Portable Air Conditioner Market to Garner $945.4 Mn, Globally, by 2027 at 4.5% CAGR: AMR
PORTLAND, Ore., April 19, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled,
"Portable Air Conditioner Market
by Type (Small Room, Medium Room and Large Room), End User (Residential and Commercial), and Distribution Channel (Supermarket & Hypermarket, Specialty Store, Department Store, E-commerce and Others): Global Opportunity Analysis and Industry Forecast 2021-2027". As per the report, the global portable air conditioner industry was pegged at $613.6 million in 2019, and is estimated to reach $945.4 million by 2027, registering a CAGR of 4.5% from 2021 to 2027.
Drivers, restraints, and opportunities
Increase in industrial applications, rise in urbanization and popularity of smart and Wi-Fi-enabled portable air conditioners, and advent of HCFC alternatives drive the growth of the global portable air conditioner market. However, rise in energy consumption and electricity prices and lack of proper electrification hinder the market growth. However, changing lifestyle, growth of the retail sector, and rise in spending on home improvement and interior designing are expected to open lucrative opportunities for the market players.