Emphasis on Type (Modular, Custom, Rooftop Units DIX Integration, Packaged, and Others); Working Principle (Blow-through and Draw-through); Application (Residential, Commercial, and Industrial); and Region/Country
Global Air Handling Units Market is expected to grow at a significant rate of around 6% during the forecast period. An air handling unit (AHU) also referred to as an air handler is the air filtration made up of galvanized steel, aluminum, and other alloys which are equipped with double-walled panels to ensure the energy efficiency is used to control the moment of air from the outside to the inside of a building. It takes the air from the outside and conditions it, which involves heating, dampening, and cooling, and supplies fresh air to the building or the assigned space. It can be implemented in residential buildings as well as commercial buildings. An air handling units consist of a fan, filter, cooling coil, heating coil, blower system, duct system, and motor system. It cools the rooms and supplies fresh air inside by heating or cooling them in accordance with the temperature of the inside air. In addition, the operation of the air handling units involves circulation, heating, humidifying, cooling, cleaning, and dehumidifying & mixing of the air. Furthermore, the increasing investment, merger & acquisition, and technological advancement will propel the market in the coming time. For instance, Johnson control acquired Silent-Aire company which manufacture, design, and engineers custom air handler & modular data center for hyperscale cloud.
Carrier Corporation, DAIKIN INDUSTRIES, Ltd., Barkell Ltd., Trosten Industries Company LLC, Systemair AB, Wolf GmbH, Hitachi Ventus, CIAT Group, Johnson Controls, and Lennox International. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, packaged air handling units category to witness robust CAGR during the forecast period”
Based on type, the market is segmented into modular, custom, rooftop units, DX integration, packaged, and others. The packaged air handling unit witnessed higher CAGR during the forecast period owing to their applicability to implementation in the smaller building as well as in commercial complexes as they are having fixed components. The cooling units in the packaged air handling units comprising of the air handling blower, expansion valve, evaporator, and filter which are located on the floor ceiling. The innovative product offering and modification as per the requirement is the other factor that is contributing to the market growth of packaged air handling units. For instance, AirCraft Air Handling provides a wide range of products with aluminum construction and client-specific design.
“Amongst application, the commercial segment to hold a significant share in the market in 2020”
Based on application, the air handling units’ market has been classified into the commercial, residential, and industrial segments. The commercial air handling unit segment is expected to witness significant market growth during the forecast period owing to the establishment of commercial buildings such as hospitals, schools & universities, shopping malls, and others across the world. However, the share for the residential and industrial segment also witnesses significant growth due to the growing demand for hygienic & centralized cooling systems globally. Furthermore, the increasing investment in the industrial segment propels the market growth for this segment across the globe.
“Asia-Pacific to hold a significant share in the market”
In 2020, Asia-Pacific held a significant share of the global market. This is mainly due to the increasing investment across several sectors such as building & construction, pharmaceutical, data center & development laboratories. Additionally, growing disposable income and surging per capita spending of individuals in the emerging economies of the region are driving the growth of the market. Moreover, the rapid industrialization & urbanization coupled with the growing awareness among individuals for maintaining adequate hygienic air quality on the premises. Also, technological advancement such as the integration of AI, ML, and sensors technology for motion-activated air conditioning is also propelling the market growth for the air handling unit. Furthermore, the increasing investment and mergers & acquisitions in the field of air handling tools market also accounted for the significant market growth. For Instance, in April 2022, Systemair acquired Italian company SagiCofim which is the leading manufacturer of air filters for healthcare, marine application, and energy sectors among others, to strengthen its air filter segment units business and intensified its product portfolio across the globe.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Air Handling Units Market
6. Air Handling Units Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Type
8. Market Insights By Working Principle
9. Market Insights By Application
10. Market Insights By Region
11. Air Handling Units Market Dynamics
12. Air Handling Units Market Opportunities
13. Air Handling Units Market Trends & Insights
14. Demand And Supply Side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Air Handling Units Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global air handling units market were the three major steps undertaken to create and analyze the adoption of air handling units in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global air handling units market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the air handling units market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the air handling units market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, working principle, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the air handling units market. Further, we conducted factor analysis using dependent and independent variables such as various types, working principles, and applications of air handling units. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the air handling units market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global air handling units market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global air handling units market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, working principle, and application in the global air handling units market.
The main objective of the Global Air Handling Units Market Study
The current & future market trends of the global air handling units market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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