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(MoneyNewsWire.Net, March 28, 2018 ) The global air handling unit market is estimated at USD 6.93 Billion in 2016, and is projected to reach USD 12.91 Billion by 2026, at a CAGR of 5.7% from 2016 to 2021. The rising usage of air handling units across various application sectors such as commercial buildings, hospitals, industries, universities, data centers, and server rooms is expected to fuel the growth of the air handling units market.
The commercial application segment of the air handling units market is estimated to lead the air handling units market in 2016, and is also projected to grow at the highest CAGR from 2016 to 2021, in terms of value. The increasing demand of air handling units from the commercial application sectors such as shopping malls, hospitals, data centers, universities pharmaceutical & other industries, and laboratories is anticipated to drive the air handling units market.
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The packaged type segment is estimated to account for the largest share of the air handling units market in 2016. The growth of this segment can be attributed to the increasing demand of packaged air handling units from the commercial application segments such as hospitals, commercial buildings, data centers, universities, laboratories, and server rooms.
The ≤5000 m3/h capacity segment is estimated to account for the largest share of the global air handling units market in 2016. These are small capacity air handling units, mainly used for small premises in the residential sector, especially single family homes. The increasing demand for such air handling units from both commercial and residential application segments is expected to drive the growth of the ≤5000 m3/h capacity segment.
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Asia-Pacific is anticipated to be the largest market for air handling units. The large share of this region is attributed to the high economic growth rate, followed by heavy investments across various sectors, such as pharmaceutical, building & construction, hospitals, data centers, and R&D laboratories. Additionally, initiatives taken by various governments for the inflow of foreign investments to support the domestic demand are also anticipated to drive the air handling units demand in this region.
The factor inhibiting the growth of the air handling units market is the slow economic recovery of the European countries and North America. Key players operating in the global air handling units market, such as 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, have adopted various strategies to increase their market shares. New product launches, expansions, acquisitions, agreements, and joint ventures are some of the key strategies adopted by these players to achieve growth in the global air handling units market.
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