Evaporative Cooler Market Size (2024 – 2030)

The Global Evaporative Cooler Market was valued at USD 6.07 Billion in 2023 and is projected to reach a market size of USD 8.77 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 5.4%.   

Swamp coolers, often called evaporative coolers, provide an affordable and environmentally responsible substitute for conventional air conditioning systems. These gadgets chill air by using the evaporation mechanism that occurs naturally; this works especially well in hot, dry conditions. The need for evaporative coolers is expected to expand dramatically as both global temperatures and energy costs rise. The move toward environmentally friendly and energy-efficient cooling options is one of the biggest developments in the evaporative cooler industry. Evaporative coolers employ water to chill air instead of refrigerants, which is more economical and ecologically friendly than typical air conditioning systems, which also require a significant amount of power. This pattern supports international initiatives to mitigate climate change and cut carbon emissions.

Key Market Insights:

Portable evaporative coolers represent 40% of the total market sales. Window-mounted evaporative coolers account for 30% of the market. Direct evaporative coolers make up 60% of the market share. Indirect evaporative coolers account for 25% of market sales.

The market for hybrid evaporative coolers is growing at a rate of 8% per year. Energy savings from using evaporative coolers can reach up to 75% compared to traditional AC units.

The adoption rate of evaporative coolers in the residential sector in the US is 18%. The average lifespan of an evaporative cooler is 15 years.

The installation cost of an evaporative cooler ranges from $500 to $3,500. Annual maintenance costs for evaporative coolers range between $100 and $200.

Water consumption for evaporative coolers ranges from 3.5 to 10.5 gallons per hour.

Evaporative coolers are used in 22% of commercial buildings in hot and dry climates globally. The adoption of smart evaporative coolers is increasing by 5% annually. 60% of new commercial buildings in Australia incorporate evaporative cooling systems.

Industrial applications can achieve air temperature reductions of up to 20 degrees Fahrenheit.

The average cooling capacity of an evaporative cooler is between 2,000 and 15,000 cubic feet per minute (CFM).

The market for solar-powered evaporative coolers is expected to grow by 10% annually over the next decade.

Evaporative Cooler Market Drivers:

One of the primary drivers of the evaporative cooler market is the growing awareness of energy efficiency and sustainability.

Cooling technologies that use less energy and harm the environment are desperately needed as global temperatures increase and energy resources become increasingly scarce. To meet these objectives, evaporative coolers use water as a cooling medium, which uses a lot less power than conventional air conditioning systems. Conventional air conditioners may use a lot of electricity, which puts pressure on power systems and results in expensive energy bills. Evaporative coolers, on the other hand, may save up to 75% on energy use, which makes them a desirable choice for both residential and business customers trying to save expenses associated with energy use. In areas with high electricity costs or unstable power supplies, energy efficiency is especially crucial. Refrigerants, which are known to have a significant potential for global warming, are not used in evaporative coolers. Evaporative coolers lessen the overall carbon footprint of cooling systems and greenhouse gas emissions by doing away with the requirement for these dangerous chemicals. This encourages the development of ecologically friendly technology and is consistent with worldwide efforts to prevent climate change.

Another significant driver of the evaporative cooler market is the rapid urbanization and increase in construction activities worldwide.

According to estimates, 68% of the world's population will live in cities by 2050, suggesting a significant rise in the number of people who will be living in cities over the coming few decades. This urban expansion necessitates the development of infrastructure, including the establishment of public areas, businesses, and housing complexes that require efficient cooling systems. Evaporative coolers offer a cost-effective solution for these new projects, particularly in hot, dry climates. Particularly in emerging nations, the building business is booming. Nations like China, India, and Brazil are making significant investments in the construction of commercial buildings, retail centers, and residential dwellings.

Evaporative Cooler Market Restraints and Challenges:

The poor efficacy of evaporative coolers in humid settings is one of the main issues facing the industry. Air is cooled by evaporation when it passes over water-saturated pads in evaporative coolers. This method works quite well in dry, arid conditions, but it works much less well in humid environments. Because there is already a lot of moisture in the air in humid conditions, the rate of evaporation is slowed down and the cooling impact is lessened. Because of this, evaporative coolers are less effective in cooling interior rooms in humid climates. Since evaporative coolers aren't a practical solution everywhere, this constraint limits the market's potential. Market segmentation based on geographic and climatic variables is necessary for evaporative coolers to be efficient in a variety of climates. Manufacturers and marketers should concentrate on areas like the Middle East, portions of Australia, and the southwest of the United States where evaporative cooling is possible due to the environment. In more humid areas, this geographic constraint may be a serious obstacle to market expansion. The worldwide cooling industry is dominated by traditional air conditioning systems, which are widely used in both the home and commercial sectors. The adoption of evaporative coolers is hindered by the common availability and familiarity with air conditioners, especially in areas where air conditioning is the norm.

Evaporative Cooler Market Opportunities:

The market for evaporative coolers is open to substantial prospects due to technological advancements and product development. Evaporative coolers may become more competitive with traditional air conditioning systems by improving their performance, efficiency, and user experience via advancements in design, materials, and smart technologies. The incorporation of intelligent technology into evaporative coolers presents a substantial opportunity for industry expansion. Evaporative coolers may be made more convenient and appealing by adding features like programmable settings, real-time temperature and humidity monitoring, and remote control via mobile applications. Better energy management is another benefit of smart technology, which enables customers to maximize the effectiveness and financial savings of their cooling systems. The evaporative cooler industry has a lot of room to develop as a result of its expansion into new demographic and geographic regions. There is potential for evaporative cooling to spread to areas and demographics that have not previously utilized these systems as knowledge of its advantages grows. Although evaporative coolers are mostly used in homes, there is also a large demand for them in businesses and industries. Large retail areas, industries, warehouses, and greenhouses may all profit from the economical and energy-efficient cooling that evaporative coolers offer. New income streams may be created by developing products and doing targeted marketing to cater to the unique demands of these industries.

EVAPORATIVE COOLER MARKET REPORT COVERAGE:

Evaporative Cooler Market Segmentation: By Types

• portable evaporative coolers

• window-mounted evaporative coolers

• ducted evaporative coolers

Window-mounted evaporative coolers hold the dominant position in the market due to their higher cooling capacity and energy efficiency. They are preferred in areas where space is a premium and a more permanent cooling solution is needed. These coolers are known for their energy efficiency, making them a preferred choice in regions with high electricity costs. The ability to cool larger spaces effectively gives them an edge over portable units. Their dominance is further reinforced by consumer preference for more robust and efficient cooling systems in residential and small commercial settings.

In recent years, the demand for portable evaporative coolers has surged, making them the fastest-growing sub-type within the market. As more people move into urban areas, the need for affordable and flexible cooling solutions grows. Portable coolers offer a convenient option for renters and those living in small apartments. These units are generally more affordable than window-mounted or ducted systems, making them accessible to a wider range of consumers. The plug-and-play nature of portable coolers appeals to consumers looking for hassle-free cooling solutions. 

Evaporative Cooler Market Segmentation: By Distribution Channel

• Direct Sales

• Online Platforms

• Direct-to-Consumer (DTC) Channels

• Retail stores

In the commercial and industrial sectors, where tailored cooling solutions on a wide scale are needed, direct sales are the norm. Tailored cooling systems are often necessary for businesses and institutions to fulfill unique requirements. A great deal of personalization is possible with direct sales. Manufacturers may be assured of a consistent revenue stream through long-term contracts associated with direct sales channels. Large installations typically require complete support and maintenance packages, which are typically included with direct sales. 

