Market Size of Personal Cooling Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Personal Cooling Devices Market Analysis
The personal cooling device market is expected to witness a CAGR of over 5.2% during the forecast period.
- The demand for personal cooling devices has been continually increasing due to an increase in temperature as an effect of global warming. According to data realized by the World Health Organisation, heat stress due to climate change is expected to result in 38,000 extra deaths a year across the world between 2030 and 2050. It is expected to lead to an increase in the use of user-friendly and energy-saving cooling devices.
- The workers functioning in hot temperatures are expected to increasingly use handheld cooling devices to minimize heat/ cold stress and fatigue that affects both comfort and productivity. Hence, handheld cooling devices are expected to be among the fastest-growing product in the market studied. Moreover, they are integrated with TEC (Thermoelectric Cooler) modules, enabling them to provide an instant cooling effect.
- As with any trendy consumer demand, the prevalence of personal air conditioners brings various types and sizes to choose from that offer portability combined with a compelling chilled airflow for maximum customary comfort. Unfortunately, there can be a wide range of optimal portable AC features and functions to consider worthy of purchasing and using daily to beat the sweltering heat.
- However, the extensive usage of HVAC systems is acting as a replacement for personal cooling devices, thereby limiting the market's growth under consideration. HVAC systems in many working setups are cheaper, given the number of employees they can cater to in one go. But for personal use, personal cooling devices are economical, due to which the market is anticipated to witness demand over the forecast period.
- Moreover, with most end-user industries, like construction and mining, heavily impacted by the outbreak of COVID-19, especially during the initial months, the demand for personal cooling devices was adversely affected. However, with many pandemic-related restrictions easing up, the market is expected to witness renewed growth in the coming years.
