Report : Europe HVAC Air Ducts Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Sheet Metal Ducts, Flexible Non-Metallic Ducts, Fiberglass Duct Boards, and Others) and Application (Commercial, Residential, and Industrial)
According to a new market research study on “Europe HVAC Air Ducts Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Application,” is expected to reach US$ 5,009.27 million by 2028 from US$ 3,547.95 million in 2021. The market is estimated to grow at a CAGR of 5.1% from 2021 to 2028. Increasing number of data centers is the major factor driving the growth of the Europe HVAC air ducts market. However, intense competition from ductless HVAC systems for residential segment hinder the growth of Europe HVAC air ducts market. The report provides trends prevailing in the Europe HVAC air ducts market along with the drivers and restraints pertaining to the market growth.
In 2020, the impact of COVID-19 differed from nation to nation across the European region. In the region, major countries which were affected by the pandemic of COVID-19 are the UK, Italy, Russia, France, Germany, and Spain. Due to increasing number of recorded cases, some of these nations had to impose stringent and longer lockdown along with social isolation. Due to the robust healthcare system, western European countries were less affected as compared to other European countries. To protect the citizens from the deadly virus, the European government authorities made all the required investments for incorporating respective technologies in the healthcare systems to help identify signs of the virus. As per the estimates by the United Nations World Tourism Organization, tourism sector in EU alone suffered economic losses approximately worth EUR 1 billion per month. Thus, the requirement of HVAC air ducts needed at various lodges, hotels motels and resorts decreased considerably. Additionally, in 2021, with easing of respective restrictions and the ongoing vaccination drive, HVAC air ducts market is recovering gradually.
The Europe HVAC air ducts market is segmented on the basis of product type, application, and country. The market, based on product type, is segmented into sheet metal ducts, flexible non-metallic ducts, fiberglass duct boards, and others. The sheet metal ducts segment dominated the Europe HVAC air ducts market in 2020 and flexible non-metallic ducts segment is expected to be fastest growing during forecast period. On the basis of application, the market is segmented into industrial, commercial, and residential. The residential segment dominated the Europe HVAC air ducts market in 2020 and commercial segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the Germany, France, Italy, UK, Russia, and rest of Europe. In 2020, Germany held the largest share Europe HVAC air ducts market.
DuctSox; Lindab; and Waves Aircon Pvt. Ltd. are among the leading companies in the Europe HVAC air ducts market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, DuctSox, a well-recognized manufacturer of air dispersion systems and fabric ductwork produced fabric ductwork systems which can be utilized for medical tents during the pandemic of COVID-19.
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