Air Handling Unit Market Foresees 7% CAGR from 2016 to 2023

  • Analysis
  • 20-June-2017

The report "Global Air Handling Unit Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” is projected to reach USD 10.94 Billion by 2023, at a CAGR of close to 7% from 2016 to 2023. The market is anticipated to grow continuously due to high growth of the >15,000 m3/h units segment. The market is further driven by residential and commercial construction done in malls, office space and apartments especially in developing countries like China and India which largely boost this market. High capacity air handling units required in developed countries like in US and Russia where tall buildings and large premises are constructed are also expected to drive the market during the predicted period. Also new technological innovation in designs of buildings and increased focus on energy efficiency of building structures have opened up many opportunities for air handling unit manufacturers.

The report segments the industry on the basis of capacity as - < 5000 m3/h, 5000-15000 m3/h and >15,000 m3/h. Among these, the fastest growth is shown by 15,000 m3/h (high capacity air handling units) segment during the forecast period. However, the air handling units that have captured the market during the last year are having the capacity less than 5,000 m3/h. Such small capacity air handling units is demanded in the residential sector like in single family homes. Rapid industrialization, urbanization, growing population, steady economic growth, as well as the need for enhancing energy efficiency in buildings have surged construction of modern building systems, leading to increased deployment of air handling units. So the primary factor which is driving this segment is the tremendous growth of construction needed in the residential sector.
The industry segments the market on the basis of application as residential and non-residential. Among the aforementioned segments, the non-residential segment accounted for the highest market share during 2015. The non-residential users of air handling units are manufacturing and industrial buildings, offices, retail stores and healthcare and educational institutions. However for commercial buildings, indoor air quality regulations have been increased which further spur the growth of the market during the forecast period.
Based on geography, the market is segmented into North America, South America, Europe, Asia– Pacific, Middle East and Africa. The demand is boosted for air handling unit market in the Middle East and Africa region due to the increased construction activities. The factors like strict air quality regulations and growing GDP of European nations like Germany and U.K are expected to have a profound impact on the air handling unit market in that region. Also Asia-Pacific region takes care of all the infrastructural activities and so it is having great potential for air handling unit market growth.
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Some of the companies operating in the global air handling unit market include Carrier Corporation (U.S.), Daikin Industries, Ltd. (Japan), Trane Inc. (Ireland), Johnson Controls, Inc. (U.S.), Systemair AB (Sweden), Flakt Woods Group (Sweden), GEA Group AG (Germany), CIAT Group (France), Trox GmbH (Germany), and Lennox International Inc. (U.S.).
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