Variable Air Volume Box Market Analysis | 2022-2028

Market Insights

The variable air volume box market was estimated at USD 5.1 billion in 2021 and is likely to grow at a CAGR of 6.06% during 2022-2028 to reach USD 7.73 billion in 2028.

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Market Dynamics

Introduction

A Variable Air Volume (VAV) box is a crucial component in modern HVAC (Heating, Ventilation, and Air Conditioning) systems, designed to regulate airflow to specific zones within a building. Unlike constant air volume systems, VAV boxes adjust the volume of air delivered based on real-time demand, ensuring optimal comfort and energy efficiency. They typically include a damper, actuator, and control system that modulates airflow according to the temperature requirements of each zone. Commonly used in commercial buildings, VAV systems reduce energy consumption, enhance occupant comfort, and allow precise climate control, making them an essential element in sustainable building designs.

Market Drivers

The demand for commercial construction and building is high:

The main element driving the market's growth is the rising demand for variable air volume (vav) systems in commercial buildings and projects. Due to its increasing use in a variety of end-use industries, including as retail, offices, hotels, and warehouses, the demand for variable air volume (vav) systems is increasing. Because of its many advantages over traditional HVAC systems, including its low power usage, reduced fan noise, and enhanced precision, it has grown in popularity.

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Key Players

The following are the key players in the variable air volume box market:

• Ingersoll Rand PLC
• Johnson Controls
• TROX GmbH
• Spectrum Industries
• United Technologies Corporation
• Honeywell International Inc.
• Daikin Industries, Ltd.
• Siemens AG
• Systemair AB
• Barcol-Air.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Type

"Single-duct VAV segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period"

The market is segmented as single-duct VAV, dual-duct VAV, induction VAV, and fan-powered VAV. The single-duct VAV segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The extensive use of single-duct VAV for energy efficiency applications in various applications and its properties such as cost-effectiveness and the ability to control zone temperature by volumetric flow of air is the key driver for its dominance.

By Application Type

"Commercial building application dominates the market during the forecast period"

The variable air volume box market is segmented into residential buildings, industrial buildings, and commercial buildings. The commercial building application dominates the market as the use of variable air volume boxes in large offices, shopping malls, hospitals, and hotels, among others including mega structures, conventions centers, and shopping malls, and usage of the VAV box with a VAV system ensure the energy efficiency of the overall system, which is propelling the growth of the segment during the forecast period.

Regional Analysis

"North America is estimated to be the largest market during the forecast period"

North America is estimated to be the largest market for variable air volume boxes during the forecast period, with the US, Canada, and Mexico being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of healthcare and construction activities, owing to the increasing aging population in North America, which is also expected to drive the overall construction industry. Increasing spending on infrastructure development is also expected to offer substantial growth opportunities during the forecast period.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s variable air volume box market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The variable air volume box market is segmented into the following categories:

By Type

• Single-Duct VAV 
• Dual-Duct VAV 
• Induction VAV 
• Fan-Powered VAV 

By Application Type

• Commercial Building 
• Industrial Building 
• Residential Building 

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.