North American air coolers market is estimated to grow at a CAGR of 8.0% during the forecast period. Growing residential construction is one of the key factors that is contributing to drive the adoption of air coolers. As per the US Census Bureau, in September 2020, building permits for privately-owned housing units were at a seasonally adjusted annual rate of 1,553,000, which is 5.2% more than the revised August rate of 1,476,000. This rate is 8.1% more than the September 2019 rate of 1,437,000. The increasing residential construction offers an opportunity for the adoption of cooling systems, including air coolers as an efficient and economical way to reduce the temperature in a room.
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Air coolers need low maintenance and offer potential environmental benefits with very low power consumption and no harmful chlorofluorocarbons (CFC) emissions. Modern air cooler models including offered by Honeywell have an ice tray which makes the cooling more efficient during peak summer months. Owing to its significant energy efficiency and ease of installation, air coolers are being significantly used in North American homes, which in turn is primarily driving the market growth.
Scope of the North American Air Coolers Market
Market Coverage
· Market number available for 2019-2026
· Base year- 2019
· Forecast period- 2020-2026
· Segment Covered- By Type and Application
· Countries Covered- US and Canada
· Competitive Landscape- Honeywell International Inc., Havells India Ltd., NewAir, and Symphony Ltd.
Recent Strategic Initiatives in the North American Air Coolers Market
· In July 2020, JMATEK, the manufacturer and licensee of Honeywell evaporative coolers, declared the launch of ZETA, a personal air cooler that is superior across three dimensions, including a bigger tank, further air distance, and stronger airflow. It is compact in size and consumes very little energy. It can run for up to 10 hours owing to the larger tank.
· In June 2020, Blaux Portable AC launched a new mini personal air cooler with rapid cooling benefits. It enables consumers to optimize temperature indoors and compared to most conventional conditioning units and fans, this portable cooler releases moisture to the atmosphere and prevents dry eyes or irritated skin from becoming too hot. It also enables to maintain air purity and humidity and filters out harmful particles through refillable water curtains. It is eco-friendly and will reduce electricity costs of central air-cooling systems or window ACs noise.
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North American Air Coolers Market-Segmentation
By Type
· Tower
· Desert
· Others
By Application
· Residential
· Commercial
North American Air Coolers Market– Segment by Country
· US
· Canada
Company Profiles
· Alfa Laval Corporate AB
· Carrier Corp.
· Essick Air Products, Inc.
· Havells India Ltd.
· Honeywell International Inc.
· LG Electronics
· NewAir
· Phoenix Manufacturing Inc.
· Portacool Evaporative Coolers
· Symphony Ltd.
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