Global Market Insights. Inc estimates the air duct market demand will witness 3% CAGR from galvanized steel material segment through 2025.
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The air duct market is primarily driven by rising importance of air ventilation in building indoors coupled with prevailing energy conservation mandates, which focus on reducing the HVAC energy consumption. Proper deployment of air ducts helps maintain indoor temperatures in buildings which reduces the extra overhead cost required for regulating internal temperatures. Shifting trends towards adoption of go green infrastructures is projected to stimulate the market outlook during the forecast period. Apart from developed nations, the developing nations have also started considering innovative infrastructure designs as a positive move towards curbing various environmental problems.
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According to a report by GMI, air duct market size is projected to exceed USD 5.5 billion revenue by 2025. Growing investments toward development of green infrastructures will stimulate the market trends. For instance, ASEAN has collaborated with Asian Development Bank (ADB) under which around USD 1 billion has been invested in the development of green infrastructure, further boosting product adoption from several residential and commercial spaces in Asia.
Rapid urbanization is one the primary driving factor for the market demand. Ever-increasing population in urban areas due to rising migrations for seeking job and enriched standard of living will require deployment of specialized infrastructure and transportation services. Most of them include rapid transit networks constructed by tunneling the undergrounds of the cities. Asia and Europe collectively account for three fourth of the total rapid transit network across the globe as both the regions together constitute for 16,938 Kms of rapid transit.
Ducts play a crucial role in ventilating these underground infrastructures by circulating cold/hot air coming from installed HVAC systems, which helps maintaining healthy environment at underground stations and subways. Growing investment in public transport complemented by the exceptional product deployment in the rapid transit infrastructures will augment air duct Industry growth.
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Increasing popularity of ductless equipment, especially in the residential sector is likely to hinder the growth rate in near future. The factors such as high cost associated with duct installation considering the affordability of residential house owners is likely to negatively impact the market expansion. However, proliferating commercial sector led by favorable government policies to produce local employments should bolster product penetration, thereby reducing the negative impacts instigated from the residential sector.
Based on material type, air duct market from galvanized steel segment is projected to witness a CAGR of around 3% through 2025. This has been attributed to the malleability of the material which allows it to chart out various shapes such as rectangular, oval and round. Ducts made from galvanized steel offer high durability over other materials as they do not corrode, rupture and tear easily even in extreme environments.
However, galvanized steel ducts cannot be deployed in applications requiring complex duct works as this material is not flexible and also requires high cost for insulating, thus encouraging the deployment of ducts made from fiberglass and polymers.
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Considering the regional spectrum, Europe is projected to hold more than 22% of air duct market share in terms of volume, by the end of 2025. The growth can be credited to increasing deployment of ducts for various ventilation, centralized heating and cooling systems in the region. Increasing spending on thermal comfort thermal comfort favored by the existence of chilly climate and high standard of living is likely to augment the regional demand.
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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Website: https://www.gminsights.com/industry-analysis/air-duct-market
Source: MarketersMedia
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