Asia Pacific HVAC Air Ducts Market Developments and Forecast by 2028
Asia Pacific HVAC Air Ducts Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Sheet Metal Ducts, Flexible Non-Metallic Ducts, Fiberglass Duct Boards, and Others) and Application (Commercial, Residential, and Industrial)
- Status : Published
- Report Code : TIPRE00026100
- Category : Manufacturing and Construction
- No. of Pages : 86
- Available Report Formats :
- Last update date : December 08, 2021
2021 Market Size
US$ 5,901.65 Mn
Base year value
2028 Forecast
US$ 7,635.18 Mn
Projected by 2028
CAGR 2022-2028
3.7 %
Growth rate
Addressable Market
US$ 47,899.66 Mn
(2022-2028)
The Asia Pacific HVAC air ducts market is expected to grow from US$ 5,901.65 million in 2021 to US$ 7,635.18 million by 2028; it is estimated to grow at a CAGR of 3.7% from 2021 to 2028.
The growing application of geothermal heat pumps (GHP) across residential and commercial buildings is providing lucrative opportunities for HVAC air ducts manufacturers. Geothermal heat pumps are gaining popularity in the market, owing to their highly efficient renewable energy technology, which provides both heating and cooling by using stable temperatures from the earth. A GHP system is a central heating or cooling system that pumps heat to or from the ground. It uses the earth as a heat source (in the winter) or a heat sink (in the summer). This is a technology that is gaining wide acceptance for both residential and commercial buildings. The technology is widely used for heating and cooling for premises, and its wide acceptance in coming years is expected to increase the demand for HVAC air ducts across Asia Pacific.As per the Organization for Economic Co-operation and Development (OECD), the COVID-19 pandemic significantly affected economies such as India, Australia, and Japan. Due to inadequate health and medicine facilities, government authorities imposed restrictions at production sites. Also, in some nations, the transport of non-essential commodities and goods was restricted. As per the Purchasing Managers' Index surveys, manufacturing indices in Vietnam, Indonesia, and the Philippines fell considerably. Due to movement restrictions, various companies introduced work from home to their employees where it was possible. This impacted the demand for corporate HVAC air ducts severely. In 2021, with more people getting vaccinated and easing of pandemic restrictions, many industries have resumed operations. Therefore, the HVAC air ducts market in Asia Pacific is anticipated to grow promisingly after the pandemic.
Asia Pacific HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Asia Pacific HVAC Air Ducts Market By Product Type
- Sheet Metal Ducts
- Flexible Non-Metallic Ducts
- Fiberglass Duct Boards
- Others
- Commercial
- Residential
- Industrial
- Australia
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- DuctSox
- Lindab
- Waves Aircon Pvt. Ltd.
- V. K. STEEL
Asia Pacific HVAC Air Ducts Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 5,901.65 Million |
| Market Size by 2028 | US$ 7,635.18 Million |
| CAGR (2021 - 2028) | 3.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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