Variable Air Volume (VAV) Systems Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2016-2021 and Forecast 2022-2028

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Variable Air Volume (VAV) Systems Market: By Type (Single-Duct VAV System, Dual-Duct VAV System, Induction VAV System and Fan-Powered VAV System), By Application (Commercial Buildings, Industrial Buildings and Residential Buildings) and Geography

 

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Report

Description

Variable Air Volume (VAV) Systems Market size was valued at US$ 11.8 Billion in 2021 and is projected to reach US$ 20.75 Billion by 2028 at a CAGR of 8.4% during the forecast period 2022 to 2028. The report gives a comprehensive outlook across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on gives historical, current, and future market sizes (US$ Mn) on the basis of type, application and region. This report studies global variable air volume (VAV) systems market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global variable air volume (VAV) systems products. Some of the key factors fueling the market growth include increasing awareness for reducing energy consumption, newer modifications in the VAV system, high demand from commercial buildings and industrial buildings, increasing infrastructure investments, rising disposable income and growing construction activities. However, presence of alternative technologies, high installation costs and lack of familiarity are the major factors hindering the market growth. Increasing industrialization and booming construction industry are expected to drive the demand for market in upcoming years. The increasing population and economic conditions in the economies have led to greater housing transaction and more disposable income which have a direct effect on the market. Construction industry is growing rapidly and new technologies have evolved very fast to cater different difficulties in the construction industry. The increasing need for energy conservation in buildings from the commercial and industrial sector will escalate the demand for energy-efficient and cost-effective heating and cooling solutions, which is another driving factor for the market. VAV fan control, especially with modern electronic variable-speed drives, reduces the energy consumed by fans, which can be a substantial part of the total cooling energy requirements of a building. Modulating control of the compressor also reduces wear and delivers further energy savings.

Variable Air Volume (VAV) Systems Market

MARKET SUMMARY
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8.4% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 8.4%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– Europe

Variable Air Volume (VAV) Systems Market Analysis

  • Global variable air volume (VAV) systems market expanding at significant CAGR over 2022 to 2028 due to increasing awareness for reducing energy consumption
  • Based on type, single-duct VAV system segment accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
  • Players focusing on innovation of newer products and collaboration strategies to retain market position in global Variable Air Volume (VAV) Systems market
  • For Instance, In June 2019, Johnson Controls expanded its facilities in East China to enlarge its subsidiary, York (Wuxi) Air Conditioning and Refrigeration Co. Ltd. It will help the company to establish its foothold in APAC.
Market Leaders
  • Johnson Controls
  • Ingersoll Rand Plc
  • DAIKIN INDUSTRIES, Ltd.
  • United Technologies Corporation
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Siemens
  • TROX GmbH
  • KMC Controls
Variable Air Volume (VAV) Systems Market

Drivers and Restraints

Increasing industrialization and booming construction industry are expected to drive the demand for market in upcoming years. The increasing population and economic conditions in the economies have led to a greater housing transaction and more disposable income which have a direct effect on the market. Construction industry is growing rapidly and new technologies have evolved very fast to cater different difficulties in the construction industry. The increasing need for energy conservation in buildings from the commercial and industrial sector will escalate the demand for energy-efficient and cost-effective heating and cooling solutions, which is another driving factor for the market. VAV fan control, especially with modern electronic variable-speed drives, reduces the energy consumed by fans, which can be a substantial part of the total cooling energy requirements of a building. Modulating control of the compressor also reduces wear and delivers further energy savings.


Variable Air Volume (VAV) Systems Market

Asia Pacific dominates the market

Asia Pacific accounted for larger revenue share in global variable air volume (VAV) systems market with considerable CAGR. The growth in this region can be attributed to growing demand in industrial buildings applications and the presence of emerging economies like India and Japan. Also, growing urbanization together with rising population and shift of manufacturing facilities to emerging region are the other factors responsible for the market growth. North America held substantial market growth during the estimated period owing to increasing usage of VAV systems in various end-use applications. U.S is the major contributor for the market growth in the region.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2016-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Variable Air Volume (VAV) Systems Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • Johnson Controls
  • Ingersoll Rand Plc
  • DAIKIN INDUSTRIES, Ltd.
  • United Technologies Corporation
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Siemens
  • TROX GmbH
  • KMC Controls
  • Barcol-Air

Description

Variable Air Volume (VAV) Systems Market size was valued at US$ 11.8 Billion in 2021 and is projected to reach US$ 20.75 Billion by 2028 at a CAGR of 8.4% during the forecast period 2022 to 2028. The report gives a comprehensive outlook across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on gives historical, current, and future market sizes (US$ Mn) on the basis of type, application and region. This report studies global variable air volume (VAV) systems market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global variable air volume (VAV) systems products. Some of the key factors fueling the market growth include increasing awareness for reducing energy consumption, newer modifications in the VAV system, high demand from commercial buildings and industrial buildings, increasing infrastructure investments, rising disposable income and growing construction activities. However, presence of alternative technologies, high installation costs and lack of familiarity are the major factors hindering the market growth. Increasing industrialization and booming construction industry are expected to drive the demand for market in upcoming years. The increasing population and economic conditions in the economies have led to greater housing transaction and more disposable income which have a direct effect on the market. Construction industry is growing rapidly and new technologies have evolved very fast to cater different difficulties in the construction industry. The increasing need for energy conservation in buildings from the commercial and industrial sector will escalate the demand for energy-efficient and cost-effective heating and cooling solutions, which is another driving factor for the market. VAV fan control, especially with modern electronic variable-speed drives, reduces the energy consumed by fans, which can be a substantial part of the total cooling energy requirements of a building. Modulating control of the compressor also reduces wear and delivers further energy savings.

ASIA PACIFIC OFFICE

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EUROPE OFFICE

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