The North America air handling units market size is expected to reach US$ 4.65 billion by 2031 from US$ 3.20 billion in 2023. The market is estimated to record a CAGR of 4.8% from 2023 to 2031. The growing technological advancements are likely to bring in new trends in the market.
The North America air handling units market is predicted to witness strong growth due to the increasing demand for energy-efficient heating and cooling solutions in the region. As the unit is energy efficient and provides improved air quality, its demand is increasing across industries such as food processing, pharmaceuticals, and chemicals. Furthermore, the region is witnessing an increasing number of construction projects, which is expected to propel the demand for AHUs. For example, the construction of the Tampa Gas Worx Mixed-Use Community project—which involves the construction of a 20 ha mixed-use development in Ybor City, Tampa (Florida, US)—started in Q1 2023 with an aim to enhance residential, office, and retail facilities in the region. The project is expected to be completed by Q3 2026. Thus, the rising number of construction projects in the region is likely to create lucrative opportunities for the market. Moreover, the growing technological advancements in AHUs by integrating IoT, AI, and machine learning will further make the AHUs more cost-effective and energy-efficient, which will continue to propel the market growth.
The air handling unit (AHU) is an essential component of a heating, ventilation, and air conditioning (HVAC) system. The AHU is crucial for conditioning and circulating air across a building or space. An AHU is often made out of a housing or cabinet that includes a blower or fan, heating or cooling elements (such as a coil/heat exchanger), air filters, and airflow dampers. The AHU is connected to ductwork, which distributes conditioned air throughout the building or space. The AHU may additionally include humidifiers, dehumidifiers, or air purification systems, depending on the specific requirements of a building or space.
AHUs efficiently regulate and circulate air within a building or other confined environment, leading to a rise in demand across various industries. AHUs are utilized in a number of industrial operations to control temperature, humidity, and air quality. They are widely used in pharmaceutical manufacturing, food processing, and other industries that demand precise environmental control. In the food and beverage processing industry, AHUs are utilized to provide accurate temperature control, humidity regulation, and air quality management, making the unit a crucial component in maintaining product quality, extending shelf life, reducing spoiling, and assuring consumer safety of the products. Also, clean rooms, which are highly controlled environments used in sectors such as semiconductor production, biotechnology, and pharmaceuticals, rely heavily on AHUs. The AHUs in these plants are required to maintain incredibly low humidity, temperature, and particle matter levels. In addition, laboratories require highly regulated settings to carry out tests and research. AHUs are used to keep temperatures and humidity consistent while also providing ventilation to prevent the accumulation of potentially harmful chemicals or pollutants. Furthermore, hospitals require high air quality to avoid the spread of infection and sickness. AHUs filter and circulate air throughout the facility, ensuring that patients and workers breathe clean, healthy air. Thus, as AHUs regulate the air quality and manage the temperature according to different industrial needs, their demand is increasing in various sectors.
According to the International Monetary Fund, the US has the largest commercial property market in the world. In addition, the construction industry in Canada and Mexico is witnessing significant growth with the growing industrialization in the countries. Also, surging investments in the development of smart city initiatives are expected to fuel the growth of the construction industry in the country. A few of the mega-construction projects are listed below:
Thus, the growing number of such high-end construction activities is expected to fuel the demand for AHUs in the region, as these units are used to adjust the temperature and humidity and provide comfortable and refreshing air-conditioned air in these arenas.
Key segments that contributed to the derivation of the North America Air Handling Units Market analysis are configuration, capacity, type, and application.
The North America air handling units market is segmented into the US, Canada, and Mexico. The US dominated the market in 2023. It is a developed country in terms of infrastructure, modern technology, standard of living, and many other factors. Various industries in the region are witnessing tremendous growth. In 2023, North America accounted for 53.3% of global pharmaceutical revenues, compared to 22.7% in Europe. According to IQVIA (MIDAS May 2024), the US market accounted for 67.1% of sales of new medications launched between 2018 and 2023, compared to 15.8% in Europe (top five markets). Thus, the growing pharmaceutical industry in the region will spike the demand for AHUs to protect drugs and medications.
The regional trends and factors influencing the North America Air Handling Units Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses North America Air Handling Units Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 3.20 Billion |
| Market Size by 2031 | US$ 4.65 Billion |
| Global CAGR (2023 - 2031) | 4.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Configuration
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The North America Air Handling Units Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the North America Air Handling Units Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The North America air handling units market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the North America air handling units market are listed below:
(Source: Carrier, Press Release, January 2024)
(Source: Daikin, Press Release, October 2024)
The "North America Air Handling Units Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
The List of Companies - North America Air Handling Units Market
US is anticipated to grow at the fastest CAGR over the forecast period.
The growing technological advancements are likely to be the future trends of the North America air handling units market.
The packaged air handling units segment segment led the North America air handling units market with the highest share in 2023.
The North America air handling units market is expected to reach US$ 4.65 Billion by 2031.
The key players holding majority shares in the North America air handling units market include Daikin Industries Ltd, Carrier Global Corp, Trane Technologies Plc, Johnson Controls International Plc, and LG Electronics Inc.
The North America air handling units market was estimated to be valued at US$ 3.20 billion in 2023 and is anticipated to grow at a CAGR of 4.8% over the forecast period.
Pressing need for energy-efficient solution and diversifying applications across various industries drive the adoption of North America air handling units solutions.