Air Handling Units Market worth $15.9 billion by 2026 | Key players Daikin Industries Ltd., Carrier Corporation, Systemair AB, Flakt Woods Group, Munters AB.

According to recent market research the "Air Handling Units Market by Application (Commercial, Residential), Type (Packaged, Modular, Custom), Capacity (≤5,000 M3/H, 5,001 - 15,000 M3/H, 15,001 - 30,000 M3/H, 30,001 - 50,000 M3/H, ≥ 50,001 M3/H), & Region - Global Forecast to 2026", The global air handling units market is projected to reach USD 15.9 billion by 2026, at a CAGR of 6.5% from 2021 to 2026. Increase in demand of air handling units from the application sectors such as commercial buildings, industries, hospitals, universities, data centers, laboratories, and server rooms are propelling the growth of this market.

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The custom air handling units is estimated to account for the second-largest share of the air handling units' market in 2021 and is projected to be the fastest-growing type segment from 2021 to 2026. The growth is mainly attributed to the rising demand of custom air handling units from the commercial application sectors such as pharmaceutical industries, shopping malls, hospitals, and universities.

The 15,001 - 30,000 m3/h capacity segment is anticipated to grow at the highest CAGR in global air handling units' market from 2021 to 2026. These are medium size air handling units which are used in commercial applications such as hospitals, shopping malls, commercial buildings, data centers, and laboratories. Due to the increasing awareness regarding the impacts of pollution on environment and human health, there is a high rise in the use of air handling units, as air handling units are not only used for cooling and heating purpose, but also for providing fresh air, humidification, and controlling relative humidity. These functions contribute towards the growing demand of 15,001- 30,000 m3/h capacity air handling units.

The commercial segment is estimated to account for the largest share of the global air handling units' market in 2021 and is projected to be the fastest-growing segment from 2021 to 2026. This growth can be attributed to the increased demand for the use of air handling units in the commercial application sectors such as the shopping malls, hospitals, universities, data centers, industries, clean rooms, and server rooms.

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Asia-Pacific is the largest and fastest-growing market for air handling units during the forecast period. This increased demand can be attributed to the growing demand for air handling units from the commercial and residential applications. The air handling unit's markets in countries such as China, India, Japan, South Korea and Thailand are projected to witness growth during the forecast period owing to increased demand for air handling units from various application segments such as electronics, food and beverages processing sector, pharmaceutical, commercial buildings, hospitals, universities, swimming pool, data centers, and residential buildings.

Key players operational in the market include Daikin Industries Ltd. (Japan), Carrier Corporation (US), Trane Technologies plc (Ireland), Johnson Controls International plc (Ireland), Systemair AB (Sweden), Flakt Woods Group (Sweden), Trox GmbH (Germany), Lennox International, Inc. (US), Munters AB (Sweden), and Blue Star Limited (India).

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Daikin Industries, Ltd., in June 2020, established a new company named Baridi Baridi Inc., to conduct an air conditioner subscription business. The joint venture between Daikin Industries, Ltd. and WASSHA Inc. will capitalize on Daikin's air conditioners, which are known for their excellent durability, high efficiency, and low environmental impact, and on the company's capabilities for building service networks.

Johnson Controls International plc, in June 2020, completed the acquisition of Silent-Aire. Silent-Aire specializes in the design, engineering, and manufacturing of mission-critical custom air handlers and modular data centers for hyperscale cloud and colocation providers. Silent-Aire's portfolio of data center solutions allow for rapid deployment of critical infrastructure in flexible configurations, with a focus on quality, scalability, and speed-to-market.

Carrier Corporation, in June 2020, announced the acquisition of a controlling stake of Guangdong Giwee Group (Giwee Group) and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co., Ltd. The acquisition will expand Carrier's access to the rapidly growing variable refrigerant flow (VRF) and light commercial market.

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