CHICAGO, Nov. 12, 2021
CHICAGO, Nov. 12, 2021 /PRNewswire/ -- According to the new market research report "Air Handling Units Market by Application (Commercial, Residential), Type (Packaged, Modular, Custom), 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), & Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Air Handling Units Market is projected to reach USD 15.9 billion by 2026, at a CAGR of 6.5% from 2021 to 2026. Increase in demand of air handling units from the application sectors such as commercial buildings, industries, hospitals, universities, data centers, laboratories, and server rooms is propelling the growth of this market.
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Custom air handling units is one of the fastest-growing type segment of the global air handling units market
The custom air handling units is estimated to account for the second-largest share of the air handling units market in 2021 and is projected to be the fastest-growing type segment from 2021 to 2026. The growth is mainly attributed to the rising demand of custom air handling units from the commercial application sectors such as pharmaceutical industries, shopping malls, hospitals, and universities.
15,001 – 30,000 m3/h capacity segment is anticipated to grow at the highest CAGR from 2016 to 2026
The 15,001 – 30,000 m3/h capacity segment is anticipated to grow at the highest CAGR in global air handling units market from 2021 to 2026. These are medium size air handling units which are used in commercial applications such as hospitals, shopping malls, commercial buildings, data centers, and laboratories. Due to the increasing awareness regarding the impacts of pollution on environment and human health, there is a high rise in the use of air handling units, as air handling units are not only used for cooling and heating purpose, but also for providing fresh air, humidification, and controlling relative humidity. These functions contribute towards the growing demand of 15,001- 30,000 m3/h capacity air handling units.
Commercial is the fastest-growing application segment of the global air handling units market
The commercial segment is estimated to account for the largest share of the global air handling units market in 2021 and is projected to be the fastest-growing segment from 2021 to 2026. This growth can be attributed to the increased demand for the use of air handling units in the commercial application sectors such as the shopping malls, hospitals, universities, data centers, industries, clean rooms, and server rooms
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Asia-Pacific is projected to register the fastest growth for the air handling units market from 2021 to 2026
Asia-Pacific is the largest and fastest-growing market for air handling units during the forecast period. This increased demand can be attributed to the growing demand for air handling units from the commercial and residential applications. The air handling units markets in countries such as China, India, Japan, South Korea and Thailand are projected to witness growth during the forecast period owing to increased demand for air handling units from various application segments such as electronics, food and beverages processing sector, pharmaceutical, commercial buildings, hospitals, universities, swimming pool, data centers, and residential buildings.
Key players operational in the market include Daikin Industries Ltd. (Japan), Carrier Corporation (US), Trane Technologies plc (Ireland), Johnson Controls International plc (Ireland), Systemair AB (Sweden), Flakt Woods Group (Sweden), Trox GmbH (Germany), Lennox International, Inc. (US), Munters AB (Sweden), and Blue Star Limited (India).
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