Commercial HVAC Market Size

Commercial HVAC Market Growth Projections and Opportunities

The global market for air handling units (AHUs) is experiencing a substantial surge in demand, driven by several factors, including increasing product requirements within industrial sectors and the imperative for maintaining a clean and secure working environment. Projections indicate that the global air handling units market is poised to exhibit a Compound Annual Growth Rate (CAGR) of 5.37% during the forecast period spanning from 2020 to 2026. In 2019, Asia-Pacific dominated the global air handling units market, claiming a significant share of 38.36%, followed by North America at 28.42%, and Europe at 21.24%.

The segmentation of the global air handling units market encompasses various criteria, including type, effect, capacity, application, and geographical region. Concerning type, the market is classified into packaged rooftop air handling units, modular air handling units, and custom air handling units. Notably, the packaged rooftop air handling units segment is anticipated to witness the highest growth rate throughout the forecast period. In the year 2019, this segment secured a substantial share of 52.26% in the overall global air handling units market.

The segmentation based on effect categorizes air handling units into single and double segments. The single segment is expected to experience a faster growth rate during the forecast period. In 2019, the double segment held a dominant share of 58.15% in the global air handling units market.

Capacity-based segmentation further refines the market into three categories: up to 5000 m3/Hr, 5000 m3/Hr–15000 m3/Hr, and above 15000 m3/Hr. The up to 5000 m3/Hr segment is anticipated to be the fastest-growing during the forecast period. In 2019, this segment commanded a significant share of 45.96% in the overall global air handling units market.

In terms of application, the global air handling units market is segmented into residential, commercial, and industrial categories. Among these, the commercial segment is expected to witness the most rapid growth during the forecast period. In 2019, the commercial segment held a substantial share of 45.93% in the overall global air handling units market.

The burgeoning demand for air handling units in the global market can be attributed to their critical role in maintaining optimal air quality and temperature control across various sectors. Industrial facilities are increasingly recognizing the importance of efficient air handling systems to ensure a conducive working environment and comply with safety standards. Additionally, the commercial sector, encompassing offices, malls, and public spaces, is witnessing a surge in demand for air handling units, driven by the need to provide occupants with a comfortable and healthy atmosphere.

Geographically, Asia-Pacific remains a key player in the air handling units market, reflecting the region's dominance in 2019 and its anticipated continued growth. The rapid industrialization, urbanization, and infrastructural development in countries within the Asia-Pacific region contribute significantly to the demand for air handling units. North America and Europe also play substantial roles in the market, with consistent shares in 2019 and ongoing contributions to the growth and development of the global air handling units market.

The air handling units market is witnessing a robust upward trajectory, driven by factors such as increased industrialization, growing awareness of air quality, and the imperative for efficient environmental control. The market's segmentation based on type, effect, capacity, and application provides a comprehensive understanding of the diverse factors influencing its growth. As the global emphasis on sustainable and healthy working environments intensifies, the demand for advanced air handling units is likely to continue its upward trend, creating ample opportunities for market players and stakeholders.