Air duct market to gain massive proceeds from galvanized steel segment over 2019-2025
Publisher : Fractovia | Published Date : 2019-11-07Request Sample
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. According to a research report by Global Market Insights, Inc., air duct market size is projected to exceed USD 5.5 billion by 2025.
Shifting trends towards adoption of go green infrastructures is projected to stimulate the air duct 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. Ongoing construction activities and proliferation of residential and commercial sector in the emerging countries are likely to escalate the product utilization rate.
Furthermore, growing investments toward development of green infrastructures will stimulate the air duct 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 air duct 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 market growth.
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.
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.
