Variable Air Volume Box Market – Overview
The single duct variable air volume box segment is mainly dominant across the global market. The ability to control the zonal temperature and the overall cost efficiency of the single duct variable air volume box is making it highly popular across its end users. In addition to this, the increasing need for energy conservation is also helping to push the uptake of single duct variable air volume box in smaller regions such as dorms, offices, retail stores, and classrooms among others.
On the other hand, commercial building is expected to be the biggest application of the variable air volume box. These systems are increasingly installed across malls, commercial buildings, large offices, and hotel among others.
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Variable Air Volume Box Market – Notable Developments
Some of the recent developments in the global variable air volume box market are mentioned below:
- In June 2017, Japan’s leading company in variable air volume box market, Daikin Industries, announced that its subsidiary, Daikin Australia Pvt. Ltd., has successfully acquired Airmaster Corporation Pvt. Ltd. (Australia). Airmaster Corporation is a prominent name in the global air conditioning equipment market. With this takeover, Daikin Industries has further strengthened its HVAC product portfolio as well as its brand positioning in the Australia Market.
- In March 2019, Trox GmbH announced that the company has agreed to sign a joint venture agreement with an Egyptian air conditioning supplier and manufacturer – Tiba El Manzalawi Group. With this agreement, Trox is aiming to serve the growing Egyptian market as well as gain entry in the other promising markets in the Middle East and Africa.
- In May 2019, Trox launched a new variable air volume box terminal unit. The brand was named was TVE. The company provided this new terminal unit with a unique damper blade that was specifically designed to monitor and measure the air volume flow. This new design allowed in cutting down the length and helped in ensuring maintaining precision in terms of measurement while monitoring unfavorable conditions.
Variable Air Volume Box Market – Drivers and Restraints
There are several important factors that are helping to drive the overall development of the global variable air volume box market. One of the key driving factors for the variable air volume box market growth is the substantial growth in the construction activities across the globe. Due to its compact nature it is easier to install a variable air volume box and maintain a proper air flow in the building. This has led to its increased adoption in the construction industry and thus fueled its growth across the globe. In addition to this, variable air volume box offers variety of benefits such as low sound, lower energy consumptions, and high cost efficiency. Such benefits have also helped in upscaling its adoption across a wide range of end use applications and has thus ultimately helped in driving the growth of the global variable air volume box market.
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Variable Air Volume Box Market – Geographical Outlook
The global variable air volume box market is primarily divided into five key regions viz. North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, the global market is mainly dominated by North America region. This global dominance is due to developing healthcare construction industry in the US market followed by Canada and Mexico. Further, increased spending on the development of both private and public infrastructure is also helped in the growth of the North America variable air volume box market.
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The following regional segments are covered comprehensively:
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- Latin America
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2. What value propositions should businesses aim at while making new research and development funding?
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4. Which regions might see the demand maturing in certain segments in near future?
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