Air conditioning and ventilation are gaining importance in residential, commercial, and industrial spaces due to the COVID-19 pandemic. With workplaces and offices slowly returning to site following the ease of lockdown restrictions in several countries, managers are adhering to government guidelines around the safe operation & maintenance of air conditioning systems at workplaces. Such trends are translating into revenue opportunities for companies in the North America fan coils market, since these guidelines are stressing on the importance of local fan coil units that help to maximize the air exchange rate.
Employers are taking recommendations from HVAC (Heating, Ventilation and Air Conditioning) engineers to solve concerns surrounding the safe operation of HVAC systems. Though companies in the North America fan coils market may have experienced a dip in sales during the peak of the pandemic, mass vaccination, and ease in lockdown restrictions are anticipated to revive market growth.
Chilled water fan coil units and air-cooled heat pumps are being preferred in overall system design for high-rise residential development. The revenue of residential end users is predicted to grow at an exponential rate as compared to commercial and industrial end users. However, the complexity of chilled water fan coil units involves multiple pipe systems, pumps, and the chiller, which requires skilled maintenance. The chilled water pipes can pose a condensation issue, if they are not properly insulated throughout the building. As compared to refrigerant-based systems, chilled water fan coil units are found to be a better option, since there are limitations on how much refrigerant a building can contain.
Since F-Gas regulations require frequent inspection of pipework joints, which can be a costly affair, chilled water systems are a better option with the help of inert liquid, which eliminates the need for additional requirements.
The North America fan coils market is expected to grow at a modest CAGR of ~4% during the forecast period. Manufacturers are building their system portfolio in various installations such as ceiling-mounted, floor-mounted, duct, and cassette fan coils. They are increasing the availability of ceiling mounted fan coils that include high efficiency brushless motors. Manufacturers in the North America fan coils market are using attractively designed casing for fan coils suitable for residential heating and air conditioning applications.
Careful design of main components, refined styling, and versatility in fan coils are being favored by stakeholders in residential, commercial, and industrial sectors.
Compact and concealed fan coil units are being developed by manufacturers in the North America fan coils market. Carrier Global Corporation - a U.S. multinational home appliances corporation is promoting its Idrofan concealed fan coil units that can be used for false ceiling applications. Easy installation and maintenance are key demands of end users. Compact and modular ducted units are being designed for false ceiling applications. This explains why the North America fan coils market is estimated to reach ~2,313 thousand units by 2031.
Manufacturers in the North America fan coils market are offering concealed fan coil units that are reliable and economical in tertiary buildings such as hotel guest rooms, offices, and light commercial applications. Standard and low noise versions are being available in concealed fan coils. On the other hand, hydraulic ducted fan coils are acquiring popularity for their low energy consumption and extremely quiet operation.
Hydronic water terminals are being used to transform fan coils that are not only standard, but are also customized function of the air conditioning requirements of customers. BiniClima - an air conditioning system supplier in Rovereto, Italy, is putting together its design, production, and commerce of hydronic water terminals to develop fan coils that can be customized as per specific air conditioning requirements. Companies in the North America fan coils market are bolstering their production capabilities in underfloor fan coils, ceiling fan coils, and fan coils with floor covering.
Cassette with innovative designs and optimal air distribution in the environment are being preferred. This explains why cassette fan coils are predicted to register the highest revenue among all orientation types in the North America fan coils market.
Smart fan coils are storming the North America fan coils market. Panasonic after having a strategic partnership with Systemair to develop sustainable HVAC&R solutions, is increasing focus in smart fan coils that deliver optimum comfort, low energy consumption, and flexible installation for horizontal or vertical applications. Apart from performance, aesthetic design in smart fan coils is being preferred by customers. Manufacturers in the fan coils market are innovating in stylish floor-standing fan coils with advanced controllers to boost machine uptake.
Since the revenue of residential sector is expected to advance at a rapid rate, manufacturers are increasing the availability of aesthetically-sound fan coils that easily blend into homes. Elegant design and product refinements are becoming important requirements in fan coil production.
