The USA & Canada Portable Air Conditioner Market is estimated to top nearly USD 231.2 Million in 2022 and is projected to reach USD 319.7 Million by 2032 at a CAGR of 3.3% from 2017 to 2021.
| Attributes | Details |
|---|---|
| Estimated USA & Canada Portable Air Conditioner Market Size 2022 | USD 231.2 Million |
| Projected USA & Canada Portable Air Conditioner Market Size (2032) | USD 319.7 Million |
| Value CAGR (2022 to 2032) | 3.3% |
| USA & Canada Portable Air Conditioner Market Top Players Share in 2021. | 20% - 25% |
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A rise in consumer income, which leads to higher living standards, has resulted in an increase in demand for portable air conditioners, resulting in the growth of the portable air conditioner market.
Growth in urbanization, which leads to an increase in demand for portable Air conditioners in places such as corporate offices and hypermarkets, is another important factor driving the USA & Canada portable air conditioner market.
Furthermore, consumers' growing preference for convenience and comfort is expected to upkeep demand for portable air conditioners over the forecast period.
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The USA & Canada portable air conditioner market is valued at USD 224.7 Million in 2021 and is expected to reach USD 319.7 Million in 2032, growing at a CAGR of 3.3% from 2022 to 2032.
The market is characterized by intense competition owing to the presence of several well-established global players. Some of the key players in the market are Midea Group, LG Electronics, Black+Decker Inc., Electrolux AB, and Haier Group Corporation among others.
With constant technological advancements, consumers are eager to purchase next-generation portable air conditioners that are multi-functional and simple to use. Manufacturers of portable air conditioners are incorporating advanced technologies such as the Internet of Things and a variety of sensors to automate various machine tasks.
Leading market players are introducing portable air conditioners with advanced settings such as sleep-mode operation, quieter as consumers prefer to buy less noisy air conditioners. Consumers are increasingly interested in lightweight portable air conditioners.
Above all, the most popular trend in the portable air conditioner market is the production of smart portable air conditioners with WiFi. The majority of market players are introducing portable air conditioners that can be controlled remotely and smartly optimize the use of electricity.
Furthermore, the majority of the established manufacturers in the portable air conditioner market have produced voice-controlled portable air conditioners.
These portable air conditioners are compatible with popular voice-activated systems like Amazon Alexa, Apple HomeKit, and Google Assistant.
Market players are incorporating smart business strategies to attract consumers and establish a stronger position in the portable air conditioner market by manufacturing technologically advanced yet energy-efficient portable air conditioners.
Customers are now living in a new period of sustainability, in which values, attitudes, and preferences based on sustainability are driving lifestyle choices and purchasing decisions. Customers are ‘voting with their wallets' all across the world.
With sustainability gaining center stage in the mind of consumers, buyers today are increasingly inclined towards energy-efficient appliances. This trend is seen in the portable air conditioner market as well. Thus, to further gain consumer attention, portable air conditioners are increasingly being marketed as energy-efficient appliances.
North America is predicted to be one of the most attractive markets during the forecast period, according to Future Market Insights. The USA is expected to account for over 78.3% of the market share in North America through 2021.
The growing use of tiny houses is promoting the use of compact, portable air conditioners that can be installed easily in a smaller space than a standard space required for an air conditioner.
The tiny-house concept, moreover, is a social and architectural trend that promotes reducing living space, reducing the energy consumption rate, and smaller and less equipment. Moreover, the demand for affordable homes for individuals who move frequently due to various purposes is further driving the demand for portable air conditioners in the USA market.
The Canada portable air conditioner market is anticipated to witness growth at a CAGR of 2.0% through 2032 owing to customers who are more focused on purchasing products that will not only offer more smart functionality but also add aesthetic appeal to suit individual tastes.
In addition, manufacturers are launching new products that offer additional features like EER, which is used to measure the efficiency of the air conditioner, and UL Safety, which is another marking that the user should see on the unit to ensure that the unit is designed using UL safety requirements and automatic low voltage cut out protection, protecting batteries from over-discharge, coupled with the insertion of rugged and durable exteriors that can withstand extreme weather conditions.
This is a major factor expected to drive the growth of the portable air conditioner market in Canada.
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On the basis of capacity type, the 5000-10,000 BTU segment is expected to dominate the industry and accounts for a notable share of 38.7% in 2021 in the USA & Canada portable air conditioner market.
Portable air conditioners with 5000-10,000 BTUs are relatively small in size, use much less energy, and are also effective. Rising concerns about the depletion of natural energy sources are driving demand for energy-efficient electronic products that serve a purpose while not posing a significant environmental risk.
In terms of end users, the residential segment accounts for a notable share of 68.6% in 2021. As the transportation industry expands, moving an individual and their necessary goods has become much easier.
Customers are more likely to spend money on a portable air conditioner that is designed according to the size of the room and can be easily packaged and transported to new locations.
In terms of sales channels, the multi-brand store's segment accounts for a notable share of 25.2% in 2021 owing to the fact that such platforms offer customers a wide range of products supplied by various manufacturers Furthermore, there are a variety of seasonal offers and discounts available to customers have fueled the growth of multi-brand stores over the years.
The presence of numerous domestic and regional players makes the portable air conditioner market highly fragmented and competitive. Key players are using a variety of marketing strategies, including mergers and acquisitions, expansions, collaborations, and partnerships.
In addition, leading companies have adopted new product development as a strategic approach to increase their market presence among consumers. These strategies have resulted in an increase in the popularity of portable air conditioners.
| Attributes | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America |
| Key Countries Covered | USA and Canada |
| Key Segments Covered | Product Type, Capacity, Price Range, End User, Sales Channel, and Country |
| Key Companies Profiled | 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; Other Players (As Per Request) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The USA & Canada portable air conditioner market reached a valuation of USD 224.1 Million in 2021.
The USA & Canada portable air conditioner market grew at a sluggish 2.3% CAGR between 2017 and 2021.
The increasing popularity of Energy Efficient Appliances along with the growing adoption of smart technologies are some of the key trends in the market.
Leading players operating in the USA & Canada portable air conditioner market are Midea Group, LG Electronics, Black+Decker Inc., Electrolux AB, Haier Group Corporation, and Honeywell International Inc. among others.
The USA market of portable air conditioners is projected to grow at a 3.6% CAGR over the forecast period.
The Canadian market is anticipated to expand at 2.0% CAGR over the forecast period.
| Market Value for 2024 | USD 35.49 billion |
|---|---|
| Market Value for 2034 | USD 61.79 billion |
| Market Forecast CAGR for 2024 to 2034 | 5.7% |
| Expected Base Year Value (2023) | USD 1,171.6 million |
|---|---|
| Anticipated Forecast Value (2033) | USD 1,589.84 million |
| Estimated CAGR (2023 to 2033) | 3.1% |
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USA & Canada Portable Air Conditioner Market
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