Air Handling Units Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

The global air handling units market is anticipated to expand at a compounded annual growth rate (CAGR) of 6.2% during the forecast period of 2022-2030.

Air handling units (AHUs), also referred to as air handlers or air systems, are central air filtration systems that recondition the air to maintain and regulate the air quality and indoor temperatures. These units are typically made utilizing a metallic frame composed of galvanized steel, aluminum, and other alloy panels. These units are also armed with double-walled panels for energy efficiency, so they are also known as energy-efficient air purifiers. Heating & cooling coils, ventilators, filter chambers, dampers, and accentuates are some of the important elements of the air handling system.

Growth Drivers:

The primary factors driving the growth of this market include the augmenting demand and usage of air handling units across various application sectors around the globe; the soaring pollution levels worldwide; the escalating technological developments in air handling units; the augmenting demand for comfortable living and working conditions; the burgeoning need for energy-efficient air handling unit for quality indoor air regulation; and the increasing launching of air handling units with greater capacities by market players across all regions.

Additionally, the majority of the infrastructures such as offices, buildings, and industries need efficient air handling systems for proper functioning. The surging industrialization and the increasing number of infrastructure projects across the globe are also acting as a significant factor fueling the growth of the air handling units market. With this, the investments made in industrial production is also witnessing a steep surge in many regions. Thus, the rising number of buildings & residences is increasing the demand for air heating and cooling systems. The growing number of infrastructure projects is raising the demand for air handling units, which in turn leads to the significant growth of the overall air handling units market.

Moreover, the number of people affected with various respiratory diseases is spiraling worldwide at a tremendous rate. Conditions such as asthma and lung disease are poised to grow at unprecedented rates due to the rising levels of air pollution. As such, the awareness among consumers regarding the need for quality air in buildings and houses is escalating. Also, their awareness and inclination towards products with environmental and health benefits are surging compared to products without such benefits. This rise in awareness is creating growth in the adoption of air handling units, resulting in the expansion of the global aid handling units market.

Furthermore, other factors such as the growing production of the air handling units; the ever-increasing global population coupled with rising urbanization; the conversion of warehouses and empty buildings into new commercial and residential spaces for tenants leading to enhanced demand for efficient air conditioning systems; and the existence of fewer rules regarding the air handling units industry in the emerging countries are expected to further bolster the growth of the market during the forecast period.

However, factors such as fluctuation in raw material prices; low availability of air handling units in under-developed regions; the presence of low-quality alternatives for air handling units, the dearth of standardization and awareness regarding the benefits of HVAC systems are expected to hamper the growth of the market to some extent during the forecast period.

Air Handling Units Market Segmentation:

By Type:

·         Packaged

·         Modular

·         Custom

·         DX Integrated

·         Low Profile (Ceiling)

·         Rooftop Mounted

·         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

·         ≥50,001 m3/h

By Application:

·         Commercial

·         Residential

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Based on application, the commercial segment held the largest share of the global air handling units market in 2021. The segment is estimated to continue with its lead and at the same time also grow at the highest growth rate in the market during the forecast period of 2022-2030. The growth of the segment can be attributed to the rapidly proliferating demand of air handling units from the commercial application sectors such as data centers, universities, pharmaceutical & other industries, shopping malls, hospitals, and laboratories.

Based on type, the packaged segment dominated the global air handling units market in 2021. The segment is predicted to retain its dominance further in the market during the forecast period. The segment's large share and growth can be predominantly attributed to the rising demand of packaged air handling units from various commercial application segments. However, the custom segment is estimated to witness the highest growth in the market during the forecast period.

Based on capacity, the ≤5,000 m3/h segment captured the largest share of the global air handling units market in 2021. This trend is projected to continue throughout the forecast period. The soaring demand for this capacity air handling units from both residential and commercial application segments is the major factor estimated to drive the growth of this particular segment over the forecast period. However, the 15,001 - 30,000 m3/h segment is predicted to attain the highest growth in the market during the forecast period.

Regional Outlook:

The Asia Pacific region commanded the global air handling units market in 2021. The region is likely to remain dominant throughout the forecast period of 2022-2030 and register the highest CAGR in the market during the same period. The surging disposable incomes of people resulting in the growing demand for comfortable living conditions; the increasing construction activities; frequent climatic changes; the escalating demand for air handling units from the rapidly expanding industrial sector; the rising urbanization and commercialization in emerging nations; and the burgeoning investments across several sectors in the region are primarily attributed to the large share and growth of the market in the Asia Pacific region. India, Japan, China, Australia, Thailand, Indonesia, and Taiwan are the major contributors to the growth of the market in the region.

The North American region held the second position in the global air handling units market in 2021. The region is expected to further witness robust growth in the market during the forecast period. The growth of the market in the region can be attributed to the high production rate of air handling units, the presence of key market players, and the increasing initiatives by the governments for the adoption of energy-efficient systems in the region. The U.S. and Canada stand as the major contributors to the growth of the market in the region.

The European region accounted for the third-largest spot of the global air handling units market in 2021.  This trend is slated to continue over the forecast period of 2022-2030, with the region projected to grow on account of the soaring demand for air units due to the growing awareness regarding quality air in the region.

Key Companies in Air Handling Units Market:

·         Trane Technologies plc

·         Johnson Controls International plc

·         Systemair AB

·         Flakt Woods GroupDaikin Industries Ltd.

·         Carrier Corporation

·         Trox GmbH

·         Lennox International Inc.

·         Munters AB

·         Blue Star Limited

·         Airedale International Air Conditioning Ltd.

·         G.I. Holding Group

·         Other Players