Air Handling Units Market Research, 2031
The global air handling units market size was valued at $12.6 billion in 2021, and is projected to reach $24.9 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.
Air handling units are used to control air movement from outside to inside of the building. The units take the air from outside and conditions it, which involve cooling, heating, humidifying, thus supplying fresh air into buildings. It consists of blower section, duct system, heating coil or air from interiors. It supplies fresh air inside by heating it or cooling it according to temperature of air required inside the rooms or buildings.
Rise in demand for energy efficient products drives the demand for air handling units market. In addition, increasing awareness about the impact of pollution on human health is also a major factor for the air handling units market growth. Increasing demand for cool and hot air in the rooms or buildings according to the varied temperature has also increased for the air handling units. Moreover, growing urbanization and increasing investments in commercial and residential projects are expected to boost the demand of the market. Furthermore, growing consumer awareness regarding energy conservation, improved thermal comfort and energy efficiency are factors that are expected to help grow the demand for air handling units in both the residential, commercial and industrial construction markets. However, the maintenance cost of air handling units and more area required to install it can hamper the growth of the air handling units market. On the contrary, requirement for air handling units in shopping malls, hospital, hotels & lounges and other is anticipated to surge in demand for the air handling units market during the forecast period.
Major players have adopted various strategies such as product launch and acquisition, to sustain the competition and improve the product portfolio. For instance, in January 2022, Munters AB acquired EDPAC, which is an Ireland based manufacturer of air handling units and data center cooling equipment. This acquisition is a part of Munters strategy to grow in prioritized data center segment and air handling systems. Although it’s also been strengthening Munters presence in Europe through the acquisition. Such strategic moves are anticipated to boost the air handling units market opportunity.
The air handling units market is segmented into Placement, Business and End-users and region. On the basis of placement, the market is divided into outdoor and indoor. On the basis of business, the market is divided into new installation and aftermarket. On the basis of end-user, the market is divided into residential, commercial and industrial. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
On the basis of placement, the outdoor segment generated the highest revenue in 2021, due to rise in demand for energy efficient products fuel the growth of the air handling units market.
On the basis of region, Asia-Pacific registered highest market share in the global air handling units market share in 2021, owing to increase in industrialization and rapid urbanization in countries such as China, India, Vietnam, and Indonesia boost the growth of construction activities, which further fuel the growth of the market. Furthermore, majority of the countries in the region are spending on construction sector for the growth of their economies.
On the basis of end-user, the commercial segment accounted for the highest revenue in the global market in 2021, owing to construction of new official buildings, schools, colleges, shopping malls, hotel, and commercial complexes.
COMPETITION ANALYSIS
The key players that operate in the air handling units market are Barkell Ltd., Blue Star Limited, Carrier Global Corporation, Ciat Group, Daikin Industries Ltd. FlaktGroup, Hitachi Ltd., Holtop, Johnsons Controls International Plc, Lennox International Inc., Munters Group AB, Stulz GmbH, Swegon Group AB, Systemair AB, Trosten Industries Company LLC., VTS Group, and Wolf GmbH.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging global air handling units market trends and dynamics.
- In-depth global air handling units market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
- Extensive analysis of air handling units market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- Air handling units market forecast analysis from 2022 to 2031 is included in the report.
- The key players with in air handling units market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of air handling units industry.
Air Handling Units Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 24.9 billion |
 Growth Rate | CAGR of 6.8% |
 Forecast period | 2021 - 2031 |
 Report Pages | 204 |
 By Placement |
|
 By Business |
|
 By End-users |
|
 By Region |
|
 Key Market Players | Lennox International Inc., Barkell Ltd., Trosten Industries Company LLC, Stulz GmbH, WOLF GmbH, Munters Group AB, Johnsons Controls International Plc, FlaktGroup, Ciat Group, Daikin Industries Ltd., Systemair AB, Carrier Global Corporation, Blue Star Limited, VTS Group, Holtop, Swegon Group AB, Hitachi Ltd. |
Analyst Review
The air handling units market has observed huge demand in North America, Asia-Pacific, and Europe. Asia-Pacific is projected to register significant growth in near future due to owing to increase in industrialization and rapid urbanization in countries such as China, India, Vietnam, and Indonesia boost the growth of construction activities, which further fuel the growth of the market. In addition, an increase in commercial, residential and industrial construction activities fuels the demand for air handling units, which boosts the growth of the air handling units market. The commercial segment accounted for the majority of the market share in 2021, owing to construction of new official buildings, schools, colleges, shopping malls, hotel, and commercial complexes is anticipated to drive the growth of the commercial sector.
Various market players have adopted strategies, such as product launch, business expansion, acquisition, and agreement to expand its business and strengthen its market position. For instance, in February 2022, Carrier Global Corporation acquired Systemax Pty Ltd, an independent Automated Logic controls contractor operating in Queensland and Northern Territory, Australia and in Papua New Guinea. The acquisition expands Carrier’s global footprint in building automation and controls in the region. As a result, such strategic moves are expected to provide lucrative growth opportunities in the global air handling units market.
Rise in demand for energy efficient products are the upcoming trends of Air Handling Units Market in the world.
Commercial is the leading end-user of Air Handling Units Market.
Asia-Pacific is the largest regional market for Air Handling Units.
The global air handling units market size was valued at $12,605.1 million in 2021.
Barkell Ltd., Blue Star Limited, Carrier Global Corporation, Ciat Group, Daikin Industries Ltd. FlaktGroup, Hitachi Ltd., Holtop, Johnsons Controls International Plc, Lennox International Inc., Munters Group AB, Stulz GmbH, Swegon Group AB, Systemair AB, Trosten Industries Company LLC., VTS Group, and Wolf GmbH are the top companies to hold the market share in Air Handling Units.
The base year considered in the global air handling units market report is 2021.
The top 17 market players are selected based on two key attributes- competitive strength and market positioning.
The report contains an exclusive company profile section, where leading 17 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
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