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HVAC Air Handling Units Market worth $13.9 Bn by 2028
- Published Date: February 3, 2022
HVAC Air Handling Unit (AHU) Market size is expected to reach USD 13.9 billion by 2028, according to a new research report by Global Market Insights Inc.
Rapid growth in the hospitality sector owing to better amenities along with the rising tourism industry will uplift the HVAC air handling unit industry growth. Rising tourism & hospitality industry despite the impact of economic slowdown is augmenting the market demand. Moreover, the projected GDP growth of leading economies is anticipated to improve consumer spending, which in turn, will create a scope for the overall industry. Due to significant demand across regions, governments are spending heavily on hotels and various projects related to the hospitality sector to mitigate the supply & demand gap.
The recent COVID-19 pandemic has negatively affected business growth led by limited labor force and disruptions in raw material supply. The import of systems & components from around the world was hampered by restrictions on international trade. Furthermore, the shutdown of many industrial units and commercial spaces reduced the demand for such equipment. Nevertheless, the lifting of lockdowns and rapid vaccination policies are firmly fueling the demand for HVAC air handling units.
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Modular AHUs are gaining popularity
Based on type, modular air handling unit market is set to generate USD 3.5 billion revenue by 2028 witnessing 4.5% growth rate owing to their widespread applications, such as heating, cooling, filtering, etc. The modular AHU is popular due to its easy customization with the addition of components, such as fans, blowers, filters, as per specific applications. However, the availability of a wide range of modular products coupled with the development of new products will boost market expansion.
Browse key industry insights spread across 270 pages with 282 market data tables & 23 figures & charts from the report, “HVAC Air Handling Units Market Size By Type (Modular, Custom, Packaged, DX Integrated), By Working Principle (Draw Through, Blow Through), By Capacity (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 Application (Residential, Commercial, Industrial, Healthcare), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2022 - 2028”, in detail along with the table of contents:
Blow-through AHUs will proliferate the overall industry statistics
Blow-through AHUs are predicted to gather about USD 3.9 billion by 2028 on account of turbulence across the coils, blow-through AHUs are used to obtain different temperatures on the overall surface of the coil. They reduce maintenance costs, equipment corrosion, and improve heating ventilation.
5,000 m3/ hr. to 15,000 m3/ hr. will sustain the business growth
The 5,000 m3/ hr. to 15,000 m3/ hr. segment is expected to showcase the highest growth rate of nearly 5.4% till 2028 led by its applications in almost all sectors, from residential to commercial and industrial. Manufacturers develop a wide range of products in this capacity impelled by large-scale usage in the commercial sector. The growing development of new office spaces across the globe along with the construction of several institutions will spur segment demand.
The commercial sector will gain considerable market share
The commercial application is likely to account for USD 4.9 billion by 2028. Shopping, tourism, and hospitality, including airport expansion activities are among the industries poised to see sharp rise in investment.
Europe HVAC air handling unit market is estimated to capture above USD 2.8 billion revenue in 2028. The rising regional population and increasing disposable incomes will be a key driving factor in the HVAC industry. Moreover, increasing infrastructure spending is supporting the regional industry. In addition, the growing number of infrastructure development projects and rising tourism activities across the region are positively impacting the market.
Energy-efficient and cost-effective products will create consumer attention
The industry is highly competitive and key companies are investing to strengthen their positioning to gain competitive advantages. Key market players are Johnson Controls, Inc., Daikin Industries Ltd., Carrier Corp., Trane Technologies, Trox GmbH, GEA Group AG, Lennox International, CIAT Group, and Blue Star Ltd.