Variable Air Volume Box Markets to 2024 - Increasing Global Construction Activities Prompts Massive Opportunities

/EIN News/ -- Dublin, Sept. 17, 2019 (GLOBE NEWSWIRE) -- The "Variable Air Volume Box Market by Type (Single-Duct VAV, Dual-Duct VAV, Induction VAV, Fan-Powered VAV (Series Powered, Parallel Powered)), Application (Residential Building, Industrial Building, Commercial Building), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The VAV BOX Market Size is Estimated to be USD 4.7 Billion in 2019 and is Projected to Reach USD 6.4 Billion by 2024, at a CAGR of 6.3%.

The key companies profiled in this report on the VAV BOX market include 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).

The growth in VAV BOX demand is increasing due to the growing construction industry, especially commercial and industrial construction in developing countries due to rapid economic development

The growth of the global construction industry is expected to boost the HVAC market, which in turn will drive the demand for VAV systems and VAV boxes. According to the Oxford Economics, the construction output will grow by 85% to reach USD 15.5 trillion by 2030 globally, with three countries - China, US, and India accounting for 57% of the global growth of the construction sector. Thus, the expected increase in the market size of HVAC will drive the VAV system's and VAV box's market.

Furthermore, the increasing need for energy conservation in buildings from the commercial and industrial sector will escalate the demand for energy-efficient and cost-effective heating and cooling solutions, which is another driving factor for the market. However, the presence of substitute technologies and increased preference of refurbished VAV boxes are expected to restrain the growth of the VAV box market globally.

Single-Duct VAV is the fastest-growing segment of VAV BOX

Single-duct VAV was the largest as well as the fastest-growing segment of the VAV box market globally in 2018. The huge consumption of single-duct VAV systems in commercial buildings due to its various advantages such as low sound level operation, cost-effectiveness, and efficiency in maintaining the optimum temperature in different climatic condition are the major factors driving the demand for single-duct VAV.

Commercial building is the largest application of VAV BOX

Commercial building is the largest application of the VAV box. The increasing spending on public and private infrastructure development will contribute to the growth of the VAV box market. The continuous increase in new construction, including manufacturing and office construction, are the major factors leading to the demand of commercial buildings.

APAC is the fastest-growing market for VAV BOX

APAC is projected to register the highest growth rate during the forecast period owing to the presence of developing markets such as China and Japan as well as emerging economies such as India, South Korea, and Indonesia. APAC is one of the prominent construction markets and is expected to grow at a rapid pace in the coming years, with India expected to become a new global hub for construction in the emerging markets, growing almost twice as fast as China. Therefore, due to the strong growth of the construction industry, the region is expected to have a heavy demand for the VAV box during the forecast period.

Research Coverage

The VAV box market has been segmented based on type, application, and region. This report covers the VAV BOX market and forecasts its market size until 2024. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the VAV BOX market. The report also provides insights into the drivers and restraints in the VAV BOX market along with opportunities and challenges. The report also includes profiles of top manufacturers in the VAV BOX market.

Reasons to Buy the Report

• This report segments the VAV BOX market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
• This report is expected to help stakeholders understand the pulse of the VAV BOX market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
• This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the VAV BOX market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product developments, expansions, joint ventures, and mergers & acquisitions.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the VAV Box Market
4.2 VAV Box Market, By Region
4.3 VAV Box Market, Developed vs Developing Economies

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need for Energy Conservation
5.2.1.2 High Demand for HVAC Systems
5.2.1.3 Increase in Requirement for VAV Boxes Owing to Added Benefits
5.2.2 Restraints
5.2.2.1 Presence of Substitute Technologies
5.2.3 Opportunities
5.2.3.1 Increasing Global Construction Activities
5.2.4 Challenges
5.2.4.1 High Product Cost and Installation Charges
5.3 Supply Chain Analysis
5.4 Component Cost Breakup
5.4.1 Component Definition
5.5 Sales Channels
5.6 New Construction vs Retrofit
5.7 Porter's Five Forces Analysis
5.7.1 Bargaining Power of Suppliers
5.7.2 Threat of New Entrants
5.7.3 Threat of Substitutes
5.7.4 Bargaining Power of Buyers
5.7.5 Intensity of Competitive Rivalry
5.8 Macroeconomic Indicators
5.9 Trends and Forecast of GDP at Country Level
5.10 Countries Engaging in More Than 60% Green Projects (2018 and 2021)
5.11 Sectors Having Planned Green Activity Over the Next Three Years
5.12 Construction Contribution to GDP

