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HVAC Air Handling Units Market Size

Report ID: GMI5188
Published Date: Apr 2024
Report Format: PDF

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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.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The HVAC air handling units industry was reached USD 65.3 billion in 2023 and is projected to expand at 4.4% CAGR from 2024 to 2032, owing to the rising construction of new residential buildings such as single-family homes, multi-family housing complexes, condominiums, and apartment buildings.

The filters segment in the HVAC air handling units market accumulated USD 18.9 billion in revenue in 2023, due to the growing awareness of the value of IAQ in institutional, commercial, and residential buildings.

Asia Pacific HVAC air handling units industry held 43% revenue share in 2023 and is estimated to grow at notable rate between 2024 and 2032, on account of the thriving commercial & industrial sectors including manufacturing, hotel, retail, healthcare, education, and IT services.

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, and York International Corporation are some of the leading HVAC air handling units companies worldwide.