Variable Air Volume Box Market is set to emerge at a CAGR of 6.14% over the forecast period 2020-2026, finds OG Analysis. Based on market trends, advancement in technology, rapid economic and industrial development, and increase in sales of variable air volume box across commercial and industrial construction sector the variable air volume box market growth is witnessed to reach high market value.
Additionally, increasing need for energy-efficient and cost-effective heating and cooling solutions for smart and green construction project boost the variable air volume box market growth.
Single-duct VAV box to occupy major variable air volume box market share driven by huge adoption of single-duct VAV systems in commercial buildings. The competitive features including low sound level operation, cost-effectiveness, and efficiency in maintaining the optimum temperature in different climatic conditions trigger the demand for single-duct VAV.
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Although VAV box systems provide robust performance the market growth is challenged by strong presence of constant air volume systems which are less complex and affordable.
North America is set to emerge with strong VAV box market share over the forecast period 2020-2026
The presence of large healthcare and medical infrastructure to support the increasing folds of the aging population along with rising healthcare expenditure drives the market growth across North America. Furthermore, the increasing expenditure on public and private infrastructure boost the variable air volume box market growth and demand in this region.
In the U.S, leading key players in the Variable air volume box market are set to shape the market size, for example, one of the leading market player, Johnson Controls invests to focus on developing energy solutions, integrated infrastructure, and transportation systems which pose a positive impact towards the market growth.
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Whereas the market growth Asia Pacific is observed to enter growth phase during the forecast period, in particular in China, India is driven by spur in construction activities, growth prospects of key end-users, and emerging market players. Accordingly, the recent news of the acquisition of Australian company Airmasterto by Daikin Industries to strengthen its service and solutions businesses in Asia and Australia is an example of strategic approaches by key market players to thrust market growth and size.
Strategic alliance and product differentiation across key players harness robust market growth during forecast period
Launch of new VAV systems by key companies and strategic approaches of increasing production units is observed to capitalize on variable air volume box market share. For instance, in 2018, TROX converted its sales company TROX Mexico into a production company. Also, in mid-2019, TROX Mexico first produced grilles and other air terminal devices followed by air handling units.
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Furthermore, in 2019, TROX launched a new VAV terminal TVE which is designed to measure the volume flow and helps to ensure precise measurement in case of unfavorable upstream conditions.
In addition, prominent market players are entering in strategic ventures to explore market growth opportunities in terms of both market value and volume. For example, in 2019, TROX GmbH signed a joint venture with Egyptian air conditioning manufacturer and supplier Tiba El Manzalawi Group for serving the Egyptian market as well as the end-users in the Middle East and in North and East Africa.
Ingersoll Rand PLC, Johnson Controls, TROX GmbH, Spectrum Industries, United Technologies Corporation, Honeywell International Inc., Daikin Industries, Ltd., Siemens AG, System air AB, and Barcol-Air are the other major key players contributing in growth of variable air volume box market value and size.
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