Fairfield Market Research, a leading market intelligence firm, forecasts a robust growth trajectory for the global personal cooling devices market, estimating a value of US$ 6.2 billion by 2024, with an expected increase at a 5.9% CAGR between 2024 and 2031. By 2031, the market is projected to reach an impressive US$ 8.6 billion.
Rising Trend in Compact and Wearable Devices to Drive Market Expansion
As businesses increasingly focus on developing compact and wearable personal cooling devices, the market is experiencing a surge in demand. Factors such as improved living standards, technological advancements, and climate change are fueling this growth. Wearable technology is becoming increasingly popular, alongside a growing preference for eco-friendly cooling solutions, driving significant market expansion.
Growing Popularity of Outdoor Activities Spurs Demand for Portable Cooling Devices
The popularity of outdoor activities like hiking, camping, and sports is driving the adoption of portable cooling devices. Consumers seek convenient, individualized cooling solutions, contributing to the market's upward trajectory. Moreover, as disposable incomes rise, particularly in emerging economies like India and China, the consumption of personal cooling devices is expected to soar.
Key Market Factors Impacting Personal Cooling Devices Market
- Compact and Portable Devices Driving Market Growth: The demand for compact and portable personal cooling devices is on the rise, with technological innovations and energy-efficient solutions propelling market expansion.
- Climate Change and Health Concerns: The increasing frequency of heat waves due to climate change is amplifying the demand for personal cooling devices. The World Health Organization's projections of additional heat-related deaths underscore the urgent need for effective cooling solutions.
- Consumer Preferences for Ergonomic Designs: Consumers are increasingly seeking ergonomic designs and personalized comfort systems in personal cooling devices. Ease of operation and cost-effectiveness are additional factors driving market growth.
North American Market Dominance Projected to Continue
The North American market is poised to dominate the global personal cooling devices market, with sales expected to reach US$ 8.8 billion by 2031. Technological advancements in energy-saving technologies and the production of portable devices are driving market growth in the region. The United States, in particular, is forecasted to maintain its market dominance, capturing a significant revenue share by 2031.
Asia Pacific Maintains Leading Position in Personal Cooling Devices Market
With the growing demand for home appliances and the prevalence of hot climates, the Asia Pacific region retains its dominance in the personal cooling devices market. China is expected to emerge as a key player, capturing over half of the market revenue by 2033. The region's flourishing electronics manufacturing sector and the presence of numerous manufacturers are driving market growth.
Online Platforms Propel Market Growth
The market for online sales of personal cooling devices is expected to witness significant growth, fueled by the proliferation of e-commerce platforms and increasing internet access. With the convenience of home delivery and a wide range of product options, online channels are becoming preferred shopping destinations for consumers. Rapid market growth is attributed to the availability of discounts and the accessibility of brands across various channels.
Handheld Cooling Devices Lead Product Demand
Handheld cooling devices are forecasted to continue their growth trajectory, offering consumers an effective cooling solution with ease of handling. These devices, equipped with Thermoelectric Cooler (TEC) modules, provide instant cooling, making them popular among workers in hot environments. Additionally, their affordability and widespread availability contribute to market expansion.
Competitive Analysis
Several companies are actively developing personal cooling devices, with a focus on product innovation and technological advancements. Market leaders are expected to gain significant market share through a diverse product portfolio and effective marketing strategies. Collaboration and innovation are key drivers for maintaining a competitive edge in the market.
