Portable Air Conditioners Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
The increasing awareness about energy-efficient and environment-friendly devices is propelling growth of the global portable air-conditioner market. Governments across the globe are making several efforts to encourage the use of innovative and energy-efficient products. This is for the purpose of minimization and control of consumption of high energy. This is due to the fact that electronic appliances make use of nearly half of the total energy disbursed for use in both residential and commercial buildings. This has resulted in the augmented demand for portable air conditioner. Portable air conditioners are ENERGY STAR-certified product, which means improved functionalities, reduced consumption of energy, and saves cost of energy.
The global portable air conditioners market has been segmented based on type, application, distribution channel, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.
The global portable air conditioners market has come across quite a few developments in the last few years. One such development of the market is mentioned below:
Some of the key market players of the global portable air conditioners market are
Smart Portable Air Conditioners to Spell Growth of the Market
A portable air conditioner refers to a self-contained movable system that is ideal for the purpose of cooling down a single room. Portable air conditioners are positioned specifically on the floor and they have an installation kit for facilitating a quick setup of the system. Most of the models also come with wheels, and thus are portable. This makes them a suitable alternative to the window units, which is likely to drive the global portable air conditioner market in near future.
In addition, the smart portable air conditioners have come as an emerging trend and are influencing the market in a positive way. Wireless and smart operable air conditioners are gaining traction as it can be operated through smartphone to bring change in the room temperature. It is also capable of adjusting the control modes. Smart portable air conditioners also come with Wi-Fi operability and remote control, thereby encouraging increased adoption by the consumers. Furthermore, the growing awareness about energy-efficient and environment-friendly devices is likely to drive the global portable air conditioner market in near future.
With the relentless technological advancements, consumers are more willing to purchase the next-generation portable air conditioners that are more easy to use and are multi-functional. Manufacturers found in the global portable air conditioners market are integrating various topnotch technologies such as Internet of Things (IoT).The system comes with a variety of sensors in a bid to automate multiple tasks of the machine. As consumers are opting for air conditioners that make less noise, prominent market players are trying to introduce portable air conditioners. These portable air conditioners also come with advanced settings such as sleep-mode operation, dehumidifiers, and are quieter. These advanced settings are likely to offer ample opportunities for growth of the global portable air conditioner market.
Based on the parameter of region, the global portable air conditioner market is categorized into the territories of Latin America, Asia Pacific Excluding Japan (APEJ), Middle East and Africa, North America, Europe, and Japan. Portable air conditioners are widely used in commercial spaces in the North America region. The Asia Pacific excluding Japan region is estimated to expand rapidly due to continuous technological advancement and increasing disposable income.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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