Business Update 2021: HVAC Ducts Market is expected to reach USD 5.2 billion in 2026

The global HVAC ducts market was valued at USD 3.9 billion in 2018 and is expected to reach USD 5.2 billion in 2026, growing at a CAGR of 6.1% during the forecast period.

Increasing demand of HVAC equipment, growing consciousness of energy conservation and increasing construction activities are the main growth factors for the global HVAC ducts market.

The growing consciousness of energy conservation will drive the growth of the global HVAC ducts market throughout the forecast period. Owing to the increasing need for energy conservation, the HVAC ducts system demand will increase in the global market as it works as a thermal barrier between outdoor temperature and indoor temperature of the building. So, government agencies and construction owners around the world are increasingly adopting HVAC ducts system to optimize the consumption of energy. Furthermore, Manufacturers are increasingly using insulated products such as fiberglass duct boards and flexible ducts because they require low capital and are resistant to molds when they are manufactured and installed.

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Increasing consumer spending on green buildings for efficient ventilation will drive the growth of HVAC ducts in the global market. In addition, superior properties, including high quality, enhanced efficiency, health & financial benefits, along with decreased environmental effect, will considerably drive the share of the industry. The increasing preference of eco-friendly technology to ensure building codes and standards with the existing distribution network will boost the demand for HVAC ducts in the global market. Strict energy conservation laws, especially in the construction industry, will promote product demand. Additionally, numerous accreditations, including the accreditation of Leadership in Energy and Environmental Design (LEED) and the designation of Energy Star, are anticipated to drive the growth of the HVAC ducts market.

In the global market, the industry’s capital-intensive nature and the high prices of HVAC ducts equipment is expected to hamper the growth of the market during the forecast period.

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Key Findings:

Based on the type, the sheet metal segment is predicted to grow at the fastest rate of CAGR at a 7.9% during the forecast period.
Based on the application, the commercial building segment is expected to lead the global market with 63% share in 2018
Asia Pacific is expected to hold 42% market share in the global HVAC ducts market in 2018
Recent News:

In November 2017, Khansaheb has acquired an exclusive license to manufacture Spiralite in the UAE. The product launched in DWTC at The Big 5 is an Energy Efficient Ductwork system that reduces the carbon footprint of any domestic, commercial or industrial building.
In August 2016, Primex launches new product series of Surface Mount Wall Vents. The new series of wall vents is available through authorized Primex distribution partners in Canada and the United States.

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This release was published on openPR.