Dry air cooler is comparable to an air coolers system. However, a dry air cooler uses a liquid solution, such as water, propylene glycol/water or ethylene glycol/water to transfer heat instead of compressors and refrigerant. Dry air coolers are available in different sizes, technologies, price range, and design. In addition, these are available in a variety of styles and decorative modern designs. These features are expected to increase the demand for dry air coolers during the forecast period.
Rise in construction activities, number of households, and purchasing power of consumers is anticipated to fuel the growth of the dry air coolers market during the forecast period
In addition, extensive industrialization and technological advancements across the world are likely to fuel market growth during the forecast period
However, the current COVID-19 pandemic is impacting different sectors, which includes consumer electronics. The COVID-19 pandemic has brought along numerous changes in market conditions. The rapidly shifting market scenario is expected to hamper the market growth during the forecast period.
Rapid innovation in dry air coolers is projected to accelerate the global dry air coolers market. Manufacturers use advanced technology with smart features. This is anticipated to create huge opportunities for the dry air coolers market.
The global dry air coolers market can be segmented based on type, room capacity, end user, distribution channel, and region
In terms of type, the dry air coolers market can be divided into standalone and fixed
Based on room capacity, the market can be segregated into less than size 100 sqft, size 101 sqft - size 350 sqft, size 351 sqft - size 600 sqft, and more than size 600 sqft
Based on end user, the market can be classified into residential, commercial, and industrial
In terms of distribution channel, the dry air coolers market can be bifurcated into online and offline. The online segment is sub-divided into company-owned website and e-Commerce retailers. The offline segment is further divided into hypermarkets/supermarkets, brand stores, and specialty stores.
In terms of region, the global market can be divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, Italy, and Rest of Europe), Asia Pacific (Japan, India, China, and Rest of Asia Pacific), Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa), and South America (Brazil and Rest of South America)
North America region is expected to contribute a major market share followed by Europe. These two regions record low temperatures compared to other regions. This market in Asia Pacific is projected to grow at a steady rate during the forecast period. This market in South America and Middle East & Africa regions is expected to witness slower growth rate during the forecast period.
Key players operating in the global dry air coolers market include Kenstar, Orient Electric, Honeywell, Europace, Usha International, Keye, Symphony, Khaitan Electricals, De’Longhi Appliances S.r.l, Fujian Jinghui Environmental Technology Co., Ltd., and Luma Comfort, among others
These market players are focused on adoption of business strategies such as mergers & acquisition and geographical expansions. Furthermore, market players are aiming at product development and enhancement to have a competitive advantage over others.