ID: MRFR/E&P/0456-HCR | February 2021 | Region: Global | 115 pages
Air Handling Units Market size will grow at over USD 10,895.4 Million, 5.58% CAGR during the forecast timeframe.
The air handling unit or the air system is a technology that filters the air. The air handling unit regulates the air quality and temperature indoors. The main operation of the air handling system is to recondition the air. The air handling units contain metallic frames, aluminium and alloy panels. Mostly the air handling units are known as energy-efficient air purifiers. There are multiple ventilators in the air handling system. Further, heating coils, cooling coils, filter chamber, dampers and accentuates are other crucial elements in the unit.
There is a massive demand for air handling units for air ventilating and air conditioning purposes. The three crucial sectors that have a massive demand for air handling units are commercial, industrial and residential. Both the single effect and the double effect segments in the air handling units market receive exceptional demand. Also, the air handling units are available with plenty of capacities. The product adoption rate and market value expected to increase tremendously.
The covid 19 is continuing to affect the global markets with unexpected disruptions. The air handling units market is facing plenty of difficulties. There is a decline in demand for air handling units. The demand from the industrial and commercial sectors has drastically decreased. Also, the slow rate of production is another challenge in the market. The shortage of raw materials is slowing down the production rate. Further, there are supply chain disruptions changing the Market Outlook. The global market is assumed to improve poor the covid 19. The key players of the market are taking measures to increase production. Also, the supply chain disruptions will gradually improve during the forecast period.
The key players of the air handling units market are
The rising industrialization is a crucial driver for the air handling units market. Investments in industrial production are increasing in many regions. This surge in the industries will have a positive impact on the market. Also, the production of the air handling units will escalate in the upcoming years. The investments by the governments in industries will continue to fuel the market growth. Further, the requirement for air handling units in the commercial and industrial sectors is high. It is another driver for the market. The growth of residences and building is increasing the demand for air heating and cooling systems. The global market will receive contestant demand due to these factors.
Further, the increasing number of infrastructure projects is increasing the demand for air handling units. Most of the infrastructures such as buildings, offices and industries require air handling systems. The growth of infrastructure projects is the crucial demand driving factor for the market. Moreover, the need for an energy-efficient air system is another driver for the market. Today, most consumers are including in energy-efficient technology. This customer preference is driving further demand for the air handling units market. All these drivers will have an exceptional impact on the Air Handling Units Industry in the forecast period.
The health benefits and awareness about technology are rising among consumers. Most of the consumer most interest is inclined to products that have environmental and health benefits. The air handling units global market is witnessing high growth in consumer awareness. Most of the consumer is well aware of the need for quality air in building and houses. The rising awareness regarding air quality is fuelling the Air Handling Units Market Growth opportunities. Also, the covid 19 situations are benefitting the market growth trends.
The global lockdowns made individuals stay in their houses. During this period, the awareness about adequate air indoors is rising. These entire factors are further enhancing overall growth opportunities in the upcoming years. Further, the growth rate of respiratory diseases is increasing the demand for the market. Respiratory diseases such as asthma and lung disease will grow more due to air pollution. It will be a major factor that will incline customer interest towards the market in the upcoming years.
The air quality issues are higher in the air handling units market. There are plenty of benefits in the air handling units. The air ventilation, air filtration, air heating and cooling effects are the benefits of this technology. However, the concerns for quality air are high among the consumers. Consumers require an energy-efficient air handling unit that can offer them adequate air reconditioning operations. However, the failure to meet this demand in some regions is the crucial restraint of this market.
There are plenty of low-quality alternatives for air handling units. The lack of standardization and brand awareness are serious market challenges. Due to these difficulties, the consumer is exposed to cheaper and low quality alternatives. The market reputation and the demand get affected due to these factors. Further, the lack of brand awareness in this market can affect the overall expansion rate of the market. The demand can remain stagnant and result in a declining growth rate in the upcoming years. The need for standardization and brand awareness is massive in this market.
The air handling units market is witnessing a steady growth rate in the forecast period. The market has exceptional drivers and few limitations. During the forecast, these factors will have a massive impact on overall demand and profitability. The requirement for energy-efficient air handling units will continuously propel the market growth. Also, the requirement for air-conditioning units and commercial and industrial sectors will father spark the market growth. The need for aid handling units for quality indoor or regulation is a factor that will offer future opportunities for the market. Hoverer, the lack of brand awareness is a significant challenge to the overall market growth. These factors will have a great impact on the overall Market Trends.
Value chain analysis
The air handling units market is dominated by the Asia Pacific region in the forecast period. The Asia Pacific market holds more than one-third of the Market Share. The key contributors in this region are Japan, China, India, Indonesia, and southeast countries. The rising construction activities in this region are propelling the market growth of air handling units. The climatic changes are responsible for the adoption of air handling units in this region. The Asia Pacific region will witness a high demand rate in the forecast period. Also, market expansion and product variation are some of the possible developments in this market.
By Breakup Type
The air handling unit market is highly competitive. The key players of the market play a crucial role in enhancing the market. The market acquisitions and expansion strategies will be implemented in the forecast period.
The air handling units market is fragmented into North America, Asia Pacific, Europe and Middle East Africa. The Asia Pacific market will outgrow the other regional players. Also, the Asia Pacific region receives more demand for air handling units due to surging industrialization. Also, urbanisation is at its peak in this region. All these factors increase the requirement for air handling units. The market will witness the highest revenue rate during the forecast period.
Further, North America is the next largest air handling units market. The investments and production rate of air handling units are higher in this region. Also, the key players are making market expansion measure in this region. The profitability for the air handling units will be higher for this region. Europe is the next crucial regional player for the market. The demand for air units is high due to the high awareness about quality air. The European market has high demand from customers due to the awareness and benefits about the product. All these regional areas will record the highest production rate in the forecast period.
|Market Size||USD 10,895.4 Million|
|CAGR||5.58% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Capacity and Effect|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Systemair (Sweden), TROX (U.S.), GEA Air Treatment (Germany), Daikin (Japan), Johnson Controls (U.S.), Lennox International (U.S.), and Flakt Woods (U.K.). Sabiana (U.K.), and Hitachi Ventus (Japan), Carrier Corporation (UK), Trane Inc. (Ireland), Flakt Woods Group (Sweden), CIAT Group (France), and Swegon (Sweden)|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The air handling units market is poised to mark 5.58% CAGR.
The segments of the air handling units market, by effect, are single effect and double effect.
The segments of the air handling units market, by capacity, are 5000m3/hr - 15000m3/hr, up to 5000m3/hr, and above 15000m3/hr.
The up to 5000m3/hr segment is poised to dominate the market.
The key players are Systemair (Sweden), GEA Air Treatment (Germany), TROX (U.S.), Daikin (Japan), Lennox International (U.S.), CIAT Group (France), Johnson Controls (U.S.), Flakt Woods (U.K.), Hitachi Ventus (Japan), Sabiana (U.K.), Carrier Corporation (UK), Flakt Woods Group (Sweden), Trane Inc. (Ireland), and Swegon (Sweden).