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The fan coil unit industry is fragmented, with several regional companies operating on a global scale. Together these companies hold a market share of 10%-15% of the total market. Regional companies often leverage their local knowledge and expertise to cater to specific market needs and regulatory requirements. They frequently offer customized solutions tailored to local preferences and building standards. Global companies benefit from economies of scale, extensive distribution networks, and strong brand recognition.
Major players operating in the fan coil unit industry are:
Some of the prominent fan coil unit industry players are Daikin Industries, Ltd., Carrier Global Corporation, Trane Technologies plc, Johnson Controls International plc, Mitsubishi Electric Corporation, LG Electronics Inc., Fujitsu General Limited, Samsung Electronics Co., Ltd., Honeywell International Inc., Aermec S.p.A., Dunham-Bush, Gree Electric Appliances Inc., TROX GmbH, Lennox International Inc., and Emerson Electric Co., among others.
Asia Pacific fan coil unit industry will witness 5.2% CAGR through 2032, propelled by rapid urbanization, industrialization, and a growing focus on modernizing HVAC systems in the region.
The four pipe fan coil units (FCU) market achieved USD 2.9 billion in 2023, primarily due to their versatility and superior performance in managing both heating and cooling simultaneously.
The market size of fan coil unit was worth over USD 4.69 billion in 2023 and will grow at a 4.9% CAGR between 2024 and 2032, driven by increasing demand for energy-efficient HVAC systems and rising awareness of indoor air quality.