LONDON--(BUSINESS WIRE)--The global air handling unit market is poised to grow by USD 2.85 billion during 2020-2024, progressing at a CAGR of almost 7% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Air Handling Unit Market Analysis Report by Type (Non-residential and Residential), Capacity (<5000 m3 per hour, 5000-15000 m3 per hour, and >15000 m3 per hour), Geographic Segmentation (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024".
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The market is driven by the growing construction sector. In addition, the increase in data centers is anticipated to boost the growth of the air handling unit market.
The construction industry is expanding with the rise in construction activities of commercial and residential buildings in emerging countries. APAC, being the major market for construction is expected to grow at the highest rate in the forthcoming years. The construction sector in the APAC region is growing due to ongoing developments in real estate and infrastructure sectors. Warehouse constructions and hotel construction activities are witnessing growth in this region. Technology and finance firms are also making investments in the building of office spaces. Furthermore, growing environmental concerns are encouraging emerging markets such as Australia, Indonesia, Vietnam, India, and China to move toward the construction of green buildings. This is promoting the adoption of HVACs and AHU systems in high-rise buildings and office buildings to maintain the air quality inside the buildings. Economies such as the US, the UK, and Germany are experiencing a growing need for the replacement of existing AHUs due to the provision of favorable incentives from the governments. The growing demand for energy efficiency and need for minimizing the operating costs are also playing a major role in the replacement demand for AHUs in these economies. Thus, the market for air handling unit is expected to grow during the forecast period.
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Major Five Air Handling Unit Market Companies:
Daikin Industries Ltd.
Daikin Industries Ltd. operates the business under various segments such as Air conditioning, Chemicals, and Others. The company offers custom air handler, vision semi-custom indoor air handler, destiny commercial indoor air handler, and skyline semi-custom outdoor air handler.
FlaktGroup
FlaktGroup offers products for air diffusion, air filtration, air conditioning and heating, air management, air movement, and air distribution. The company also provides compact air handling units, energy recovery solution, swimming pool dehumidification, and integrated heating and cooling.
GEA Group AG
GEA Group AG operates under various business segments, namely Business area equipment and Business area solutions. The company provides cooling system, separators, homogenizers, valves, pumps, and refrigeration equipment. They also offer customized products for end-user industries including transportation, chemical, marine, and food.
Ingersoll-Rand Plc
Ingersoll-Rand Plc offers products through the following business segments: Climate and Industrial. The company provides innovative energy services such as HVAC systems and solutions for industrial, commercial, and residential buildings. It also offers Thermo King transport temperature control solutions.
Johnson Controls International Plc
Johnson Controls International Plc offers products through the following business segments: Building technologies & solutions and Power solutions. The company offers energy management solutions for residential and non-residential buildings. It also provides YORK custom air handling units and YORK solution air handling units.
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Air Handling Unit Market Type Outlook (Revenue, USD Billion, 2020-2024)
- Non-residential
- Residential
Air Handling Unit Market Capacity Outlook (Revenue, USD Billion, 2020-2024)
- <5000 m3 per hour
- 5000-15000 m3 per hour
- >15000 m3 per hour
Air Handling Unit Market Geographic segmentation Outlook (Revenue, USD Billion, 2020-2024)
- APAC
- Europe
- MEA
- North America
- South America
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