According to Research by GMI, Air duct market is expected to exceed total market size of more than $5.5 billion by 2025. Growing awareness among the people about energy conservation and regulation of indoor temperatures in buildings is gradually making the deployment of more number of air ducts, having effective shapes, mandatory across the world. This trend is expected to propel the air duct market share over the forecast time span.
Additionally, with several nations across the globe increasingly turning towards implementation of green infrastructure to tackle growing environmental problems, this shift is expected to be one of the leading factors behind air duct market growth in the forthcoming years.
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In fact, the ASEAN organization in collaboration with the Asian Development Bank (ADB) have unveiled a novel service through which approximately $1 billion would be invested in green infrastructure development. This is slated to provide a substantial boost the adoption of the product across various commercial spaces.
The office space application segment of the air duct market is expected to generate a revenue stream of more than $2 billion over the forecast timespan. This momentous growth is primarily being attributed to the growing investment activities across the service sectors, as with the improving educational facilities in several developing nations skilled workers are available at a comparatively lower cost.
Several conglomerates are investing as well as outsourcing their respective backend operations in these countries, which is further giving rise to office constructions. Air ducts are utilized in these premises to offer comfortable work environment to all the individuals working there. These factors are further likely to propel the air duct industry trends over the coming years.
In terms of material, galvanized steel ducts segment are slated to showcase a respectable rate of annual growth in the market; approximately about 3% from 2019 to 2025. Galvanized steel has special properties that allow the material to be easily converted into a varied array of shapes like rectangular, round and oval, a level of versatility that would further propel market demand in the future.
The Europe Air Duct Market is anticipated to witness an exponential amount of growth during the projected timeframe. In fact, Europe is expected to hold more than 22% of the total air duct market volume share over the forecast time span. The projected growth in the region is being attributed to the high level of demand for numerous ventilation, centralized cooling and heating systems.
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Moreover, the high standard of living of people in Europe is another prominent factor that would further drive the growth of the air duct market. This is particularly because thermal comfort is a major priority for the European population, as some of the countries in the Europe experience extreme cold weather throughout the year while some of them experience hot weather conditions or summers.
Thus, utilization of the product across various sectors in the European market like airports/rapid transit infrastructures, multiplexes/auditoriums, and hospitals among others is necessary to maintain habitable temperatures, further augmenting the air duct market outlook.
Some of the prominent industry players making significant contributions to the air duct market share are Set Duct Manufacturing, Hennemuth Metal Fabricators, D&N Duct, Zinger Sheet Metal Co., Sisneros Bros. Mfg., Hamlin Companies, Linx Industries, Inc., M&M Manufacturing, Tin Man Sheet Metal, Masterduct, Inc., Pinnacle, VK Ducting, Turnkey Duct, ZECO Aircon Ltd., and Ducts, Inc., among others.
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