Global Residential Portable Air Conditioning System Market Overview:
As the name implies, a portable air conditioner is movable, though some work, such as installing the exhaust tube and locating a suitable power point, is required. The majority of designs will include caster wheels to increase the unit's mobility. Unlike window air conditioners or PTACs, which require fixed installation by trained technicians, portable air conditioners can be easily installed by following DIY instructions. The majority of designs will include caster wheels to increase the unit's mobility. Unlike window air conditioners or PTACs, which require fixed installation by trained technicians, portable air conditioners can be easily installed by following the DIY instructions. As of the benefits connected with portable air conditioning systems, such as cost effectiveness, convenience of installation, and mobility from one location to another, they have been gaining substantial appeal among consumers.
Growth Drivers
- Increasing Middle-Class Population In Developing Countries
- Demand Of High-Quality Cooling With Energy Saving Features
Roadblocks
- High Production And Maintenance Costs
- Lack Of Knowledge About The Smart Appliances In Rural Area
Opportunities
- Demand For Affordable Comfort Features
- Increase In Standard Of Living And Rise In Disposable Income
- Increased Adoption Of Automatic Home Appliances
Challenges
- Presence Of Alternative Product At Low Price In Market
- Intense Competition Among Players
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are LG (South Korea), DeLonghi (Italy), Whirlpool (United States), Electrolux (Sweden), Midea (China), OlimpiaSplendid (Italy), Haier (China), Carrier (United States), Blue Star Limited (India) and Symphony (India). Additionally, following companies can also be profiled that are part of our coverage like Havells (India), Voltas (India) and NewAir (United States). Analyst at AMA Research see Indian Vendors to retain maximum share of Global Residential Portable Air Conditioning System market by 2027. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Residential Portable Air Conditioning System market. Considering Market by Capacity, the sub-segment i.e. 5,000 BTUs will boost the Residential Portable Air Conditioning System market.
On 21 May 2021, Midea has now expanded its product portfolio with the unveiling of a portable air-conditioner dubbed Midea CarryCool Portable Air Conditioner.The product is designed for use in the kitchen and is said to have a built-in micro compressor. This portable air conditioner has a cooling capacity of up to 750W. and On 18 February 2022, LG Has expanded its product line-up with the launch of the 2022 range of AI Dual Inverter air conditioners. Powered by AI, the air conditioners come with multiple in-built sensors and dual rotary compressor technology which offers better cooling the new 2022 lineup of the company consists of 57 split ACs and Window inverter ACs
What Can be Explored with the Residential Portable Air Conditioning System Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Residential Portable Air Conditioning System Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Residential Portable Air Conditioning System
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Residential Portable Air Conditioning System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Residential Portable Air Conditioning System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Residential Portable Air Conditioning System Manufacturers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):
1. What is the growth rate predicted for the Global Residential Portable Air Conditioning System Market?The Residential Portable Air Conditioning System market is expected to see a CAGR of
% during projected year 2021 to 2027.
2. Who are the top performing companies in Residential Portable Air Conditioning System Market?
Top performing companies in the Global Residential Portable Air Conditioning System market are LG (South Korea), DeLonghi (Italy), Whirlpool (United States), Electrolux (Sweden), Midea (China), OlimpiaSplendid (Italy), Haier (China), Carrier (United States), Blue Star Limited (India) and Symphony (India), to name a few.
3. What trending factors would impact Residential Portable Air Conditioning System Market growth most?
"Rise In Adoption Of Smart Technology And Growth In The Number Of Smart Homes" is seen as one of major influencing trends for Residential Portable Air Conditioning System Market during projected period 2021-2027.