Air Duct Market Expected to Reach $22.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Air Duct Market," The air duct market size was valued at $13.9 billion in 2021, and is estimated to reach $22.7 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.

Air duct system consists of a path for conditioned air to be cooled or heated by the ventilation, heating, and air conditioning (HVAC) system. The air duct system consists of various components such as smoke and fire dampers, vibration isolators, volume control dampers, chimney collars & heads, baffles, termination units, plenums, and air diffusers. The material used in air ducts can be aluminum, galvanized steel, metallic, non-metallic, and others depending on the requirement. In addition, the shape of the air duct can be oval, rectangular, or round.

Increase in health issues associated with deteriorating indoor air quality and rise in environmental concerns are some of the factors contributing significantly to the increased demand for air ducts in buildings. Furthermore, surge in infrastructure development and green building initiatives by various developing and industrialized nations around the world are anticipated to boost the air duct market opportunity. HVAC air duct systems can be found in new airports, hotels, multiplexes, office buildings and fast transportation is expected to surge the air duct market growth. In addition, increase in number of tall buildings & skyscrapers and rise in construction of commercial & residential buildings fuel the growth of the air duct market.  In addition, infrastructural dominance for hotels, restaurants, and other commercial establishments has become a matter of reputation and prestige. This factor coupled with need for better air conditioning facilities has created new opportunities for market growth.

Major players have adopted product launch and acquisition as key strategies to sustain the competition and improve the product portfolio. For instance, in August 2021, Emerson introduced a new Copeland 110cc speed scroll variable compressor with a 36-kW inverter drive. These new solutions are designed to conserve energy and enhance the environment in a variety of commercial air-conditioning applications, including chillers, data centers, and package air conditioners. Such strategic moves are expected to provide lucrative growth in the market during the forecast period.

Asia-Pacific accounted for largest share of the global air duct market share in terms of revenue in 2021, owing to increase in industrialization and rapid urbanization in countries such as China, India, Vietnam, and Indonesia that boost the growth of construction activities, which further fuel the growth of the market

However, during the COVID-19 pandemic, various manufacturers in the air duct market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of air duct companies. In addition, lack of manpower and raw materials constricted supply of air duct equipment, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus diseases are anticipated to lead to re-opening of air duct companies.

KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging global air duct market trends and dynamics. 
• Depending on product type, the metallic segment has dominated the air duct market, in terms of revenue in 2021 and non-metallic is projected to grow at a significant CAGR during the forecast period.
• By end-user industry, the commercial segment has registered highest revenue in 2021.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• The key players within the global air duct market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the air duct industry.
• The air duct market forecast analysis from 2022 to 2031 is included in the report.
• In-depth global air duct market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.