Press release
Air Duct Market Opportunity Analysis and Industry Forecast 2031 | To Reach $22.7 Bn
Air Duct Market
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Drivers, restraints, and opportunities
Rise in customer awareness pertaining to power conservation, enhanced thermal comfort, and energy efficiency to drive the growth of the global air duct market. Furthermore, huge applications of aluminum ducts in kitchen chimney ventilation will boost market trends across the globe. Apart from this, air duct offer high insulation and flexibility and hence are popular in residential and commercial constructions. This, in turn, has created new growth opportunities for the global market. Nevertheless, the massive acceptance of ductless devices has posed a threat to the growth of the global industry.
Covid-19 scenario:
• During the COVID-19 pandemic, a large number of manufacturers of air ducts halted their business in China, India, and the U.S. This, in turn, massively impacted the sale of air ducts firms, thereby hindering the growth of the global air duct market.
• Lack of availability of workforce and raw material supply obstructed the supply of air ducts, thereby hindering the growth of the global market.
• Reopening of manufacturing units and launching of vaccines for COVID-19 are projected to boost the growth of the global market post-COVID-19 pandemic.
The metallic segment to dominate the global market in terms of revenue in 2031
Based on the material, the metallic segment is set to contribute the highest market share in 2021, accounting for fourth-fifths of the global air duct market share. Furthermore, the segment is projected to contribute majorly toward the global market share during the forecast period. The growth of the segment over the forecast timeframe can be attributed to the rise in the construction of commercial and residential buildings across the globe and the massive use of metallic material for its construction. However, the non-metallic segment is slated to register the highest CAGR of 5.7% during the forecast timespan. The segmental growth over the forecast timeline can be credited to beneficial features of the non-metallic material such as thermal insulation, excellent sound absorption, fire resistance, and rigidity.
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The new installation segment to hold the major market share over 2022-2031
On basis of installation type, the new installation segment contributed to the highest market share in 2021, accounting for nearly three-fifths of the global air duct market share. Furthermore, the same segment is anticipated to dominate the market growth over the forecast period. The growth of the segment over the forecast timeline can be attributed to the rampantly growing population and rapid urbanization across the globe. However, the retrofits segment is predicted to record the fastest CAGR of 4.9% over the forecast period. The growth of the segment over the forecast timeline can be due to the huge application of HVAC equipment in the food processing and pharmaceutical sectors leading to wear and tear of the equipment and generating the requirement for retrofitting.
The commercial segment to dominate the global market by 2031
In terms of the end-user industry, the commercial segment contributed to the highest market share in 2021, accounting for more than two-fifths of the global air duct market share. Moreover, the same segment is set to make notable contributions toward the global market share in 2031. The segmental growth over 2022-2031 can be attributed to rise in the construction of new official buildings, railway stations, and commercial complexes. However, the residential segment is predicted to register the fastest CAGR of 5.4% during the forecast timeline. The segmental growth over the forecast timeframe can be attributed to the rise in the disposal income of the global population.
Asia-Pacific to retain global market domination over 2022-2031
By Region, Asia-Pacific contributed notably toward the global air duct market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for nearly half of the global air duct market share in 2021. The growth of the market in the region over the forecast timespan can be credited to the increase in industrialization and swift urbanization in countries such as China, India, Vietnam, and Indonesia paving way for a huge demand for construction activities.
However, the LAMEA air duct market is set to record the highest CAGR of 5.9% during 2022-2031. The growth of the regional market over the forecast period can be credited to the prominent demand for air ducts across the residential and commercial sectors.
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Major market players
• Aldes Group
• Belimo Holding AG
• Breffni Air Ltd
• Carrier Global Corporation
• Centuri Mechanical Systems
• Danfoss
• DMI Companies
• Fabric Air
• Hennemuth Metal Fabricators
• Honeywell International Inc.
• Imperia Manufacturing Group
• Pinnacle ductwork
• Schneider Electric
• Siemens AG
• Thermaduct
• Thermaflex
• Zinger Sheet Metal Co.
The report analyzes these key players in the global air duct market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.
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