Mexico Air Coolers Market

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Mexico 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: 101 | No. of Tables: 71 | No. of Figures: 36 | Format: PDF | Report Code : N/A

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Market Definition

Mexico Air Coolers Market size was valued at USD 60.5 million in 2023, and is predicted to reach USD 103.7 million by 2030, with a CAGR of 7.4% 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 Urbanization in the Country Fuels Air Coolers Market Growth

Urbanization serves as a significant driver for the growth of the air coolers market in Mexico, with the country experiencing a high rate of urbanization, where 81.6% of the total population resides in urban areas, according to data from the Central Intelligence Agency (CIA) in the US This rapid urbanization, is coupled with a projected annual rate of urbanization change of 1.4% from 2020 to 2025. This growth trend fuels the demand for indoor cooling solutions as urban populations seek ways to combat rising temperatures and maintain comfortable living environments. Mexico boasts the highest rate of urbanization growth in North America.

Moreover, according to the World Bank, the country's nominal GDP reached USD 1.414 trillion, reflecting a 3.06% growth from 2021. As the economy expands, consumer spending power rises, increasing the demand for household appliances, including cooling solutions. With a growing middle class and higher disposable incomes, more consumers can invest in air coolers to enhance their quality of life and cope with the effects of rising temperatures.

Growing Environmental Dynamics Drives the Air Coolers Market Expansion

The expanding environmental concerns in Mexico are fueling growth in the air coolers market. With increasing awareness about environmental issues and the need for sustainable solutions, consumers are turning towards air coolers as an eco-friendly alternative to traditional air conditioning systems. The rise in temperatures and changing climate patterns also contribute to the growing demand for cooling solutions in the region. As a result, manufacturers and suppliers in Mexico are witnessing a surge in demand for air coolers, driven by the evolving environmental dynamics and the shift towards more sustainable cooling options.

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.

Competitive Landscape

The Mexico 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.

Mexico 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

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2023

USD 60.5 Million

Revenue Forecast in 2030

USD 103.7 Million

Growth Rate

CAGR of 7.4% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • The growing urbanization.

  • The growing environmental dynamics.

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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Frequently Asked Questions

According to the report published by the Next Move Consulting, the Mexico Air Coolers market business is expected to hit at USD 103.7 million (USD) by 2030.

The Mexico 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.

The Mexico Air Coolers market share is segmented on the basis of type, size, and application.

The factors contributing to the expansion of the Mexico Air Coolers market are growing urbanization and growing environmental dynamics.

Challenges of air coolers in humid and coastal environments hinders the growth of the air coolers market.

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