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“The DOAS market is projected to grow at a CAGR of 8.8% between 2022–2027.”
The DOAS market is expected to grow from USD 3.9 billion in 2022 to USD 5.9 billion by 2027, registering a CAGR of 8.8% during the forecast period. Increased adoption of DOAS for residential and commercial applications to improve energy efficiency and reduce costs and improved focus on indoor air and environmental quality are the key factors expected to boost the growth of the DOAS market in the next five years. Lack of consumer awareness is expected to be the key restraint for market growth.
“20–40-ton capacity to grow at the fastest rate during the forecast period.”
Options for efficient performance are available on all 20–40-ton models as these models are lighter, incorporate corrosion-resistant coil systems, and seamlessly integrate into any building automation system. Systems with 20–40-ton capacity are widely used in commercial buildings. Increasing demand for flexible and convenient working space is a major factor driving the demand for office spaces. Companies across manufacturing, information technology, and startup firms are shifting to office space. Post-pandemic, the demand for co-working spaces has rapidly increased, and companies such as Instagram, Spotify, and Uber, among others, use co-working spaces for their employees. As a result of the increasing demand for offices globally, DOAS units with 20–40-ton capacity are displaying the highest growth opportunity during the forecast period.
“Market for residential vertical to register second-highest CAGR during the forecastperiod”
Residential buildings mainly include independent homes and apartments. There is an increase in the demand for consumer goods such as air-conditioners in the residential market. As air-conditioners consume almost 50% of the total electricity used in homes, it has created an opportunity for energy-efficient equipment such as DOAS. The introduction of smart homes and green building technologies has also positively impacted the DOAS market. For instance, in India, the demand for green buildings has increased tremendously in the last ten years. It is further estimated that the green building market will double by 2022 and reach 10 billion sq. ft. It is also observed that residential real estate developers are also focusing on developing green buildings and improving the energy efficiency of the buildings while making the buildings climate change ready. Such trends have createda tremendous opportunity for DOAS to be implemented in green residential buildings. Other factors, such as an increase in disposable income, the need for efficient-energy consumption, and rapid climate changes, are further driving the DOAS market in residential spaces.
“North America to offer second-highest growth opportunities for DOAS market during the forecast period”
North America is one of the leading regions in the DOAS market; it comprises the US, Canada, and Mexico. There is a high demand for DOAS in retail, hospital, and office applications in North America as this region homes many enterprises, medical facilities, and commercial spaces. The DOAS market in North America has been fueled by the need for energy efficiency, indoor air quality, and growing demand for DOAS from commercial and residential buildings. The US is expected to be a major contributor to the growth of the DOAS market in North America. The region also witnesses the presence of major DOAS manufacturers and the emergence of many new companies. This is further expected to support the market growth during the forecasted period.
The report profiles key players in the DOAS market with their respective market ranking analyses. Prominent players profiled in this report are Johnson Controls (Ireland), Carrier Global (US), Daikin (Japan), LG Electronics (South Korea), Trane Technologies (US), Samsung Electronics (South Korea), Nortek (US), and Greenheck Fan (US), among others.
Research Coverage:
This research report categorizes the DOAS market on the basis of capacity, implementation type, requirement, vertical, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the DOAS market and forecasts the same till 2027. Apart from these, the report also consists of leadership mapping and analysis of all the companies in the DOAS ecosystem.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall DOAS market and the sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.