Evaporative coolers are one of the most cost-effective and energy-efficient area cooling solutions. Hence, their adoption at data centers is increasing tremendously. For instance, in September 2021, Huawei launched an Indirect Evaporative Cooling solution at HUAWEI CONNECT 2021. The company developed this next-generation solution to upgrade air handling units (AHU) to environment handling units (EHU), which can further help reduce data center power usage effectiveness (PUE) and embrace carbon neutrality. Moreover, as evaporative coolers are the most viable and economical, their demand in the residential sector is increasing. Various market players are developing advanced evaporative coolers to cater to the rising residential demand.
𝗚𝗿𝗮𝗯 𝘁𝗵𝗲 𝗣𝗗𝗙 𝘁𝗼 𝗸𝗻𝗼𝘄 𝗺𝗼𝗿𝗲: https://www.theinsightpartners.com/reports/evaporative-cooler-market
Evaporative coolers use less energy which makes them a more affordable cooling solution. Also, evaporative coolers consist of fewer parts when compared with air conditioning systems, which include a fan, pump, and water. This lowers the ownership costs of the evaporative cooling systems, making them a more cost-effective solution. According to the Canstar Blue report, the average reverse cycle split system air conditioner costs ~US$ 0.60 per hour, whereas an evaporative cooling system cost around US$ 0.10 per hour and another US$ 0.02 for water. It is also seen that ducted evaporative cooling, which is powered by inverter technology, has an annual running cost of US$ 65. In addition, ducted refrigerated air conditioning, with a 3.5-star energy rating, has annual costs of US$ 150. This price can further rise if the refrigerant ducted system is used for more than one room. Moreover, evaporative coolers only use water and no artificial refrigerants, because of which they do not exhaust the ozone layer. Thus, the evaporative cooler will help save up to 55% on energy costs and ~70 % on running costs compared to the refrigerated air conditioner. In addition, it is also seen that in Europe, due to the Russia-Ukraine conflict, the energy cost has increased tremendously. The people in the region are moving toward more energy-efficient and cost-efficient solutions. This will further create an opportunity for the growth of the evaporative cooler market.
The evaporative cooler market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa, and South America. In 2022, Asia Pacific held the largest market share in 2021, followed by North America and Europe. Also, Asia Pacific is anticipated to register the highest CAGR in the market from 2022 to 2028. The rapid weather and climate change are fueling the growth of the Asia Pacific evaporative cooler market. According to WMO Regional Climate Centers (RCCs) report, in Asia Pacific, 2020 was the warmest year, with a mean temperature of 1.39°C, above the average of 1981–2010. Thus, the rising temperature is increasing the demand for evaporative coolers in the region. In addition, the growing inclination of people toward an eco-friendly cooling solution is further fueling the market growth. Also, the growing construction activities, including the rising number of residential and commercial construction projects across the region, are bolstering the evaporative cooler market growth.