Global Dry Air Cooler Market by Types (Tower, Desert, Personal, Window, and Others), Applications (Household and Commercial), and Regions (Asia Pacific, Europe, North America, Middle East & Africa, and Latin America) – Global Industry Analysis, Growth

The global dry air cooler market was valued at USD 1.4 billion in 2019 and is expected to reach USD 2.2 billion by 2026, expanding at a CAGR of around 7 % during the forecast period, 2020 – 2026. The market development is credited to economical and proficient cooling, less electricity consumption when contrasted with AC, use in open air space, and innovation in products. Dry air cooler lower around 80% - 90% of power bills when contrasted with ACs, thereby, making them affordable and efficient in the long run. In addition, the product is eco-friendly and works as a humidifier in dry climate.

Air cooler is the utilization of air-cooled heat exchanger of the fluid. The hot liquid inside the channel is warmed through the funnel divider and blade and the air outside the funnel. The air utilized is normally provided by the ventilator. Air coolers work through the rule of dissipation. It utilizes basic air moving procedure that gets natural air from outside passing through wet cooling cushions, which assimilate the warmth from the surrounding and do not make it dry like ACs. Cooling agents such as HCFC, CFC, and various other hydrofluorocarbons which are utilized the ACs to cool surrounding are not used by dry air coolers, making it more eco-friendly.

Market Trends, Drivers, Restraints, and Opportunities:

Consumption of less power and efficient cooling are the major reasons for the growth of the market.

Affordable cost than the ACs is another factor driving the growth of the market.

Innovations made to improve the product may result in the growth of the market during the forecast period.

Rising cooling capacity and decreasing maintenance cost are expected to drive the growth of the market.

Portability and ease in installation are some of the factors contributing to the growth of the market.

For coastal areas and humid regions, the air coolers are not efficient and this act as a restrain for the growth of the market.

Air coolers take a lot of space and does not go with the aesthetics which may hamper the market growth.

Scope of the Report

The report on the global dry air cooler market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes Details
Base Year 2019
Historic Data 2015–2018
Forecast Period 2020–2026
Regional Scope Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America
Report Coverage Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Global Dry Air Cooler Market Segment Insights:

Based on types, the global dry air cooler market is segmented into tower, desert, personal, window, and others. Tower holds most of the market share of this segment and is expected to remain dominant during the forecast period. The compact design, less cost and stylish design are the factors which made consumers inclined towards the tower air coolers.

In terms of applications, the global dry air cooler market is bifurcated into household and commercial. Household segment comprises of the majority of the market share and is expected to witness a significant growth during the forecast period. Increasing income of people and growing adoption of dry air coolers in rural and urban area is the major factor contributing to the growth of this market.

On the basis of regions, the global dry air cooler market is segmented into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Asia Pacific is the most dominant segment and is expected to be dominant during the forecast period. The main reason for the dominance of Asia Pacific is due to the rising temperature and considerable change of climate in this region which is increasing the demand for dry air coolers.

Competitive Landscape:

Major companies in the global dry air cooler market include Symphony Ltd., De’Longhi Appliances, Seeley International Pvt Ltd., Aolan Industry Co., Havels India Limited, Air Group, Fujian Jinghui, Luma Comfort, Honeywell International, Kenstar, Bajaj Electronics, Orient Electronics, and Crompton Greaves. Companies in the dry air cooler market are engaging in strategies such as R&D, agreements, and collaborations to gain market share. Major companies are trying to create new innovative dry air coolers which will help them gain more market share.

Companies in the dry air cooler market are entering into niche markets to expand their footprints globally through various mergers and acquisitions. Munters Keruilai Air Treatment Equipment Company was acquired by Symphony, to expand the market of Symphony in China. Movicool was introduced by Symphony in 2019, as the first commercial air cooler of India. Movicool can be used for large spaces and it can be used for indoor as well as for outdoor cooling.

The global dry air cooler market has been segmented on the basis of

Types

Tower
Desert
Personal
Window
Others

Applications

Household
Commercial

Regions

Asia Pacific
Europe
North America
Middle East & Africa
Latin America