Variable Air Volume (VAV) Systems Market worth $16.0 billion by 2024

The report "Variable Air Volume (VAV) Systems Market by Type (Single-duct VAV, Dual-duct VAV, Induction VAV, Fan-powered VAV), Application (Commercial building, Industrial building, Residential building), and Region - Global Forecast to 2024"The variable air volume (VAV) systems market is expected to grow from USD 11.8 billion in 2019 to USD 16.0 billion by 2024, at a CAGR of 6.3 % during the forecast period. The major factors driving the variable air volume (VAV) systems market include increasing construction activities, globally and rising awareness for reducing energy consumption.

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Key Market Players -

The major vendors in the polyurethane dispersion market are, Ingersoll Rand (Ireland), Honeywell International Ltd (US), United Technologies Corporation (US), Daikin Industries Ltd.(Japan), Johnson Controls(US), Siemens(Germany), Emerson Electric Co(US),TROX(Germany), DAIKIN INDUSTRIES, Ltd.,(Japan),KMC Controls(US), Barcol Air Ltd(Switzerland).

Commercial buildings application segment accounts for the largest market size during the forecast period

The commercial buildings segment is increasing owing to the rising demand for variable air volume (VAV) systems in the hospitality sector, retail sector, offices, and warehouses. The countries in the Middle East and Africa, such as the UAE and Saudi Arabia, are emerged as lucrative locations for the hospitality sector, retail sector. Hence, global investors are commencing their operating units in these countries. All such attributes are fueling the installations of variable air volume (VAV) systems in the commercial buildings application segment

By type, the single-duct VAV systems are expected to be the largest contributor in the market during the forecast period.

Based on type, the variable air volume (VAV) systems segment is likely to account for the largest share of the market in 2019. The growth of single-dut VAV systems segment is spurred by its growing demand in industrial buildings applications, especially in countries like China, India, Southeast Asia.

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