Portland, OR, June 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global water cooler market generated $836.5 million in 2019, and is estimated to reach $992.4 million by 2027, registering a CAGR of 3.8% from 2021 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Improvement in the retail structure and rise in the number of public and private institutes drive the growth of the global water cooler market. However, high costs of water coolers hinder the market growth. On the other hand, advent of technology creates new opportunities in the coming years.
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Covid-19 scenario:
- During the initial phase of the coronavirus pandemic, the manufacturing units were completely suspended. In addition, the disrupted supply chain further impacted the market. The market witnessed declined demand for water coolers.
- As the government bodies are easing off the regulations, the industry has restarted its processing. And the market is expected to get a boost post-pandemic.
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The report offers a detailed segmentation of the global water cooler market based on product type, application, distribution channel, and region. Based on product type, the market is categorized into bottled water cooler, bottle-less water cooler, and top-load water cooler. The bottleless water cooler segment contributed to the largest share in 2019, accounting for more than half of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, the segment is expected to register the highest CAGR of 4.6% from 2021 to 2027.
Based on application, the market is bifurcated into residential and commercial. The commercial segment accounted for the largest share in 2019, holding nearly three-fourths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the residential segment is estimated to portray the highest CAGR of 5.7% during the forecast period.
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Based on region, North America contributed the highest share, accounting for around one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 5.1% from 2021 to 2027. The other regions studied in the report include Europe and LAMEA.
Leading market players analyzed in the research include Farberware Cookware, Kenmore, Oasis International, Primo Water Corporation, AB Electrolux, Avalon Water Coolers, Blue Star Limited, Brio Water Technology, Clover Co., Ltd., and Voltas Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.