Portland,OR, Nov. 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global air handling units market generated $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. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $12.6 billion |
| Market Size in 2031 | $24.9 billion |
| CAGR | 6.8% |
| No. of Pages in Report | 204 |
| Segments Covered | Placement, business, end-user, and region |
| Drivers | Rise in demand for energy efficient products |
| Increase in awareness about the impact of pollution on human health | |
| Opportunities | Surge in demand for cool and hot air in the rooms or buildings |
| Surge in investment in both commercial and residential projects | |
| Restrains | Extortionate cost of maintaining air handling units |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a negative impact on the growth of the global air handling units market, owing to the presence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of air handling units, which adversely impacted its demand during the pandemic.
- In addition, all sorts of constructions and residential projects were closed down during the pandemic due to strict social distancing restrictions imposed by the governments of various countries across the globe.
- Furthermore, shortage of workforce and raw materials due to ban on import and export of items aggravated the impact on the market.
- However, the market is expected to recoup with increase in awareness about the environment among people and eased lockdowns restrictions.
The report offers detailed segmentation of the global air handling units market based on placement, business, end-user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on placement, the outdoor segment held the largest market share in 2021, holding nearly two-thirds of the global air handling units market, and is expected to maintain its leadership status during the forecast period. The indoor segment, on the other hand, is expected to cite the fastest CAGR of 7.4% during the forecast period.
Based on business, the new installations segment held the dominating market share in 2021, holding nearly three-fifths of the global air handling units market, and is expected to maintain its leadership status during the forecast period. The aftermarket segment, on the other hand, is expected to cite the fastest CAGR of 6.9% during the forecast period.
Based on end-user, the commercial segment held the dominating market share in 2021, holding nearly half of the global air handling units market, and is expected to maintain its leadership status during the forecast period. The residential segment, on the other hand, is expected to cite the fastest CAGR of 7.6% during the forecast period.
Based on region, the market across Asia-Pacific region held the largest market share in 2021, holding more than two-fifths of the global air handling units market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 8.1% during the forecast period.
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Leading Players -
The key players analyzed in the global air handling units market report include 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.
The report analyzes these key players in the global air handling units market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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