6 VAV Box Market, By Type
6.1 Introduction
6.2 Single Duct VAV Box
6.2.1 Increasingly Compact Offices has Led to High Demand for Single Duct VAV Box
6.3 Fan-Powered VAV Box
6.3.1 Commercial and Industrial Buildings Toto Drive the Market for Fan-Powered VAV Box
6.3.2 Series Flow Terminals
6.3.3 Parallel Flow Terminals
6.4 Dual Duct VAV Box
6.4.1 Growth in Construction of Hospitals to Drive the Demand of Dual Duct VAV Box
6.5 Induction VAV Box
6.5.1 Demand of Induction VAV Box Driven By Its Ability to Induce Warm Air as Per Requirement

7 VAV Box Market, By Application
7.1 Introduction
7.2 Commercial Building
7.2.1 Commercial Buildings Such as Offices, Hospitality, and Retails to Drive the Demand for VAV Box
7.2.2 Office
7.2.3 Warehouse
7.2.4 Hospitality
7.2.5 Retail
7.2.6 Others
7.3 Industrial Building
7.3.1 Increasing Industrial Construction in APAC to Drive the Demand of VAV Box
7.4 Residential Building
7.4.1 High Number of Residential Properties in MEA Drives the Use of VAV Box in Residential Buildings

8 VAV Box Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 Strong Demand for Residential and Non-Residential Construction to Drive the VAV Box Market
8.2.2 Canada
8.2.2.1 Increasing Demand for Green Buildings to Drive the Country's VAV Box Market
8.2.3 Mexico
8.2.3.1 Increasing Infrastructure Development to Drive the VAV Box Market
8.3 Middle East & Africa
8.3.1 UAE
8.3.1.1 Investment in New Construction Projects to Drive the Demand of VAV Box
8.3.2 Saudi Arabia
8.3.2.1 Growing Residential and Commercial Infrastructure Will Create A Huge Impact on the VAV Box Market
8.3.3 Nigeria
8.3.3.1 Government Efforts on Developing the Country's Infrastructure Will Lead to the Demand for VAV Box
8.3.4 Rest of Middle East & Africa
8.4 APAC
8.4.1 China
8.4.1.1 Growing HVAC Market to Drive the Demand for VAV Box
8.4.2 Japan
8.4.2.1 Increasing Commercial, Industrial, and Hospitality Construction to Drive the VAV Box Market
8.4.3 India
8.4.3.1 The Rapidly Growing Construction Industry is Expected to Drive VAV Box Demand
8.4.4 South Korea
8.4.4.1 Commercial Building is Estimated to Dominate the VAV Box Market South Korea
8.4.5 Indonesia
8.4.5.1 Infrastructure Initiatives By Indonesian Government to Drive the VAV Box Demand in the Country
8.4.6 Rest of APAC
8.5 Europe
8.5.1 Germany
8.5.1.1 Growing Industrial Construction is Expected to Drive the VAV Box Market
8.5.2 UK
8.5.2.1 The Presence of Strong Commercial Real Estate Will Drive the VAV Box Market
8.5.3 France
8.5.3.1 Growing Construction and Hospitality Industry to Drive the VAV Box Market
8.5.4 Russia
8.5.4.1 Growth of Overall Construction Industry Will Drive the VAV Box Market in the Country
8.5.5 Turkey
8.5.5.1 Growth in the Construction of Office Buildings to Drive the VAV Box Market
8.5.6 Rest of Europe
8.6 South America
8.6.1 Brazil
8.6.1.1 Promotion of Energy Efficient Systems in the Country Will Lead to the Demand of VAV Box and Systems
8.6.2 Argentina
8.6.2.1 Increased Government Intervention and Aid of Imf to Promote the Construction Industry in the Country
8.6.3 Rest of South America

9 Competitive Landscape
9.1 Introduction
9.2 Market Ranking of VAV Box Manufacturers
9.3 Competitive Situation & Trends
9.3.1 Expansion
9.3.2 New Product Development
9.3.3 Merger & Acquisition
9.3.4 Joint Venture

10 Company Profiles
10.1 Ingersoll Rand PLC
10.1.1 Business Overview
10.1.2 Products Offered
10.1.3 SWOT Analysis
10.2 Johnson Controls
10.3 TROX GmbH
10.4 Spectrum Industries
10.5 United Technologies Corporation
10.6 Honeywell International Inc.
10.7 Daikin Industries Ltd.
10.8 Siemens AG
10.9 Systemair AB
10.10 Barcol-Air

11 Additional Company Profiles
11.1 Halton Group
11.2 Advanced Air (UK) Ltd.
11.3 Waterloo Air Products PLC
11.4 Air Master Equipments Emirates LLC
11.5 KAD Airconditioning
11.6 EB Air Control Inc.
11.7 Dynacraft Air Controls
11.8 BES-Tech Inc.
11.9 Metal Industries Inc.
11.10 Beyond & Brothers Development Co. Ltd.
11.11 KBE
11.12 Prolon
11.13 Betec Cad
11.14 JCC Cooling

For more information about this report visit https://www.researchandmarkets.com/r/mta269

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