Evaporative Coolers Market to surpass $8.5 Bn By 2032, Says Global Market Insights Inc.
Major evaporative coolers market participants include Munters Cajun Kooling LA, Honeywell International Inc., Frigidaire LLC, Portacool LLC, Hessaire, and Big Ass Fan.
Selbyville, Delaware,, March 06, 2024 (GLOBE NEWSWIRE) --
The evaporative coolers market is expected to reach USD 8.5 billion by 2032, as reported in a research study by Global Market Insights Inc.
The industry growth is driven by the increasing global temperatures and the prevalence of hot climates in regions such as the Middle East, North Africa, and parts of Asia. According to the Climate Change Report by Nasa, in 2023, Earth experienced a temperature increase of approximately 2.45 degrees Fahrenheit (equivalent to roughly 1.36 degrees Celsius) compared to the preindustrial average of the late 19th century (1850-1900). The data further revealed that the ten most recent years have consistently ranked as the warmest on record.
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Evaporative coolers offer an energy-efficient and environmentally friendly alternative to air conditioning systems, making them particularly attractive in areas where electricity costs are high or where access to electricity is limited. Additionally, the rising awareness of the environmental impact of conventional cooling methods, such as refrigerant-based air conditioners, encourages consumers and businesses to opt for evaporative coolers, will stimulate the evaporative coolers market growth.
The growing emphasis on energy efficiency and sustainability in building design & construction fuels the adoption of evaporative coolers in commercial, industrial, and residential applications. Building codes & regulations aimed at reducing energy consumption drive the industry growth.
Online segment is slated to generate significant revenues by 2032, as the increasing accessibility and convenience of online shopping platforms have made it easier for consumers to research and purchase evaporative coolers from the comfort of their homes. With a wide range of products availability, consumers have access to a diverse selection, allowing them to compare features, prices, and customer reviews before making a purchase decision. Furthermore, online retailers often offer competitive pricing and exclusive deals, attracting budget-conscious consumers seeking cost-effective cooling solutions.
Evaporative coolers market from industrial segment is poised to create notable demand during 2024 and 2032, as they encompass large, open spaces with high heat loads from machinery and equipment. Evaporative coolers offer a cost-effective and energy-efficient solution for industrial cooling needs, providing substantial savings compared to traditional air conditioning systems. Moreover, these coolers are well-suited for industrial environments due to their ability to deliver large volumes of cool air while effectively managing humidity levels. Their robust construction and durability make them reliable choices for harsh industrial conditions.
Europe evaporative coolers market share is touted to surge at a rapid pace through 2032, backed by the region's increasing focus on energy efficiency and sustainability. With stringent regulations aimed at reducing carbon emissions and energy consumption, evaporative coolers offer an environmentally responsible alternative to traditional air conditioning systems. In addition, Europe's diverse climate, characterized by both hot summers and mild winters, creates a significant demand for efficient cooling solutions, further driving industry expansion.
The key players involved in the global evaporative coolers market are Munters Cajun Kooling LA, Honeywell International Inc., Frigidaire LLC, Portacool LLC, Hessaire, and Big Ass Fan among others.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Evaporative coolers Industry 3600 synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Type trends
2.5 Mounting type trends
2.6 Sales channel trends
2.7 End-use trends
Chapter 3 Evaporative Coolers Market Insights
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.6.1 Partnership/Collaboration
3.6.2 Merger/Acquisition
3.6.3 Investment
3.6.4 Product launch & innovation
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.2 Industry pitfalls & challenge
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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