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:
