The personal cooling device market is expected to grow from USD 5.1 million in 2016 to USD 6.9 million by 2022, growing at a CAGR of 5.3% between 2016 and 2022 during the forecast period. Personal cooling devices are energy efficient and less expensive which provide comfort to individuals without disturbing the ambience of other occupants in the room. In the ambient air cooling technology, the cold air is blown by the fans or mini-blower. The handheld devices need very less amount of power for running as compared to room ACs. Thus personal cooling device or handheld device serves as a power efficient cooling system. This power savvy nature of handheld devices is dynamically fueling the demand for personal cooling devices in the current scenario. The base year considered for the study is 2015 and the forecast period is between 2016 and 2022.
The handheld cooling device would hold the largest market share during the forecast period
The handheld cooling device is expected to hold the largest share of the personal cooling device market, while the personal air conditioner is expected to grow at a significant rate between 2016 and 2022 in the personal cooling device market. Handheld cooling devices are smaller in size and users can carry them to various locations such as camping, outdoor games, parks, and offices and can be used in activities such as sunbathing. The handheld personal cooling devices are designed in varieties that offer user easy handling with good cooling effect. Some handheld cooling devices are integrated with TEC modules to provide instant cooling effect. The employees working in hot temperatures use handheld cooling devices to minimize heat/cold stress and fatigue, to improve comfort and productivity. Companies such as Ambient Therapeutics Inc. has developed TEC based personal cooling device for relief from joint pains, mosquito bites, and hot flashes.
APAC region to hold the largest share of the personal cooling device market
The APAC region is expected to hold the largest share and dominate the personal cooling device market in the near future because of the wide presence of cooling device manufacturers and suppliers in the APAC region. In the current scenario, APAC is a hub for various electronics device manufacturers. Moreover, the usage of these cooling devices is more due to hot climatic conditions.
The major companies in the personal cooling device market include Honeywell International (U.S.), Havells India Ltd. (India), Ambient Therapeutics Inc. (U.S.), Evapolar Ltd. (Russia), O2Cool LLC (U.S.), and others.
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