Air coolers market is estimated to grow at a CAGR of 10.5% during the forecast period. Rising demand for energy-efficient air coolers and innovations in air coolers are some pivotal factors encouraging market growth. The demand for energy-efficient air coolers has emerged significantly as it consumes less energy than ACs. It consumes up to 10 times less energy compared to ACs. Air coolers consume less electricity and can also work in low voltage areas, which results in significantly lower monthly electricity/power bills. Additionally, air coolers need low maintenance and offer potential environmental benefits with very low power consumption and no harmful chlorofluorocarbons (CFC) emissions.
Air coolers utilize clean, fresh air from the environment and support to keep windows open for better air circulation, however, ACs circulate stale air under a sealed room. Air coolers feature low capita cost and 90% low recurring cost than ACs, with easy and cost-effective maintenance. This, in turn, is contributing to its significant adoption, primarily in residentials. Further, some innovations in air coolers have been witnessed over the years. For instance, in March 2020, Orient Electric Limited, a division of CK Birla Group, introduced its new range of energy-efficient inverter air coolers driven by Electronically Commutated Motor (ECM) technology that offers up to 50% savings on electricity and energy cost. Its coolers range also comprises IoT-enabled air coolers, work on Wi-Fi, and also available with voice control. Orient Electric is focusing on gaining a 25% market share in the air coolers over the two years. Therefore, the company is focusing on new innovative launches to increase their competitiveness.
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Air Coolers Market-Segmentation
By Type
· Tower
· Desert
· Others
By Application
· Residential
· Commercial
A full Report of Air Coolers Market is Available @ https://www.omrglobal.com/industry-reports/air-coolers-market
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
Company Profiles
- Adler Sp. z o.o.
- Alfa Laval Corporate AB
- Aolan (Fujian) Industry Co.,Ltd.
- Bajaj Electricals, Ltd.
- Blue Star, Ltd.
- Clarion Coolers
- De’Longhi Appliances S.r.l.
- Ecoair Cooling Systems Pvt. Ltd.
- Fujian Jinghui Environmental Technology Co., Ltd.
- Havells India, Ltd.
- Honeywell International, Inc.
- KAAVA Air Innovations Pvt. Ltd.
- Kelvion Holding GmbH
- LG Electronics
- NewAir
- Oasis Appliances
- Olimpia Splendid S.p.A.
- Orient Electric, Ltd.
- Rasika Appliances Pvt. Ltd.
- Symphony, Ltd.
- Usha International, Ltd.
- Vankool Technology Co.,Ltd.
- Voltas,Ltd.
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About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
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Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
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Article source: https://article-realm.com/article/Business/61016-Air-Coolers-Market-to-Signify-Strong-Growth-by-2024-2031.html
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