Vertical high-rise fan coils are being developed by manufacturers in the North America fan coils market. They have entered the competition to achieve energy efficiency, optimum indoor air quality (IAQ), flexibility, and the likes to gain an edge over other manufacturers. The serviceability of vertical high-rise fan coils is involving touch-safe control boxes, integrated user interface with real language LED display, and built-in tachometer, among others, which is helping stakeholders to stand out from other products and machines currently available in the market.
In order to boost credibility credentials, manufacturers are conducting air and leak tests of coils & piping packages before mounting on the fan coil. On the other hand, greater design flexibility is being achieved with two and four-pipe systems. Manufacturers are increasing efforts to incorporate latest technology electronically commutated motors (ECMs) for achieving energy efficiency and extended motor life.
Analysts’ Viewpoint
Employers now have a legal duty to ensure adequate supply of fresh air in commercial workspaces in the light of the COVID-19 pandemic. HVAC engineers are advising employers and floor managers to avoid recirculation of air between spaces, rooms or zones occupied by different people to prevent the spread of COVID-19. However, chilled water fan coil units are under scrutiny for increased cost and complexity as a result of high maintenance in centralized heating & cooling plants. Companies in the North America fan coils market should tap into high demand areas such as the alternative to refrigerant-based system, since the latter has high global warming potential.
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.3. Key Trends Analysis
5.3.1. Demand Side Analysis
5.3.2. Supply Side Analysis
5.4. Key Market Indicators
5.4.1. HVAC Industry Overview
5.5. Covid-19 Impact Analysis
5.6. Regulatory Framework
5.7. Porter’s Five Forces Analysis
5.8. Value Chain Analysis
5.9. Industry SWOT Analysis
5.10. North America Fan Coils Market Analysis and Forecast, 2017 - 2031
5.10.1. Market Revenue Projections (US$ Mn)
5.10.2. Market Revenue Projections (000’ Units)
6. North America Fan Coils Market Analysis and Forecast, By Design Type
6.1. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By Design Type, 2017 - 2031
6.1.1. Regular
6.1.2. Compact
6.2. Incremental Opportunity, By Design Type
7. North America Fan Coils Market Analysis and Forecast, By Configuration
7.1. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By Configuration, 2017 - 2031
7.1.1. Two Pipe
7.1.2. Four Pipe
7.2. Incremental Opportunity, By Configuration
8. North America Fan Coils Market Analysis and Forecast, By Orientation
8.1. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By Orientation, 2017 - 2031
8.1.1. Cassette Fan Coils
8.1.2. Horizontal Fan Coils
8.1.3. Vertical Fan Coils
8.1.4. Wall Mounted Fan Coils
8.2. Incremental Opportunity, By Orientation
9. North America Fan Coils Market Analysis and Forecast, By End-user
9.1. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By End User, 2017 - 2031
9.1.1. Residential
9.1.2. Commercial
9.1.2.1. Office Spaces
9.1.2.2. Hotels
9.1.2.3. Restaurants
9.1.2.4. Hospitals
9.1.2.5. Retail
9.1.2.6. Others
9.1.3. Industrial
9.2. Incremental Opportunity, By End User
10. North America Fan Coils Market Analysis and Forecast, by Country & Sub-region
10.1. Fan Coils Market Size (US$ Mn, 000’ Units) (000’ Units), by Country & Sub-region, 2017 - 2031
10.1.1. U.S
10.1.2. Canada
10.1.3. Rest of North America
10.2. Incremental Opportunity, by Country
11. U.S. Fan Coils Market Analysis and Forecast
11.1. Country Snapshot
11.2. Key Trends
11.3. Price Trend Analysis
11.3.1. Weighted Average Selling Price ($)
11.4. COVID-19 Impact Analysis
11.5. Key Supplier Analysis
11.6. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By Design Type, 2017 - 2031
11.6.1. Regular
11.6.2. Compact
11.7. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By Configuration, 2017 - 2031
11.7.1. Two Pipe
11.7.2. Four Pipe
11.8. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By Orientation, 2017 - 2031
11.8.1. Cassette Fan Coils
11.8.2. Horizontal Fan Coils
11.8.3. Vertical Fan Coils
11.8.4. Wall Mounted Fan Coils
11.9. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By End-user, 2017 - 2031
11.9.1. Residential
11.9.2. Commercial
11.9.2.1. Office Spaces
11.9.2.2. Hotels
11.9.2.3. Restaurants
11.9.2.4. Hospitals
11.9.2.5. Retail
11.9.2.6. Others
11.9.3. Industrial
11.10. Incremental Opportunity Analysis
12. Canada Fan Coils Market Analysis and Forecast
12.1. Country Snapshot
12.2. Key Trends
12.3. Price Trend Analysis
12.3.1. Weighted Average Selling Price ($)
12.4. COVID-19 Impact Analysis
12.5. Key Supplier Analysis
12.6. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By Design Type, 2017 - 2031
12.6.1. Regular
12.6.2. Compact
12.7. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By Configuration, 2017 - 2031
12.7.1. Two Pipe
12.7.2. Four Pipe
12.8. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By Orientation, 2017 - 2031
