Personal cooling devices are useful for dealing with heat stress, headaches, and heat related irritability among others. Hot weather can prove to be tiresome and due to this families resort to the purchase of expensive and high tonnage air conditioners. Families falling in the low to middle income group resort to the purchase of coolers which are far less effective as compared to air conditioners, but are capable of maintaining a cool temperature. However, with the rising cost of electricity, families find it difficult in maintaining such expensive air conditioners and they are looking for alternative ways to keep themselves cool during summer without having to spend a fortune on electricity to run air conditioners. Due to this factor, consumers are showing increased preference towards personal cooling devices to tackle the heat during summer.
The global personal cooling devices market is marked:
Honeywell International, Havells India Ltd. Evapolar Ltd, Ambient Therapautics, Genexus LLC and Lakeland Ltd. are some of the key players operating in the field of personal cooling devices at present.
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Personal cooling devices offer a broad range of cost-effective products that are easy to operate. Energy efficiency of these products is one of the major factors fuelling the demand for personal cooling devices across the globe. Such products runs mainly on batteries and in some cases, they run on solar energy as well. Adoption of such products would reduce the usage of air conditioners and electrically operated coolers significantly, thus reducing power consumption. High affordability of such products due to their low price is another major factor fuelling the demand for such devices across the globe, especially in regions where the temperature is relatively high during summer. Further, individual comfort offering, mobility and user friendly nature of such products are other key factors pushing the demand for personal cooling devices globally.
However, low market penetration for such products is a major factor barring the growth of the market at present. Majority of the consumers are unaware about the availability of such products, which has shown a negative impact on the growth of the market. Use of HVAC systems as a replacement for personal cooling devices is another major factor restraining the growth of the market. HVAC systems are more adaptable compared to personal cooling devices, thus being a primary preference among the consumers at present.
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