Key Companies Profiled:
- Havells India
- O2COOL
- Beijing Huimao Cooling Equipment
- Lakeland
- Evapolar
- Honeywell International
- GeneXus
- Design Go Ltd
- Holmes
- Laird PLC
Personal Cooling Devices Market Outlook by Category
By Product:
- Handheld Cooling Device
- Personal Air Conditioner
By Distribution Channel:
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Table of Contents
1. Executive Summary
- 1.1. Global Personal Cooling Device Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Regional Snapshot, by Value & Volume, 2023
- 1.5. Analyst Recommendations
2. Market Overview
- 2.1. Market Definitions and Segmentations
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.3. Value Chain Analysis
- 2.4. Porter's Five Forces Analysis
- 2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
- 2.6. Impact of Ukraine-Russia Conflict
- 2.7. Economic Overview
- 2.7.1. World Economic Projections
- 2.8. PESTLE Analysis
3. Production Output and Trade Statistics, 2018-2023
- 3.1. Global Demand Response System, Production Output, by Region, 2018 - 2023
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East & Africa
4. Price Trend Analysis, 2018-2023,
- 4.1. Key Highlights
- 4.2. Global Average Price Analysis, by Type, US$ per Unit
- 4.3. Prominent Factors Affecting Demand Response System Prices
- 4.4. Global Average Price Analysis, by Region, US$ per Unit
5. Global Personal Cooling Device Market Outlook, 2018 - 2031
- 5.1. Global Personal Cooling Device Market Outlook, by Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 5.1.1. Key Highlights
- 5.1.1.1. Handheld Cooling Device
- 5.1.1.2. Personal Air Conditioner
- 5.2. Global Personal Cooling Device Market Outlook, by Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 5.2.1. Key Highlights
- 5.2.1.1. Online
- 5.2.1.2. Offline
- 5.3. Global Personal Cooling Device Market Outlook, by Region, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 5.3.1. Key Highlights
- 5.3.1.1. North America
- 5.3.1.2. Europe
- 5.3.1.3. Asia Pacific
- 5.3.1.4. Latin America
- 5.3.1.5. Middle East & Africa
6. North America Personal Cooling Device Market Outlook, 2018 - 2031
- 6.1. North America Personal Cooling Device Market Outlook, by Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 6.1.1. Key Highlights
- 6.1.1.1. Handheld Cooling Device
- 6.1.1.2. Personal Air Conditioner
- 6.2. North America Personal Cooling Device Market Outlook, by Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 6.2.1. Key Highlights
- 6.2.1.1. Online
- 6.2.1.2. Offline
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
- 6.3. North America Personal Cooling Device Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 6.3.1. Key Highlights
- 6.3.1.1. U.S. Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 6.3.1.2. U.S. Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 6.3.1.3. Canada Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 6.3.1.4. Canada Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Personal Cooling Device Market Outlook, 2018 - 2031
- 7.1. Europe Personal Cooling Device Market Outlook, by Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.1.1. Key Highlights
- 7.1.1.1. Handheld Cooling Device
- 7.1.1.2. Personal Air Conditioner
- 7.2. Europe Personal Cooling Device Market Outlook, by Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.2.1. Key Highlights
- 7.2.1.1. Online
- 7.2.1.2. Offline
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
- 7.3. Europe Personal Cooling Device Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1. Key Highlights
- 7.3.1.1. Germany Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.2. Germany Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.3. U.K. Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.4. U.K. Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.5. France Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.6. France Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.7. Italy Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.8. Italy Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.9. Turkey Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.10. Turkey Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.11. Russia Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.12. Russia Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.13. Rest of Europe Personal Cooling Device Market Material, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.1.14. Rest of Europe Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Personal Cooling Device Market Outlook, 2018 - 2031
- 8.1. Asia Pacific Personal Cooling Device Market Outlook, by Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.1.1. Key Highlights
- 8.1.1.1. Handheld Cooling Device
- 8.1.1.2. Personal Air Conditioner
- 8.2. Asia Pacific Personal Cooling Device Market Outlook, by Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.2.1. Key Highlights
- 8.2.1.1. Online
- 8.2.1.2. Offline
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
- 8.3. Asia Pacific Personal Cooling Device Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1. Key Highlights
