Global Portable Air Conditioners Market Overview
Portable Air Conditioners Market Size was estimated at 2.0 (USD Billion) in 2022. The Portable Air Conditioners Market Industry is expected to grow from 2.1(USD Billion) in 2023 to 3.4 (USD Billion) by 2032. The Portable Air Conditioners Market CAGR (growth rate) is expected to be around 5.48% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Portable Air Conditioners Market Trends Highlighted
The portable air conditioner market around the world has expanded rapidly within a few years owing to several key factors such as the increase in heat levels, the rise of cities and urban centers, and the growth of disposable income in the developing countries. These factors are anticipated to continue driving market expansion in the years to come. Also, the rising acceptance of energy-efficiency appliances and smart gadgets is providing avenues for portable air conditioning units that are equipped with high-tech features and are networked. In addition, the growing trend for comfort and the need for cooling in compact or mobile surroundings are fueling the market growth. Customers being more inclined towards comfort and portability, evolution in the usage of portable air conditioners is expected.
Portable Air Conditioners Market Drivers
Rising Demand for Energy-Efficient Cooling Solutions
The growing awareness of energy conservation and the need to reduce carbon footprint has led to a surge in demand for energy-efficient cooling solutions. Portable air conditioners, with their energy-saving features such as inverter technology and eco-friendly refrigerants, have emerged as a preferred choice for consumers. The increasing adoption of energy-efficient portable air conditioners is expected to drive market growth over the forecast period.
Expansion of the Construction Sector
The direction of the construction industry is highly positive as most of the developing countries are witnessing extensive growth. Therefore, the construction of both residential and commercial buildings has met an increase in the past 10-20 years. A portable air conditioner is vital for new sites, as it provides a convenient and flexible cooling option. Such equipment is very popular in the summer months. The direction of the construction segment will serve as a guarantor for dynamic growth of the Portable Air Conditioners Market Industry in the future.
Technological Advancements and Product Innovation
Technological advancements and product innovation are constantly enhancing the capabilities and features of portable air conditioners. Manufacturers are introducing units with improved cooling efficiency, reduced noise levels, and smart features such as remote control and Wi-Fi connectivity. These innovations are enhancing the user experience and making portable air conditioners more appealing to consumers, thereby contributing to market growth.
Portable Air Conditioners Market Segment Insights
Portable Air Conditioners Market Type Insights
The Portable Air Conditioners Market is segmented by type into window units, wall units, floor units, and central units. Among these, window units held the largest market share in 2023, accounting for over 45% of the revenue. This dominance is attributed to their affordability, ease of installation, and widespread availability. Wall units are expected to witness the fastest growth during the forecast period, owing to their sleek design, space-saving features, and energy efficiency. Window units are typically installed in a window frame and are designed to cool a single room.They are affordable, easy to install, and readily available, making them a popular choice for budget-conscious consumers. Wall units, on the other hand, are mounted on a wall and are designed to cool multiple rooms. They are more expensive than window units but offer a more aesthetically pleasing and energy-efficient solution. Floor units are freestanding units that can be placed anywhere in a room. They are more powerful than window units and wall units and are ideal for cooling large spaces. However, they are also more expensive and require professional installation.Central units are installed outdoors and connected to ductwork that distributes cooled air throughout a building. They are the most expensive type of portable air conditioner but offer the best cooling performance and energy efficiency. The market growth for portable air conditioners is driven by factors such as rising disposable income, increasing urbanization, and growing demand for energy-efficient cooling solutions. The Asia-Pacific region is expected to witness the highest growth during the forecast period, due to the increasing demand for air conditioning in emerging economies such as China and India.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Portable Air Conditioners Market Capacity Insights
The Portable Air Conditioners Market is segmented by capacity into Up to 8,000 BTU, 8,001-12,000 BTU, 12,001-15,000 BTU and 15,001 BTU and above. The Up to 8,000 BTU segment is predicted to lead the market in 2023 and is likely to secure a considerable proportion due to the product’s affordability and best-suited characteristics for smaller spaces in terms of cooling ability. The 8,001-12,000 BTU segment is anticipated to grow at a stable pace due to increased use in cooling larger areas. The 12,001-15,000 BTU segment is forecasted to take hold in regions with hot climatic conditions, and the 15,001 BTU and above segment is expected to serve for industrial and commercial purposes.