12.8.1. Cassette Fan Coils
12.8.2. Horizontal Fan Coils
12.8.3. Vertical Fan Coils
12.8.4. Wall Mounted Fan Coils
12.9. Fan Coils Market Size (US$ Mn, 000’ Units) Forecast, By End-user, 2017 - 2031
12.9.1. Residential
12.9.2. Commercial
12.9.2.1. Office Spaces
12.9.2.2. Hotels
12.9.2.3. Restaurants
12.9.2.4. Hospitals
12.9.2.5. Retail
12.9.2.6. Others
12.9.3. Industrial
12.10. Incremental Opportunity Analysis
13. Competition Landscape
13.1. Market Player – Competition Dashboard
13.2. Market Share Analysis - 2020
13.3. Company Profiles (Details – Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview)
13.3.1. Carrier Corporation
13.3.1.1. Company Overview
13.3.1.2. Sales Area/Geographical Presence
13.3.1.3. Revenue
13.3.1.4. Strategy & Business Overview
13.3.2. Daikin Industries, Ltd.
13.3.2.1. Company Overview
13.3.2.2. Sales Area/Geographical Presence
13.3.2.3. Revenue
13.3.2.4. Strategy & Business Overview
13.3.3. Trane Inc.
13.3.3.1. Company Overview
13.3.3.2. Sales Area/Geographical Presence
13.3.3.3. Revenue
13.3.3.4. Strategy & Business Overview
13.3.4. Williams Corporation
13.3.4.1. Company Overview
13.3.4.2. Sales Area/Geographical Presence
13.3.4.3. Revenue
13.3.4.4. Strategy & Business Overview
13.3.5. Zehnder Group
13.3.5.1. Company Overview
13.3.5.2. Sales Area/Geographical Presence
13.3.5.3. Revenue
13.3.5.4. Strategy & Business Overview
13.3.6. Siemens AG
13.3.6.1. Company Overview
13.3.6.2. Sales Area/Geographical Presence
13.3.6.3. Revenue
13.3.6.4. Strategy & Business Overview
13.3.7. IEC
13.3.7.1. Company Overview
13.3.7.2. Sales Area/Geographical Presence
13.3.7.3. Revenue
13.3.7.4. Strategy & Business Overview
13.3.8. Refra
13.3.8.1. Company Overview
13.3.8.2. Sales Area/Geographical Presence
13.3.8.3. Revenue
13.3.8.4. Strategy & Business Overview
13.3.9. AERMEC
13.3.9.1. Company Overview
13.3.9.2. Sales Area/Geographical Presence
13.3.9.3. Revenue
13.3.9.4. Strategy & Business Overview
13.3.10. Johnson Controls
13.3.10.1. Company Overview
13.3.10.2. Sales Area/Geographical Presence
13.3.10.3. Revenue
13.3.10.4. Strategy & Business Overview
13.3.11. Crane Co.
13.3.11.1. Company Overview
13.3.11.2. Sales Area/Geographical Presence
13.3.11.3. Revenue
13.3.11.4. Strategy & Business Overview
13.3.12. LG electronics
13.3.12.1. Company Overview
13.3.12.2. Sales Area/Geographical Presence
13.3.12.3. Revenue
13.3.12.4. Strategy & Business Overview
14. Key Takeaways
14.1. Identification of Potential Market Spaces
14.2. Prevailing Market Risks
List of Tables
Table 1: North America Fan Coils Market Volume Size and Forecast, By Orientation, Units, 2017 - 2031
Table 2: North America Fan Coils Market Value Size and Forecast, By Orientation, US$ Mn, 2017 - 2031
Table 3: North America Fan Coils Market Volume Size and Forecast, By Configuration, Units, 2017 - 2031
Table 4: North America Fan Coils Market Value Size and Forecast, By Configuration, US$ Mn, 2017 - 2031
