Selbyville, Delaware, Nov. 04, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on HVAC fan and evaporator coil market which estimates the global market valuation for HVAC fan and evaporator coil will cross US$ 9.6 billion by 2026. Upgrading lifestyles of the middle-income population is expected to boost the overall market size.
HVAC fan and evaporator coil demand in the residential sector will witness a CAGR of 4.5% during the forecast timespan and will reach USD 1.7 billion by 2026. Residential air conditioner systems are portable and smaller compared to commercial and industrial systems due to which coil usage in these systems is limited. However, the rapidly growing construction industry in Asia and the Middle East owing to increasing population and urbanization will provide growth avenues for the product in the residential sector. In addition, the increasing middle-income population will boost the HVAC fan and evaporator coil demand in the region over the forecast period.
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HVAC fan coil demand is expected to grow at a healthy rate in the coming years. The expanding commercial construction industry in the Middle East and residential construction in Africa will boost the market growth. Owing to the rapidly growing tourism industry in the Middle East, commercial construction is also growing at an accelerated pace from the past few years. This commercial construction growth will drive product demand in the commercial sector. On the other hand, owing to the rising population and residential construction industry, Africa has been experiencing a healthy growth rate from the past several years. This residential construction growth will drive the fan coil demand in the regional residential sector.
Aftermarket was valued at over USD 2 billion in revenue in 2019 and is anticipated to grow at a CAGR of over 4.5% in the coming years. Aftermarket sale is comparatively higher in the commercial and industrial sectors compared to the residential sector. It is easy and less costly to change the entire air conditioning system in the residential sector as they are small and less expensive. However, it very costly to replace the same in the commercial & industrial sectors as the systems used in these sectors are bulky and costly. Majority of the consumers prefer coil instead of the entire system owing to their high prices, leading to a high aftermarket coil in the commercial and industrial sectors.
Many multinational giants operating in the industry are emphasizing merger and acquisition strategies to increase their market share. For instance, in March 2013, Zamil Industrial Investment Company, a Saudi Arabia-based company, completed the acquisition of Advantec Coils, which is based in India. The company bought the remaining 70% shares of Advantec as it had already bought 30% shares in 2008. Currently, Advantec is a wholly owned subsidiary of Zamil. This acquisition will help the company to increase its footprint in the Indian market. Other companies working in the industry include Mistcold, Lloyd, Spirotech Heat Exchanger, Markair, Inc., Coilmaster, Yeh Jeh, D.P. Engineers, EVAPCO Alcoil, Inc., Grupporeco, and Ekocoil.
Browse key industry insights spread across 250 pages with 202 market data tables & 19 figures & charts from the report, “HVAC Fan and Evaporator Coil Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/hvac-fan-and-evaporator-coil-market
Europe was the major region in the global market and accounted for over 20% share in the overall market share. The regional market is expected to witness steady growth and is likely to grow at a CAGR of over 4% during the projected timespan. This growth can be attributed to the early adoption of air conditioning systems in the region. Additionally, increasing inclination toward energy-efficient and environmental-friendly air conditioning systems will fuel product demand in the region.
Some major findings of the HVAC fan and evaporator coil market report include:
- Increasing disposable income coupled with changing lifestyle in emerging economies.
- Growing demand for advanced air conditioning systems on account of environmental regulations in North America & Europe.
- High industrialization Europe.
- OEM will remain the prominent distribution channel over the forecast period.
- Fan coil demand will grow at a high CAGR compared to an evaporator coil.
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Partial chapter from the report table of contents (ToC):
Chapter 3 HVAC Fan And Evaporator Coil Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2016 – 2026
3.2.1 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Profit margin
3.3.2 Value addition
3.3.3 Distribution channel analysis
3.3.3.1 Value chain disruption analysis
3.3.4 Vendor matrix
3.3.4.1 List of key manufacturers/distributors
3.3.4.2 List of key end-users
3.4 Innovation & sustainability
3.4.1 Patent analysis
3.4.2 Technology landscape
3.4.3 Future trends
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Increasing living standards in emerging economies
3.5.1.2 Large HVAC industry in North America & Europe
3.5.1.3 Increasing rate of replacement
3.5.1.4 Growing industrialization in Asia Pacific
3.5.2 Industry pitfalls & challenges
3.5.2.1 Growing environmental regulations
3.6 Regulatory landscape
3.6.1 U.S.
3.6.2 China
3.6.3 Europe
3.7 Growth potential analysis, 2019
3.8 Regional price trends
3.8.1 Cost structure analysis
3.8.1.1 R&D cost
3.8.1.2 Manufacturing & equipment cost
3.8.1.3 Raw material cost
3.8.1.4 Distribution cost
3.8.1.5 Operating cost
3.8.1.6 Miscellaneous cost
3.8.2 Price by application
3.8.3 Price by industry
3.8.4 Price by distribution
3.9 Competitive landscape, 2019
3.9.1 Top player overview
3.9.2 Brand analysis
3.9.3 Key stakeholders
3.9.4 Strategic dashboard
3.10 Porter’s analysis
3.10.1 Supplier industry
3.10.2 Buyer industry
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
3.12 COVID-19 impact on HVAC industry by region
3.12.1 North America
3.12.2 Europe
3.12.3 Asia Pacific
3.12.4 Latin America
3.12.5 Middle East & Africa
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/hvac-fan-and-evaporator-coil-market
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.