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(IT-NEWSWIRE.COM, June 01, 2017 ) According to MarketsandMarkets report "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", the total market is expected to reach USD 6.9 Million by 2022, at a CAGR of 5.3% between 2016 and 2022. The major factors driving the growth of personal cooling device market are energy efficiency of this technology, individual comfort system, and ergonomic designs.
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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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MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
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sales@marketsandmarkets.com
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