Home > Industrial Machinery > HVAC > HVAC Fan & Evaporator Coil Market

HVAC Fan & Evaporator Coil Market Trends

Report ID: GMI4848
Published Date: Aug 2024
Report Format: PDF

Download Free Sample

HVAC Fan & Evaporator Coil Market Trends

One major trend in the global HVAC fan & evaporator coil industry is the increased focus on sustainability and environmental responsibility. Manufacturers are creating more eco-friendly products, using refrigerants with lower global warming potential and designing components that use less energy. This change is driven by consumer demand for greener solutions and stricter environmental regulations worldwide.

As a result, there is a growing use of alternative refrigerants like R-32 and natural refrigerants such as CO2 and propane, which need specially designed fans and evaporator coils to work efficiently. Another important trend is the use of smart technologies and IoT features in HVAC components, including fans and evaporator coils. These advanced features allow for real-time monitoring, predictive maintenance, and remote diagnostics, improving overall system performance and user experience.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of HVAC fan & evaporator coil reached USD 8.2 billion in 2023 and is likely to grow at a 5.1% CAGR through 2032, due to the rising energy costs, environmental awareness, and strict government regulations.

The fan segment captured a value of USD 5.1 billion in 2023 and will show a 5.3% CAGR through 2032, driven by demand for energy-efficient HVAC systems, rising construction activities, and the need for improved indoor air quality.

Asia Pacific market was worth USD 3.1 billion in 2023 and will experience a CAGR of 5.3% between 2024 and 2032, fueled by rapid urbanization, rising disposable incomes, and a growing demand for energy-efficient systems.

Carrier Global Corporation, Daikin Industries Ltd., Danfoss A/S, Fujitsu General Limited, and Gree Electric Appliances, Inc., among others.