Air Handling Units Market to Reach USD 19.37 Billion by 2030; Rising Adoption of Central Heating & Cooling Systems to Bolster Growth, says The Brainy Insights
The global air handling units market growth is driven by risen power demand from non-commercial & commercial sectors, population growth, and economic development in developing nations. North America emerged as the largest global air handling units market, with a 46.27% market revenue share in 2022.
Newark, Feb. 15, 2023 (GLOBE NEWSWIRE) — Brainy Insights estimates that the air handling units market will grow the USD 12.02 billion in 2022 and reach USD 19.37 billion by 2030. In just eight years, the increasing demand for energy-efficient HVAC systems from both the residential and commercial sectors, rising adoption of home automation, growing commercialization, and increased disposable income. Also, smart cities’ extensive infrastructural development and construction, especially in emerging economies, is expected to drive market growth. Further, the emergence of a wide array of products suitable for various end-use applications is also expected to propel the market growth over the market growth.
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Key Insight of the Air Handling Units Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest market share in the air handling units market. Key factors favouring the growth of the air handling units market in North America include the increasing investments in commercial construction projects along with growing urbanization. Further, growing replacement and refurbishment demand in developed countries and ever-increasing demand for hybrid powertrain systems in vehicles are expected to drive market growth in this region.
The up to 5,000 m³/hr segment is expected to augment the air handling units market during the forecast period.
The up to 5,000 m³/hr segment held the largest market share in 2022 and is expected to continue during the forecast period owing to its extensively utilized in small premises in the residential sector, specifically single-family houses.
The blow-through segment market size is 6.87 billion in 2022
The blow-through segment is anticipated to dominate the market over the forecast period owing to its applications in various industries. Further, the blow-through air handling units have a fan which blows the air through the cooling coil, mixing box, and filters before it goes to the ducting network.
The modular segment market size is 4.22 billion in 2022
The modular segment is anticipated to dominate the market over the forecast period owing to increasing infrastructure projects. Also, the modular AHUs permit users to select individual elements housed in modules having consistent construction and cross sections.
The commercial segment is anticipated to dominate the market by 42.05% in 2030
The commercial segment is anticipated to dominate the market in the forthcoming years, owing to rapid industrialization and urbanization, along with the increased demand for HVAC systems. The promising growth of the tourism and construction industries is also helping boost the segment’s market growth. Further, by 2030, the industrial segment will likely dominate the market due to the increasing investments in industrial production.
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Driver: The rapidly growing hospitality sector across the globe:
The increase in the need for food and beverages, chemical, pharmaceutical, and oil and gas industries is the driving factor of the market growth. Further, the increasing demand for high-performance air conditioning equipment in commercial buildings, industries, offices, etc., is also helping to propel the market growth. Additionally, the growing demand for air conditioning systems, coupled with the increasing disposable incomes of individuals across the globe, are stimulating market growth.
Restraint: The lack of awareness about the benefits of HVAC systems
The shortage of workforce and raw materials due to the ban on the export and import of items are restraining factors of the market growth. Further, the equipment’s high installation & maintenance costs, along with the inactive development of the air handling units, are anticipated to hamper the market growth over the forecast period. Additionally, the execution of electric HVAC compressors includes heavy-duty electric wiring, which ultimately surges the overall price of the system.
Opportunity: The integration of innovative technologies such as IoT (Internet of Things) and sensors:
Integrating innovative technologies such as IoT (Internet of Things) and sensors is helping to drive market growth. Additionally, IoT aids in collecting storage and data in the cloud to improve the efficiency and operations of the system. Further, the effective increase in usage of air handling units across several application sectors, such as commercial buildings, hospitals, industries, data centres, universities, and server rooms, is expected to drive market growth. Also, the fewer rules about the air handling units industry in the advancing countries and the new product innovation and advancement are expected to provide an opportunity factor for market growth during the forecast period.
Some of the major players operating in the air handling units market are:
• GEA Group
• Johnson Controls
• Flakt Woods
• Ciat Group
• Airedale International
• VTS Group
Key Segments cover in the market:
• Up to 5,000 m³/hr.
• 5,000 m³/hr. to 15,000 m³/hr.
• 15,000 m³/hr. to 30,000 m³/hr.
• 30,000 m³/hr. to 50,000 m³/hr.
• Above 50,000 m³/hr.
By Working Principle:
• Blow Through
• Draw Through
• DX Integrated
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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