Evaporative cooling market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation- Technavio

NEW YORK, Jan. 11, 2023 /PRNewswire/ -- According to Technavio, the global evaporative cooling market size is estimated to grow by USD 2,010 million from 2022 to 2027. The market is estimated to grow at a CAGR of 7.86% during the forecast period. APAC  will account for 30% of the market's growth during the forecast period.

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Global evaporative cooling market - Five forces
The global evaporative cooling market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Global evaporative cooling market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global evaporative cooling market - Segmentation assessment

Segment overview
Technavio has segmented the market based on type (indirect evaporative cooling, direct evaporative cooling, and two-stage evaporative cooling), application (industrial, confinement farming, residential, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The indirect evaporative cooling segment will grow at the highest rate during the forecast period. The method is appropriate for emergency situations since there is little chance that indoor air will be contaminated by ambient air contaminants because indoor and outdoor air never mix. Additionally, it permits outside air to enter the heat recovery system at a rate that is far higher than the air circulating inside, removing even more cooling from the system. During the projection period, rising indirect evaporative cooling demand would propel segment expansion. As a result, they have an impact on market growth during the prediction period.

Geography overview
By geography, the global evaporative cooling market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global evaporative cooling market.

• APAC will account for 30% of the market's growth during the forecast period. Growing consumer awareness of utilizing eco-friendly and related products, together with increased demand for indoor air cooling equipment, are the primary factors driving the North American market. Additionally, the demand for evaporative air coolers in the area would rise during the forecast period owing to the requirement for home air conditioners and growing electricity prices. Thus, the regional market is expected to grow during the forecast period.

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Global evaporative cooling market – Market dynamics 

Key factor driving market growth

• The growing residential construction activity is notably driving the market growth. 
• During the projection period, evaporative air cooler demand would increase in the US and other countries due to growth in the construction business.
• Due to economic expansion and rising housing costs in different US states, the construction industry in the US is expected to grow throughout the forecast period.
• Furthermore, The growth of the market is expected to accelerate during the forecast period due to the rise in demand from the residential sector.

Leading trends influencing the market 

• Increased adoption of omnichannel distribution and multi-channel marketing is the key trend in the market.
• The expansion of the e-commerce sales channel and the implementation of multi-channel business strategies have boosted the industry.
• Although the online category has a smaller market share, it is expected to be promising and grow more quickly than the offline section.
• Online sales of home appliances are being driven by improved Internet connectivity, the proliferation of mobile Internet devices, and consumer awareness

Major challenges hindering the market growth

• Stringent government standards and regulations are the major challenges impeding the market growth.
• Manufacturers of evaporative coolers are subject to a variety of local government restrictions.
• Sellers must abide by a number of laws and regulations issued by the federal, state, and other governments. These laws cover energy, product descriptions, labeling or packaging, user-related risks or safety concerns, and product life cycle.
• For instance, the European Commission has created rules for product labeling for home appliances in Europe. Energy efficiency ratings and product details must be included for these goods.
• The adoption of these rules would make it challenging for manufacturers to access the potential market, which will restrain the market's growth over the forecast period.

Driver, Trend & Challenges are the factor of market dynamics which states about
consequences & sustainability of the businesses, find some insights from a sample
report!

What are the key data covered in this evaporative cooling market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the evaporative cooling market between 2023 and 2027
• Precise estimation of the size of the evaporative cooling market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the evaporative cooling market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of evaporative cooling market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global evaporative cooling market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global evaporative cooling market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Indirect evaporative cooling - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Indirect evaporative cooling - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Indirect evaporative cooling - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Indirect evaporative cooling - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Indirect evaporative cooling - Year-over-year growth 2022-2027 (%)

• 6.4 Direct evaporative cooling - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Direct evaporative cooling - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Direct evaporative cooling - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Direct evaporative cooling - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Direct evaporative cooling - Year-over-year growth 2022-2027 (%)

• 6.5 Two stage evaporative cooling - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Two stage evaporative cooling - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Two stage evaporative cooling - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Two stage evaporative cooling - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Two stage evaporative cooling - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Type 
• Exhibit 46: Market opportunity by Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 47: Chart on Application - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 49: Chart on Comparison by Application
• Exhibit 50: Data Table on Comparison by Application

• 7.3 Industrial - Market size and forecast 2022-2027
• Exhibit 51: Chart on Industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Industrial - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Industrial - Year-over-year growth 2022-2027 (%)

• 7.4 Confinement farming - Market size and forecast 2022-2027
• Exhibit 55: Chart on Confinement farming - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Confinement farming - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Confinement farming - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Confinement farming - Year-over-year growth 2022-2027 (%)

