Water Cooler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Water Cooler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global water cooler market size reached US$ 2.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.

Water coolers are electronic containers that dispense drinking water at cool or hot temperatures. They operate on the principle of vapor compression refrigeration cycle, which consists of a compressor, condenser, evaporator, and expansion valve. The high-pressure refrigerant flows through a heat exchanger, wherein it is compressed for transforming liquid into gas through absorbing heat to provide cool or hot water. These coolers aid in filtering impurities, thereby maintaining water quality at cost-effective rates. At present, water coolers are commercially available in varying types, such as bottled, countertop, and under sink chillers.

Water Cooler Market Trends:
The increasing requirement for clean and pure water is currently facilitating the widespread adoption of water coolers across various industrial verticals, such as commercial, residential, hospitality, healthcare, and public sectors. This represents the prime factor currently driving the market growth. In line with this, the increasing consumer awareness regarding the benefits of water coolers, such as energy-efficient, portable, minimal maintenance costs, easy usage, and flexible dispensers with hot and cold-water supply technology, is acting as another growth-inducing factor. Moreover, the introduction of multi-purpose and bottle-less water coolers across various organizations and educational institutions since they offer highly certified filtration, purification, and antimicrobial services, are supporting the market growth. They also promote contactless usage for strictly adhering to the coronavirus disease (COVID-19) safety protocols during the nationwide outbreak, which, in turn, is contributing to the market growth. Other factors, including the rising water pollution levels, strategic collaborations between the top players and manufacturers, and extensive research and development (R&D) activities for advancing water coolers are creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global water cooler market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, distribution channel and application.

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 Region:

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. What was the size of the global water cooler market in 2022?
2. What is the expected growth rate of the global water cooler market during 2023-2028?
3. What has been the impact of COVID-19 on the global water cooler market?
4. What are the key factors driving the global water cooler market?
5. What is the breakup of the global water cooler market based on the distribution channel?
6. What is the breakup of the global water cooler market based on the application?
7. What are the key regions in the global water cooler market?
8. Who are the key players/companies in the global water cooler market?