Air Handling Units Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Air Handling Units Market Research Report, Capacity, Effect and Region - Forecast till 2027” the market is projected to be worth USD 14.37 Billion by 2027, registering a CAGR of 5.82% during the forecast period (2021 - 2027), The market was valued at USD 9.1 billion in 2020.
The global air handling units market is witnessing rapid growth. Factors such as the spurring rise in the dampers manufacturing required for air handling units and innovative technology products drive the market, meeting the needs of hundreds of manufacturers, focusing particularly on customer care and energy efficiency. Over the years, the air handling units market growth path has been characterized by continuous investments in human capital and technology.With the rising uses of air handling units in various industrial processes worldwide, the air handling units market value is projected to upend significantly in the years to come.
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Competitive Analysis
List of the Key Companies Profiled in the Air Handling Units Market Research Report are -
- TROX (US)
- Systemair (Sweden)
- GEA Air Treatment (Germany)
- Johnson Controls (US)
- Daikin (Japan)
- Lennox International (US)
- Flakt Woods (UK)
- Hitachi Ventus (Japan)
- Sabiana (UK)
- Carrier Corporation (UK)
- Flakt Woods Group (Sweden)
- Trane Inc. (Ireland)
- Swegon (Sweden)
- CIAT Group (France)
The air handling units market witnesses several strategic partnerships, alongside other strategies such as expansion, mergers & acquisitions, collaboration, and service & technology launches. Major industry players make vast investments in research and development activities and fostering their expansion plans.
For instance, on June 26, 2021, Carel Industries announced the acquisition of Enginia Srl (Italy), a leading manufacturer of dampers and other plastic & metal components required in air handling units. Carel sees the acquisition can increase the supply of complete solutions to manufacturers of air handling units.
Besides, the Enginia acquisition is another important step in Carel's development strategy by external lines and adds another production platform to the thirteen already existing ones, making its offerings even more comprehensive. Moreover, it represents an opportunity for growth in an expanding market as one of the air handling units, joining Recuperator SpA, active in the same segment through the sale of heat exchangers/recovery units.
Innovations and Technological Advances Are Major Driving Forces
The rapidly increasing HVACR (Heating Ventilation Air Conditioning and Refrigeration) process equipment industry worldwide is another growth propeller for the market. Air handling units are also extensively used inside spacecraft to maintain steady temperatures. Moreover, the rising demand for improved reliability in heat exchangers and operations in spacecraft, aeronautics, and oil drilling offers significant market opportunities. In addition, increasing advances in manufacturing technologies push the market growth.
Volatility in Raw Materials' Prices & Demand-Supply Gap Pose Challenges
Volatility in price and the demand-supply gap in raw materials required for production are key factors impeding market growth. Also, the vast investments required for establishing production plants challenge the growth of the market. Nevertheless, rising investments in many regions would support the market growth throughout the assessment period. Also, rising uses of heat exchangers in applications like marine & mining, hydraulics, mobile power plant, power generation, and spas & swimming pools create vast market demand.
Browse In-depth Market Research Report (115 pages) on Air Handling Units
https://www.marketresearchfuture.com/reports/air-handling-units-market-962
COVID-19 Analysis
The air handling units industry suffered unprecedented challenges due to the COVID-19 pandemic. Industry players faced many problems, including obtaining raw materials, attracting workers from quarantines, and delivering end products. Resultantly, the market experienced unexpected outages, whipsaw pricing, and wreaked havoc on the supply chains.
However, the market is speedily returning to normalcy, with the lockdown relaxing in many countries. Besides, various industries, including food & beverages and power generation, are creating significant market demand. Furthermore, increased power demand from commercial & non-commercial sectors, population growth, and economic growth in developing nations are major market trends.
Segments
The market is segmented into effect, capacity, and region. The effect segment is sub-segmented into single effect and double effect. Of these, the double effect segment accounts for the largest air handling units market share owing to its advanced functions such as different volume regulators, temperature reset, demand-based control, less energy consumption, and removal of cooling/heating process.
The capacity segment is sub-segmented into up to 5000m3/hr, 5000m3/hr - 15000m3/hr, and above 15000m3/hr. Of these, Up to 5000m3/hr segment holds the largest air handling units market size due to its increased uses in residential & small premises and increasing commercial buildings. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and rest-of-the-world.
Regional Analysis
The Asia Pacific and Middle East regions lead the global air handling units market, witnessing increasing investments. Factors such as steady economic growth and rapid industrialization in these regions have created high market demand over the past few years. Besides, heavy investments across various industries, such as pharmaceutical, building & construction, hospitals, data centers, and R&D labs, substantiate the region's air handling units market value.
APAC countries, such as China, South Korea, and India, with their vast investments in new smart city ventures and infrastructure growth directly linked to the economy, boost the air handling units market growth in the region. Additionally, government initiatives to foster foreign direct investments to support domestic demand push the market to upend further.
Segmentation of Market covered in the research:
Information by Capacity (Up to 5000 m3/hr, 5000 m3/hr – 10000 m3/hr, 10000m3/hr – 15000 m3/hr, and above 15000 m3/hr), by Effect (Single Effect, and Double Effect) and Region (North America, Europe, Asia-Pacific, and Rest of the World)
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