Table 5: North America Fan Coils Market Volume Size and Forecast, By Design Type, Units, 2017 - 2031
Table 6: North America Fan Coils Market Value Size and Forecast, By Design Type, US$ Mn, 2017 - 2031
Table 7: North America Fan Coils Market Volume Size and Forecast, By End-User, Units, 2017 - 2031
Table 8: North America Fan Coils Market Value Size and Forecast, By End-User, US$ Mn, 2017 - 2031
Table 9: North America Fan Coils Market Volume Size and Forecast, By Country, Units, 2017 - 2031
Table 10: North America Fan Coils Market Value Size and Forecast, By Country, US$ Mn, 2017 - 2031
Table 11: U.S. Fan Coils Market Volume Size and Forecast, By Orientation, Units, 2017 - 2031
Table 12: U.S. Fan Coils Market Value Size and Forecast, By Orientation, US$ Mn, 2017 - 2031
Table 13: U.S. Fan Coils Market Volume Size and Forecast, By Configuration, Units, 2017 - 2031
Table 14: U.S. Fan Coils Market Value Size and Forecast, By Configuration, US$ Mn, 2017 - 2031
Table 15: U.S. Fan Coils Market Volume Size and Forecast, By Design Type, Units, 2017 - 2031
Table 16: U.S. Fan Coils Market Value Size and Forecast, By Design Type, US$ Mn, 2017 - 2031
Table 17: U.S. Fan Coils Market Volume Size and Forecast, By End-User, Units, 2017 - 2031
Table 18: U.S. Fan Coils Market Value Size and Forecast, By End-User, US$ Mn, 2017 - 2031
Table 19: Canada Fan Coils Market Volume Size and Forecast, By Orientation, Units, 2017 - 2031
Table 20: Canada Fan Coils Market Value Size and Forecast, By Orientation, US$ Mn, 2017 - 2031
Table 21: Canada Fan Coils Market Volume Size and Forecast, By Configuration, Units, 2017 - 2031
Table 22: Canada Fan Coils Market Value Size and Forecast, By Configuration, US$ Mn, 2017 - 2031
Table 23: Canada Fan Coils Market Volume Size and Forecast, By Design Type, Units, 2017 - 2031
Table 24: Canada Fan Coils Market Value Size and Forecast, By Design Type, US$ Mn, 2017 - 2031
Table 25: Canada Fan Coils Market Volume Size and Forecast, By End-User, Units, 2017 - 2031
Table 26: Canada Fan Coils Market Value Size and Forecast, By End-User, US$ Mn, 2017 - 2031
List of Figures
Figure 1: North America Fan Coils Market Volume Size and Forecast, By Orientation, Units, 2017 - 2031
Figure 2: North America Fan Coils Market Value Size and Forecast, By Orientation, US$ Mn, 2017 - 2031
Figure 3: North America Fan Coils Market Incremental Opportunity, By Orientation, US$ Mn, 2021 - 2031
Figure 4: North America Fan Coils Market Volume Size and Forecast, By Configuration, Units, 2017 - 2031
Figure 5: North America Fan Coils Market Value Size and Forecast, By Configuration, US$ Mn, 2017 - 2031
Figure 6: North America Fan Coils Market Incremental Opportunity, By Configuration, US$ Mn, 2021 - 2031
Figure 7: North America Fan Coils Market Volume Size and Forecast, By Design Type, Units, 2017 - 2031
Figure 8: North America Fan Coils Market Value Size and Forecast, By Design Type, US$ Mn, 2017 - 2031
Figure 9: North America Fan Coils Market Incremental Opportunity, By Design Type, US$ Mn, 2021 - 2031
