OREANDA-NEWS. Personal Cooling Device Market by Technology (Ambient Air Cooling), Product Type (Personal Air Conditioner/Desk Fans, and Handheld Cooling Device), and Geography - Global Forecasts to 2022..., Market Research Report: MarketsandMarkets.

The personal cooling device market is expected to reach USD 6.9 Million by 2022, at a CAGR of 5.3% during the forecast period. The major drivers for the personal cooling device market are energy efficiency, individual comfort offering, and portable & user friendly personal cooling devices. 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 cooling device saves more power as compared to room AC, if used for personal cooling. This benefit is fueling the demand for personal cooling devices in the current scenario.

The scope of this report covers the personal cooling device market on the basis of technology, product and geography. In the product segment, personal cooling device market has been segmented into two sub-categories, namely, personal air-conditioner and handheld cooling devices. The handheld cooling devices are expected to hold the largest market share and dominate the market during the forecast period.

The personal cooling device market has been segmented on the basis of geography into four main regions: Americas, Europe, APAC, and RoW. The market for handheld cooling device is expected to grow at the highest CAGR during the forecast period. The Asia-Pacific region comprises countries such as China, Japan, Australia, South-Korea, and India as the major contributors for this market. China is the largest producer and supplier of low-cost personal cooling devices with variety of features. This factor is making market fragmented. China and many Asian countries have a hot climate for most of the months during the year. Also, the continuous increase in global warming is fueling the temperature rise in this region. Thus, there is great opportunity for personal cooling device to increase its market presence in China and adjacent countries.

The HVAC systems are major substitutes for personal cooling devices as these systems provide both cooling and heating for personal comfort. The HVAC systems have more adoptability as compared to personal cooling device. As a result, this would restrain the personal cooling device market. The major companies in the personal cooling device market include Havells India Ltd. (India), Honeywell International (U.S.), O2Cool LLC (U.S.), Ambient Therapeutics (U.S.), Evapolar Ltd. (Russia), and others. These players adopted various strategies such as new product developments, and business expansion to cater to the needs of the market.