Air Duct Market size worth over $5.5bn by 2025
Published Date: October 11, 2019 Authors: Kiran Pulidindi, Soumalya Chakraborty
Air Duct Market demand will likely surpass USD 5.5 billion by 2025; according to a new research report by Global Market Insights, Inc.
Rising awareness regarding energy conservation and maintenance of indoor temperatures in buildings are making the deployment of air ducts with effective shapes mandatory across the globe. Increasing focus of developing nations towards green infrastructure to curb various environmental problems will escalate the product utilization rate. ASEAN along with Asian Development Bank (ADB) have launched a facility through which around USD 1 billion is invested in development of green infrastructure. This will certainly give boost to utilization of product in various commercial spaces.
Growing investment in public transport to drive air duct market growth
Increasing population and urbanization has resulted in the deployment of better infrastructure and transportation services and adoption of rapid transit network is one of them. Asia and Europe together hold three fourth of the total rapid transit across the globe, they have 16,938 kilometers of rapid transit. Ducts are used to provide proper ventilation and cold/hot air circulation in stations, underground subways, etc. coming from installed HVAC systems. These aforementioned factors will give positive push to the product application in the rapid transit infrastructures.
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Increasing popularity of ductless equipment across the globe
Rising popularity of ductless equipment majorly in the residential sector will negatively impact the growth rate of the product in near future. This is due to the high cost associated with duct installation which is not financially viable for the residential house owners. Improving spending capacity has also resulted in purchase of ductless equipment. Such factors will negatively impact the growth in product applications.
Browse key industry insights spread across 210 pages with 331 market data tables & 24 figures & charts from the report, “Air Duct Market Size By Material (Galvanized Steel, Aluminum, Fiberglass, Polymers), By Shape (Rectangular, Round, Oval), By Application (Office Spaces, Airport & Rapid transit, Retail stores & shopping complexes, Hospitality, Multiplex/Auditorium, Hospitals, Manufacturing), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
Galvanized steel ducts display decent annual growth rate of around 3% from 2019 to 2025, this is owing to ability of the material to be easily converted into various shapes such as rectangular, oval and round. Product made from this material are highly durable as these do not corrode, puncture and tear easily. Besides this product made from this material are not easy to insulate and are not flexible making difficult for application where complex ductwork is required.
Round shape of air ducts is majorly utilized across the globe and this segment is expected to be worth close to USD 3 billion by the end of forecast timeframe. This is owing to various advantages of product such as low pressure drops and material utilization for manufacturing. Ducts with such shapes are also easier to clean and will not leak at joints as rectangular one. These factors together contribute towards high growth of product.
Office space air duct market application segment is likely to generate the revenue of over USD 2 billion in 2025. This is due to rising investment in service sectors, as with improving education facilities in developing nations skilled workforce at a comparatively low cost are available. Many conglomerates are investing and outsourcing their backend operations in such countries which has given rise to construction of offices. The product is utilized to provide comfortable environment to the employees in offices. These factors will drive the product market growth over forecast timeframe.
Europe will be the second largest consumer over the forecast span
Europe will hold over 22% volume share by 2025, owing to high demand for various ventilation, centralized heating and cooling systems in the region. High standard of living is the major factor driving the growth rate of market as thermal comfort is priority for people in Europe, as some countries experience extreme cold weather across the year while some witness hot weather or summers. The product is thus utilized in various sectors such as multiplexes/auditoriums, airports/rapid transit infrastructures, hospitals, etc.
Market is highly fragmented based on the local demand
Some participants in air duct market share include Hennemuth Metal Fabricators, Set Duct Manufacturing, Zinger Sheet Metal Co., D&N Duct, Hamlin Companies, Sisneros Bros. Mfg., M&M Manufacturing, Linx Industries, Inc., Masterduct, Inc., Tin Man Sheet Metal, VK Ducting, Pinnacle, ZECO Aircon Ltd., Turnkey Duct, Ducts, Inc., etc.