The global air handling units market revenue was around US$ 14.3 billion in 2023 and is estimated to reach US$ 25.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2024 to 2032.
An air handling unit (AHU) is a device utilized to condition and circulate air as a component of ventilation, heating, and air conditioning systems. This handler is generally a large metal box containing heating, blowers, cooling elements, dampers, and silencers. They are connected to ducts to distribute conditioned (cooled or heated) air throughout the building before returning to the AHU.
Market Driving Factors
An increase in population and urbanization globally is predicted to boost the market growth. For instance, according to the World Bank, over 50% of the global population lives in urban areas. This growth in the urban population is contributing to the increasing demand for commercial, residential, and retail buildings. In addition, the growth in the construction of these buildings is predicted to boost the demand for efficient HVAC systems, which include air handling units.
Major players have adopted product introduction and acquisition as a key strategy to sustain the extreme competition and enhance the product portfolio. For instance, in April 2022, Systemair AB acquired Sagicofim S.p.A, which is a leading global supplier with vast experience in air distribution and filtration of handling units. It owns a cutting-edge production facility in Milan itself. The acquisition objective is to increase the sustainability transformation of air handling units. Therefore, such strategic moves are estimated to provide lucrative opportunities in the market.
Air handling units need massive capital investment and maintenance price, which hamper the market growth.
Regional Analysis
Asia Pacific is predicted to dominate the market in terms of the largest shares. This is due to the increasing demand for air handling units from the fast-growing industrial areas in the region. Furthermore, developing countries such as India, China, and Japan are providing huge growth opportunities for the key players in the market. Moreover, the existence of a large customer base across the region is predicted to drive market growth.
North America is estimated to dominate the market in terms of the growth rate. This is owing to the increasing number of initiatives by government authorities for the usage of energy-efficient systems by providing tax benefits and subsidies. Furthermore, the increasing focus on the development of creative air handling units is predicted to propel the market expansion. This development of new creative energy-efficient air handling units is enabling customers to upgrade their old systems. Moreover, the increasing number of infrastructure projects and the surging concern for air quality also benefit the market.
Segmentation Insights
Business Insight
The aftermarket segment is estimated to dominate the market in terms of revenue. This is due to the requirement for spare parts and installation services after buying products. Major players, such as Carrier Corporation, Trane Technologies Plc, and Johnson Controls International Plc offer aftermarket sales services. Moreover, major customers in developing nations, such as Brazil, India, and Africa, are utilizing aftermarket sales services needed for air handlers.
End Users Insight
The residential segment dominates the market in terms of the growth rate. This is primarily due to government initiatives financing residential projects across the world, which boosts the demand for air handling units in residential sectors. Additionally, the increasing trend of single-family homes across Europe and North America increases the demand for the market.
The commercial segment is expected to dominate the market in terms of the largest shares. This growth is due to the surge in the demand for the usage of air handling units in the commercial application sectors. These sectors include universities, hospitals, industries, data centers, and server rooms. Thus, this is estimated to drive the market growth.
Prominent Companies
Segmentation Outline
The global air handling units market segmentation focuses on the Placement, Business, End Users, and Region.
By Placement
By Business
By End Users
By Region
[ TABLE OF CONTENT ]
1 INTRODUCTION OF GLOBAL AIR HANDLING UNITS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: AIR HANDLING UNITS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL AIR HANDLING UNITS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL AIR HANDLING UNITS MARKET, BY PLACEMENT
5.1 OVERVIEW
5.2 OUTDOOR
5.3 INDOOR
6 GLOBAL AIR HANDLING UNITS MARKET, BY BUSINESS
6.1 OVERVIEW
6.2 NEW INSTALLATIONS
6.2.1 VERTICAL
6.2.2 HORIZONTAL
6.3 AFTERMARKET
7 GLOBAL AIR HANDLING UNITS MARKET, BY END USERS
7.1 OVERVIEW
7.2 RESIDENTIAL
7.3 COMMERCIAL
7.4 INDUSTRIAL
8 GLOBAL AIR HANDLING UNITS MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL AIR HANDLING UNITS MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 SWEGON GROUP AB
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 BARKELL LTD
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 HITACHI LTD
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 STULZ GMBH
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 CIAT GROUP
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 VTS GROUP
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 MUNTERS GROUP AB
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 WOLF GMBH
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 TROSTEN INDUSTRIES COMPANY LLC
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 FLAKTGROUP
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 DAIKIN INDUSTRIES LTD
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 LENNOX INTERNATIONAL INC
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 CARRIER GLOBAL CORPORATION
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 HOLTOP
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 SYSTEMAIR AB
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.16 JOHNSONS CONTROLS INTERNATIONAL PLC
10.16.1 OVERVIEW
10.16.2 FINANCIAL PERFORMANCE
10.16.3 PRODUCT OUTLOOK
10.16.4 KEY DEVELOPMENTS
10.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.17 BLUE STAR LIMITED
10.17.1 OVERVIEW
10.17.2 FINANCIAL PERFORMANCE
10.17.3 PRODUCT OUTLOOK
10.17.4 KEY DEVELOPMENTS
10.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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