Global Portable Air Conditioners Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Surge in Disposable Income and Standard of Living and Rise in Spending on Household Comfort

The Global Portable Air Conditioner Market is estimated to be USD 714.59 Mn in 2023 and is expected to reach USD 984.12 Mn by 2028 growing at a CAGR of 6.61%.

A portable air conditioner is a type of air conditioner that is easily moved from one room to another. It is designed to be compact and portable and typically consists of a fan, a cooling coil, and a control panel. Portable air conditioners can be placed on the floor, on top of a window, or a wall. They are designed to be an affordable and energy-efficient alternative to traditional air conditioners. They are often used in apartments, homes, and offices that do not have a centralized air conditioning system.

The increasing demand for energy-efficient and environmentally friendly products has boosted market growth. Consumers and businesses are becoming more conscious of energy consumption and its environmental impact. Portable air conditioners designed to be energy-efficient and use environmentally friendly refrigerants are in high demand. These units provide effective cooling while reducing energy consumption and minimizing greenhouse gas emissions.

However, the increase in electricity prices hinders the market growth. Like any cooling system, these portable air conditioners consume electricity to operate. The increasing use of air conditioners, including portable units, can strain energy resources and lead to higher electricity bills for consumers and businesses.

With technological advancements, portable air conditioners are now equipped with smart features and controlled remotely through smartphone apps or voice commands. These smart and Wi-Fi-enabled units offer convenience and allow users to monitor and adjust the cooling settings from anywhere. The increasing demand for smart home devices presents a significant opportunity for manufacturers in the portable air conditioner market.

• Further, the lack of proper electrification in some regions challenges the market. Portable air conditioners require a reliable electricity supply to operate effectively. However, using portable air conditioners may be challenging in areas with limited access to electricity or unreliable power infrastructure. The lack of proper electrification hinders the adoption and usage of portable air conditioners, particularly in rural or remote areas with inadequate electrical infrastructure development.

Market Segmentations

• The Global Portable Air Conditioners Market is segmented based on Type, Capacity, End-Users, and Geography.
• By Type, the market is classified into Small rooms, Medium Rooms, and Large Rooms. The medium Room segment holds the largest market share. The size of the room considered for the room is 350 sq. ft. to 700 sq. ft. Generally, in metropolitan cities, hall, bedroom, kitchen, and study rooms with such dimensions, where medium room portable AC can be used. The British thermal Unit (BTU) required for the medium room is 9000 to 18000. It refers to the amount of energy that's required to increase the temperature of a pound of water by 1°F.
• Furthermore, it is also a suitable choice for small offices and independent shops. It is an economical choice for most people as it is used for small and medium-sized rooms. A rise in advancement and innovations in the portable AC is anticipated to propel the growth of the portable AC market during the forecast period. For instance, portable air conditioners with Wi-Fi connectivity, electronic control, and voice control are gaining significant popularity among customers.
• By Capacity, the market is classified into 5,000-10,000 BTUs, 11,000-15,000 BTUs, 16,000-20,000 BTUs, and 20,000 and above BTUs. The 5,000-10,000 BTUs capacity range has significant growth in the market. This versatile range caters to various room sizes, including small to medium-sized rooms. This capacity range balances cooling efficiency and flexibility, making it popular among consumers.
• By End-Users, the market is classified into Residential and Commercial. The Residential segment holds the highest CAGR in the market. This is due to the rise in the adoption of smart home appliances to get comfort and improve the standard of living, which is anticipated to favor the growth of the portable AC market during the forecast period.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific. The Americas region has the largest market share. The region experiences diverse climates, ranging from hot and humid to arid environments, creating a demand for portable cooling solutions. Additionally, the American residential sector is substantial, with many houses and apartments that may require portable air conditioners for localized cooling.

Recent Development

• LG Electronics Launches 2023 Whisen Mobile Air Conditioner for Small Windows. - April 2023
• RZ Industries launches a first-of-its-kind portable air filtration system. - March 2023
• Company Profiles
• The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Haier lnc., Honeywell International Inc., LG Electronics Inc., Midea Group, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Portable Air Conditioners Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Portable Air Conditioners Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Portable Air Conditioners Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market