Europe Air Coolers Market by Type (Tower, Desert, and Other Types), by Size (Spot Coolers, Medium Space Coolers, and Large Space Coolers), and by Application (Residential and Commercial) – Opportunity Analysis and Industry Forecast 2024–2030
Industry: Retail and Consumer | Publish Date: 21-Mar-2024 | No of Pages: 148 | No. of Tables: 108 | No. of Figures: 73 | Format: PDF | Report Code : N/A
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Market Definition
Europe Air Coolers Market size was valued at USD 377.4 million in 2023 and is predicted to reach USD 582.8 million by 2030, with a CAGR of 5.8% from 2024 to 2030. Air coolers, also known as evaporative coolers or swamp coolers, are devices designed to cool indoor or outdoor spaces by utilizing the natural process of evaporation. These appliances typically consist of a fan, a water reservoir, and porous pads or filters. They offer benefits such as lower energy consumption, eco-friendliness, and affordability compared to conventional cooling methods. Air coolers come in various sizes and capacities to suit different applications, ranging from small portable units for personal use to larger systems for commercial and industrial settings.
Growing Temperatures Across Europe Fuels Air Coolers Market Growth
Rising temperatures across Europe have heightened concerns regarding heat stress, prompting an increased demand for effective cooling solutions. This concern is particularly pronounced in countries such as the UK, Germany, and France, which boast the highest market share in the region.
The summer of 2022, characterized by prolonged heatwaves and high energy prices, has underscored the urgency of addressing heat stress and the necessity for efficient cooling solutions. Record-breaking temperatures across Europe have led to an unprecedented surge in demand for air coolers as individuals and businesses seek relief from excessive heat. This surge is especially notable in countries including Italy and Spain, which experienced severe heatwaves during this period.
Growing Urbanization Drives the Air Coolers Market Expansion
In addition to economic prosperity, urbanization rates contribute to the growth of the air cooler market in Europe. Urban dwellers, facing higher temperatures and limited natural ventilation, seek efficient cooling options to maintain comfortable living and working environments. Countries such as Norway, Sweden, and the Netherlands, with high urbanization rates and strong growth prospects, exhibit the highest growth rates in the region.
Challenges of Air Coolers in Humid and Coastal Environments Hinders the Growth of the Air Coolers Market
The inefficiency of air coolers in humid and coastal areas presents a significant challenge for the widespread adoption and growth of the air cooler market. Air coolers may struggle to effectively cool indoor spaces due to the already moisture-laden air in regions characterized by high humidity levels, such as coastal areas or tropical climates. This is because the cooling mechanism of air coolers relies on water's evaporation to lower the air's temperature. In humid conditions, where the air is already saturated with moisture, evaporation is less efficient, resulting in limited cooling capacity and reduced effectiveness of air coolers.
Technological Advancements to Create Future Market Prospects
Technological advancements represent a significant opportunity for the future growth of the air coolers market. Continuous innovation has resulted in the development of increasingly efficient and feature-rich air cooler models. These advancements encompass various aspects, including enhancements in fan design, evaporative cooling technology, and the integration of intelligent features such as remote control and programmable settings, collectively enhancing the overall user experience.
As technological advancements evolve, the air cooler market is poised to benefit from introducing innovative features and capabilities that address consumer needs and preferences, such as energy efficiency, portability and space-saving design, quiet operation, and air quality improvement. These technological advancements enhance the performance and functionality of air coolers and contribute to their differentiation in a competitive market landscape. Moreover, integrating intelligent technologies opens up opportunities for connectivity and interoperability with other smart home devices, further enhancing the appeal and adoption of air coolers among tech-savvy consumers.
Germany Holds the Dominant Market Share in the European Market
The growth of the air cooler market in Germany is propelled by the increasing disposable income of the population, which fuels higher spending on household appliances, including cooling solutions. According to the OECD Better Life Index, Germany boasts an average household net-adjusted disposable income per capita of USD 38,971 per year, surpassing the Organization for Economic Co-operation and Development (OECD) average. This rising disposable income enables consumers to invest in air coolers to enhance their quality of life and ensure indoor comfort during warmer seasons.
Norway is Expected to Show Steady Growth in the European Air Coolers Market
The expansion of the air coolers market in Norway is being propelled by the trend of rising urbanization. As more people migrate to urban areas seeking better opportunities and amenities, the demand for air coolers increases due to the higher population density and the need for efficient cooling solutions in urban environments. This demographic shift, coupled with the desire for comfortable living conditions in densely populated cities, has led to a significant uptick in the adoption of air coolers across various urban centers in Norway.
Competitive Landscape
The Europe Air Coolers industry includes several market players such as Symphony Ltd, Midea Group Co. Ltd., Voltas, Havells India Ltd., Portacool LLC, Bajaj Electricals Ltd., Crompton Greaves Consumer Electricals Ltd., Orient Electric, Usha International Ltd., and Fujian Jinghui Environmental Technology Co., Ltd.
Europe Air Coolers Market Key Segments
By Type
-
Tower
-
Desert
-
Other Types
By Size
-
Spot Coolers
-
Medium Space Coolers
-
Large Space Coolers
By Application
-
Residential
-
Commercial
By Country
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The UK
-
Germany
-
France
-
Italy
-
Spain
-
Denmark
-
Netherlands
-
Finland
-
Sweden
-
Norway
-
Russia
-
Rest of Europe
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 377.4 Million |
|
Revenue Forecast in 2030 |
USD 582.8 Million |
|
Growth Rate |
CAGR of 5.8% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Countries Covered |
11 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
-
Symphony Ltd.
-
Midea Group Co. Ltd.
-
Voltas
-
Havells India Ltd.
-
Portacool LLC
-
Bajaj Electricals Ltd.
-
Crompton Greaves Consumer Electricals Ltd.
-
Orient Electric
-
Usha International Ltd.
-
Fujian Jinghui Environmental Technology Co., Ltd.
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