Portable Air Conditioners Market Energy Efficiency Insights
The Portable Air Conditioners Market segmentation by Energy Efficiency comprises of ENERGY STAR Certified and Non-ENERGY STAR Certified segments. The ENERGY STAR Certified segment is projected to dominate the market share during the forecast period. In 2023, the revenue from ENERGY STAR Certified segment is anticipated to be around 1.2 (USD Billion) and is projected to reach 1.9 (USD Billion by 2032, growing at a CAGR of 5.6%. The Non-ENERGY STAR Certified segment, on the other hand, is estimated to grow at a CAGR of 4.9% over the same period.The growing adoption of energy-efficient appliances and the increasing awareness about energy consumption are driving the growth of the ENERGY STAR Certified segment. Governments across the globe are implementing stringent regulations to promote the use of energy-efficient appliances, which is further boosting the demand for ENERGY STAR certified portable air conditioners.
Portable Air Conditioners Market Features Insights
Remote Control, Dehumidification Function, Air Purifier Function, and Heating Function are key features influencing the adoption of Portable Air Conditioners. Remote Control allows users to conveniently operate the unit from a distance, enhancing user experience and comfort. In 2023, the remote-control feature segment held a significant market share of around 70%. The Dehumidification Function helps remove excess moisture from the air, creating a more comfortable and healthier indoor environment. This feature is expected to witness robust growth in regions with high humidity levels.As per Portable Air Conditioners Market data, the Dehumidification Function segment is projected to grow at a CAGR of over 6% during the forecast period 2024-2032. The Air Purifier Function removes pollutants and allergens from the air, contributing to improved indoor air quality. This feature is gaining popularity due to growing health concerns among consumers. The Air Purifier Function segment is anticipated to expand at a CAGR of approximately 5.5% over the forecast period. The Heating Function enables Portable Air Conditioners to provide warmth during colder months, extending their usability beyond the summer season.This feature is expected to drive market growth in regions with moderate to cold climates. The Heating Function segment is projected to grow at a CAGR of around 4.5% during the forecast period.
Portable Air Conditioners Market Regional Insights
The regional segmentation of the Portable Air Conditioners Market offers valuable insights into the market's geographical distribution and growth patterns. North America is projected to continue its dominance, holding a significant market share in 2023 and is expected to maintain its lead throughout the forecast period. The region's high adoption of advanced technologies, rising disposable income, and increasing consumer preference for comfort and convenience are key factors driving its growth. Europe is another major market, with a substantial number of countries contributing to its revenue.The rising demand for energy-efficient cooling solutions and government regulations promoting sustainable practices are expected to fuel growth in this region. APAC is poised for rapid expansion, driven by rising urbanization, growing disposable income, and increasing awareness about the benefits of portable air conditioners. South America and MEA are expected to witness steady growth, with increasing demand from residential and commercial sectors.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Portable Air Conditioners Market Key Players And Competitive Insights
Prominent players in Portable Air Conditioners Market industry are majorly focused on advancing their product portfolio, and expanding the geographical presence to gain competitive edge. Leading players in Portable Air Conditioners Market are continually focusing on developing efficient and environment friendly products, considering the increasing need for such demand. Portable Air Conditioners Market is mainly driven by growing disposable income, increasing urbanization, and incessantly rising demand for smart home appliances. A key player in Portable Air Conditioners Market is LG Electronics. The company provides a comprehensive range of portable air conditioners inclusive of advanced portable air conditioners, which supports smart diagnosis, and automatic restart. LG Electronics operates in developed as well as developing countries, and is known for offering innovative product range. The prominent position of the company is attributed to its continuous focus on research and development to stay ahead in terms of technological advancement, and maintain its leadership position in Portable Air Conditioners Market. Another player in Portable Air Conditioners Market is Honeywell. The company provides a full range of portable air conditioners, and its product are robust, efficient, and easy to use. The company has a broad base of customers, and has established strong presence through a well-knitted distribution network around the globe. Honeywell’s strong position in Portable Air Conditioners Market is attributed to its focus on providing high quality, and highly efficient products coupled with excellent customer service.
