The report "Air Handling Units Market by Application (Commercial, Residential), Type (Packaged, Modular, Custom), Capacity (≤ 5000 m3/h, 5001 - 15000 m3/h, 15001 - 30000 m3/h, 30001 - 50000 m3/h, ≥ 50001 m3/h), Region - Global Forecast to 2026", is projected to reach USD 12.91 Billion by 2026, at a CAGR of 5.7% from 2016 to 2026. The increase in demand of air handling units from the application sectors such as commercial buildings, industries, hospitals, universities, data centers, laboratories, and server rooms is propelling the growth of this market.
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Browse 100 market data tables and 36 figures spread through 150 pages and in-depth TOC on "Air Handling Units Market”
COVID-19 Impact on the Global Air Handling Units Market
The air handling units market includes major Tier I and II suppliers like Daikin Industries Ltd. (Japan), Carrier Corporation (US), Trane Technologies plc (Ireland), Johnson Controls International plc (Ireland), and Systemair AB (Sweden). These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and Middle East & Africa. COVID-19 has impacted their businesses as well.
- In March 2020, Daikin Industries Ltd. determined the operating status of suppliers and parts inventory, implemented inventory adjustments between Daikin Group factories in China, and flexibly changed production plans.
- In early 2020, Carrier Corporation temporarily closed or reduced production at manufacturing facilities in North America, Asia, and Europe for safety reasons and in response to lower demand for their products.
- In the second quarter of fiscal 2020, Johnson Controls International plc experienced a temporary reduction of its manufacturing and operating capacity in China because of government-mandated actions to control the spread of COVID-19. In the third quarter of fiscal 2020, Johnson Controls International plc experienced similar reductions because of government-mandated actions in India and Mexico.
- In April 2020, TROX GMBH has set up a cross-functional Global Response Team to tackle the challenges presented by the new coronavirus. The Covid-19 pandemic has affected operations globally and hence the company has restricted all business-related travel and recommended the work from home option to its employees. The company has limited its manufacturing operations and project expansions.
15001 - 30000 m3/h capacity segment is anticipated to grow at the highest CAGR from 2016 to 2026
The 15001 - 30000 m3/h capacity segment is anticipated to grow at the highest CAGR in the air handling units market from 2016 to 2026. These are medium size air handling units which are used in commercial applications such as hospitals, shopping malls, commercial buildings, data centers, and laboratories. Due to the increasing awareness regarding the impacts of pollution on environment and human health, there is a high rise in the use of air handling units. Air handling units are not only used for cooling and heating purpose, but also for providing fresh air, humidification, and controlling relative humidity. These features contribute towards the growing demand of 15001 - 30000 m3/h capacity air handling units.
Commercial is the fastest-growing application segment of the global air handling units market
The commercial segment is estimated to account for the largest share of the air handling units market in 2016, and is projected to be the fastest-growing segment from 2016 to 2026. This growth can be attributed to the increased demand of air handling units in the commercial application sectors such as shopping malls, hospitals, universities, data centers, industries, cleanrooms, and server rooms.
Asia-Pacific estimated to be the largest market for air handling units in 2016
Asia-Pacific is estimated to be the largest market for air handling units in 2016. This large share can be attributed to the growing demand for air handling units from the application sectors such as shopping malls, hospitals, universities, data centers, industries, cleanrooms, and server rooms in this region.
Key players operational in the market include Daikin Industries, Ltd. (Japan), Carrier Corporation (U.S.), Trane Inc. (Ireland), Johnson Controls, Inc. (U.S.), GEA Group AG (Germany), Systemair AB (Sweden), Flakt Woods Group (Sweden), CIAT Group (France), Trox GmbH (Germany), and Lennox International Inc. (U.S.), among others.
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