The global air handling units market is anticipated to grow from USD 11.6 billion in 2021 to USD 15.9 billion by 2026, at a CAGR of 6.5% from 2021 to 2026. This growth can be attributed to the increasing demand for air handling units from the application sectors such as commercial buildings, industries, hospitals, universities, data centers, laboratories, and server rooms.
Daikin Industries Ltd. (Japan), Carrier Corporation (US), Trane Technologies plc (Ireland), Johnson Controls International plc (Ireland), Systemair AB (Sweden), Flakt Woods Group (Sweden), Trox GmbH (Germany), Lennox International, Inc. (US), Munters AB (Sweden), and Blue Star Limited (India) are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.
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The key players operational in the air handling units market are focusing on new product launches, agreements, expansions, acquisitions, and joint ventures to cater to the increasing demands across various industries. These companies are also investing in R&D activities to strengthen their sales and distribution networks, enhance their market visibility, and strengthen their position in the air handling units market.
Daikin Industries, Ltd., in June 2020, established a new company named Baridi Baridi Inc., to conduct an air conditioner subscription business. The joint venture between Daikin Industries, Ltd. and WASSHA Inc. will capitalize on Daikin’s air conditioners, which are known for their excellent durability, high efficiency, and low environmental impact, and on the company’s capabilities for building service networks.
Johnson Controls International plc, in June 2020, completed the acquisition of Silent-Aire. Silent-Aire specializes in the design, engineering, and manufacturing of mission-critical custom air handlers and modular data centers for hyperscale cloud and colocation providers. Silent-Aire’s portfolio of data center solutions allow for rapid deployment of critical infrastructure in flexible configurations, with a focus on quality, scalability, and speed-to-market.
Carrier Corporation, in June 2020, announced the acquisition of a controlling stake of Guangdong Giwee Group (Giwee Group) and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co., Ltd. The acquisition will expand Carrier’s access to the rapidly growing variable refrigerant flow (VRF) and light commercial market.
Asia-Pacific is the largest and fastest-growing market for air handling units during the forecast period. This increased demand can be attributed to the growing demand for air handling units from the commercial and residential applications. The air handling units markets in countries such as China, India, Japan, South Korea and Thailand are projected to witness growth during the forecast period owing to increased demand for air handling units from various application segments such as electronics, food and beverages processing sector, pharmaceutical, commercial buildings, hospitals, universities, swimming pool, data centers, and residential buildings.
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