- 8.3.1.1. China Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.2. China Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.3. Japan Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.4. Japan Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.5. South Korea Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.6. South Korea Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.7. India Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.8. India Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.9. Southeast Asia Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.10. Southeast Asia Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.11. Rest of Asia Pacific Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.1.12. Rest of Asia Pacific Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Personal Cooling Device Market Outlook, 2018 - 2031
- 9.1. Latin America Personal Cooling Device Market Outlook, by Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.1.1. Key Highlights
- 9.1.1.1. Handheld Cooling Device
- 9.1.1.2. Personal Air Conditioner
- 9.2. Latin America Personal Cooling Device Market Outlook, by Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.2.1. Key Highlights
- 9.2.1.1. Online
- 9.2.1.2. Offline
- 9.2.2. BPS Analysis/Market Attractiveness Analysis
- 9.3. Latin America Personal Cooling Device Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.3.1. Key Highlights
- 9.3.1.1. Brazil Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.3.1.2. Brazil Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.3.1.3. Mexico Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.3.1.4. Mexico Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.3.1.5. Argentina Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.3.1.6. Argentina Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.3.1.7. Rest of Latin America Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.3.1.8. Rest of Latin America Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 9.3.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Personal Cooling Device Market Outlook, 2018 - 2031
- 10.1. Middle East & Africa Personal Cooling Device Market Outlook, by Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.1.1. Key Highlights
- 10.1.1.1. Handheld Cooling Device
- 10.1.1.2. Personal Air Conditioner
- 10.2. Middle East & Africa Personal Cooling Device Market Outlook, by Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.2.1. Key Highlights
- 10.2.1.1. Online
- 10.2.1.2. Offline
- 10.2.2. BPS Analysis/Market Attractiveness Analysis
- 10.3. Middle East & Africa Personal Cooling Device Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.1. Key Highlights
- 10.3.1.1. GCC Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.1.2. GCC Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.1.3. South Africa Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.1.4. South Africa Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.1.5. Egypt Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.1.6. Egypt Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.1.7. Nigeria Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.1.8. Nigeria Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.1.9. Rest of Middle East & Africa Personal Cooling Device Market Product, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.1.10. Rest of Middle East & Africa Personal Cooling Device Market Distribution Channel, Value (US$ Bn) & Volume (Units), 2018 - 2031
- 10.3.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
- 11.1. Manufacturer vs Product Heatmap
- 11.2. Company Market Share Analysis, 2023
- 11.3. Competitive Dashboard
- 11.4. Company Profiles
- 11.4.1. Havells India
- 11.4.1.1. Company Overview
- 11.4.1.2. Product Portfolio
- 11.4.1.3. Financial Overview
- 11.4.1.4. Business Strategies and Development
- 11.4.2. O2COOL
- 11.4.2.1. Company Overview
- 11.4.2.2. Product Portfolio
- 11.4.2.3. Financial Overview
- 11.4.2.4. Business Strategies and Development
- 11.4.3. Beijing Huimao Cooling Equipment
- 11.4.3.1. Company Overview
- 11.4.3.2. Product Portfolio
- 11.4.3.3. Financial Overview
- 11.4.3.4. Business Strategies and Development
- 11.4.4. Lakeland
- 11.4.4.1. Company Overview
- 11.4.4.2. Product Portfolio
- 11.4.4.3. Financial Overview
- 11.4.4.4. Business Strategies and Development
- 11.4.5. Evapolar
- 11.4.5.1. Company Overview
- 11.4.5.2. Product Portfolio
- 11.4.5.3. Financial Overview
- 11.4.5.4. Business Strategies and Development
- 11.4.6. Honeywell International
- 11.4.6.1. Company Overview
- 11.4.6.2. Product Portfolio
- 11.4.6.3. Financial Overview
- 11.4.6.4. Business Strategies and Development
- 11.4.7. GeneXus
- 11.4.7.1. Company Overview
- 11.4.7.2. Product Portfolio
- 11.4.7.3. Financial Overview
- 11.4.7.4. Business Strategies and Development
- 11.4.8. Design Go Ltd
- 11.4.8.1. Company Overview
- 11.4.8.2. Product Portfolio
- 11.4.8.3. Financial Overview
- 11.4.8.4. Business Strategies and Development
- 11.4.9. Holmes
- 11.4.9.1. Company Overview
- 11.4.9.2. Product Portfolio
- 11.4.9.3. Financial Overview
- 11.4.9.4. Business Strategies and Development
- 11.4.10. Laird PLC
- 11.4.10.1. Company Overview
- 11.4.10.2. Product Portfolio
- 11.4.10.3. Financial Overview
- 11.4.10.4. Business Strategies and Development
12. Appendix
- 12.1. Research Methodology
- 12.2. Report Assumptions
- 12.3. Acronyms and Abbreviations