Asia-Pacific air coolers market is estimated to grow at a CAGR of 11.2% during the forecast period. Increasing residential construction and significant demand for energy-efficient and cost-effective cooling solutions are some pivotal factors encouraging market growth. As per the National Bureau of Statistics of China, in 2019, the housing construction area of real estate development enterprises in China was 8,938.21 million square meters, which is a rise of 8.7% compared to 2018. Additionally, in 2019, housing sales reached 2.61 lakh units across seven major Indian cities. 

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The increasing housing construction will lead the demand for home appliances, including air coolers that are compact in size and are suitable to cool small- to medium-sized rooms. Room coolers have slightly less capacity water tanks compared to outdoor coolers. Most of the room air coolers consume less energy and operate silently. According to the model, cold water or ice can be added to support efficient cooling. Additionally, air coolers consume up to 10 times less energy compared to ACs and can also work in low voltage areas, which results in significantly lower monthly electricity/power bills. As a result, it is being significantly preferred in residentials in the Asia-Pacific region.

Asia-Pacific air coolers market is segmented based on type and application. Based on type, the market is classified into tower, desert, and others. In 2019, tower air coolers are expected to witness potential share in the market owing to its space-saving features. It is a sleek and slim form of air cooler that is appropriate to place in small areas as it captures small floor space. Based on the application, the market is classified into residential and commercial. In 2019, residential held the largest share in the market owing to the significant availability of the middle-class population and significant demand for low capital cost and energy-saving air coolers in residential space.

Some prominent players in the market include Symphony Ltd., Havells India Ltd., Bajaj Electricals Ltd., LG Electronics, and Orient Electric Ltd. Product launches are regarded as a key strategy adopted by the market players to leverage their market share. For instance, in September 2020, Symphony Ltd. introduced universal packaged air coolers for commercial and industrial applications to raise the local production segment in India, emphasizing design, aesthetics, quality, and performance. It is the world's first universal packaged air cooler that offers a superior level of flexibility during installation. It consumes 90% less electricity compared to AC and is very quick and easy to install.

Research Methodology

The market study of the Asia-Pacific air coolers market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Air Coolers Market Research and Analysis by Type
2. Asia-Pacific Air Coolers Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the Asia-Pacific air coolers market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific air coolers market.
• Insights about market determinants which are stimulating the Asia-Pacific air coolers market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.