Air cooler demand will grow at 11.6% CAGR through 2032

NEWARK, Del, Jan 09, 2023 (GLOBE NEWSWIRE) – According to Future Market Insights, the global air cooler market is expected to reach $5.4 Bn by 2032 based on an assessment of $1.8 Bn in 2022. The market is expected to grow exponentially from 2022 to 2032 displaying 11.6% CAGR.

Air cooler demand will grow at 11.6% CAGR through 2032


Air coolers are considered widespread and classic refrigeration products. They are mainly used in the domestic segment, commercial kitchens and warehouses. As a result, the residential segment is expected to witness significant demand for air coolers, especially tower air coolers, throughout the projected period.

However, other types of air coolers are expected to find continued demand in the market as well, as they can be installed on walls and therefore take up less space. Additionally, air coolers are reasonably priced, making them the best choice for homes and small businesses.

Installing air coolers in data centers is a developing trend in the air cooler industry, and rising disposable income is expected to contribute significantly to the increased demand for air coolers over the next ten years. Solar powered coolers are another growing trend in the air cooler market. The falling cost of solar modules and growing awareness of the environmental benefits of using renewable resources are likely to encourage their use in place of traditional air cooling systems.

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Key findings of the Air Cooler market research

  • Leading air cooler manufacturers around the world generated nearly 12%-15% of global market share in 2021.
  • During the historical period (2017-2021), the global air cooler market recorded approximately 7.8% CAGR.
  • The Chinese air cooler market is expected to grow at a CAGR of around 10.8% during the estimated period.
  • Based on application, the residential category had a CAGR of nearly 6.1% from 2017 to 2021.
  • The US air cooler market is estimated to grow at a CAGR of approx. 8.4% in the next ten years.

“To meet strong consumer demand for air coolers, manufacturers are developing new technology products across multiple categories. The introduction of energy-efficient inverter air coolers and awareness of CFCs are driving the air cooler market,” says the IMF analyst.

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Competitive landscape: air cooler market

Major players in the global market want to expand internationally, entering specialized areas through mergers and acquisitions and joint ventures. Symphony, for example, bought Munters Keruilai Air Treatment Equipment Co., Ltd. to expand its presence in China.

Manufacturers are also focusing on increasing their research and development (R&D) spending for product innovation and manufacturing smaller, streamlined, modern air coolers. Furthermore, producers ensure that their products are effective enough for large rooms as well as outdoors.

The major players present in the air coolers market are Voltas Ltd., Bajaj Electricals Limited, Daikin Industries Ltd., Symphony Limited, Seeley International Pty Ltd., Havels India Limited, AirGroup, Honeywell International Inc., Intex Technologies, Aolan (Fujian ) Industry. Co., Ltd., Haier Inc. and Luma Comfort, among others.

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1. Summary

1.1. Global market outlook

1.2. Demand Side Trends

1.3. Supply side trends

1.4. technology roadmap

1.5. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Main Market Trends

3.1. Key trends impacting the market

3.1.1. Portfolio innovations and extensions leading to product premiumization

3.1.2. Increase the disposable income of the middle class population

3.1.3. Growing growth of global heating fuels market

3.2. Product Innovation / Development Trends

3.3. Top 10 in 2022

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Get more valuable information about Air Cooler market

Future Market Insights, in its new offering, provides an unbiased analysis of the Air Cooler market, presenting historical demand data (2017-2021) and forecast statistics for the period 2022-2032. The study reveals interesting insights into the Air Cooler market by product type (dessert coolers, tower coolers and others), by application (residential and commercial), by sales channel (wholesalers/distributors, hypermarkets/supermarkets, multi-brand store , small stores, department stores, online retailers, other sales channels) and the region.

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