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The Air Handling Units Market size was valued at USD 13.16 billion in 2023 and is expected to reach USD 23.00 billion by 2032 and grow at a CAGR of 6.40% over the forecast period 2024-2032.
The growth of the air handling units (AHU) market is primarily driven by increasing awareness about indoor air quality and ventilation systems, particularly in commercial and industrial sectors. Stringent government regulations regarding energy efficiency and sustainability are also propelling the demand for AHUs. Additionally, technological advancements such as smart and IoT-enabled AHUs, which offer remote monitoring and control capabilities, are fostering market growth. Growing urbanization and infrastructure development projects globally are further fueling the demand for HVAC systems, including AHUs. Moreover, the emphasis on green building initiatives and the need for HVAC system retrofits in existing buildings are contributing to market expansion. Emerging economies witnessing rapid industrialization and urbanization are creating lucrative opportunities for AHU manufacturers, driving market growth.
Recent trends in the air handling units (AHU) market include a shift towards smart and connected AHU systems, enabling remote monitoring and optimization of HVAC performance. There's also a growing emphasis on modular and compact AHU designs to accommodate space constraints and streamline installation processes. Additionally, increased focus on energy efficiency and sustainability is driving the integration of advanced technologies like heat recovery and variable speed drives into AHU systems, reducing energy consumption and operational costs.
Drivers
Rapid industrialization and urbanization in emerging economies.
Stringent government regulations promoting energy efficiency and sustainability.
Technological advancements such as smart and IoT-enabled AHUs.
Increasing awareness about indoor air quality and ventilation systems.
Increasing awareness about indoor air quality and ventilation systems is propelling the growth of the Air Handling Units (AHUs) market as individuals and organizations prioritize healthier indoor environments. Concerns about pollutants, allergens, and airborne pathogens are driving the demand for AHUs equipped with advanced filtration and purification technologies. Additionally, regulatory initiatives promoting improved indoor air quality standards further bolster the adoption of AHUs in various sectors including commercial buildings, healthcare facilities, and manufacturing plants.
Restraint
High initial investment cost for advanced AHU systems.
Challenges related to compatibility and integration with existing HVAC systems.
Opportunities
Increasing demand for energy-efficient and sustainable HVAC solutions.
Integration of AHUs with building automation systems for enhanced efficiency.
The opportunity lies in integrating AHUs with building automation systems to streamline HVAC operations, optimize energy consumption, and improve overall building performance. By enabling seamless communication and control, this integration enhances efficiency, reduces operational costs, and aligns with the increasing demand for smart and sustainable building solutions, driving growth in the AHU market.
Challenges
Competition from alternative HVAC solutions like split systems and rooftop units.
Ensuring reliable performance and uptime of AHU systems in diverse operating conditions.
Managing the complexity of multi-site installations and large-scale projects.
Impact of Russia-Ukraine War:
The war has caused significant disruptions to global supply chains, making it difficult for manufacturers to obtain raw materials and components needed for AHU production. This can lead to delays in production and project completion. Sanctions and other disruptions caused by the war have driven up the prices of raw materials and energy. This can make AHUs more expensive to produce and purchase, potentially dampening demand. A major impact is expected in Europe, a significant market for AHUs. With the war diverting resources and attention towards immediate needs and security concerns, construction projects and infrastructure developments might be deprioritized. This can lead to a decline in demand for AHUs in the region. Rising energy prices due to the war might make energy-consuming AHUs less attractive. This could lead to a shift in demand towards more energy-efficient models.
Impact of Economic Downturn:
During economic downturns, businesses and individuals tend to cut back on spending. This can lead to a decrease in new construction projects, which are a major driver of demand for AHUs. Existing buildings might also delay upgrades or renovations that would involve installing new AHUs. Companies facing financial strain might prioritize essential expenditures and postpone discretionary ones like installing new HVAC systems, which can include AHUs. A decline in business for sectors adopting the AHU system can lead to a decrease in demand for AHUs needed for their facilities. With tighter budgets, buyers may become more price-sensitive. This could lead to increased competition among AHU manufacturers and potentially lower profit margins.
