Air Duct Market is set for a Rapid Growth and is expected to Reach USD 5.72 Billion by 2026
Oct 1, 2020 9:58 AM ET iCrowd Newswire – Oct 1, 2020
Zion Market Research has published a new report titled “Air Duct Market Report by Material (Galvanized Steel, Aluminum, Fiberglass, and Polymers), by Application (Corporate offices, Airport & Rapid transit, Retail stores & shopping complexes, Hospitality, Multiplex/Auditorium, Hospitals, Manufacturing): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2026”According to the report, the Air Duct Market accounted for USD 4.5 Billion in 2018 and is expected to reach USD 5.72 Billion by 2026, growing at a CAGR of around 3.05 % between 2019 and 2026.
The global air duct market is expected to observe noticeable growth over the years. They are utilized for ventilation, air conditioning, and heating. The air ducts have properties such as excellent performance, and superior efficiency. Owing to the technological advancements, variety of application and growing demand in the market, the air duct market is projected to grow at a noteworthy rate across the globe. Rising environmental problem as well as health issues related to the poor indoor air quality and awareness pertaining to green buildings concept have created opportunities for the air duct market across the globe. Moreover, the increase in the construction industry in developing economies due to the growth of the service sector has created immense scope for the air duct market within the forecast period.
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The global air duct market has segmented on the basis of the material and application. In terms of the material, the air duct market is segmented into galvanized steel, aluminum, fiberglass, and polymers. The galvanized steel type application segment is anticipated to have maximum market share within the forecast period. This is due to the utilization of the galvanized steel in most of the ducting and also it is suitable for high-temperature applications. The aluminum type application segment is projected to grow at a noticeable rate within the forecast period. Aluminum ducts are often used for kitchen chimney ventilation and light-duty air movement applications. On the basis of the application, the air duct system is segmented into corporate offices, airport & rapid transit, retail stores & shopping complexes, hospitality, multiplex/auditorium, hospitals, manufacturing. The corporate offices type application segment is project to grow at higher pace within the forecast period owing to the huge investments in the service sector. The hospitality and multiplex/auditorium segments are anticipated to have maximum market demand within the forecast timeframe. This is due to the infrastructural supremacy, which provides prestige for hotels, commercial outlets, and restaurants.
The key players in the global air duct market are Set Duct Manufacturing, Zinger Sheet Metal Co., VK Ducting, D&N Duct Solutions, Hennemuth Metal Fabricators, Hamlin Companies, Sisneros Bros. Mfg., Masterduct Inc., Linx Industries ,Tin Man Sheet Metal, M&M Manufacturing, Pinnacle Ductwork, ZECO Aircon Ltd., Turnkey Duct systems, Ducts Inc.,etc.
This report segments the global air duct market as follows:
Global Air Duct Market: Material Segment Analysis
Global Air Duct Market: Application Analysis
Airport & Rapid transit
Retail stores & shopping complexes
Global Air Duct Market: Regional Segment Analysis
Middle East and Africa
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Keywords: Air Duct Market
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