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Rapid transformation of IoT within air handling units is driving the Market

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Rapid transformation of IoT within air handling units is driving the Market

Rapid transformation of IoT within air handling units is driving the Market
Browse 234 market data Tables and 54 Figures spread through 262 Pages and in-depth TOC on “Air Handling Units Market”
Air Handling Units Market by Application (Commercial, Residential), Type (Packaged, Modular, Custom), Capacity (≤5,000 M3/H, 5,001 – 15,000 M3/H, 15,001 – 30,000 M3/H, 30,001 – 50,000 M3/H, ≥ 50,001 M3/H), & Region

The air handling unit market is estimated at USD 11.6 billion in 2021 and is projected to reach USD 15.9 billion by 2026, at a CAGR of 6.5% from 2021 to 2026. The rising usage of air handling units across various application sectors such as commercial buildings, hospitals, industries, universities, data centers and server rooms is expected to fuel the growth of the air handling units market.

The Internet of Things (IoT) represents a scenario where AHUs/HVAC systems are connected to the Internet to allow the sharing of data. It collects data, stores them in the cloud, improves operations for better efficiency, and runs a predictive maintenance schedule. It also monitors, controls, and diagnoses the AHU and HVAC system over the internet in a cost-effective way. In addition, IoT enables low ongoing maintenance and repair costs of the HVAC system. IoT allows access to real-time performance data of AHUs and HVAC systems and interprets it correctly. For instance, IoT-enabled buildings can alert facility managers with early warnings of any operational abnormalities and allow for remote diagnosis and adjustment, which in turn could save costs by minimizing system failures. Moreover, AHUs and HVAC systems in commercial or residential buildings consume maximum energy. Implementing IoT in these applications would help in cost-saving, predictive maintenance, comfort control, and healthy building performance. This amalgamation of IoT with AHUs and HVAC systems provides a window of opportunity to companies operating in this industry.

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Asia-Pacific is the largest and fastest-growing market for air handling units during the forecast period. This increased demand can be attributed to the growing demand for air handling units from the commercial and residential applications. The air handling units markets in countries such as China, India, Japan, South Korea and Thailand are projected to witness growth during the forecast period owing to increased demand for air handling units from various application segments such as electronics, food and beverages processing sector, pharmaceutical, commercial buildings, hospitals, universities, swimming pool, data centers, and residential buildings.

Key players operational in the market include Daikin Industries Ltd. (Japan), Carrier Corporation (US), Trane Technologies plc (Ireland), Johnson Controls International plc (Ireland), Systemair AB (Sweden), Flakt Woods Group (Sweden), Trox GmbH (Germany), Lennox International, Inc. (US), Munters AB (Sweden), and Blue Star Limited (India).

Daikin Industries, Ltd., in June 2020, established a new company named Baridi Baridi Inc., to conduct an air conditioner subscription business. The joint venture between Daikin Industries, Ltd. and WASSHA Inc. will capitalize on Daikin’s air conditioners, which are known for their excellent durability, high efficiency, and low environmental impact, and on the company’s capabilities for building service networks.

Johnson Controls International plc, in June 2020, completed the acquisition of Silent-Aire. Silent-Aire specializes in the design, engineering, and manufacturing of mission-critical custom air handlers and modular data centers for hyperscale cloud and colocation providers. Silent-Aire’s portfolio of data center solutions allow for rapid deployment of critical infrastructure in flexible configurations, with a focus on quality, scalability, and speed-to-market.

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