According to a research report titled ‘Global Portable Air Conditioner Market Size study, by Type (Small Room, Medium Room and Large Room), End-User (Residential and Commercial), Distribution Channel (Supermarket & Hypermarket, Specialty Store, Department Store and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global portable air conditioner market was worth USD 613.6 million in 2019 and is anticipated to grow at a compound annual rate of over 4.5% during 2020-2027, amassing USD 872.6 million valuation by the end of the forecast period.
 

Innovative product launches by companies coupled with steady rise in per capita income are the primary factors stimulating worldwide portable air conditioner industry growth.
 

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For the record, the World Bank claims that global average per capita income rose from USD 11,385.553 in 2018 to USD 11,433.216 in 2019. In addition to this rising trend, widespread penetration of smart home appliances and improving living standards are also boosting the market demand.
 

Elaborating further on the subject, portable air conditioners are air conditioners that can be easily shifted from one room to another. They are light in weight, have low power requirements, and are less noisy as compared to traditional variants.
 

Speaking of the negatives, portable air conditioners have lower lifespan and are not feasible in large halls, offices, rooms, or auditoriums, which is likely to slow down the overall market development.
 

Moving on to the geographical scope, North America, Asia Pacific, Europe, and Latin America are generating significant revenues for global air conditioner market. Speaking of the country-level bifurcation, United States, Canada, China, India, Australia, Japan, South Korea, Germany, United Kingdom, France, Germany, Italy, Spain, Brazil, and Mexico are the major growth avenues for the industry. 
 

Analysts cite that Asia-Pacific market currently accounts for a considerable market share and is projected to record remarkable returns during the forecast period. This can be attributed to increased adoption of electronic devices in households, rising temperatures, and favorable government initiatives in the region. Moreover, factors such as increasing disposable income levels, rapid urbanization, and advancements in manufacturing infrastructure are also propelling industry remuneration in APAC.
 

Key contenders in global portable air conditioner market sphere are NewAir, Whirlpool Corp., Carrier Global Corp., Honeywell International Inc., Haier Group Corp., Olimpia Splendid S.p.A., Midea Group, LG Electronics Inc., Electrolux AB, and De'Longhi S.p.A.