• 7.5 Residential - Market size and forecast 2022-2027
• Exhibit 59: Chart on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Residential - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Residential - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027
• Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Application 
• Exhibit 67: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027
• Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 India - Market size and forecast 2022-2027
• Exhibit 105: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 109: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Amsted Industries Inc. 
• Exhibit 120: Amsted Industries Inc. - Overview
• Exhibit 121: Amsted Industries Inc. - Product / Service
• Exhibit 122: Amsted Industries Inc. - Key offerings

• 12.4 ATE Private Ltd. 
• Exhibit 123: ATE Private Ltd. - Overview
• Exhibit 124: ATE Private Ltd. - Product / Service
• Exhibit 125: ATE Private Ltd. - Key offerings

• 12.5 CAREL INDUSTRIES Spa 
• Exhibit 126: CAREL INDUSTRIES Spa - Overview
• Exhibit 127: CAREL INDUSTRIES Spa - Business segments
• Exhibit 128: CAREL INDUSTRIES Spa - Key news
• Exhibit 129: CAREL INDUSTRIES Spa - Key offerings
• Exhibit 130: CAREL INDUSTRIES Spa - Segment focus

• 12.6 Celsius Design Ltd. 
• Exhibit 131: Celsius Design Ltd. - Overview
• Exhibit 132: Celsius Design Ltd. - Product / Service
• Exhibit 133: Celsius Design Ltd. - Key offerings

• 12.7 Colt Group Ltd. 
• Exhibit 134: Colt Group Ltd. - Overview
• Exhibit 135: Colt Group Ltd. - Product / Service
• Exhibit 136: Colt Group Ltd. - Key offerings

• 12.8 Condair Group AG 
• Exhibit 137: Condair Group AG - Overview
• Exhibit 138: Condair Group AG - Product / Service
• Exhibit 139: Condair Group AG - Key offerings

• 12.9 Delta Cooling Towers Inc. 
• Exhibit 140: Delta Cooling Towers Inc. - Overview
• Exhibit 141: Delta Cooling Towers Inc. - Product / Service
• Exhibit 142: Delta Cooling Towers Inc. - Key offerings

• 12.10 EcoCooling Ltd. 
• Exhibit 143: EcoCooling Ltd. - Overview
• Exhibit 144: EcoCooling Ltd. - Product / Service
• Exhibit 145: EcoCooling Ltd. - Key offerings

• 12.11 ENEXIO Management GmbH 
• Exhibit 146: ENEXIO Management GmbH - Overview
• Exhibit 147: ENEXIO Management GmbH - Product / Service
• Exhibit 148: ENEXIO Management GmbH - Key offerings

• 12.12 EVAPCO Inc. 
• Exhibit 149: EVAPCO Inc. - Overview
• Exhibit 150: EVAPCO Inc. - Product / Service
• Exhibit 151: EVAPCO Inc. - Key offerings

• 12.13 Honeywell International Inc. 
• Exhibit 152: Honeywell International Inc. - Overview
• Exhibit 153: Honeywell International Inc. - Business segments
• Exhibit 154: Honeywell International Inc. - Key news
• Exhibit 155: Honeywell International Inc. - Key offerings
• Exhibit 156: Honeywell International Inc. - Segment focus

• 12.14 Munters Group AB 
• Exhibit 157: Munters Group AB - Overview
• Exhibit 158: Munters Group AB - Business segments
• Exhibit 159: Munters Group AB - Key offerings
• Exhibit 160: Munters Group AB - Segment focus

• 12.15 SPX Corp. 
• Exhibit 161: SPX Corp. - Overview
• Exhibit 162: SPX Corp. - Business segments
• Exhibit 163: SPX Corp. - Key offerings
• Exhibit 164: SPX Corp. - Segment focus

• 12.16 Symphony Ltd. 
• Exhibit 165: Symphony Ltd. - Overview
• Exhibit 166: Symphony Ltd. - Product / Service
• Exhibit 167: Symphony Ltd. - Key offerings

• 12.17 United Metal Products Inc. 
• Exhibit 168: United Metal Products Inc. - Overview
• Exhibit 169: United Metal Products Inc. - Product / Service
• Exhibit 170: United Metal Products Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 171: Inclusions checklist
• Exhibit 172: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 173: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 174: Research methodology
• Exhibit 175: Validation techniques employed for market sizing
• Exhibit 176: Information sources

• 13.5 List of abbreviations 
• Exhibit 177: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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