Figure 10: North America Fan Coils Market Volume Size and Forecast, By End-User, Units, 2017 - 2031
Figure 11: North America Fan Coils Market Value Size and Forecast, By End-User, US$ Mn, 2017 - 2031
Figure 12: North America Fan Coils Market Incremental Opportunity, By End-User, US$ Mn, 2021 - 2031
Figure 13: North America Fan Coils Market Volume Size and Forecast, By Country, Units, 2017 - 2031
Figure 14: North America Fan Coils Market Value Size and Forecast, By Country, US$ Mn, 2017 - 2031
Figure 15: North America Fan Coils Market Incremental Opportunity, By Country, US$ Mn, 2021 - 2031
Figure 16: U.S. Fan Coils Market Volume Size and Forecast, By Orientation, Units, 2017 - 2031
Figure 17: U.S. Fan Coils Market Value Size and Forecast, By Orientation, US$ Mn, 2017 - 2031
Figure 18: U.S. Fan Coils Market Incremental Opportunity, By Orientation, US$ Mn, 2021 - 2031
Figure 19: U.S. Fan Coils Market Volume Size and Forecast, By Configuration, Units, 2017 - 2031
Figure 20: U.S. Fan Coils Market Value Size and Forecast, By Configuration, US$ Mn, 2017 - 2031
Figure 21: U.S. Fan Coils Market Incremental Opportunity, By Configuration, US$ Mn, 2021 - 2031
Figure 22: U.S. Fan Coils Market Volume Size and Forecast, By Design Type, Units, 2017 - 2031
Figure 23: U.S. Fan Coils Market Value Size and Forecast, By Design Type, US$ Mn, 2017 - 2031
Figure 24: U.S. Fan Coils Market Incremental Opportunity, By Design Type, US$ Mn, 2021 - 2031
Figure 25: U.S. Fan Coils Market Volume Size and Forecast, By End-User, Units, 2017 - 2031
Figure 26: U.S. Fan Coils Market Value Size and Forecast, By End-User, US$ Mn, 2017 - 2031
Figure 27: U.S. Fan Coils Market Incremental Opportunity, By End-User, US$ Mn, 2021 - 2031
Figure 28: Canada Fan Coils Market Volume Size and Forecast, By Orientation, Units, 2017 - 2031
Figure 29: Canada Fan Coils Market Value Size and Forecast, By Orientation, US$ Mn, 2017 - 2031
Figure 30: Canada Fan Coils Market Incremental Opportunity, By Orientation, US$ Mn, 2021 - 2031
Figure 31: Canada Fan Coils Market Volume Size and Forecast, By Configuration, Units, 2017 - 2031
Figure 32: Canada Fan Coils Market Value Size and Forecast, By Configuration, US$ Mn, 2017 - 2031
Figure 33: Canada Fan Coils Market Incremental Opportunity, By Configuration, US$ Mn, 2021 - 2031
Figure 34: Canada Fan Coils Market Volume Size and Forecast, By Design Type, Units, 2017 - 2031
Figure 35: Canada Fan Coils Market Value Size and Forecast, By Design Type, US$ Mn, 2017 - 2031
Figure 36: Canada Fan Coils Market Incremental Opportunity, By Design Type, US$ Mn, 2021 - 2031
Figure 37: Canada Fan Coils Market Volume Size and Forecast, By End-User, Units, 2017 - 2031
Figure 38: Canada Fan Coils Market Value Size and Forecast, By End-User, US$ Mn, 2017 - 2031
Figure 39: Canada Fan Coils Market Incremental Opportunity, By End-User, US$ Mn, 2021 – 2031
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Fan Coils Market
