HVAC Air Duct Market is expected to reach US$ 17,502.6 million by 2028

Rising Adoption of Green Building Technology to Provide Growth Opportunities for HVAC Air Duct Market during 2021–2028

According to our latest market study on “HVAC Air Duct Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, and Geography,” the market is expected to grow from US$ 13,213.7 million in 2021 to US$ 17,502.6 million by 2028; it is estimated to grow at a CAGR of 4.1% from 2021 to 2028.

The global HVAC air ducts market is segmented into five major regions— North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. In 2020, Asia Pacific led the market with a substantial revenue share, followed by Europe and North America. Green buildings offer many economic or financial benefits, which are relevant to a range of different people or groups of people. The building sector has the largest potential to significantly reduce greenhouse gas emissions than other major emitting sectors. The emissions savings potential is said to be as much as 84 gigatonnes of CO2 (GtCO2) by 2050, through direct measures in buildings such as energy efficiency, fuel switching, and the use of renewable energy. Over the past few years, the world has been continuously witnessing growth in the number of green buildings across sectors such as residential, commercial, and industrial buildings. For example, Green buildings achieving the Green Star certification in Australia produce 62% less greenhouse gas emissions than average Australian buildings. Green buildings certified by the Indian Green Building Council (IGBC) save 40–50% energy and 20–30% water, compared to conventional buildings in India. Green buildings achieving the Green Star certification in South Africa save 30–40% energy, and save 20–30% potable water every year, when compared to the industry norm. Moreover, according to a US Green Building Council (USGBC) report, the count of green buildings [LEED (Leadership in Energy and Environmental Design)-certified] surpassed 400,000 units in the US.

The global HVAC air ducts market is bifurcated on the basis of product type and application. The market, based on product type, is segmented into sheet metal ducts, flexible non-metallic ducts, fiberglass duct boards, and others. By application, the market is segmented into commercial residential, and industrial. Based on geography, the global HVAC air ducts market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (China, India, South Korea, Japan, Australia, and the Rest of APAC), Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).

Impact of COVID-19 Pandemic on HVAC Air Duct Market

The COVID-19 pandemic has been affecting most of the businesses across the globe. The continuous growth in the count of virus-infected patients compelled government authorities of various countries to restrict the movements of humans, goods, and commodities by imposing travel restrictions, mass lockdowns, and business shutdowns. Imposition of lockdown has resulted in lesser production of commodities and goods, and lowered the frequency of service offerings. Manufacturing, automotive, semiconductor & electronics, oil & gas, aviation, mining, and other industries have witnessed a notable decline in their revenues due to the temporary shutdown of operations. In the first quarter of 2020, after the imposition of nationwide lockdown in most of the nations, many industrial sectors came to a standstill. HVAC air duct is extensively used in laboratories and in various industries such as pharmaceutical, food, electronic & semiconductors, and manufacturing industry. Demand for HVAC air duct at various small & medium enterprises was also affected negatively. However, after the situation comes to normalcy, the HVAC air ducts market is expected to grow remarkably across the world during the forecast period.

TIN MAN SHEET METAL FABRICATION, LLC; Hennemuth Metal Fabricators; Waves Aircon Pvt. Ltd.; DuctSox; Lindab; TurnKey Duct Systems; M&M Manufacturing; SetDuct; US Duct; and V.K. STEEL are among the major companies operating in the HVAC air ducts market.

HVAC Air Duct Market — by Geography, 2020 and 2028 (%)

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HVAC Air Duct Market to Grow at a CAGR of 4.1% to reach US$ 17,502.6 million from 2021 to 2028

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HVAC Air Duct Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Sheet Metal Ducts, Flexible Non-Metallic Ducts, Fiberglass Duct Boards, and Others) and Application (Commercial, Residential, and Industrial)