Selbyville, Delaware, July 01, 2021 (GLOBE NEWSWIRE) --
Global Market Insights Inc. has recently added a new report on the air ducts market which estimates the market valuation for air ducts will cross US$ 5.5 billion by 2027. The rising adoption of green building initiatives, infrastructure development, and growing urbanization will propel the industry growth.
Fiberglass is anticipated to hold a considerable market share and will reflect a CAGR of around 3% during the projection time period. The growth of the segment is attributed to the rising need for flexibility in HVAC systems at both residential and commercial buildings. The fiberglass air ducts cost significantly less and is a preferred choice for homeowners.
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The rectangular air ducts will account for around 40% share by 2027. Rectangular shapes are widely utilized in the HVAC system as they allow consumers to fit air ducts into and above the ceiling walls. These air ducts are proven to be the most convenient when a building has space limitations, which is certain to bolster the usage of rectangular ducts for such applications, thereby, proliferating the industry size during the forecast timeline.
Oval air ducts in the shape segment are expected to witness sizable growth through 2027. These ducts offer longer lengths than the average rectangular ducts, allowing for limited air loss and maximum energy efficiency. Additionally, the longer length of oval ducts makes the installation job easier, which will significantly contribute to the growing market size.
The air ducts market from retail stores and shopping complexes is likely to experience over 3% CAGR till 2027 owing to the factors such as increasing disposable income, growth in nuclear families, and rapid urbanization trends across the emerging economies. The proliferation of the e-commerce sector along with advancement in organized retailing will boost the global air ducts market size over the forecast timeframe.
Europe is a key consumer of air ducts and will register more than 20% of the share in global air ducts market by 2027. The bolstering product demand from the region is attributable to the growth in the hospitality & tourism sector in countries including the UK, Spain, France, and Italy. The rising number of immigrants in the UK and increasing construction activities for hotels & lodging facilities will drive the need for HVAC infrastructure across Europe. The changing consumer lifestyle and technological advancements are expected to drive the need for modern retail shops in European countries, driving the product demand by 2027.
Some major findings of air ducts market report include:
- Galvanized steel will be the most consumed ductwork material owing to its strength, durability, and corrosion resistance.
- The office spaces end-user segment will generate the highest demand for air ducts.
- The large extent of construction activities in Asia Pacific renders the region the largest product consumer.
- Prominent air ducts market participants are M&M Manufacturing, Novaflex Group, Sisneros Bros. Mfg., Ruskin Titus India Pvt. Limited, Eastern Sheet Metal, DC Duct & Sheet Metal, Thermaflex, Deflecto, LLC, Dundas Jafine Inc., and others.
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Partial chapters of report table of contents (TOC):
Chapter 3 Global Air Duct Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 - 2027
3.3 Impact analysis of coronavirus (COVID-19) pandemic
3.3.1 Revenue generation
3.3.2 Industry value chain
3.3.3 Service availability
3.3.4 End-user applications
3.4 Industry ecosystem analysis
3.4.1 Profit margin analysis
3.4.2 Raw material suppliers
3.4.3 Value addition at each stage
3.4.4 Distribution channel analysis
3.4.5 Vendor matrix
3.4.5.1 List of key manufacturers/suppliers
3.4.5.2 List of key/potential customers
3.5 Industry mega trends
3.6 Product lifecycle analysis
3.7 Innovation & sustainability
3.7.1 Patent landscape
3.7.2 Technology landscape
3.7.2.1 Manufacturing process
3.7.3 Future trends
3.8 Installation & leakage testing
3.8.1 Installation
3.8.2 Leakage testing
3.9 Duct cleaning methods
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.1.1 Adoption of green building initiatives in the U.S. and Europe
3.10.1.2 Rising infrastructure development in Asia Pacific
3.10.1.3 The developing tourism & hospitality sector in Southeast Asia
3.10.1.4 Increasing urbanization in developing economies
3.10.1.5 Upcoming mega projects in the Middle East
3.10.2 Industry pitfalls & challenges
3.10.2.1 Competition from ductless HVAC systems
3.10.2.2 High service and maintenance costs associated with the product
3.11 Regulatory trends
3.12 Growth potential analysis
3.13 Competitive landscape
3.13.1 Company market share, 2020
3.13.2 Strategy dashboard
3.14 Porter’s analysis
3.14.1 Buyer power
3.14.2 Supplier power
3.14.3 Threat of substitutes
3.14.4 Threat of new entrants
3.14.5 Degree of competition
3.15 Pricing analysis
3.15.1 Installation cost
3.15.2 Cost structure analysis
3.15.2.1 R&D cost
3.15.2.2 Manufacturing & equipment cost
3.15.2.3 Raw material cost
3.15.2.4 Distribution cost
3.15.2.5 Operating cost
3.15.2.6 Miscellaneous cost
3.16 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.