The Variable Air Volume Systems market is a fast-growing market which is mainly driven by the increasing constructions of commercial buildings across the globe. The market is anticipated to reach a total of 15.39 billion by the end of 2023 at an excellent CAGR of 6.72%.
ABN Cleanroom Technology, a Belgium based company, has proposed a concept of a new era of pre-engineered modular cleanroom design to reduce the build time and increase the cost efficiency. However, newer algorithms than Variable Air Volume systems allow the design of highest leak- tightness at small cleanroom dimensions.
Market Value and Growth for Variable Air Volume Systems:
The market size of Variable Air Volume Systems markets was around USD 11.12 billion by revenue, at the end of 2018. It is anticipated to grow at CAGR of 6.72 % to reach USD 15.39 billion by 2023.
Variable Air Volume Systems Market Drivers and Restraints:
The increasing global population is a direct driver for the global rise in the construction business. The rise in commercial buildings also increases the use of VAV systems hence driving the global market for Variable Air Volume systems. Also, the wide-range applications of single duct VAV systems have added to the progress of global Variable Air Volumes market. However, the innovative alternatives to the VAV systems which are in the R&D stage may, in the future, restrain the global market growth. Also, the shift in major companies from North America and the Middle East to The Asia Pacific may in a way slow the market growth as a result of market concentration in the Asia Pacific.
Market Segmentation Analysis for Variable Air Volume Systems:
Based on the type of VAV Systems the global market is segmented into Single Duct VAV, Fan Powered VAV, Induction VAV, Dual Duct VAV, and Others. Among the different types of Variable Air Volume systems, the single duct VAV system is anticipated to have the fastest growth rate in the forecast period. The various advantages of single-duct type like exhaust, silencer, and reheating of the air makes it widely used in conference rooms, concert halls, private offices, classrooms, and music studios, hence giving a great boost to the growth of the global market for Variable Air Volume systems.
The VAV Systems market is categorized into Industrial Buildings, Residential Buildings, Commercial Buildings, and Others based on the application of the VAV systems. Of the mentioned applications the VAV systems are majorly used in commercial buildings, which makes this segment of applications the largest in terms of value and volume. The increasing population has increased the demand for commercial buildings such as towers, skyscrapers, auditoriums, convention centers, and shopping malls, thus increasing the demand for global VAV systems.
Market Geographical Analysis for Variable Air Volume Systems:
By geography, the Global market for VAV Systems is segmented as Latin America, Europe, Asia Pacific, Middle-East & Africa, and North America. The Asia Pacific region is projected to have the highest growth rate in the forecast period, due to increasing demand for growing end-use industries and scope of future opportunities, mainly in developing countries like Japan, India, and China. The market value of North America was the highest when compared to other regions in 2018, and is calculated to lead the market during the forecast period. The Middle East & Africa region is second in lead in terms of market value and volume as of 2018. The increasing number of end-use industries present in this region create demand for Variable Air Volume systems hence the huge market value. The European market value for Variable Air Volume systems is unusually low due to the dominance of North America, Asia Pacific, and The Middle East. The low growth rate in regions, such as Europe and North America is the result of the regional advantages gained by the Asia Pacific like cheap labor and ease of resource availability. These advantages make the market centered in the Asia Pacific hence forcing the Middle East. Europe and North America to have slow growth in the aforementioned forecast period. The Latin American region, consisting of low developing countries and low GDP countries, have fewer chances for industry growth. Hence, the Variable Air Volume Systems market in this region is slow growing in nature.
Variable Air Volume Systems Market Key Market Players:
By the end of 2018, United Technologies Corporation (U.S.), Daikin Industries Ltd. (Japan), KMC Controls Inc (US), Honeywell International Inc. (U.S.), Trane Inc (Ireland), KAD Air Conditioning (UAE), Ingersoll Rand Inc. (Ireland), Vemco Inc. (US), Johnson Controls (U.S.), Bion Safety Controls Pvt. Ltd. (India), Emerson Electric Co. (U.S.), Schneider Electric (France), and Barcol-Air Ltd. (Singapore) are the leading shareholders of the Global Variable Air Volume Systems market. These companies have invested in R&D activities to develop advanced products and are currently focused on expansion strategies to improve their market value and position.
Variable Air Volume Systems Market Research Report Key Highlights:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Single Duct VAV
5.1.3 Dual Duct VAV
5.1.4 Induction VAV
5.1.5 Fan Powered VAV
5.1.7 Y-o-Y Growth Analysis, By Type
5.1.8 Market Attractiveness Analysis, By Type
5.1.9 Market Share Analysis, By Type
5.2.2 Residential Buildings
5.2.3 Industrial Buildings
5.2.4 Commercial Buildings
5.2.6 Y-o-Y Growth Analysis, By Application
5.2.7 Market Attractiveness Analysis, By Application
5.2.8 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Application
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By Application
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 United Technologies Corporation
8.3 Daikin Industries Ltd.
8.4 KMC Controls Inc
8.5 Honeywell International Inc.
8.6 KAD Air Conditioning
8.7 Ingersoll Rand Inc.
8.8 Trane Inc
8.9 Vemco Inc.
8.10 Johnson Controls
8.11 Bion Safety Controls Pvt. Ltd.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures