The VAV BOX Market size is estimated at USD 4.7 billion in 2019 and is projected to reach USD 6.4 billion by 2024, at a CAGR of 6.3%. The VAV BOX market is majorly driven by the growing construction activities, particularly commercial buildings in the emerging countries of APAC.
Browse 77 market data Tables and 47 Figures spread through 132 Pages and in-depth TOC on "Variable Air Volume Box Market by type (Single-Duct VAV, Dual-Duct VAV, Induction VAV, Fan-Powered VAV (Series Powered, Parallel Powered)), Application (Residential Building, Industrial Building, Commercial Building), and Region - Global Forecast to 2024".
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Single-Duct VAV is estimated to lead the overall VAV Box market during the forecast period.
Single-Duct VAV leads the overall VAV Box market. The cost effectiveness and the ability to control zone temperature by volumetric flow of air are the major factors driving the demand of Single-Duct VAV. Further, the increasing need for energy efficiency, is also increasing the use of Single-Duct VAV in smaller areas such as classrooms, retail stores, dormitories, and offices.
Commercial buildings are estimated to be the largest application of VAV BOX.
Commercial buildings are estimated to be the largest application of VAV Box. The usage of the VAV box with a VAV system ensure the energy efficiency of the overall system. This makes the use of VAV systems in commercial buildings highly popular. VAV systems are used in various sectors within commercial buildings, such as large office, shopping malls, hospitals, and hotels, among others including mega structures, conventions centers, shopping malls, and others.
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Ingersoll Rand PLC (Ireland), Johnson Controls (US), TROX GmbH (Germany), Spectrum Industries (India), United Technologies Corporation (US), Honeywell International Inc. (US), Daikin Industries, Ltd. (Japan), Siemens AG (Germany), Systemair AB (Sweden), Barcol-Air (Switzerland) are the major players in the VAV box market.
Ingersoll Rand PLC (Ireland) is one of the major players of the VAV BOX market. It is one of the leading companies providing air solutions for homes and buildings, transportation and protection solutions for food and perishables and solutions to increase the industrial productivity and efficiency. The company operates through two business segments, namely, climate and industrial which offers products under the brand names - Club Car, Ingersoll Rand, Thermo King, and Trane. The company provides VAV products through its brand name Trane which falls under its climate business segment. Trane manufactures and markets heating and air ventilation equipment that helps in optimizing indoor environments. Ingersoll-Rand markets and sales its products through different subsidiaries and distributors in more than 100 countries globally.
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The report "Variable Air Volume (VAV) Systems Market by Type (Single-duct VAV, Dual-duct VAV, Induction VAV, Fan-powered VAV), Application (Commercial building, Industrial building, Residential building), and Region - Global Forecast to 2024" The variable air volume (VAV) systems market is expected to grow from USD 11.8 billion in 2019 to USD 16.0 billion by 2024, at a CAGR of 6.3 % during the forecast period.
The major factors driving the variable air volume (VAV) systems market include increasing construction activities, globally and rising awareness for reducing energy consumption.♦ Download Detailed PDF Brochure Here: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=67412024♦ Premium Insights - 4.1 Attractive Opportunities in the VAV System Market 4.2 VAV System Market Growth, By Type 4.3 VAV System Market, By Application and Region 4.4 VAV System Market: Major CountriesCommercial buildings application segment accounts for the largest market size during the forecast periodThe commercial buildings segment is increasing owing to the rising demand for variable air volume (VAV) systems in the hospitality sector, retail sector, offices, and warehouses.
The countries in the Middle East and Africa, such as the UAE and Saudi Arabia, are emerged as lucrative locations for the hospitality sector, retail sector.
Hence, global investors are commencing their operating units in these countries.
All such attributes are fueling the installations of variable air volume (VAV) systems in the commercial buildings application segmentBy type, the single-duct VAV systems are expected to be the largest contributor in the market during the forecast period.Based on type, the variable air volume (VAV) systems segment is likely to account for the largest share of the market in 2019.
The growth of single-dut VAV systems segment is spurred by its growing demand in industrial buildings applications, especially in countries like China, India, Southeast Asia.♦ Get 10% Free Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=67412024After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and sub-segments.
