Air Duct Market to Register 4.5% CAGR till 2028; Proliferation of Commercial Facilities in Large Cities Worldwide to Favor Market Growth

The global air duct market size is projected to reach USD 12.16 billion by 2028 owing to the rising preference for fabric duct systems in industrial spaces, shares Fortune Business Insights™ in its report, titled “Air Duct Market Size, Share & COVID-19 Impact Analysis, By Type (Galvanized Steel, Aluminum, Flexible, Fabric, and Others), By Shape (Round, Half Round, Square/Rectangular, Triangular, and Others), By Application (Public Facilities, Commercial Facilities, Industrial Facilities, and Others), and Regional Forecast, 2021-2028”. As per the report, the value of the market was USD 8.60 billion in 2020 and is expected to hit USD 8.94 billion in 2021, exhibiting a CAGR of 4.5% from 2021 to 2028.

The COVID-19 pandemic has diminished the air duct market growth, as the pandemic has disrupted the installation and maintenance of heating, ventilation, and air conditioning (HVAC) systems in commercial and industrial spaces. Moreover, supply chain disturbances and the closure of manufacturing plants have caused prices to spike, rendering advanced ventilation solutions unaffordable to a large number of consumers. Consequently, the market experienced a low growth rate of 3.8% in 2020.

France Air Group Acquires SIG Air Handling Division for €222.7 Million

In October 2019, France Air Group announced the acquisition of SIG’s Air Handling Division for a value of €222.7 million on a cash- and debt-free basis. The takeover will enable France Air to put its international expansion and diversification strategy on the fast track, which has been evolving over the past five years. The unified entity is slated to become the leading indoor air ventilation developer and supplier across Europe with an estimated turnover of €500 million, employee strength of 1,800, and presence in 14 European countries. Moreover, this acquisition will complement France Air’s portfolio of heating equipment and air duct solutions, further strengthening its position in the HVAC market in Europe.

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Development of Smart HVAC Systems to Catalyze the Market

Smart technologies such as artificial intelligence (AI), sensors, and the Internet of Things (IoT) have significantly augmented the capabilities of indoor ventilation solutions. For example, air ducts embedded with IoT-based sensors can efficiently ventilate a room even before it is occupied, thus creating a healthy breathing environment in a short span of time. This has led many prominent companies to engineer next-generation HVAC solutions. In April 2021, for instance, Emerson’s Sensi Predict AI-based HVAC system that uses 10 sensors for heating and cooling operations, won the Silver Edison Award in Innovation Services. Furthermore, government agencies are also aggressively promoting the development of green ventilation technologies. For example, in May 2021, the US Department of Energy (DOE) unveiled the Initiative for Better Energy, Emissions, and Equity (E3) for enhancing energy efficiency in buildings. Since air ducts form the most essential component in HVAC units, the introduction of smart ventilation solutions will augment the outlook of this market.

Key Players to Undertake Strategic Takeovers to Fortify Position

In a bid to entrench their position in the market for air ducts, top competitors are strategically acquiring companies. Such takeovers are aimed at speedily diversifying product portfolios, while simultaneously accessing new technologies and research & development competencies. Apart from this strategy, key companies are also focusing on ramping up investments in R&D to create innovative products, establishing a presence in emerging economies, and widening revenue sources.

Industry Development

• April 2019: Lindab UK completed the purchase of all shares of Dutchmann Ltd., a UK-based rectangular and fire-related duct and silencer maker. With this acquisition, Lindab intends to bolster its ventilation system offerings in the UK.

List of Key Players Profiled in this Market Report

• KAD AIR CONDITIONING (BIN DASMAL GROUP) (United Arab Emirates)
• Durkeesox (Wuhan)Air Dispersion System Co., LTD (China)
• FabricAir (Denmark)
• CMS Group of Companies (United Arab Emirates)
• Lindab (Sweden)
• DMI Companies (United States)
• Aldes Group (France)
• THERMAFLEX (United States)
• Imperial Manufacturing Group (Canada)
• Saint-Gobain Performance Plastics (ISOVER) (France)

Further Report Findings

• The industrial facilities segment is anticipated to register slow growth on account of the longer shelf life of industry-grade ventilation systems. In 2020, the segment held a share of 13.7% in the global market and a share of 16.1% in the India market.
• Asia Pacific is expected to lead the air duct market share during the forecast period due to the massive investments in commercial infrastructure development in India, China, and ASEAN countries. The Asia Pacific market size stood at USD 3.96 billion in 2020.

Table of Segmentation