Online marketplaces now play a bigger role in the evaporative cooler distribution chain. Online marketplaces and e-commerce websites provide a simple way for customers to shop, enabling them to peruse a large assortment of goods and complete transactions from the comfort of their homes. The global rise in e-commerce has significantly impacted consumer purchasing behavior, with more people preferring to shop online for convenience and variety. Online platforms offer price comparisons and user reviews, helping consumers make informed decisions.

Evaporative Cooler Market Segmentation: Regional Analysis

• North America

• Europe

• Asia-Pacific

• South America

• The Middle East & Africa

North America holds the largest share of the evaporative cooler market, accounting for approximately 30% of the global market. North America's climate varies significantly across the continent, but many regions, especially the southwestern United States, experience hot and dry conditions ideal for the use of evaporative coolers. States such as California, Arizona, and Texas are key markets due to their arid climates, where evaporative coolers provide an efficient and cost-effective cooling solution. The relatively high disposable income levels in North America enable consumers to invest in efficient and sustainable cooling solutions. This financial capability supports the adoption of evaporative coolers, which, while initially less costly than traditional air conditioning systems, offer long-term savings on energy bills.

Asia-Pacific is the fastest-growing region in the evaporative cooler market, expected to see significant growth in the coming years. Economic growth in Asia-Pacific has led to rising disposable incomes, particularly in emerging economies. As more consumers can afford to invest in home comfort products, the demand for evaporative coolers is on the rise. This increase in purchasing power allows more households and businesses to consider evaporative coolers as a viable option.

COVID-19 Impact Analysis on the Evaporative Cooler Market:

The initial months of the pandemic were marked by widespread lockdowns and travel restrictions. This significantly disrupted global supply chains, causing delays in the production and transportation of evaporative coolers. Manufacturing hubs in Asia, particularly China, a major producer of evaporative cooler components, faced temporary closures and reduced workforce capacity. This led to a shortage of essential parts and a slowdown in the overall production of evaporative coolers. Furthermore, consumer spending habits shifted dramatically as the pandemic unfolded. With job insecurity and economic uncertainty looming large, many individuals opted to postpone non-essential purchases. Evaporative coolers, while offering a cost-effective cooling solution, might not have been a top priority for budget-conscious consumers during this time. Online purchasing is already on the rise, and the epidemic has just made it more popular. Customers are turning more and more to online platforms to buy evaporative coolers while conventional businesses are either closed or running at reduced capacity. Manufacturers and merchants saw this change as a chance to improve their online presence and make investments in e-commerce platforms that are easy to use.

Latest Trends/ Developments:

One of the main factors driving the evaporative cooler industry is environmental sensitivity. Alternatives to standard air conditioners, which employ compressor technology that consumes a lot of energy and contributes to greenhouse gas emissions, are becoming more and more popular among consumers. Conversely, evaporative coolers use natural water evaporation to chill air, which uses a lot less energy and has a smaller environmental impact. This appeals to a rising number of eco-aware customers who are prepared to spend money on sustainable cooling options. The market for evaporative coolers is being revolutionized by the incorporation of smart technologies. Interfaces that are voice-activated or app-based make it simple to schedule, operate, and keep an eye on the cooler remotely. Water flow is adjusted by sensors to avoid oversaturation and provide a pleasant atmosphere. Sensors also track humidity levels.

Key Players:

1. Honeywell International Inc.

2. SPX Corporation

3. Seeley International Pty Ltd.

4. Symphony Limited

5. Fujian Jinghui Environmental Technology Co., Ltd.

6. Luma Comfort

7. Phoenix Manufacturing Inc.

8. Essick Air Products, Inc.

9. Hessaire Products Inc.

10. Airgroup

11. Delta Cooling Towers, Inc.

12. Munters Group AB

13. Celsius Cooling BV

14. Coolair

15. Breez air

16. Climate Technologies Pty Ltd

17. Celair

18. Ram Coolers

19. Eco Cooling Ltd

20. Dongguan Nebula Technology Co., Ltd.