Global Evaporative Air Coolers Market is valued at approximately USD 6.2 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.8% over the forecast period 2022-2028.
Evaporating Air Cooler refers to a type of air conditioner that works by obtaining evaporation energy to lower the ambient temperature. In regions with hot and dry climates where factors such as efficiency and speed are important, the demand for Evaporative Air Coolers is high, thereby uplifting the market over the forecast period.
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Evaporative Air Coolers are widely used in residential, commercial, and industrial areas. Change towards luxury lifestyle along with enhanced spending power of the consumers, raises the adoption of air coolers which will benefit the evaporative air cooler market. Emissions from air conditioners are also a cause of global warming, consumers are probing eco-friendly alternatives which will further uplift the sales of the evaporative air cooler market. Consumers in the high humid region along with consumers with high purchasing power prefer air conditioners over Evaporative Air Coolers which may likely hinder the market growth. Manufacturers are launching energy-efficient Evaporative Air Coolers which will boost the sale of the market. For instance, in Feb 2018 SPX Technologies Inc. announced the new Marley MD Everest with a wide range of applications to fulfill HVAC demands.
The key regions considered for the Global Evaporative Air Coolers Market study include Asia Pacific, North America, Europe, Latin America and the Rest of the World. China is anticipated to dominate the evaporative air cooler market due to the increased adoption of energy-efficient coolers. Factors such as sustainability, cost, and energy efficiency raised the demand for the evaporative air cooler market in countries like the U.S., Mexico, and the Middle East. The rest of the regions are estimated to witness sustained growth of Evaporative Air Coolers during the forecast period.
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Major market players included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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