The global portable air conditioners market is expected to expand at a CAGR of 5.2% during the forecast period from 2021 to 2029. The growth will be majorly driven by the combination of factors including rapid urbanization, increased discretionary household expenditure, and technology advances leading to the introduction of more smart energy efficient variants. Other factors driving adoption of portable air conditioners include benefits offered in terms of mobility, easy/flexible installation, and affordability as compared to other equivalents. On the contrary, portable air conditioning units make more noise than other equivalents like window or split AC units, which limits their adoption, especially among residential consumers.
Rapid Urbanization & Improving Standard of Living to Drive Market Demand in Asia Pacific
Asia Pacific represents the largest portable air conditioners market worldwide in terms of both unit shipments and market value. The region accounted for over 40% of the total market value in 2020 and expected to continue its supremacy, offering healthy growth opportunities for manufacturers during the forecast period from 2021 to 2029. The anticipated growth will be on the back of increasing discretionary income of middle class population, varying environmental conditions, and economic development resulting in infrastructural development across both residential and commercial spaces. China and Japan are by far the two largest portable air conditioner markets in the region and are prime exporters to the African and European markets. In addition, government regulations promoting use of energy efficient solutions will compel manufacturers to develop smart, eco-friendly products, thereby driving the replacement demand during the forecast period from 2021 to 2029. In developed economies such as North America and Europe, the replacement demand will be higher than fresh installations owing to market characteristics and prompt technology adoption.
Some of the leading portable air conditioner manufacturers profiled in the research study include LG Electronics Inc. (South Korea), AMFAH (India), AB Electrolux (Sweden), Whynter LLC (the U.S.), Royal Sovereign International, Inc. (the U.S.), LLYOD, Paradis Hitech Industries Pvt. Ltd. (India), Midea Group (China), and Olimpia Splendid S.p.A (Italy) among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Portable Air Conditioners market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
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Region Segment (2020–2030; US$ Million)
Global Impact of Covid-19 Segment (2020-2021; US$ Million )
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