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Evaporative Air Coolers Market Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Overview:

Evaporative air cooling is an economical and pollutant-free alternative to traditional air conditioning systems. The market for evaporative air coolers is promising due to rising demand for low-cost, energy-efficient, and environmentally friendly cooling alternatives. Growing awareness regarding environmental preservation in terms of eliminating air and water pollutants (e.g., oil, refrigerants, etc.) is expected to continue driving the evaporative air conditioner market's growth in the coming years. Evaporating air coolers are highly favored over conventional air conditioning systems for large industrial and commercial spaces, owing to the high energy and maintenance costs of the latter. However, high consciousness towards dry air and noisy and manual water pouring systems hamper the portable evaporative air cooler market's growth.

The market is primarily dependent on industrial manufacturing and processing and power generation segments, with these segments contributing more than 50% of the total market value generated worldwide. With consistent growth expected across sectors, the evaporative air cooler market is expected to grow strongly during the forecast period. Mounting concerns related to global warming and rising energy costs coupled with a power shortage are some other promising factors influencing the market for evaporative air coolers.

The overall evaporative air cooler market is segmented by type into portable and external evaporative air coolers. External evaporative air coolers are a low-cost and energy-efficient solution that is widely used in a variety of industrial sectors. Effective cooling, less noise, and a permanently connected water supply are some of the prominent factors influencing positive growth for the external evaporating air coolers segment. Thus, external evaporative coolers are set to retain their dominance in the market throughout the forecast period.

Asia Pacific is the largest regional market for evaporative air coolers owing to the presence of a huge industrial sector in the region. The market is largely governed by countries such as China, Japan, South Korea, and India, among others, that have large industrial manufacturing, processing, and power generation sectors. Further, due to initiatives such as "Make in India," the manufacturing sector in Asia Pacific is set to witness robust growth in the years to come. This is further expected to ensure steady market growth during the forecast period.

Major drivers of the evaporative air cooler market:

  • Rising energy costs
  • Global warming
  • Universal demand for high-efficiency products
  • Growing industrialization
  • Lower maintenance and operational costs
  • growing emphasis on sustainable cooling equipment
  • Increasing the application area of evaporative air coolers

Major restraints in the evaporative air cooler market:

  • high initial costs
  • high water consumption
  • Lack of air filtering
  • Dry and hot air limitations

The global evaporative air cooler market is segmented on the following basis:

Product Type

  • Portable Evaporative Coolers
  • External Evaporative Coolers

Industry Vertical

  • Manufacturing and Processing Industries
  • Agriculture
  • Residential
  • Commercial
  • Power Generation

Geography

  • North America
  • U.S.
  • rest of North America

Europe

  • U.K.
  • Germany
  • France
  • Rest of Europe

Asia Pacific

  • Japan
  • China
  • South Asia
  • Rest of Asia Pacific

Rest of the World (RoW)

  • Middle East and Africa (MEA)
  • Latin America

The following companies have been identified as key players in the evaporative air coolers market:

Celcius Design Ltd., Colt Group Ltd., Condair Group, Delta Cooling Tower, Inc., EcoCooling, Baltimore Aircoil Company, SPX Cooling Technologies, Inc., AirGroup Australia, Climate Technologies, Brivis Climate Systems Pty Ltd., and others

Frequently Asked Questions:

The market for Evaporative Air Coolers is expected to reach US$ XX Mn in 2026.

The Evaporative Air Coolers market is expected to see significant CAGR growth over the coming years,at XX%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

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Godaddy
Published Date:  Apr 2018
Category:  Automation & Process Control
Report ID:   59081
Report Format:   PDF
Pages:   120
Rating:    4.3 (65)
Delivery Time: 24 Hours to 48 Hours   
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