HVAC Air Duct Market was valued at USD 13,213.7 Million in 2021 and is projected to reach USD 17,502.6 Million by 2028; it is expected to grow at a CAGR of 4.1% from 2021 to 2028.
The growing number of data centers across the globe is propelling the demand for HVAC systems and hence driving the growth of the HVAC air duct market. A few driving factors for the construction of data centers are an increase in Internet usage, the emergence of the Internet Protocol as a common computer communication standard, and the continued advances in web technology, which have served as catalysts for several common business initiatives. Another factor contributing to the boom in data center construction is the growing number of internet-connected devices for personal and business applications.
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Companies profiled in this report include: TIN MAN SHEET METAL FABRICATION, LLC; metal fabricators Hennemuth; Aircon Waves Pvt. ltd. ; DuctSox; Lindab; Turnkey duct systems; M&M manufacturing; SetDuct; American led; and VK STEEL
Impact of COVID-19 Pandemic on HVAC Air Duct Market
The COVID-19 pandemic has affected most businesses around the world. The continued growth in the number of patients infected with the virus has compelled government authorities in various countries to restrict the movement of human beings, goods and merchandise by imposing travel restrictions, mass lockdowns and business closures. The imposition of containment has led to a drop in the production of raw materials and goods and reduced the frequency of service offers. Manufacturing, automotive, semiconductors and electronics, oil and gas, aviation, mining and other industries saw a notable drop in revenue due to the temporary shutdown operations. In the first quarter of 2020, after the nationwide lockdown was imposed in most countries, many industrial sectors came to a halt. The HVAC air duct is widely used in laboratories and in various industries such as pharmaceutical, food, electronics and semiconductor industry and manufacturing industry. The demand for HVAC air ducts in various small and medium businesses has also been negatively affected. However, once the situation returns to normal, the HVAC air duct market is expected to grow remarkably across the globe during the forecast period.
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Main results of the study:
The global HVAC air duct market is segmented into five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). The market in Europe is under-segmented in France, Germany, Russia, Italy, UK and Rest of Europe. Compared to Nordic and Eastern European countries, Western European countries are more developed and technologically advanced. The growth of the market in the region is largely attributed to the growing demand for HVAC air ducts in hotels, restaurants, office buildings and medical centers as well as in the food and beverage industry. The number of airports under construction is increasing at a steady rate to accommodate the increasing traffic, which would drive the growth of the market in the coming years. Additionally, increasing adoption of green building technologies across Europe is expected to fuel the market growth over the forecast period. Many architects and governments in the residential and commercial sector are implementing green building technology because of its various benefits, such as greater energy efficiency, lower carbon footprint, and reduced impact on the environment. Subsequently, the demand for HVAC systems is expected to increase due to the application of renewable energy for space heating and ventilation.
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Contact person: Sameer Joshi
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The Insight Partners is an industry unique research provider of actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Health IT, Manufacturing and Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.
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