HVAC Air Handling Units Market Size
Heating, Ventilation, and Air Conditioning (HVAC) Air Handling Units (AHU) Market was valued at around USD 65.3 billion in 2023 and is estimated to register a CAGR of around 4.4% between 2024 and 2032.
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The growing demand for HVAC air handling units is attributed to the rising construction of new residential buildings such as single-family homes, multi-family housing complexes, condominiums, and apartment buildings. HVAC air handling units are crucial parts of home HVAC systems as they enhance Indoor Air Quality (IAQ), comfort levels, and the circulation of conditioned air. According to the Residential Energy Consumption Survey 2020, Nearly 90% of U.S. homes used air conditioning, in turn, fueling market demand.
HVAC Air Handling Units Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2023 |
| HVAC Air Handling Units Market Size in 2023 |
USD 65.3 Billion |
| Forecast Period |
2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR |
4.4% |
| 2032 Value Projection |
USD 95.7 Billion |
| Historical Data for |
2021 - 2023 |
| No. of Pages |
310 |
| Tables, Charts & Figures |
365 |
| Segments covered |
Component Type, Capacity, Application, Distribution Channel, Region |
| Growth Drivers |
- Increasing infrastructure projects
- Rapidly growing hospitality sector across the globe
- Growing awareness about Indoor Air Quality (IAQ)
|
| Pitfalls & Challenges |
- High initial investment costs
|
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The design and installation of HVAC air handling units has become more complicated and expensive due to compliance with changing building regulations, energy efficiency standards, and regulatory requirements. Further, HVAC air handling units installation, which includes AHU installation, can have substantial up-front costs will hamper business growth.
HVAC Air Handling Units Market Trends
Smart air handling units provide remote HVAC system monitoring and control through the use of web-based platforms, tablets, and smartphones. Remote access increases convenience and flexibility by enabling users to modify fan speeds, temperature settings, and scheduling from any location with an internet connection. For instance, Trane Technologies plc provides Trane's ComfortLink II communication technology, which facilitates the creation of web-based platforms and mobile apps for remote monitoring, scheduling, and diagnostics of AHUs and other HVAC equipment, driving market growth.
HVAC Air Handling Units Market Analysis
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In 2023, air filters brought in a whopping $18.9 billion in sales. And get thisexperts predict that by 2032, that number will soar to a staggering $29.6 billion. Why the sudden surge? Well, people are finally waking up to how important clean air is in their homes, schools, and workplaces. Filters are what keep the air we breathe free from nasty stuff like dust, pollen, and germs. And with more and more buildings being built to be energy-efficient, the demand for quality air filters is only going to keep growing. Green building programs like LEED and WELL are putting a big emphasis on air quality, and they're making sure that buildings use top-notch air filters in their heating and cooling systems.
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Imagine a workplace where employees feel comfortable and healthy. HVAC air handling units make this possible by keeping the air clean, cool, and fresh. That's why nearly half of the market for these units goes to businesses. And by 2032, that share is expected to grow to over half. The reason is simplebusinesses are increasingly prioritizing the well-being of their employees. They know that a comfortable environment boosts productivity and reduces sick days. So, they're investing in HVAC air handling units that not only regulate temperature but also improve air quality. This helps to prevent respiratory problems, allergies, and even headaches. In short, these units create a healthier, happier workplace for everyone.
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Hey there! Guess what? The Asia Pacific region is ruling the world in the HVAC air handling units market, with a whopping 43% share in 2023. And hold onto your hats, because it's projected to break the bank with a value of over USD 42.4 billion by 2032! So, what's the secret behind this HVAC air handling unit frenzy in Asia Pacific? Well, it's all about the booming commercial and industrial sectors, like manufacturing, hotels, retail stores, hospitals, schools, and even IT hubs. These places need to keep their temperatures just right, you know? Not only that, businesses and other spaces like data centers, cleanrooms, hospitals, and labs are all clamoring for ways to cool down, keep the air fresh, and get rid of germs. And guess what? HVAC air handling units are the perfect solution, with all the bells and whistles they need to get the job done.
Country-level Analysis
The U.S. dominated the North America HVAC air handling units market with revenue of over USD 13.5 billion in 2023 and is expected to grow at a CAGR of 4.5% through 2032. Programs, such as efficiency STAR certification, tax incentives, utility rebates, and building efficiency codes, encourage the use of high-performance air handling units with advanced controls, variable-speed drives, and energy recovery technology.
Germany dominated the Europe HVAC air handling units market with revenue of around USD 3.3 billion in 2023 and is likely to register at a CAGR of 4.7% from 2024 to 2032, due to the construction of commercial projects including office buildings, retail centers, hotels, and healthcare facilities, as well as residential projects comprising single-family & multi-family homes and condominiums.
China dominated the Asia Pacific HVAC air handling units market with revenue of around USD 9.3 billion in 2023 and is expected to reach around USD 14.7 billion by 2032. The demand for HVAC systems and air handling units is boosted by the Chinese government's investments in sustainable construction initiatives, urban regeneration projects, and infrastructure development. In addition, energy-efficient HVAC solutions are becoming increasingly popular in China owing to government initiatives, such as the "Green Buildings Program" and the "Thirteenth Five-Year Plan," which support green building practices, energy efficiency, and environmental sustainability.
HVAC Air Handling Units Market Share
The HVAC air handling units industry is fragmented, with several regional companies operating on a global scale. In 2023, the Carrier Corporation, Daikin Industries, LG Electronics, Toshiba Corporation, and Trane Technologies led the market. To expand their customer base, broaden their product offerings, and establish a stronger foothold in the market, these corporations strategically deploy mergers, acquisitions, partnerships, and facility expansions. They also leverage their vast distribution networks and resources to investigate new markets.
HVAC Air Handling Units Market Companies
Major players operating in the HVAC air handling units industry are
- Airedale International Air Conditioning Ltd.
- Carrier Global Corporation
- Daikin Applied Americas
- Daikin Industries, Ltd.
- Johnson Controls International plc
- Lennox International Inc.
- LG Electronics Inc.
- Mitsubishi Electric Corporation
- Munters Group AB
- Rheem Manufacturing Company
- Systemair AB
- Titus HVAC
- Toshiba Corporation
- Trane Technologies plc
- York International Corporation
HVAC Air Handling Units Industry News
- In May 2023, Trane Technologies acquired MTA S.p.A (MTA), a leading industrial process cooling technology business, which brought complementary, high-performing solutions to Trane’s comprehensive Commercial HVAC product and services portfolio
- In February 2022, Carrier Corporation entered into a binding agreement to acquire a majority ownership in Toshiba Carrier Corporation (TCC), a Variable Refrigerant Flow (VRF) and light commercial HVAC joint venture between Carrier and Toshiba Corporation. TCC designs and manufactures flexible, energy-efficient, and high-performance VRF and light commercial HVAC systems along with commercial products, compressors, and heat pumps.
This HVAC air handling units market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and volume (Million Units) from 2021 to 2032, for the following segments
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Market, By Component Type
- Heating or cooling coils
- Filters
- Dampers
- Fans
- Air handlers
- Blowers
- Others (Humidifiers or dehumidifiers, isolators, etc)
Market, By Capacity
- Below 5,000 CFM
- 5,000 CFM – 10,000 CFM
- Above 10,000 CFM
Market, By Application
- Residential
- Commercial
- Industrial
Market, By Distribution Channel
The above information is provided for the following regions and countries
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Malaysia
- Indonesia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
