Rockville, Oct. 05, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Water Cooler Market is anticipated to reach a value of US$ 3.1 billion by 2033, expanding at a CAGR of 5.5% between 2023 and 2033.
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.
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Key Segments of Water Cooler Industry Research Report
| By Product Type | By Application | By Distribution Channel |
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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.
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.
“Rise in the number of public and private organizations, such as offices, educational institutions, and healthcare facilities, has played a pivotal role in driving the growth of the global water cooler market. These establishments recognize the importance of providing clean and readily available water to their employees, students, or visitors, leading to an increased demand for water coolers in such settings,” says a Fact.MR analyst.
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.
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 3.1 Billion |
| Growth Rate (2023-2033) | 5.5% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global water cooler market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on product type (bottled, bottle-less), application (residential, commercial), and distribution channel (online, offline), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
Checkout More Related Studies Published by Fact.MR Research:
Bottled Water Cooler Market: The global bottled cooler market is anticipated to progress at a sluggish CAGR of 3.9% through 2028. Rising consumer demand for hygienic and clean purification systems is likely to bolster growth opportunities in the global market.
Water Purifier Market: The global water purifier market reached US$ 45.10 billion in 2022. Projections for the forecast period (2023 to 2033) indicate a CAGR of 9.3% for the market, resulting in worldwide sales worth US$ 120 billion by 2033.
Bottled Water Market: The global bottled water market reached a valuation of US$ 301.7 Billion, and is likely to register a Y-o-Y growth rate of 5.0% in 2022, closing at US$ 318.29 Billion.
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