Variable Air Volume (VAV) Systems Market Graph, Global Size, Key Segments, Applications, and Regional Growth

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Variable Air Volume (VAV) Systems Market Graph, Global Size, Key Segments, Applications, and Regional Growth

February 12
20:34 2024
Variable Air Volume (VAV) Systems Market Graph, Global Size, Key Segments, Applications, and Regional Growth
Browse 84 market data Tables and 52 Figures spread through 157 Pages and in-depth TOC on “Variable Air Volume (VAV) Systems Market”
Variable Air Volume (VAV) Systems Market by Type (Single-duct VAV, Dual-duct VAV, Induction VAV, Fan-powered VAV), Application (Commercial building, Industrial building, Residential building), and Region – Global Forecast

The report Variable Air Volume (VAV) Systems Market by Type (Single-duct VAV, Dual-duct VAV, Induction VAV, Fan-powered VAV), Application (Commercial building, Industrial building, Residential building), and Region – Global Forecast to 2024″ The variable air volume (VAV) systems market is expected to grow from USD 11.8 billion in 2019 to USD 16.0 billion by 2024, at a CAGR of 6.3 % during the forecast period. The major factors driving the variable air volume (VAV) systems market include increasing construction activities, globally and rising awareness for reducing energy consumption.

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Single-duct VAV to dominate the global Variable Air Volume (VAV) Systems market during the forecast period

The variable air volume (VAV) Systems market has been segmented based on types into single-duct VAV, dual-duct VAV, induction VAV, and fan-powered VAV. Among these types, the single-duct VAV segment accounted for the largest share of the market in 2018 and is likely to witness significant growth over the forecast period. The growth in this segment is attributed to its increasing in various application such as offices, gymnasiums, cafeterias, lecture halls, auditoriums, large meeting rooms, churches, and arenas since it ensures reduced energy consumption, thereby contributing to the global need for energy efficiency.

These factors are expected to drive demand during the forecast period.

Commercial building application is expected to grow at the highest CAGR in the global variable air volume (VAV) systems market during the forecast period

Commercial building application is growing rapidly owing to the rising demand for VAV systems installations in offices, hospitals, retail, warehouse and others due to the zonal effect of temperature control by the VAV systems in such places. Furthermore, the use of VAV systems in commercial buildings is defined majorly by their cost-effectiveness, energy-efficient nature, and the ability to control the humidity of an occupied space. These factors are expected to drive the demand for variable air volume (VAV) systems in commercial building application.

North America is expected to hold the largest market size in the global market during the forecast period

North America is estimated to be the leading variable air volume (VAV) systems market during the forecast period. The growth in the North American region can be attributed to the rising demand for VAV systems due to industrial growth, huge customer base, and high infrastructure spending.  The presence of a robust industrial base, favorable government policies, and the presence of leading VAV system manufacturers are further strengthening the variable air volume (VAV) systems market in North America.

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Ingersoll Rand (Ireland), Honeywell International Ltd (US), United Technologies Corporation (US), Daikin Industries Ltd. (Japan), Johnson Controls (US), Siemens (Germany), Emerson Electric Co (US), TROX (Germany), DAIKIN INDUSTRIES, Ltd., (Japan), KMC Controls (US), and Barcol Air Ltd. (Switzerland), among others are the leading Variable Air Volume (VAV) Systems manufacturers, globally. These companies adopted new product development, joint venture, and merger or acquisition as their strategies between January 2015 and August 2018 to earn a competitive advantage in the Variable Air Volume (VAV) Systems market.

Johnson Controls (US) is one of the leading players in the Variable Air Volume (VAV) Systems market. The company has been focusing on both organic and inorganic strategies to maintain its leading position in the market. For example, In April 2019, Johnson Controls-Hitachi Air Conditioning, India launched its latest range of energy-efficient and expandable Inverter AC solutions. With the launch of this product, the organization aims to bring about a revolution in Indian AC industry and to become Indias leading HVAC brand.

Ingersoll Rand (Ireland) is another major player in the Variable Air Volume (VAV) Systems market. In February 2017, the company planned to acquire the business of Thermocold Costruzioni S.r.l (Italy), a manufacturer and distributor of heating, ventilating and air-conditioning (HVAC) systems and solutions. This acquisition will further strengthen its position in the global HVAC and VAV market.

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