Personal Cooling Devices Market to Grow with a CAGR of 5.4% Globally through 2028
Rising impact of
climate change and increasing technological advancements are driving the Global
Personal Cooling Devices Market in the forecast period 2024-2028.
According to
TechSci Research report, “Global Personal Cooling Devices Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Personal Cooling Devices Market stood at USD 5.89 Billion in 2022
and is anticipated to grow with a CAGR of 5.4% in the forecast period,
2024-2028. The Global Personal Cooling Devices Market has experienced
remarkable growth driven by various factors, transforming the way individuals
combat rising temperatures. As climate change leads to more frequent and
intense heatwaves globally, the demand for innovative cooling solutions has
surged. This has given rise to a diverse range of personal cooling devices,
including wearable fans, cooling vests, and portable air conditioners. The
market is characterized by continuous technological advancements, with
manufacturers incorporating features like rechargeable batteries, adjustable
airflow settings, and lightweight designs to enhance user convenience.
Regional factors
also play a crucial role in shaping the market landscape. The Asia-Pacific
region, including countries like China, Japan, and India, has emerged as a
significant contributor to the growth of the personal cooling devices market.
The region's hot and humid climates, coupled with a large population, create
robust demand for cooling solutions. North America and Europe remain key
markets due to climate variability and consumer preferences for comfort. Market
expansion is further fueled by the adoption of personal cooling devices in
outdoor activities, sports, and workplaces, reflecting the broader trend of
integrating these devices into various aspects of daily life.
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"Global Personal Cooling Devices Market”
However, the
Global Personal Cooling Devices Market is not without its challenges. Energy
consumption and sustainability concerns are at the forefront, with consumers
increasingly seeking eco-friendly solutions. Affordability remains a challenge
for a significant portion of the global population, prompting manufacturers to
balance innovation with cost-effectiveness. Design complexities, especially in
creating ergonomic and fashion-forward products, pose additional hurdles.
Regulatory compliance and safety standards are becoming more stringent,
requiring manufacturers to invest in testing and certification processes.
Limited awareness and education about the benefits of personal cooling devices
also hinder market growth, necessitating strategic efforts to inform consumers
and promote responsible use.
Looking at
recent trends, the market has witnessed a surge in the popularity of handheld
cooling devices. Portable fans, misting devices, and other compact solutions
have gained traction due to their convenience, portability, and effectiveness
in providing instant relief from heat. Moreover, there is a notable increase in
demand from the online sales channel. Consumers now prefer the convenience of
exploring and purchasing personal cooling devices online, especially
considering the impact of the COVID-19 pandemic on shopping habits. The online
platform offers a diverse range of products, enabling consumers to make
informed decisions and facilitating contactless transactions.
In conclusion,
the Global Personal Cooling Devices Market is experiencing robust growth fueled
by a combination of climate-related factors, technological innovation, and
evolving consumer preferences. While challenges such as sustainability concerns
and affordability persist, the market continues to adapt, with manufacturers
addressing these issues through innovation and strategic initiatives. As the
demand for personal cooling devices becomes more widespread, the industry is
poised for further advancements, with an increasing focus on smart
technologies, sustainability, customization, and integration into the broader
health and wellness landscape.
The Global Personal
Cooling Devices Market is segmented into product type, distribution channel, regional
distribution, and company.
Based on product
type the market is segmented into Personal Air Conditioners and Handheld
Cooling Devices.
Based on distribution
channel the market is segmented into online and offline.
Based on region
the market is segmented into five regions, North America, Europe, Asia Pacific,
Middle East & Africa, and South America.
Major companies
operating in Global Personal Cooling Devices Market are:
- Honeywell
International Inc.
- Havells
India Limited
- Holmes
Group
- O2cool
LLC
- Evapolar
Ltd
- Ambient
Therapeutics Inc
- Lakeland
Ltd
- Design
Go Ltd
- Handy
Cooler
- Tellurex
Corporation
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“Integration of
smart technologies is a significant trend that is expected to have an impact on
growth over the forecasted period. Rising impact of climate change and
increasing technological advancements will positively impact the Global Personal
Cooling Devices Market. Due to the wide range of products available to meet
specific needs of, as well as the growing popularity of the online sales
channel, the market is growing at impressive rate through projected period,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Personal Cooling Devices Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product
Type (Personal Air Conditioners, Handheld Cooling Devices), By Distribution Channel
(Online, Offline), By Region, By Competition, 2018-2028”, has
evaluated the future growth potential of Global Personal Cooling Devices Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Personal Cooling Devices Market.
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