Total sales in the global variable air volume system market are projected to reach a valuation of nearly US$ 12 Bn in 2022. Rising adoption of these systems in commercial and residential buildings is expected to drive demand at a 7% CAGR, with the market size surpassing US$ 15.5 Bn by 2032.
Rapid urbanization and infrastructural developments across the globe are expected to drive the variable air volume system market. Growing concerns regarding sustainability and energy consumption in residential and commercial sectors are further pushing sales in the market.
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The ongoing expansion of the healthcare and retail sector in countries in Middle East and Africa is expected to boost the adoption of variable air volume systems. Increasing development of commercial projects such as universities, shopping malls and hospitals in various countries in Middle East and Africa will augment the growth in the market.
Variable air volume systems have various advantages over constant air volume systems such as low energy consumption, reduced compressor wear, precise temperature control, less fan noise, and increased dehumidification.
These systems are being adopted in the food processing and packaging sectors where temperature control is required to maintain the quality of products. As these systems reduce energy consumption, demand is expected to remain high over the forecast period.
What are the Opportunities in the Variable Air Volume System Market?
Stringent regulations regarding sustainability and energy consumption in various countries are expected to create opportunities for growth in the market. In addition to this, rising investments in the development of infrastructural projects across the globe will boost the market in the forthcoming years.
Surging demand for single-zone variable air volume systems is projected to gain traction over the forecast period. These systems offer higher energy efficiency, less fan noise, and better dehumidification. The design of these systems is compact, which makes them easier to install and manage.
Further, increasing preference for centralized cooling systems in public places such as auditoriums, theatres, hotels, restaurants, malls, and supermarkets are pushing sales in the market. As per FMI, this trend is expected to continue over the forecast period.
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What are the Challenges in the Variable Air Volume System Market?
Complexity in the design of high volume variable air volume systems involves high capital investments, which is hindering the growth in the market. Providing adequate temperature control in multiple zones with different climatic conditions acts as a challenge in these systems.
Further, the installation of multiple ducts is a cumbersome process and requires extra fitting and redesigning in commercial spaces. This might negatively impact sales of variable air volume systems in the forthcoming years.
Why is the Asia Pacific Variable Air Volume System Market Considered Lucrative?
As per FMI, Asia Pacific variable air volume system market is projected to account for the maximum share in the global variable air volume systems market over the forecast period. Rapid industrialization in countries such as China, India, and South Korea is expected to bode well for the market.
Increasing establishment of commercial projects such as shopping malls, theatres, auditoriums, universities, hospitals, and offices will continue driving the adoption of variable air volume systems, thereby augmenting the growth in the market.
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What will be the Demand Outlook in the North America Variable Air Volume System Market?
Sales in the North America variable air volume system market are anticipated to gain momentum in the forthcoming years due to growing preference for centralized cooling in residential and commercial spaces.
In addition to this, stringent regulations regarding energy consumption in the U.S. are compelling consumers and manufacturers to adopt single-zone variable air volume systems. These systems consume less energy and offer effective cooling in residential and commercial spaces. Driven by this, sales are expected to gain momentum over the forecast period.
Market Competition
Schneider Electric, Vemco Inc., KMC Controls, Honeywell International Inc., Emerson Climate Technologies, Trane Inc., and Johnson Controls are some of the leading players operating in the global variable air volume system market.