Key Companies in the Portable Air Conditioners Market Include
- Samsung Electronics
- Mitsubishi Electric
- Midea Group
- Whirlpool Corporation
- LG Electronics
- Daikin Industries
- Toshiba Corporation
- Sharp Corporation
- Gree Electric Appliances
- Electrolux
- Haier
- Haier Biomedical
- Carrier
- TCL
- Hisense Group
Portable Air Conditioners Market Industry Developments
The Portable Air Conditioners Market is expected to reach USD 3.4 billion by 2032, exhibiting a CAGR of 5.48% during the forecast period (2024-2032). Rising demand for energy-efficient and portable cooling solutions, coupled with increasing disposable income and urbanization, is driving market growth. The Asia Pacific region is anticipated to hold a significant market share due to the growing construction industry and hot and humid climate. Key industry developments include the launch of innovative models with features such as smart controls, air purification, and low noise levels. Manufacturers are focusing on sustainability by incorporating eco-friendly refrigerants and energy-saving technologies.
Portable Air Conditioners Market Segmentation Insights
Portable Air Conditioners Market Type Outlook
- Window Units
- Wall Units
- Floor Units
- Central Units
Portable Air Conditioners Market Capacity Outlook
- Up to 8,000 BTU
- 8,001-12,000 BTU
- 12,001-15,000 BTU
- 15,001 BTU and above
Portable Air Conditioners Market Energy Efficiency Outlook
- ENERGY STAR Certified
- Non-ENERGY STAR Certified
Portable Air Conditioners Market Features Outlook
- Remote Control
- Dehumidification Function
- Air Purifier Function
- Heating Function
Portable Air Conditioners Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.0(USD Billion) |
| Market Size 2023 |
2.1(USD Billion) |
| Market Size 2032 |
3.4(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.48% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Samsung Electronics, Mitsubishi Electric, Midea Group, Whirlpool Corporation, LG Electronics, Daikin Industries, Toshiba Corporation, Sharp Corporation, Gree Electric Appliances, Electrolux, Haier, Haier Biomedical, Carrier, TCL, Hisense Group |
| Segments Covered |
Type, Capacity, Energy Efficiency, Features, Regional |
| Key Market Opportunities |
Growing demand in residential sector Advancements in technology leading to energy-efficient models Increasing popularity in developing economies Rising adoption in commercial spaces Expanding ecommerce channels |
| Key Market Dynamics |
Rising energy costs increasing urbanization rapid technological advancements growing demand for efficient cooling solutions |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The portable air conditioners market is expected to reach USD 2.1 billion in 2023 and is projected to grow at a CAGR of 5.48% from 2024 to 2032, reaching a value of USD 3.4 billion by 2032.
The growth of the portable air conditioners market is primarily driven by rising temperatures due to climate change, increasing demand for energy-efficient cooling solutions, and growing urbanization and population density.
North America is expected to hold the largest share of the portable air conditioners market due to the region's large population, hot and humid climate, and increasing disposable income.
Portable air conditioners are primarily used for cooling residential spaces, such as bedrooms, living rooms, and home offices. They are also used in commercial settings, such as small offices, retail stores, and hospitals.
Key competitors in the portable air conditioners market include LG Electronics, Samsung Electronics, Whirlpool Corporation, Haier Group, and Gree Electric Appliances.
Key trends in the portable air conditioners market include the integration of smart features, such as Wi-Fi connectivity and voice control, the development of more energy-efficient models, and the growing popularity of portable air conditioners with built-in air purifiers.
Challenges facing the portable air conditioners market include competition from other cooling solutions, such as central air conditioners and window air conditioners, the high cost of portable air conditioners, and concerns about energy consumption.
The future outlook for the portable air conditioners market is positive due to the increasing demand for energy-efficient cooling solutions, growing urbanization, and rising temperatures due to climate change.
Key factors that will drive the growth of the portable air conditioners market in the coming years include rising disposable income, increasing urbanization, and the growing popularity of portable air conditioners with smart features and built-in air purifiers.
Potential risks that could impact the growth of the portable air conditioners market include economic downturns, competition from other cooling solutions, and the development of more energy-efficient central air conditioners and window air conditioners.
