Le Lézard
Classified in: Covid-19 virus
Subject: MRR

Air Duct Market to Accrue $22.7 Bn, Globally, by 2031 at 4.8% CAGR: Allied Market Research


Rise in customer awareness pertaining to power conservation, enhanced thermal comfort, and energy efficiency to drive the growth of the global air duct market.

PORTLAND, Ore., Oct. 6, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Air Duct Market by Material (Metallic, Non-metallic), by Installation Type (New Installation, Retrofits), by End Use Industry (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global air duct industry was estimated at $13.9 billion in 2021, and is set to reach $22.7 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Allied Market Research


Download Free Sample Report (220 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/9971

Drivers, restraints, and opportunities

Rise in customer awareness pertaining to power conservation, enhanced thermal comfort, and energy efficiency to drive the growth of the global air duct market. Furthermore, huge applications of aluminum ducts in kitchen chimney ventilation will boost market trends across the globe. Apart from this, air duct offer high insulation and flexibility and hence are popular in residential and commercial constructions. This, in turn, has created new growth opportunities for the global market. Nevertheless, the massive acceptance of ductless devices has posed a threat to the growth of the global industry.

Covid-19 scenario:

The metallic segment to dominate the global market in terms of revenue in 2031

Based on the material, the metallic segment is set to contribute the highest market share in 2021, accounting for fourth-fifths of the global air duct market share. Furthermore, the segment is projected to contribute majorly toward the global market share during the forecast period. The growth of the segment over the forecast timeframe can be attributed to the rise in the construction of commercial and residential buildings across the globe and the massive use of metallic material for its construction. However, the non-metallic segment is slated to register the highest CAGR of 5.7% during the forecast timespan. The segmental growth over the forecast timeline can be credited to beneficial features of the non-metallic material such as thermal insulation, excellent sound absorption, fire resistance, and rigidity.

The new installation segment to hold the major market share over 2022-2031

On basis of installation type, the new installation segment contributed to the highest market share in 2021, accounting for nearly three-fifths of the global air duct market share. Furthermore, the same segment is anticipated to dominate the market growth over the forecast period. The growth of the segment over the forecast timeline can be attributed to the rampantly growing population and rapid urbanization across the globe. However, the retrofits segment is predicted to record the fastest CAGR of 4.9% over the forecast period. The growth of the segment over the forecast timeline can be due to the huge application of HVAC equipment in the food processing and pharmaceutical sectors leading to wear and tear of the equipment and generating the requirement for retrofitting.

The commercial segment to dominate the global market by 2031

In terms of the end-user industry, the commercial segment contributed to the highest market share in 2021, accounting for more than two-fifths of the global air duct market share. Moreover, the same segment is set to make notable contributions toward the global market share in 2031. The segmental growth over 2022-2031 can be attributed to rise in the construction of new official buildings, railway stations, and commercial complexes. However, the residential segment is predicted to register the fastest CAGR of 5.4% during the forecast timeline. The segmental growth over the forecast timeframe can be attributed to the rise in the disposal income of the global population.

Purchase Inquiry:
https://www.alliedmarketresearch.com/purchase-enquiry/9971

Asia-Pacific to retain global market domination over 2022-2031

By Region, Asia-Pacific contributed notably toward the global air duct market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for nearly half of the global air duct market share in 2021. The growth of the market in the region over the forecast timespan can be credited to the increase in industrialization and swift urbanization in countries such as China, India, Vietnam, and Indonesia paving way for a huge demand for construction activities. However, the LAMEA air duct market is set to record the highest CAGR of 5.9% during 2022-2031. The growth of the regional market over the forecast period can be credited to the prominent demand for air ducts across the residential and commercial sectors.

Major market players

The report analyzes these key players in the global air duct market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.    

Trending Reports in Railway Maintenance Machinery Industry (Book Now with 10% Discount):

HVAC Control Market is projected to reach $24,575.3 million by 2030 | At a CAGR of 5.5%

HVAC electronics market is projected to reach $38 billion by 2031

HVAC chillers market is projected to reach $15 billion by 2031| At a CAGR of 4.5%

Global air quality control systems market is projected to reach $144,091.2 million by 2026| With a CAGR of 5.2%.

Global air suspension compressor market is projected to reach $3,909.1 million by 2030 | At a CAGR of 6.9%

HVAC Air Quality Monitoring Market: Global Opportunity Analysis and Industry Forecast, 2022-2029

Warm Air Heating Equipment Market Opportunity Analysis and Industry Forecast, 2021-2030

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/construction-and-manufacturing
Follow Us on Blog: https://www.marketinshort.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg


These press releases may also interest you

at 00:25
Shanghai Junshi Biosciences Co., Ltd ("Junshi Biosciences," HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced its financial...

28 mar 2024
The "Global Clinical In Vitro Diagnostic Medical Laboratory Services Market: Strategy & Trends with Volume & Price Forecasts by Chemistry, Hematology, Microbiology, Pathology, Covid-19, and Molecular Dx by Country. Updated with Impact of COVID-19"...

28 mar 2024
Discovery Silver Corp. ("Discovery" or the "Company") today announced financial results for the three and twelve months ended December 31, 2023 ("Q4 2023" and "2023", respectively). The Company also provided a summary of key events since the...

28 mar 2024
The "Molecular Diagnostics at the Point of Care. By Application, Technology, Place, Product and by Country. With Executive Guides and Customization 2023 - 2027 " report has been added to  ResearchAndMarkets.com's offering. Infectious disease Dx is...

28 mar 2024
The "Whole Genome and Exome Sequencing Markets by Application, Organism and Product with Executive and Consultant Guides. Includes Direct to Consumer Analysis. 2023 to 2027" report has been added to  ResearchAndMarkets.com's offering. Will all...

28 mar 2024
Boat Rocker Media Inc. ("Boat Rocker" or the "Company") , an independent, integrated global entertainment company, today reported its financial results for the three months ended December 31, 2023 ("fourth quarter" or "Q4") and for the year ended...



News published on and distributed by: