Pune, India, June 30, 2021 (GLOBE NEWSWIRE) -- The global air duct market size is projected to reach USD 12.16 billion by 2028, exhibiting a CAGR of 4.5% during the forecast period. Standing at USD 8.60 billion in 2020, the market is expected to attain a value of USD 8.94 billion in 2021, states Fortune Business Insights™ in its report, titled “Air Duct Market, 2021-2028”.
Highlights of the Report
This Air Duct Market 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.
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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.
Segmentation
In terms of type, the market’s segments include galvanized steel, aluminum, flexible, fabric, and others.
Based on shape, the Air Duct 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.
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Driving Factor
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.
Regional Insights
Asia Pacific to Experience Accelerated Growth in the Market, observes Fortune Business Insights
Asia Pacific is in the best position to dominate the air duct market share during the forecast period, principally attributable to the enormous investments in critical infrastructures, such as new-age airport terminals, in India, China, Malaysia, and Vietnam. India, in particular, is expected to lead the regional market owing to the speedy advancements in the development of smart cities in the country. In 2020, the region’s market size stood at USD 3.96 billion.
The market in Europe is predicted to enter a period of prolific expansion and growth on account of the strong presence of major HVAC manufacturers in the region, especially in Western Europe. In North America, on the other hand, the demand for these ducts is likely to increase due to the improving ventilation standards in the US and Canada.
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Competitive Landscape
Introduction of Cutting-Edge Air Conditioning Solutions to Fuel Competition
Since many countries and cities across North America and Europe experience extremely cold weather for a large part of the year, key players are engaged in the development of novel air duct solutions that can provide efficient and effective thermal conductivity within spaces. These innovations are enabling companies to partner with diverse entities across industries and broaden their sales opportunities.
Industry Development
- May 2021: 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.
List of Key Players Covered in this Air Duct Market Report
- 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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Table Of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Air Duct 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)
- 6.1. 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
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Primary Interview Responses
- Annexure / Appendix
- Global Air Duct Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Type (Value)
- Galvanized Steel Duct
- Aluminium (Al) Duct
- Flexible Duct
- Fabric Duct
- Others (PVC Duct, etc.)
- By Shape
- Round
- Half Round
- Square/Rectangular
- Triangular
- Others (Customized, etc.)
- By Application (Value)
- Public Facilities
- Commercial Facilities
- Industrial Facilities
- Others (Government Buildings etc.)
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- By Type (Value)
- Global Air Duct Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
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Air Duct Market to Touch USD 12.16 Billion by 2028; Escalating Demand for Efficient Indoor Ventilation - GlobeNewswire
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