As per a report published by the International Energy Agency (IEA), the demand for efficient cooling system is anticipated to grow exponentially by the end of 2030. Increase in demand is attributed to several factors. Few of them are-
- Appropriate temperature at workplace boosts working efficiency of employees. This is generating demand for spot-cooling appliances. Portable air conditioner serves the same purpose. Also, it offers several health benefits. Hence, it is widely adopted in commercial sector.
- Portable air conditioner is widely used in industrial sector. The spot cooling appliance plays vital role in various manufacturing processes.
- Rising demand to reduce power consumption is influencing adoption rate of portable air conditioner in both commercial and residential sectors.
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Demand for portable air conditioner is rising from several sectors. This, in turn, is likely to boost growth of global portable air conditioner market in coming years.
Companies Looking for HCFC Alternatives To Maintain Growth of the Market
Meanwhile, Hydro-chlorofluorocarbons (HCFCs) are used in air conditioning systems for cooling. As per Environmental Protection Agency (EPA), HCFC-22 is an Ozone-depleting substance. To avoid harmful effects of the compound on environment, government bodies in several countries are imposing stringent rules to inhibit release of the compound. This has emerged as one of the major challenges in growth of portable air conditioner market
Hence, manufacturing companies operating in the global portable air conditioner market are investing in research and development activities of alternative cooling compound.
Moreover, to enhance growth of portable air conditioner market, the companies are consistently employing new technologies. Wi-Fi enabled and voice controlled potable air conditioner are some of the recent introductions.
Also, the companies are incorporating several functions. The portable air conditioner can also be used as fans and dehumidifiers. Thus, the device is gaining wide popularity among consumers.
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Some of the key manufacturing companies operating in the global portable air conditioner market are LG electronics Inc., De’Longhi S.p.A, Gree Electric Appliances Inc., Carrier Corporation, The Whirlpool corporation, and Daikin Industries Ltd.