Water Cooler Market Projected to Reach US$ 3.1 Billion by 2033, Growing at a CAGR of 5.5%

The water coolers market was valued at US$ 1.8 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% to reach US$ 3.1 billion by the end of 2033.

The main benefits of a water cooler are its exceptional longevity and reliability for storing water throughout the sweltering summer months. In addition, the market is expected to rise faster as a result of rising consumer awareness of the benefits of utilizing a water cooler and the necessity of drinking clean water for a healthy lifestyle.

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Water coolers are devices that dispense chilled water, but some models also offer the hot water option. Inside water coolers, there is a gaseous refrigerant circulating through the pipes. This refrigerant absorbs heat from the water, resulting in chilled water being provided. Additionally, water coolers can purify water. Moreover, bottled water coolers use refillable water tanks filled with purified water. Increasing usage of water coolers in commercial establishments such as offices, colleges, and the hospitality sector has become a significant factor driving the growth of water cooler companies.

In recent years, there has been a significant rise in public awareness regarding the crucial role of clean water in maintaining good health. This growing awareness has led to increased demand for water coolers as they offer a convenient and reliable source of clean and safe drinking water. Additionally, economic growth observed in emerging countries has contributed to the expansion of the water cooler market, as a rising middle class with improved disposable income is more inclined to invest in such products.

Key Companies Profiled:

• Voltas Ltd.
• Kenmore
• Blue Star Limited
• Avalon Water Coolers
• Clover Co., Ltd.
• Farberware Cookware
• Oasis International
• Avalon Water Coolers
• AB Electrolux

The water cooler industry has witnessed several technological advancements, making water coolers more efficient and effective in treating water. These advancements have not only improved the overall performance of water coolers but have also extended their capabilities, including better water purification and treatment options. Moreover, improvements in the retail structure have made water coolers more accessible to consumers, both in physical stores and through online platforms. This enhanced distribution network has made it easier for customers to purchase water coolers, thus contributing to the market's growth.

Key Takeaways from Market Study

• The global market for water coolers is valued at US$ 1.8 billion in 2023.
• Worldwide demand for water coolers is predicted to rise at a CAGR of 5.5% through 2033.
• By the end of 2033, the global market is anticipated to reach US$ 3.1 billion.
• The market in China is forecasted to expand at a CAGR of 7.5% during the forecast period.
• Sales of bottled water coolers are projected to rise at a CAGR of 5.1% from 2023 to 2033.
• The market in Germany is forecasted to advance at a CAGR of 3% over the forecast period.

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Market Competition

Prominent manufacturers of water coolers hold a significant market share and possess a robust global presence. Additionally, the market includes smaller to medium-sized players, catering to specific water cooler offerings primarily for regional clientele. The influence of these well-established players on the market is substantial, given their extensive distribution networks that reach a broad customer base worldwide. To enhance revenue growth and strengthen their position in the global market, these key players are prioritizing strategic actions like introducing new products, making acquisitions, engaging in collaborations, participating in events, and expanding their operations.

• In April 2020, Waterlogic Holdings Limited announced that it had successfully finalized the acquisition of a significant minority stake in the company by renowned institutional investors: British Columbia Investment Management Corporation (BCI), Neuberger Berman, StepStone, and Skandia. This transaction provided the company with substantial financial resources, empowering it to expedite its global expansion efforts and assume a leadership position in the rapidly growing market for bottleless workplace hydration.

Key Segments of Water Cooler Industry Research:

• By Product Type :
o Bottled
o Bottleless
• By Application :
o Residential
o Commercial
• By Distribution Channel :
o Online
o Offline
• By Region :
o North America
o Latin America
o Europe
o Asia Pacific
o Middle East & Africa

In conclusion, a number of important reasons are driving the water cooler market's continued steady expansion and innovation. Water coolers continue to be in high demand as people prioritize being hydrated and look for quick, easy, and environmentally responsible ways to get access to clean drinking water. A wide variety of goods, which meet different customer preferences and usage scenarios, are available in the market. These products include countertop models, point-of-use (POU) water coolers, and bottled water coolers.

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This release was published on openPR.