Water Cooler Market Size, Share, Industry Demand And Analysis 2022-2027
According to the latest report by IMARC Group, titled “Water Cooler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global water cooler market share. The global water cooler market size reached US$ 2.41 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3.47 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027.
Water coolers are electronic containers attached to a water supply that dispenses warm and cool water. They function on the vapor compression refrigeration cycle, consisting of a condenser, water filter, expansion valve, compressor, and evaporator. The high-pressure refrigerant is passed through a heat exchanger, which is compressed to convert the liquid into gas to provide cool or hot water. They also provide greater cooling capacity, help filter impurities, allow for higher component density, enhance power efficiency, and reduce costs. Nowadays, water coolers are available in varying types, including countertops, under-sink chillers, and bottled variants widely used in offices, colleges, hospitality, industrial and residential sectors.
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Water Cooler Market Trends:
The market is primarily driven by the extensive product applications across healthcare, commercial and public industries. In addition, the rising consumer awareness about the benefits of water coolers, such as portable, minimal maintenance costs, energy-efficient easy usage, and flexible water supply technology, is contributing to the market growth.
Moreover, the sudden outbreak of coronavirus disease (COVID -19) resulted in a shifting consumer preference toward health safety and wellness, representing another major growth-inducing factor. Besides this, the growing inclination toward online purchasing on account of the accessibility to a wide range of products, ease of delivery, and significant discounts are providing a thrust to the market growth.
Furthermore, extensive research and development (R&D) activities for advancement in water coolers and strategic collaborations between key players and manufacturers are creating a positive market outlook.
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Product Type:
- Bottled Water Cooler
- Bottle-less Water Cooler
- Top Load Water Cooler
Breakup by Distribution Channel:
- Offline
- Online
Breakup by Application:
- Commercial
- Residential
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are AB Electrolux, Avalon Water Coolers, Blue Star Limited, Breville Group Limited, Brio Water Technology Inc., Clover Co. Ltd., Honeywell International Inc., Primo Water Corporation, Rockwell Industries Limited, Voltas Limited (Tata Group), Waterlogic Plc and Whirlpool Corporation.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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