Portable Air Conditioner Manufacturers Targeting High Energy Efficiency & Functional Add-ons, Finds FMI

Feb 26,2019 | Retail and Consumer Products

Portable air conditioner sales closed in on around US$ 1 billion in 2018, which are envisaged to witness a sluggish below-3% growth in 2019. According to a new study of Future Market Insights (FMI), more than 80% of the overall sales of portable air conditioner is accounted by residential end users. Commercial use has been estimated to account for a negligible revenue share in the portable air conditioner market.  

Mid-sized Portable Air Conditioner Top Selling

Over 5 in 10 portable air conditioner buyers are observed to prefer medium capacity models, i.e. 11,000-15,000 BTUs. FMI’s analysis suggests that portable air conditioners within this capacity range will continue to experience modest growth in sales over the coming years. On the other side, low capacity and high capacity models of portable air conditioner will reportedly register sluggish rate in terms of revenue. Compact size is cited as the key demand determinant dictating sales growth of mid-capacity models in market.

More than 3/5th of the overall sales of portable air conditioner is contributed by multi-brand stores, and organized retail stores - i.e. supermarkets & hypermarkets. The revenue share of the former will however expand at a relatively higher pace, according to the report.

For More Detailed Insights on Portable Air Conditioner Market

APEJ Strongest Consumer Base Sustaining Portable AC Sales

With a current market value share of over 40%, Asia Pacific has been providing a prime consumer base for portable air conditioner manufacturing brands. North America, the next key market for penetration of portable air conditioner, will however record a falling rate of revenue growth in the years to come. The report attributes APEJ’s lead in market to the availability of a wide size range at economic price point, compact size and mobility, and consistently improving per capita spending of Asian consumers on lifestyle and convenience products. However, it also highlights that relatively higher noise production and lesser energy efficiency of portable air conditioners over conventional counterparts will remain the key pull factor forestalling their rapid demand growth.

The report has profiled some of the leading companies operating in the global portable air conditioner market landscape, including LG Electronics Inc., Panasonic Corporation, Electrolux AB, Friedrich, Haier Group Corporation, and The Whirlpool Corporation among others. As indicated by FMI’s study, leading manufacturers of portable air conditioners have been maintaining strategic focus on development of innovative models that are competitive priced and have innovative functional features. Introduction of portable air conditioner-cum-dehumidifier has been a booster to portable AC sales in the market, recently. Delivering higher energy efficiency with additional features will reportedly be the key developmental strategy trending the competitive landscape of portable air conditioner market.

For exclusive insights on the global portable air conditioner market performance over 2019-2027, write to the analyst at press@futuremarketinsights.com

About Retail & Consumer Products division of FMI

Expert analysis, in-depth insights, and strategic recommendations - the Retail & Consumer Products team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 500+ reports, the team has analyzed the consumer goods industry lucidly in 80+ countries for over a decade. We provide end-to-end research database on retail & consumer products market and consulting services; reach out to explore how we can help.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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