HVAC Air Duct Market Size, Share and Global Industry to Grow at a CAGR of 4.1% to reach US$ 17,502.6 million from 2021 to 2028

Rising Adoption of Green Building Technology to Provide Growth Opportunities for HVAC Air Duct Market during 2021–2028

The COVID-19 pandemic has been affecting most businesses across the globe. The continuous growth in the count of virus-infected patients compelled government authorities of various countries to restrict the movements of humans, goods, and commodities by imposing travel restrictions, mass lockdowns, and business shutdowns. The imposition of lockdown has resulted in the lesser production of commodities and goods and lowered the frequency of service offerings. Manufacturing, automotive, semiconductor & electronics, oil & gas, aviation, mining, and other industries have witnessed a notable decline in their revenues due to the temporary shutdown of operations.

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According to our latest market study on “HVAC Air Duct Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, and Geography,” the market is expected to grow from US$ 13,213.7 million in 2021 to US$ 17,502.6 million by 2028; it is estimated to grow at a CAGR of 4.1% from 2021 to 2028.

The global HVAC air ducts market is segmented into five major regions— North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. In 2020, Asia Pacific led the market with a substantial revenue share, followed by Europe and North America. Green buildings offer many economic or financial benefits, which are relevant to a range of different people or groups of people.

The building sector has the largest potential to significantly reduce greenhouse gas emissions than other major emitting sectors. The emissions savings potential is said to be as much as 84 gigatonnes of CO2 (GtCO2) by 2050, through direct measures in buildings such as energy efficiency, fuel switching, and the use of renewable energy.

Over the past few years, the world has been continuously witnessing growth in the number of green buildings across sectors such as residential, commercial, and industrial buildings. For example, Green buildings achieving the Green Star certification in Australia produce 62% less greenhouse gas emissions than average Australian buildings. Green buildings certified by the Indian Green Building Council (IGBC) save 40–50% energy and 20–30% water, compared to conventional buildings in India.

Green buildings achieving the Green Star certification in South Africa save 30–40% energy and save 20–30% potable water every year when compared to the industry norm. Moreover, according to a US Green Building Council (USGBC) report, the count of green buildings [LEED (Leadership in Energy and Environmental Design)-certified] surpassed 400,000 units in the US.

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Impact of COVID-19 Pandemic on HVAC Air Duct Market

The COVID-19 pandemic has been affecting most businesses across the globe. The continuous growth in the count of virus-infected patients compelled government authorities of various countries to restrict the movements of humans, goods, and commodities by imposing travel restrictions, mass lockdowns, and business shutdowns.

The imposition of lockdown has resulted in the lesser production of commodities and goods and lowered the frequency of service offerings. Manufacturing, automotive, semiconductor & electronics, oil & gas, aviation, mining, and other industries have witnessed a notable decline in their revenues due to the temporary shutdown of operations. In the first quarter of 2020, after the imposition of nationwide lockdown in most of the nations, many industrial sectors came to a standstill.

HVAC air duct is extensively used in laboratories and in various industries such as pharmaceutical, food, electronic & semiconductors, and manufacturing industry. Demand for HVAC air ducts at various small & medium enterprises was also affected negatively. However, after the situation comes to normalcy, the HVAC air ducts market is expected to grow remarkably across the world during the forecast period.

The List of Companies - HVAC Air Duct Market

TIN MAN SHEET METAL FABRICATION, LLC; Hennemuth Metal Fabricators; Waves Aircon Pvt. Ltd.; DuctSox; Lindab; TurnKey Duct Systems; M&M Manufacturing; SetDuct; US Duct; and V.K. STEEL are among the major companies operating in the HVAC air ducts market.

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Reason to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global HVAC Air Duct market.

Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.

The key findings and recommendations highlight crucial progressive industry trends in the HVAC Air Duct market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue. 

Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.

Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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