Market Segment:
By Type
Packaged
Custom
Modular
Low Profile (Ceiling)
DX Integrated
Rooftop Mounted
Others
By Type, packaged type held the largest revenue share of more than 35% in 2023. This is mainly because of their simplified installation processes and cost-effectiveness. Their pre-engineered design integrates multiple components into a single unit, reducing complexity and making them a preferred choice for various commercial and industrial applications seeking efficient HVAC solutions.
By Capacity
≤5,000 M3/H
5,001 – 15,000 M3/H
15,001 – 30,000 M3/H
30,001 – 50,000 M3/H
≥50,001 M3/H
≤5,000 M3/H dominated the capacity segment of the Air Handling Units Market with the highest revenue share in 2023. This growth is primarily attributed to the prevalence of small to medium-sized commercial and residential buildings. These structures typically require AHUs with lower capacities to effectively manage their ventilation and air quality needs. Additionally, the cost-effectiveness and versatility of AHUs in this capacity range make them popular choices for a wide range of applications, further contributing to their market dominance.
By Application
Residential
Commercial
The commercial application dominated the application segment of the Air Handling Units Market with the highest revenue share of more than 55% in 2023. This dominance is primarily attributed to the robust demand from sectors like offices, retail, and hospitality. These commercial spaces prioritize efficient ventilation and indoor air quality control to ensure comfort and well-being for occupants. Additionally, stringent regulations and standards concerning workplace environments further drive the adoption of AHUs in commercial settings, contributing to the segment's significant revenue share.
Regional Analysis:
Asia Pacific held the largest revenue share of more than 36% in 2023 in the Air Handling Units Market. This is primarily attributed to the region's burgeoning construction sector. Rapid urbanization, infrastructure development, and expanding commercial and industrial activities across countries like China, India, and Southeast Asia are driving the demand for HVAC systems. Additionally, government initiatives promoting green buildings and stringent regulations concerning indoor air quality propel the adoption of AHUs and further drive the growth of the Asia Pacific region in the market.
North America is expected to grow at a significant CAGR during the forecast period of 2024-2031 due to factors such as robust industrial infrastructure, increasing adoption of advanced HVAC technologies, and rising emphasis on improving indoor air quality and energy efficiency standards. Additionally, government initiatives promoting green building practices and technological innovations driving the development of more efficient air handling units further contribute to this growth projection.
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Key Players:
Systemair AB, Trox GmbH, Daikin Industries Ltd., Lennox International, Inc., Carrier Corporation, Flakt Woods Group, Trane Inc, Johnson Controls Inc, GEA Group AG, Hitachi Ventus, and other players.
In January 2024, Carrier expanded its HVAC product line manufactured in India to include a variety of air handling units (AHUs) and fan coil units (FCUs). These units have been specifically designed to cater to the diverse needs of commercial buildings in India, offering customized solutions to ensure healthy indoor environments with high-efficiency air filtration capabilities.
In November 2023, Daikin introduced the Daikin Indoor Environmental Quality (IEQ) Sensor and the Air Handling Unit (AHU) Modular T Series. Following this, Daikin announced the launch of a fully integrated solution that combines the advantages of both products.
In January 2023, Lennox Industries, a reputable provider of home comfort solutions and a pioneer in energy efficiency for over 127 years, unveiled the latest additions to its advanced range of smart products.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 13.16 Billion |
| Market Size by 2032 | US$ 23.00 Billion |
| CAGR | CAGR of 6.40% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Packaged, Custom, Modular, Low Profile (Ceiling), DX Integrated, Rooftop Mounted, and Others) • By Capacity (≤5,000 M3/H, 5,001 – 15,000 M3/H, 15,001 – 30,000 M3/H, 30,001 – 50,000 M3/H, and ≥50,001 M3/H) • By Application (Residential and Commercial) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Systemair AB, Trox GmbH, Daikin Industries Ltd., Lennox International, Inc., Carrier Corporation, Flakt Woods Group, Trane Inc, Johnson Controls Inc, GEA Group AG, Hitachi Ventus, and other players. |
| DRIVERS | • Rapid industrialization and urbanization in emerging economies. • Stringent government regulations promoting energy efficiency and sustainability. • Technological advancements such as smart and IoT-enabled AHUs. • Increasing awareness about indoor air quality and ventilation systems. |
| Restraints | • High initial investment cost for advanced AHU systems. • Challenges related to compatibility and integration with existing HVAC systems. |
Ans: The Air Handling Units Market was valued at USD 13.16 billion in 2023.
