North America 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)
Market Introduction
The HVAC air duct market in North America is segmented into the US, Canada, and Mexico. North America is seeing a major increase in the implementation of smart home and smart city programs which is another factor driving the market growth. In addition, the government in the region is also encouraging the adoption of smart cities which will support the market growth. Moreover, North America is expected to provide lucrative opportunities to the market during the forecast period due to the growing number of construction activities and rising demand for HVAC air ducts in both residential and commercial buildings across the region. The major market share of this region is mainly attributed to the rapidly growing construction industry, increasing industrialization, and rising consumer inclination toward a healthy indoor environment. Additionally, growing airport expansion activities along with rising construction activities for office spaces, retail stores & shopping complexes, and hospitals are driving the market growth. The United States Department of Energy (DOE) is heavily investing in improving energy efficiency standards throughout the country. The DOE's mission is to ensure America's security and prosperity by addressing its environmental, energy, and nuclear challenges through transformative science and technology solutions. Furthermore, green HVAC systems are being developed to improve energy efficiency and bring down costs. For instance, Ice Energy, based out of Glendale, California, released an ice-powered air-conditioning unit called the Ice Bear, to cool buildings and, in most cases, reduce a building's total net energy consumption. This rising adoption of HVAC system will also drive the market growth of HVAC air duct in the region.
In case of COVID-19, North America is highly affected specially the US. North America is one of the most prominent regions with respect to the adoption of HVAC air ducts. Demand for HVAC air ducts is relatively high in countries such as the United States, Canada, and Mexico. The US and Canada are among the major markets for HVAC air ducts due to the presence of large-scale electronics & semiconductor, food & beverages, and hospitality industry. The demand was lowered owing to quarantine, business closures and government restrictions. Smartphones industry in the United States experienced a considerable decline in their sales. In electronics industry, HVAC air ducts are widely used to maintain the required temperature of the space. With lower production of electronic gadgets, demand for respective HVAC air ducts also suffered proportionally. Owing to the international travel ban, tourism industry suffered significantly in Mexico as well as Canada. This impacted the sales of HVAC air ducts required at various gyms, hotels, restaurants, theaters, theme parks etc. As per the HARDI (Heating Air-conditioning & Refrigeration Distributors International), the HVAC distributors witnessed about 19% decline in HVAC orders in April 2020 as compared to previous financial year. With lower demand and restrictions of limited workforce at production site, the HVAC air ducts market in the North America is also affected from the supply side.
Market Overview and Dynamics
The North America HVAC air ducts market is expected to grow from US$ 2,135.43 million in 2021 to US$ 2,874.11 million by 2028; it is estimated to grow at a CAGR of 4.3% from 2021 to 2028. The evolving technology in HVAC systems is expected to spur the demand for HVAC air ducts soon. The rising adoption of advanced technologies such as the internet of things (IoT) in HVAC systems is expected to fuel the growth of the HVAC air ducts market during the forecast period. The new HVAC technologies which use IoT are embedded with sensors, software that enables the HVAC system to exchange data with other connected devices. IoT systems are expected to improve preventative maintenance by sensing data on air quality and equipment status. The IoT technology will also bring more automation in HVAC systems by integrating their functions with other virtual assistant devices such as Alexa to change the temperature through the voice. Hence, with the advent of IoT in HVAC systems, these systems are expected to provide predictive service maintenance alerts to users before any real issue occurs. Also, there will be more automation features in HVAC systems. Thus, the above-mentioned technological trends are expected to increase the demand for HVAC systems, thereby fueling the growth of the North America HVAC air ducts market.
Key Market Segments
In terms of product type, the sheet metal ducts segment accounted for the largest share of the North America HVAC air ducts market in 2020. In terms of application, the residential segment held a larger market share of the North America HVAC air ducts market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America HVAC air ducts market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are DuctSox; Hennemuth Metal Fabricators; Lindab; M&M Manufacturing; SetDuct; TIN MAN SHEET METAL FABRICATION, LLC; TurnKey Duct Systems; US Duct; and Waves Aircon Pvt. Ltd.
