Air Duct Market Size, Share, Competitive Landscape and Trend Analysis Report

According to a new report published by Allied Market Research, titled “Air Duct Market," the air duct market 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.

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An air duct system provides a pathway for conditioned air to be cooled or heated by the HVAC system. It 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. Depending on the requirement, air ducts can be made from materials like aluminum, galvanized steel, metallic, non-metallic, and others, and can be shaped as oval, rectangular, or round.

The increased demand for air ducts in buildings is driven by health concerns associated with poor indoor air quality and environmental issues. Additionally, the surge in infrastructure development and green building initiatives in both developing and industrialized nations is expected to boost the air duct market. HVAC air duct systems are commonly found in new airports, hotels, multiplexes, and office buildings. The rising number of tall buildings, skyscrapers, and the construction of commercial and residential buildings further fuel market growth. The need for better air conditioning facilities in hotels, restaurants, and other commercial establishments, which is often tied to their reputation and prestige, has created new market opportunities.

Major players in the market are adopting strategies such as product launches and acquisitions to stay competitive and enhance their product portfolios. For instance, in August 2021, Emerson introduced the Copeland 110cc speed scroll variable compressor with a 36-kW inverter drive, designed to conserve energy and improve the environment in various commercial air-conditioning applications like chillers, data centers, and package air conditioners. Such strategic moves are anticipated to drive market growth during the forecast period.

Asia-Pacific accounted for the largest share of the global air duct market in terms of revenue in 2021, driven by industrialization and rapid urbanization in countries like China, India, Vietnam, and Indonesia. This industrial and urban growth boosts construction activities, further fueling the market.

However, during the COVID-19 pandemic, various manufacturers in the air duct market had to halt operations in countries like China, the U.S., and India, directly impacting sales. The lack of manpower and raw materials further constrained the supply of air duct equipment, negatively affecting market growth. The reopening of production facilities and the introduction of COVID-19 vaccines are expected to lead to a recovery for air duct companies.

Key Findings of the Study

• The report provides an extensive analysis of current and emerging global air duct market trends and dynamics.
• Depending on product type, the metallic segment dominated the air duct market in terms of revenue in 2021, while the non-metallic segment is projected to grow at a significant CAGR during the forecast period.
• By end-user industry, the commercial segment registered the highest revenue in 2021.
• Asia-Pacific is projected to register the 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, providing a comprehensive understanding of the 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.

Full Report@ https://www.alliedmarketresearch.com/air-duct-market-A09606