The global VAV BOX market size is estimated at USD 4.7 billion
in 2019 and is projected to reach USD 6.4 billion by 2024, at a CAGR of 6.3%,
between 2019 and 2024.
The growing need for energy efficient and cost effective
systems in commercial and industrial buildings has led to the demand for VAV systems
and VAV box. The development of the global construction industry is also
expected to affect the HVAC market which in turn will accelerate the demand of
VAV systems and VAV box.
Further, other benefits of VAV box such as its availability in different
variants as per the requirements of temperature, pressure, and space makes it
highly preferred and ideal to be used in commercial spaces
Based on type, the VAV box market is segmented into Single-Duct VAV,
Dual-Duct VAV, Induction VAV and Fan-Powered VAV. Single-Duct VAV is expected
to be the largest as well as the fastest-growing type of the VAV box market.
Single duct VAV box or terminal units are used to maintain the zone temperature
by controlling the volumetric flow of the supply air.
Single duct VAVs are ideal for use in cooling only zones with
no heating requirement during occupied hours. The huge consumption of single
duct VAV in commercial space, including offices, malls, and conference rooms,
is expected to drive its demand during the forecast period.
Commercial building is projected to be the fastest-growing
application of VAV box during the forecast period.
Commercial building is projected to be the fastest-growing
application of VAV box during the forecast period. The usage VAV box with a VAV
system ensure the energy efficiency of the overall system. VAV systems are used
in almost every commercial building, including mega structures, conventions
centers, shopping malls, and others. Offices, hospitality, warehouse, and
retail are the major users of VAV systems in the commercial building segment.
Thus, the expected growth of these sectors within commercial building will
drive the VAV box market during the forecast period.
North America is
estimated to be the largest VAV box market during the forecast period.
North America is projected to be the largest VAV box market
during the forecast period. Increasing construction spending in private and
public sectors across the North American region is expected to boost the demand
for HVAC systems, thus driving the market for VAV box. The major private and
public sectors which are witnessing growth in construction activities are
residential building, offices, production facilities, and others. The presence
of major VAV system manufacturers such as United Technologies Corporation (US),
Johnson Controls (US), and Honeywell International Ltd. (US) is also expected
to drive the VAV box market in the region.
Speak to Analyst At https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=73066784
Ingersoll
Rand PLC (Ireland), Johnson Controls (US), TROX GmbH (Germany), Spectrum
Industries (India), United Technologies Corporation (US), Honeywell
International Inc. (US), Daikin Industries, Ltd. (Japan), Siemens AG (Germany),
Systemair AB (Sweden), Barcol-Air (Switzerland) are the major players in the
VAV box market.
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