Ans: The expected CAGR of the global Air Handling Units Market during the forecast period is 6.40%.
Ans: The residential application segment is expected to grow at the highest CAGR in the Air Handling Units Market during the forecast period.
Ans: China dominated the Air Handling Units Market in the Asia Pacific region.
Ans: The growth of the Air Handling Units (AHU) market is primarily fueled by increasing demand for energy-efficient HVAC systems and stringent regulations promoting sustainable construction practices.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Average Selling Price
9.1 North America
9.2 Europe
9.3 Asia-Pacific
9.4 Middle East & Africa
9.5 Latin America
10. Global Air Handling Units Market Segment, By Type
10.1 Introduction
10.2 Trend Analysis
10.3 Packaged
10.4 Custom
10.5 Modular
10.6 Low Profile (Ceiling)
10.7 DX Integrated
10.8 Rooftop Mounted
10.9 Others
11. Global Air Handling Units Market Segment, By Capacity
11.1 Introduction
11.2 Trend Analysis
11.3 ≤5,000 M3/H
11.4 5,001 – 15,000 M3/H
11.5 15,001 – 30,000 M3/H
11.6 30,001 – 50,000 M3/H
11.7 ≥50,001 M3/H
12. Global Air Handling Units Market Segment, By Application
12.1 Introduction
12.2 Trend Analysis
12.3 Residential
12.4 Commercial
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Eastern Europe
13.3.1.1 Poland
13.3.1.2 Romania
13.3.1.3 Hungary
13.3.1.4 Turkey
13.3.1.5 Rest of Eastern Europe
13.3.2 Western Europe
13.3.2.1 Germany
13.3.2.2 France
13.3.2.3 UK
13.3.2.4 Italy
13.3.2.5 Spain
13.3.2.6 Netherlands
13.3.2.7 Switzerland
13.3.2.8 Austria
13.3.2.9 Rest of Western Europe
13.4 Asia-Pacific
13.4.1 China
13.4.2 India
13.4.3 Japan
13.4.4 South Korea
13.4.5 Vietnam
13.4.6 Singapore
13.4.7 Australia
13.4.8 Rest of Asia Pacific
13.5 The Middle East & Africa
13.5.1 Middle East
13.5.1.1 UAE
13.5.1.2 Egypt
13.5.1.3 Saudi Arabia
13.5.1.4 Qatar
13.5.1.5 Rest of the Middle East
13.5.2 Africa
13.5.2.1 Nigeria
13.5.2.2 South Africa
13.5.2.3 Rest of Africa
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Colombia
13.6.4 Rest of Latin America
14. Company Profiles
14.1 Systemair AB
14.1.1 Company Overview
14.1.2 Financial
14.1.3 Products/ Services Offered
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Trox GmbH
14.2.1 Company Overview
14.2.2 Financial
14.2.3 Products/ Services Offered
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Daikin Industries Ltd.
14.3.1 Company Overview
14.3.2 Financial
14.3.3 Products/ Services Offered
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Lennox International, Inc.
14.4.1 Company Overview
14.4.2 Financial
14.4.3 Products/ Services Offered
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 Carrier Corporation
14.5.1 Company Overview
14.5.2 Financial
14.5.3 Products/ Services Offered
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 Flakt Woods Group
14.6.1 Company Overview
14.6.2 Financial
14.6.3 Products/ Services Offered
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Trane Inc.
14.7.1 Company Overview
14.7.2 Financial
14.7.3 Products/ Services Offered
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 Johnson Controls Inc.
14.8.1 Company Overview
14.8.2 Financial
14.8.3 Products/ Services Offered
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 GEA Group AG
14.9.1 Company Overview
14.9.2 Financial
14.9.3 Products/ Services Offered
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Hitachi Ventus
14.10.1 Company Overview
14.10.2 Financial
14.10.3 Products/ Services Offered
14.10.4 SWOT Analysis
14.10.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. Use Case and Best Practices
17. Conclusion
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