According to our latest study on "Evaporative Cooler Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Application," the market is expected to grow from US$ 4,409.39 million in 2022 to US$ 6,492.10 million by 2028; it is anticipated to grow at a CAGR of 6.7% from 2022 to 2028.
Rising Adoption of Evaporative Coolers in Data Centers to Fuel Evaporative Cooler Market Growth During Forecast Period
Earlier, data centers were constructed in cooler environmental regions. However, with the rising need to reduce latency and construct the data center infrastructure closer to the customers, the demand for data centers in Southeast Asian countries is increasing significantly. In Southeast Asia, Singapore is considered a hotbed for global data center construction because of its robust infrastructure, stable internet connectivity, and talented workforce. The rising demand for data centers in the country is pushing them to build a Green Data Centre Technology Roadmap. Through this, the country is taking the initiative for a more sustainable data center industry. This plan covers both physical IT and software, and it will help reduce carbon emissions that are caused due to data centers. The evaporative cooling technologies that can be used by the country are passive cooling, direct liquid cooling, and free cooling.
Moreover, the adoption of liquid cooling systems for data centers is increasing in the US. According to the survey done by Informa Engage in association with Dell Technologies, in 2020, ~37% of respondents already adopted evaporative cooling over conventional computer room air conditioner (CRAC)/computer room air handler (CRAH), an increase of 6% from 2017. In efforts to build a sustainable business, Amazon Web Services has been deploying direct evaporative cooling across several of its data centers during summer times for the past five years. Therefore, the growing adoption of evaporative coolers for data centers globally is fueling the evaporative cooler market growth.
Evaporative cooling is one of the most environmentally friendly cooling techniques. To make it more efficient and reliable, evaporative cooler market players are incorporating these coolers with antimicrobial technologies. They are using materials, such as titanium dioxide, which act as catalysts or photocatalysts to provide antimicrobial activity. Thus, exposing the water to the catalyst and frequent water recirculation can reduce the number of harmful microorganisms to harmless proportions. Other catalysts, such as ZnO, CdS, ZnS, WO3, Fe2O3, and SrTiO3, also provide similar effects and can be used in evaporative coolers. Furthermore, if the evaporative cooler comprises at least one ultraviolet source for irradiating the titanium dioxide, it will increase its photocatalytic effect. This will create excellent antimicrobial activity, thereby boost evaporative cooler market growth.
Various evaporative cooler market players have also developed antibacterial tanks for the healthy flow of air. For instance, Godrej has developed an antibacterial tank that can provide up to 99.94% reduction in bacteria and fungus. Moreover, Filtex Filters, an Australian company, has developed an advanced antibacterial evaporative cooling pad solution, FILCEL. They are pre-treated antibacterial evaporative cooling pads that also provide antibacterial tank treatment. These antibacterial treatments can kill 99% of airborne germs, bacteria, mold, viruses, fungi, and spores. Similarly, Bajaj Coolers have also designed air coolers that are equipped with antibacterial hexacool technology, which can help provide cool and healthy air. The technology helps prevent the accumulation of bacteria on the honeycomb pads, which are mostly affected by wetness. Thus, the incorporation of antimicrobial technology to provide healthy air to customers will further propel the growth of the evaporative cooler market.
The residential segment has dominated the evaporative cooler market during the forecast period. Residential application of air coolers is witnessing high growth rates in several countries such as India and Brazil. Evaporative coolers are cost-effective and energy-efficient alternatives to air conditioners. Therefore, it is the most preferred option for the economically weaker sections residing in hot climatic conditions. The Indian market for residential evaporative air coolers is one of the world's largest and has witnessed high growth in 2021. The growth was strongly driven by electrification in rural areas and the high disposable income of the lower and middle-income groups. Brazil is one of the largest importers of residential evaporative coolers, sourcing products from India, China, and the US. The penetration rate of air conditioners is relatively low in Brazilian residences, aiding the demand for evaporative coolers. Additionally, the residential demand for evaporative coolers witnessed high growth in several developed nations of Western Europe, owing to the heat waves plaguing the region. All these factors have been driving the evaporative cooler market for the residential segment.
Key Findings of Study:
The evaporative cooler market is segmented on the basis of type and application. Based on type, the evaporative cooler market is segmented into direct evaporative cooling, indirect evaporative cooling, and two-stage evaporative cooling. Based on application, the evaporative cooler market analysis covers residential, commercial, industrial, and confinement farming. Based on geography, the global evaporative cooler market analysis includes North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com