Reasons to buy report
- To understand the North America HVAC air ducts market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America HVAC air ducts market
- Efficiently plan M&A and partnership deals in North America HVAC air ducts market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America HVAC air ducts market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America HVAC Air Ducts Market Segmentation
North America HVAC Air Ducts Market - By Product Type
North America HVAC Air Ducts Market - By Application
- Commercial
- Residential
- Industrial
North America HVAC Air Ducts Market - By Country
- US
- Canada
- Mexico
North America HVAC Air Ducts Market - Company Profiles
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America HVAC Air Ducts Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America HVAC Air Ducts Market Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Adoption of Green Building Technology
5.1.2 Growing Number of Data Centers
5.2 Market Restraints
5.2.1 Intense Competition from Ductless HVAC Systems for Residential Segment
5.3 Market Opportunities
5.3.1 Escalating Application of Geothermal Heat Pumps
5.4 Future Trends
5.4.1 Surging Technological Advancements in HVAC Systems
5.5 Impact Analysis of Drivers and Restraints
6. HVAC Air Ducts Market North America Analysis
6.1 North America HVAC Air Ducts Market Overview
6.2 North America HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
7. North America HVAC Air Ducts Market Analysis By Product Type
7.1 Overview
7.2 North America HVAC Air Ducts Market Breakdown, By Product Type (2020 and 2028)
7.3 Sheet Metal Ducts
7.3.1 Overview
7.3.2 Sheet Metal Ducts: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
7.4 Flexible Non-Metallic Ducts
7.4.1 Overview
7.4.2 Flexible Non-Metallic Ducts: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
7.5 Fiberglass Duct Boards
7.5.1 Overview
7.5.2 Fiberglass Duct Boards: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
8. North America HVAC Air Ducts Market Analysis By Application
8.1 Overview
8.2 North America HVAC Air Ducts Market Breakdown, By Application (2020 and 2028)
8.3 Residential
8.3.1 Overview
8.3.2 Residential: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
8.4 Commercial
8.4.1 Overview
8.4.2 Commercial: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
8.5 Industrial
8.5.1 Overview
8.5.2 Industrial: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
9. North America HVAC Air Ducts Market Country Analysis
9.1 Overview
9.1.1 North America: HVAC Air Ducts Market, by Key Country
9.1.1.1 US: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: HVAC Air Ducts Market, by Product Type
9.1.1.1.2 US: HVAC Air Ducts Market, By Application
9.1.1.2 Canada: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: HVAC Air Ducts Market, by Product Type
9.1.1.2.2 Canada: HVAC Air Ducts Market, By Application
9.1.1.3 Mexico: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: HVAC Air Ducts Market, by Product Type
9.1.1.3.2 Mexico: HVAC Air Ducts Market, By Application
10. North America HVAC Air Ducts Market - COVID-19 Impact Analysis
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Merger and Acquisition
11.3 New Development
12. Company Profiles
12.1 TIN MAN SHEET METAL FABRICATION, LLC
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Hennemuth Metal Fabricators
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Waves Aircon Pvt. Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 DuctSox
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Lindab
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 TurnKey Duct Systems
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 M&M Manufacturing
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 SetDuct
12.8.1 1.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 US Duct
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Table 2. US: HVAC Air Ducts Market, by Product Type Revenue and Forecast to 2028 (US$ Million)
Table 3. US: HVAC Air Ducts Market, By Application Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: HVAC Air Ducts Market, by Product Type Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: HVAC Air Ducts Market, By Application Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico: HVAC Air Ducts Market, by Product Type Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: HVAC Air Ducts Market, By Application Revenue and Forecast to 2028 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. North America HVAC Air Ducts Market Segmentation
Figure 2. North America HVAC Air Ducts Market Segmentation By Country
Figure 3. North America HVAC Air Ducts Market Overview
Figure 4. Sheet Metal Ducts Segment Held the Largest Share in 2020
Figure 5. Residential Segment Held the Largest Share in 2020
Figure 6. The US Held the Largest Share in 2020
Figure 7. North America: PEST Analysis
Figure 8. North America HVAC Air Ducts Market Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. North America HVAC Air Ducts Market: Impact Analysis of Drivers and Restraints
Figure 11. North America HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America HVAC Air Ducts Market Breakdown, By Product Type (2020 and 2028)
Figure 13. North America Sheet Metal Ducts: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Flexible Non-Metallic Ducts: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Fiberglass Duct Boards: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Others: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America HVAC Air Ducts Market Breakdown, By Application (2020 and 2028)
Figure 18. North America Residential: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Commercial: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Industrial: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America: HVAC Air Ducts Market Revenue Overview, by Country (2020) (US$ Mn)
Figure 22. North America: HVAC Air Ducts Market Revenue Share, by Key Country (2020 and 2028)
Figure 23. US: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Canada: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Mexico: HVAC Air Ducts Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in North American Country Markets
2. Hennemuth Metal Fabricators
3. Lindab
4. M&M Manufacturing
5. SetDuct
6. TIN MAN SHEET METAL FABRICATION, LLC
7. TurnKey Duct Systems
8. US Duct
9. Waves Aircon Pvt. Ltd.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America HVAC air ducts market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the HVAC air ducts market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution