The new report by Expert Market Research titled, ‘Global Personal Cooling Device Market Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global personal cooling device market, assessing the personal cooling device market based on its segments like product types, distribution channels, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): About USD 6.4 million
- Forecast CAGR (2023-2028): 2%
- Forecast Market Size (2027): Nearly USD 8.7 million
The global market for personal cooling devices is being driven by the growing dominance of handheld cooling devices. This can be associated with the easy availability of a variety of styles which allow users easy handling, easy operations, and superior cooling. In addition, handheld cooling devices are increasingly adopted by employees working in hot and humid environments to augment comfort and productivity, hence adding to the market.
Moreover, the Asia Pacific region is anticipated to hold a significant share in the market growth of personal cooling devices. This can be ascribed to the increased adoption of personal cooling devices by the people due to the hot and humid weather conditions in the region. Moreover, owing to the strong penetration of leading market manufacturers, the Asia Pacific region is quickly becoming one of the leading providers of personal cooling devices in the worldwide market.
Industry Definition and Segmentation
Personal cooling devices refer to cooling equipment that are energy efficient and cost-friendly. These devices provide comfort to the user without disrupting the ambience of the room.
On the basis of product, the market can be segmented into:
- Personalised Air Conditioner/ Desk Fans
- Handheld Cooling Device
The market, based on distribution channel, can be divided into:
- E-Commerce Websites
- Company Owned Websites
- Speciality Stores
The regional markets for personal cooling devices include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The increasing applications of personal cooling devices in motorcycles are driving market growth. The device pushes the cold and hot air inside the wearable jacket, thus providing the rider with a comfortable ride. In addition, the growing demand for comfort in long rides is further pushing forward the growth of the market.
Further, the deployment of personal cooling devices in automobiles to cool the engine after prolonged periods of operation is also aiding the market growth. The market growth can further be associated with the implementation of stringent vehicle laws, promoting the adoption of personal cooling devices.
Key Market Players
The major players in the market are Honeywell International Inc., O2Cool, Sunbeam Products, Inc., Havells India Ltd., Evapolar Ltd, and AMBIENT THERAPEUTICS INC., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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