The U.S. & Canada portable air conditioner market size is expected to top nearly US$ 231.2 Mn in 2022 and is projected to reach US$ 319.7 Mn by 2032 at a CAGR of 3.3% from 2017 to 2021.
Through omni-channel retailing, brand owners of portable air conditioners have streamlined their sales channels. With this strategy, the consumer has access to the desired goods through all available channels, including online and offline ones. As a result, consumers may easily acquire portable air conditioners. This strategy has been embraced by many international market leaders in portable air conditioners. This increases the likelihood of large sales by allowing the company to reach customers not just in urban but also in rural locations.
Furthermore, consumers are increasingly adopting e-commerce sites to purchase electronic items including portable air conditioners, as they have the ability to offer a wide range of products with special discounts and prices. In addition, e-commerce websites also help customize the products as per the specific requirements of the customer, even if the product is not available in the market in a particular country. Leading e-commerce sites including, Walmart, Alibaba and Amazon, are offering an extensive range of products from around the world.
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Factors such as easy product accessibility, convenience and ease of shopping irrespective of geographic presence help promote the online channel to purchase products like portable air conditioners which has acted as one of major driving force impacting the market.
Key Takeaways from the U.S. & Canada Portable Air Conditioner Market Study
- The market in US is projected to witness rapid growth and register a CAGR of 3.6% over the forecast period, owing to the rapidly growing population, along with an increase in the number of retail outlets in the country.
- As per the analysis, 5000-10,000 BTU’s segment is expected to hold a noteworthy share of 38.7% in 2021. Because it is used for small and medium-sized rooms, it an economical choice for most people.
- The residential segment is expected to hold a major share of the market. Improved standard of living and rise in the adoption of smart home appliances is anticipated to favour the segmental growth.
- Companies are focusing on manufacturing products that offer special features, including smart controls by Wi-Fi.
“Rising inclination of consumers toward energy-efficient systems and the growing popularity of portable systems are expected to positively impact the portable air conditioner market growth.” says an FMI analyst.
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Impact of COVID-19 on the Market
The spread of the COVID-19 pandemic had a negative impact on portable air conditioner demand in 2020 due to decreased consumer spending. Government authorities across the globe advised people to not use the air conditioner system, as it helps spreading the virus, which further restricted the product adoption. Moreover, due to the increase spread of covid-19, governments imposed stringent lockdown in countries which slowed down the overall economic conditions.
However, the market is expected to rebound in 2022 and grow steadily, aided by changing weather patterns and rising demand from commercial constructions.
Who is winning?
The players operating in the global U.S. & Canada portable air conditioners industry have adopted various developmental strategies to expand their market share, exploit the U.S. & Canada portable air conditioner market opportunities, and increase profitability in the market. Major players present in the U.S. & Canada portable air conditioner market are The Whirlpool Corporation, Midea Group, LG Electronics, Black+Decker Inc., WHYNTER LLC, Frigidaire Company, Samsung Electronics, Haier Group Corporation, Electrolux AB, General Electric Company, Honeywell International Inc., Blue Star Limited, SereneLife Home, LLC, Havells India Ltd. (Lloyd), AMACOOL among others.
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U.S. & Canada Portable Air Conditioner Market by Category
By Product Type, U.S. & Canada Portable Air Conditioner Market is segmented as:
- Standard Portable Air Conditioner
- Smart Portable Air Conditioner
By Capacity, U.S. & Canada Portable Air Conditioner Market is segmented as:
- 5,000-10,000 BTUs
- 11,000-15,000 BTUs
- 16,000-20,000 BTUs
- 20,000 and Above BTUs
By Price Range, U.S. & Canada Portable Air Conditioner Market is segmented as:
- Below US$ 100
- US$ 100-200
- US$ 200-700
- US$ 700 and Above
By End User, U.S. & Canada Portable Air Conditioner Market is segmented as:
- Commercial
- Residential
By Sales Channel, U.S. & Canada Portable Air Conditioner Market is segmented as:
- Wholesalers/Distributors
- Hypermarkets/Supermarkets
- Multi-Brand Stores
- Specialty Stores
- Independent Small Stores
- Online Retailers
- Other Sales Channels
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