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According to Technavio's analyst, the HVAC terminal units market size is expected to be valued at USD 1.41 billion by 2026 with a progressing CAGR of 5.05%.
This HVAC terminal units market research report extensively covers the HVAC terminal units market segmentation by the following:
The HVAC terminal units market vendors are - Carnes Co., Carrier Global Corp., Celmec International Pty Ltd., Daikin Industries Ltd., Greenheck Fan Corp., HTS, Johnson Controls International Plc, Nailor Industries Inc., Oy Halton Group Ltd., Price Industries Inc., Warren Technology Inc., and Wozair Ltd. among others.
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The increase in construction activities is notably driving the HVAC terminal units market growth, although factors such as fluctuations in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the HVAC terminal units industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key HVAC Terminal Units Market Driver
One of the key factors driving growth in the HVAC terminal units market is the increase in construction activities. The number of new constructions in several developed and emerging countries is on the rise after a prolonged period of depression in the global construction market. Countries such as China, India, Saudi Arabia, UAE, Malaysia and Indonesia are witnessing an increase in income and rapid urbanization. The shifting of population from rural to urban areas will require significant investments in new housing and public infrastructure, which is expected to offer a major opportunity for growth for the HVAC terminal units market; the respective governments are taking initiatives to ensure a fast-paced development of infrastructure. HVAC terminal units are being deployed in public buildings.
Key HVAC Terminal Units Market Trend
The emergence of net zero energy buildings is a HVAC terminal units market trend that is expected to have a positive impact in the coming years. Net zero energy buildings are energy-efficient buildings that use, over the course of a year, renewable technology to produce as much energy as they consume from the grid. However, currently, only a few buildings qualify as net zero energy buildings. However, owing to factors such as the emergence of advanced 3D Energy and Daylight modelling; increased government initiatives such as WGBC, EEB, and NBI to create awareness regarding the benefits of going green; and improvements in construction technology, building controls, and renewable energy systems, the design and construction of Net-Zero Energy buildings has become more practical. With the emergence of green buildings, the HVAC market will witness significant growth with the deployment of HVAC terminal units in these buildings. Commercial buildings, being one of the largest energy consumers, the HVAC system plays a vital role in helping designers to meet their net-zero-energy goals.
Key HVAC Terminal Units Market Challenge
The fluctuations in raw material prices will be a major challenge for the HVAC terminal units market during the forecast period. Instability in raw material prices affects the construction of HVAC terminal units. Stainless steel and copper are the primary raw materials for terminal units and any fluctuation in prices of these materials has a direct impact on manufacturing costs. Factors that influence the cost of raw materials include inflation, production, and availability. A steep rise in steel prices is expected to be witnessed during 2018-2020. Most of the prominent vendors seek long-term contracts with their suppliers to stay immune to fluctuations in raw material prices. However, this strategy may not be feasible for small vendors that lack sufficient financial resources. Thus, fluctuations in raw material prices may affect the manufacturing cost of terminal units, thereby having a negative impact on the global HVAC terminal units market.
This HVAC terminal units market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global heating, ventilation, and air conditioning (HVAC) terminal units market as a part of the global electrical components and equipment market within the global electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the HVAC terminal units market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the HVAC terminal units market encompasses successful business strategies deployed by the key vendors. The HVAC terminal units market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.
carnes.com - The company offers HVAC terminal unit products such as electronic controls, pneumatic controls, tri-averaging flow sensors and direct digital simplyVAV.
carnes.com - Under the unified segment, the company offers air distribution products, terminal units, ventilation products, louvers and dampers and humidifiers.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The HVAC terminal units market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the HVAC terminal units market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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51% of the market's growth will originate from APAC during the forecast period. China, South Korea, and Japan are the key markets for HVAC terminal units in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increase in infrastructure spending in commercial projects will facilitate the HVAC terminal units market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The market in APAC witnessed certain challenges due to the outbreak of COVID-19 in 2020. The outbreak affected the economies of many countries in the region, such as China, India, South Korea, and Japan. However, the deployment of HVAC system increased in residential sector due to the adoption of work from home (WFH) module, thus positively impacting the regional market.
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The HVAC terminal units market share growth by the single duct segment will be significant during the forecast period. The single duct HVAC terminal units segment dominates the global market because of widespread adoption in the HVAC industry owing to the cost advantage and ease of installation. The global single duct HVAC terminal units market is expected to record considerable growth during the forecast period. Factors such as the growth in the HVAC systems market, the need for compliance with energy efficiency regulations, and the increased investments in the construction industry are expected to drive the growth of the global HVAC terminal units market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the HVAC terminal units market size and actionable market insights on post COVID-19 impact on each segment.
HVAC Terminal Units Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.05% |
Market growth 2022-2026 |
$ 1.41 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.54 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 51% |
Key consumer countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Carnes Co., Carrier Global Corp., Celmec International Pty Ltd., Daikin Industries Ltd., Greenheck Fan Corp., HTS, Johnson Controls International Plc, Nailor Industries Inc., Oy Halton Group Ltd., Price Industries Inc., Warren Technology Inc., and Wozair Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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