The Asia Pacific Portable HVAC Equipment Market would witness market growth of 5.4% CAGR during the forecast period (2022-2028).
The demand for cooling and heating equipment has increased as industrialization has grown, especially in sectors like mining and electricity generation. Numerous commercial organizations and companies have been compelled to install HVAC equipment in their working spaces due to rising energy costs and tight rules that consider environmental standards.
Additionally, the increased need for user-friendly remote access control systems has significantly increased end-user investments in HVAC systems from the commercial, industrial, and residential sectors. The development of sophisticated portable HVAC equipment with a variety of sensors is the result of the expansion in investments.
Compact and lightweight, portable air conditioners that may be simply put in a smaller accessible room area than a regular air conditioner requirement is becoming increasingly popular because of the increasing trend of minimal spaces. In addition, the idea of minimal living spaces is an architectural and social movement that encourages lowering the rate of energy consumption and the amount of equipment needed in the space.
In order to address the urgent needs of the growing middle-class population, it is projected that the need for housing among the growing urban population would enhance construction activity across the residential and commercial infrastructure. This has increased construction activity in nations like Japan, China, and India, which has caused the HVAC industry to grow as a result. Aside from that, the majority of the governments in this region have started projects and programs to promote the use of sophisticated energy-efficient components in new building structures. In the upcoming years, it is projected that this will increase demand for portable HVAC equipment in resorts and hotels. These elements are predicted to propel the growth of the regional portable HVAC equipment market.
The China market dominated the Asia Pacific Portable HVAC Equipment Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $362.1 Million by 2028.The Japan market is estimated to grow a CAGR of 4.8% during (2022 - 2028). Additionally, The India market would experience a CAGR of 6% during (2022 - 2028).
Based on Product Type, the market is segmented into Portable Fans, Portable Air Conditioners and Portable Heaters. Based on End User, the market is segmented into Residential and Commercial. Based on Distribution Channel, the market is segmented into Hypermarkets / Supermarkets, Departmental Stores, Specialty Stores, Online Retail and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Portable HVAC Equipment Market is Projected to reach USD 4.5 Billion by 2028, at a CAGR of 5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LG Electronics (LG Corporation), Panasonic Holdings Corporation, Carrier Global Corporation, Daikin Industries, Ltd., Emerson Electric Co., Hitachi, Ltd., AB Electrolux (Electrolux), Blue Star Limited, Haier Smart Home Co., Ltd. (Haier Group Corporation), and Dyson Limited.
By Product Type
By End User
By Distribution Channel
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