As per the report published by Fortune Business Insights, the global Air Duct Market size is projected to reach USD 12.16 billion by 2028, at a CAGR of 4.5% during the forecast period, 2021-2028
Pune, India , Feb. 27, 2023 (GLOBE NEWSWIRE) -- The global air duct market size was USD 8.60 billion in 2020, its anticipated to grow from USD 8.94 billion in 2021 to USD 12.16 billion in 2028, exhibiting CAGR of 4.5% during forecast period. Fortune Business Insights™ published this information in its report, titled “Air Duct Market, 2021-2028”.
Industry Development
FabricAir was chosen by the Austrian transport operator Linz AG to design and deploy an advanced air distribution system at its workshop that can cool down the facility without compromising on worker comfort.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 4.5% |
| 2028 Value Projection | USD 12.16 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 8.60 Billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 140 |
| Segments Covered | By Type, By Shape, By Application and By Region |
| Growth Drivers | Adoption of High-Efficiency HVAC Systems to Fuel Market Growth |
| Complex Installation Process and High Maintenance Cost May Hinder Market Growth |
Key Takeaways:
- Increasing Installation of Smart HVAC Technologies is Laying Foundation for Future Market Growth
- Increasing Infrastructural Development to Ensure High CAGR for Galvanized Steel Ducts Segment
- Fit to Design Manufacturing to Depict Higher Air Duct Market Share for Square/Rectangular Ducts
- Commercial Facilities Sub-segment to Boost Market Growth
- Key Players to Strengthen Product Portfolio with Smart Ducting Systems
- THERMAFLEX to Focus on Providing Innovative HVAC Products to Its End-users
COVID-19 Impact
Growing Importance of HVAC Systems amid COVID-19 to Boost the Market
The coronavirus has been proven to be transmitted through the air and as a result, the importance of heating, ventilation, and air conditioning (HVAC) systems has grown manifold amid the COVID-19 pandemic. Moreover, HVAC units that are equipped with air ducts have emerged as the preferred choice for most spaces due to their superior air circulation mechanism. According to Boston Standard, an expert in HVAC technology, ducted HVAC units have a higher exchange rate of clean and fresh air, minimizing the recirculation of stale air and purifying the indoor atmosphere. Leading research organizations have also developed breakthrough solutions that can further augment the efficacy of HVAC systems. In May 2021, for instance, India’s Central Scientific Instruments Organization (CSIO) formulated a UV-based filtration-disinfection technology for air conditioning and ventilation ducts. However, despite the multiple benefits of HVAC systems, the market posted a lower-than-average growth of 3.8% in 2020.
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Drivers & Restraints
- Heightened Pace of Urbanization to Support Market Growth
- The pace of urbanization has gathered momentum over the past few years, driven by rapid economic development and the widening of employment opportunities.
- According to recent estimates released by the UN’s Population Division, by 2050, approximately 68% of the global population will reside in urban spaces, led by large-scale migration from villages to cities in India, China, and Nigeria. Urban areas have emerged as huge breeding grounds for different kinds of pollutants and contaminants, heightening the need for effective ventilation solutions in households.
- Air duct-based HVAC systems provide the optimal solution to this festering issue as they are designed to pull in large quantities of fresh air and filter out pollutants with excellent efficiency.
- This factor is particularly significant for the air duct market growth because, according to the US Environmental Protection Agency (EPA), some pollutants are found to be in greater concentrations indoors than outdoors due to the limited space.
- Thus, as concerns surrounding indoor pollution continue to climb, the adoption of HVAC systems armed with ducts is set to soar in the forthcoming years.
Report Coverage
This report contains a careful segmentation of the market and a thorough study of each market segment. Further, the report offers in-depth research into the factors driving and restraining the market, along with a detailed analysis of the regional and competitive developments shaping the market trends. In addition to the above, the report also incorporates comprehensive projections about the upcoming market opportunities.
List of Key Players Present in the Market
- DMI Companies (United States)
- Aldes Group (France)
- THERMAFLEX (United States)
- Imperial Manufacturing Group (Canada)
- Saint-Gobain Performance Plastics (ISOVER) (France)
- KAD AIR CONDITIONING (BIN DASMAL GROUP) (United Arab Emirates)
- Durkeesox (Wuhan)Air Dispersion System Co., LTD (China)
- FabricAir (Denmark)
- CMS Group of Companies (United Arab Emirates)
- Lindab (Sweden)
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Segmentation
In terms of type, the market’s segments include galvanized steel, aluminum, flexible, fabric, and others.
Based on shape, the market is segregated into round, half-round, square/rectangular, triangular, and others.
On the basis of the application, the market has been divided into public facilities, commercial facilities, industrial facilities, and others. Here, the industrial facilities segment held a share of 13.7% in the global market and a share of 16.1% in the India market in 2020.
Geographically, the market has been analyzed across North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Segmentation
In terms of type, the market’s segments include galvanized steel, aluminum, flexible, fabric, and others.
Based on shape, the market is segregated into round, half-round, square/rectangular, triangular, and others.
On the basis of the application, the market has been divided into public facilities, commercial facilities, industrial facilities, and others. Here, the industrial facilities segment held a share of 13.7% in the global market and a share of 16.1% in the India market in 2020.
Geographically, the market has been analyzed across North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Major Table of Contents:
-
Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
-
Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
-
Impact of COVID-19 on Air Duct Market
- Short-term Impact
- Long-term Impact
-
Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Air Duct Market Share Analysis, 2020
- Key Market Insights and Strategic Recommendations
-
Profiles of Key Players (Would be provided for 10 players only)
-
Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
-
Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
-
Overview
- Primary Interview Responses
- Annexure / Appendix
TOC Continued…
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FAQ’s
How big is the Air Duct Market ?
The global Air Duct Market size was estimated at USD 8.60 billion in 2020 and is expected to reach USD 8.94 billion in 2021
What is the Air Duct Market growth?
The global Air Duct Market is expected to grow at a compound annual growth rate of 4.5% from 2021 to 2028 to reach USD 12.16 billion by 2028
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