide portable AC is significantly by virtue of the developing household and commercial sectors. This is on the grounds that, the expansion of construction sector particularly makes an uplifted requirement for portable ACs. Strict government regulations and strategies, developing customer desires and innovative headways are additionally helping drive the development of worldwide portable AC market. The interest for portable AC is exceptionally solid from business segment in the Asia-Pacific region by virtue of climatic varieties. The rising awareness with respect to the need to balance the nature of air is additionally prompting an expansion in the take-up of portable AC in near future.
Regional Analysis
Asia-Pacific accounted for the largest market share in 2017; rapid growing economies such India and China are predictable to be the principle growth regions. This can be credited to the growing awareness and inclination towards advanced energy efficient products and rising disposable income of buyers in the region and increasing awareness and inclination towards advanced power efficient products. As far as revenue is concerned, Europe is projected to be the second leading market after Asia-Pacific over the forecast timeframe as a result of initiatives from authoritarian bodies to control energy consumption and need for replacement of existing equipment.
Global portable AC market is segmented by type, application and geography. Based on different types, the market is segmented into portable air conditioner for small room, portable air conditioner for medium room, portable air conditioner for large room. Also, application is further bifurcated into residential care facilities & apartment communities, factories & warehouses, medical & hospitals, equipment & server rooms, and others. Based on geography, the market is further classified into North America, Europe, China, Japan, South Korea, India, Rest of World.
Portable Air Conditioner For Medium Room Held Largest Share In Portable AC Market in 2017
Among portable AC applications, portable air conditioner for medium room segment held principle share as far as income and utilization in 2017. With cooling limits extending from 7,000 BTUs to 10,000 BTUs, these portable ACs cool little to medium-sized rooms ranging from 100 to 300 square feet. Every unit is ideal for use in a common size room, a little office, a tiny-vehicle garage, or a little PC server room (with conventional 8-foot roofs). They're additionally cost and energy efficient when used as an alternative for central AC and consequently hold the prime share of overall market and is predicted to keep up its prevalence over coming years.
Key Players
The market is very focused with numerous worldwide players working in similar geologies, with modest product differentiation. Additionally the worldwide players need to contend with local players who offer comparable items at less expensive rates. The nearby players additionally approach a solid circulation channel which causes them to contend with worldwide players. Some of the key players operating in the global portable AC market, profiled in the report include Daikin, LG, Haier, Whynter, Electrolux, Denso, Friedrich Air Conditioning, Carrier among others.