LONDON--(BUSINESS WIRE)--The global air handling units market is expected to grow at a CAGR of more than 5% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global air handling units (AHU) market for 2017-2021. The market is segmented by end-user, including non-residential and residential, with the non-residential sector accounting for the maximum shares of the market during 2016.
The global AHU market is mainly driven by the rise in the construction sector in non-residential and residential buildings. Residential buildings, data centers, hotels, office spaces, shopping centers, and hospitals require proper HVAC systems to maintain temperature, thus increasing the demand for HVAC systems. As a result, the increase in demand for HVAC systems in buildings will drive the demand for AHU systems.
Technavio’s heavy industry research analysts categorize the global air handling units market into the following segments by regions:
- APAC
- EMEA
- Americas
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APAC: largest air handling units market
“APAC is the largest market for AHU due to the high economic growth rate and heavy investments in various sectors such as data centers, building and construction, and hospitals, etc. Governments are taking initiatives to improve the fund flow by allowing 100% FDI in certain sectors to boost the growth of the economy. This will directly support the rising demand and improve the AHU market in APAC,” says Anju Ajay Kumar, a lead analyst at Technavio for research on unit operations.
The expanding commercial construction sector is the key driving factor for market growth in countries such as China and India. Regulations and efficiency norms in these countries are also other factors assisting the AHU market in APAC to grow.
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Air handling units market in EMEA
“Growing population and increase in construction projects in both residential and commercial segments are the driving factors for the AHU market in EMEA. Large-scale projects and government-led urban development projects will boost the demand for AHUs,” adds Anju.
The rise in construction activities will improve the AHU market in the Middle East. The GCC construction projects play a key role in the construction industry in the Middle East. However, the region faced pressures due to reduced government spending, increased competition from overseas, and other bureaucracy challenges in 2016.
Air handling units market in the Americas
The key driver of the AHU market in the Americas is the booming construction sector with respect to both commercial and residential segments. Most of the residential and commercial buildings in the US utilize ducted HVAC systems for air conditioning (ACs) that include the direct expansion system and the chilled water system. Incorporating HVAC systems in buildings will directly result in an increased demand for AHUs. Construction of new buildings or retrofitting of buildings will help in boosting the demand for AHUs.
The top vendors in the global air handling units market highlighted in the report are:
- Carrier
- DAIKIN INDUSTRIES
- Ingersoll Rand
- Johnson Controls
- Systemair
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