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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

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Date: 22-Aug-2019
No. of pages: 157
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“Increasing demand from commercial buildings and industrial buildings to drive the overall growth of variable air volume (VAV) systems market”

The variable air volume (VAV) systems market size 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 variable air volume (VAV) systems market is driven by various factors, such as high demand from commercial buildings and industrial buildings. The growth of these industries is anticipated to further propel the growth of the market over the forecast period. However, fluctuating raw material prices are likely to hinder the growth of the market.

Single-dut VAV systems to drive the global market during the forecast period

The variable air volume (VAV) systems market has been segmented based on types as single-duct,dual-duct, fan-powered, and induction based. Among these types, the single-duct segment accounted for the largest share of the market in 2018 and is likely to witness significant growth over the forecast period. The growth of single-duct VAV systems is also spurred by the growth of the building &construction industry, especially in APAC. Increasing population, growing urbanization, and shift of manufacturing facilities from North America and Europe to APAC have fueled the growth of building & construction and infrastructure activities. All such attributes are expected to drive the consumption of single-dut VAV systems.

Commercial buildings segment expected to hold the largest market share during the forecast period

Commercial buildings segment expected to hold the largest market share during the forecast period. Commercial buildings application is growing rapidly owing to the rising demand for variable air volume (VAV) systems in the hospitality sector, retail sector, offices, and warehouses. The increasing infrastructure spending is also expected to boost the installations of VAV systems.

North America is expected to record the highest growth rate during the forecast period

North America is expected to have the highest growth rate during the forecast period, due to the increasing usage of VAV systems in various end-use applications such as commercial, residential, and industrial buildings.US, Mexico, and Canada provide enormous opportunities for the Variable air volume (VAV) systems market due to the presence of a large manufacturing sector. On the other hand, Middle East and Africa are projected to hold the second-largest market size during the forecast period.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the variable air volume (VAV) systems market place.


  • By Company Type - Tier 1: 35%, Tier:45%, and Tier 3: 20%

  • By Designation - C Level: 35%, Managers: 25%, Others :40%

  • By Region–North America: 45%, Europe: 20%,APAC: 30%, RoW: 5%


The variable air volume (VAV) systems market comprises major solution providers, such as 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), and Barcol Air Ltd. (Switzerland). The study includes an in-depth competitive analysis of these key players in the variable air volume (VAV) systems market, with their company profiles, recent developments, and key market strategies.

Research Coverage:

The report covers the Variable air volume (VAV) systems market based on type, application, and region. This study aims at estimating the size and future growth potential of the market across various segmentation types. It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall variable air volume (VAV) systems market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to 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.

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

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Top-Down Approach
2.2.2 Bottom-Up Approach
2.3 Market Breakdown and Data Triangulation
2.3.1 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the VAV System Market
4.2 VAV System Market Growth, By Type
4.3 VAV System Market, By Application and Region
4.4 VAV System Market: Major Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Construction Activities, Globally
5.2.1.2 Increasing Awareness for Reducing Energy Consumption
5.2.2 Restraints
5.2.2.1 Presence of Alternative Technologies
5.2.2.2 Low Awareness About the VAV System
5.2.3 Opportunities
5.2.3.1 Newer Modifications in the VAV System
5.2.4 Challenges
5.2.4.1 High Product and Installation Costs
5.2.5 Porter’s Five Forces Analysis
5.2.5.1 Bargaining Power of Suppliers
5.2.5.2 Threat of New Entrants
5.2.5.3 Threat of Substitutes
5.2.5.4 Bargaining Power of Buyers
5.2.5.5 Intensity of Competitive Rivalry
5.2.6 Macroeconomic Indicators
5.2.6.1 Introduction
5.2.6.2 Trends and Forecast of GDP at Country Level
5.2.6.3 Countries Engaging in More Than 60% Green Projects (2018 and 2021)
5.2.6.4 Sectors Having Planned Green Activity Over the Next Three Years(2020–2022)
5.2.6.5 Growth Rate of Global Manufacturing Output (Quarter I, 2018)
5.2.7 Supply Chain Analysis
5.2.8 Sales Channel and Component Definition
5.2.9 Component Cost Breakup
5.2.9.1 Component Definitions
5.2.10 New Construction vs Retrofit

6 VAV System Market, By Type
6.1 Introduction
6.2 Single-Duct  VAV System
6.2.1 The Use of Single-Duct  VAV System Ensures Reduced Energy Consumption, Thereby Contributing to the Global Need for Energy Efficiency
6.3 Dual-Duct VAV System
6.3.1 Dual-Duct VAV System is Ideal for Alternative Ventilation and Humidity Control
6.4 Induction VAV System
6.4.1 One of The Most Important Advantages of This VAV System is That It Requires Low Maintenance
6.5 Fan-Powered VAV System
6.5.1 Fan-Powered Series VAV System
6.5.1.1 This Type of VAV System is Suitable for Use in Areas Where Constant Cfm Needs to Be Maintained
6.5.2 Parallel Fan-Powered VAV System
6.5.2.1 Parallel Fan-Powered VAV System Functions at Constant as Well as Variable Temperature Modes

7 VAV System Market, By Application
7.1 Introduction
7.2 Commercial Buildings
7.2.1 Offices
7.2.1.1 The Type of VAV System Used in Office Buildings Varies According to the Size of the Building
7.2.2 Warehouse
7.2.2.1 Roof Top Single Zone Or Single-Duct VAV Systems are Used Commonly in Warehouses
7.2.3 Hospitality
7.2.4 Retail
7.2.4.1 Packaged Roof Top Single Zone Or Single-Duct VAV Systems are Widely Used in the Retail Sector
7.2.5 Others
7.3 Industrial Buildings
7.3.1 The Energy-Efficient and Cost-Effective Nature of the VAV System is Useful in Industrial Buildings
7.4 Residential Buildings
7.4.1 MEA is A Promising Market in the Residential Buildings Segment

8 VAV System Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 Industrial Growth Driving the Installations of VAV Systems
8.2.2 Canada
8.2.2.1 Growing Immigration Rate is Driving the VAV System Installations in Residential, Commercial, and Industrial Applications
8.2.3 Mexico
8.2.3.1 Government Initiatives to Develop Manufacturing Industries are Driving the VAV System Market
8.3 Middle East and Africa (MEA)
8.3.1 UAE
8.3.1.1 Growing Building and Construction Industry Driving the Installations of VAV Systems
8.3.2 Saudi Arabia
8.3.2.1 Growing Immigration Rate is Driving the VAV Systems Installations in Residential, Commercial, and Industrial Applications
8.3.3 Nigeria
8.3.3.1 Government Initiatives to Develop Manufacturing Industries to Drive the VAV System Market
8.3.4 Rest of MEA
8.4 APAC
8.4.1 China
8.4.1.1 Increasing Demand for the Hvac System to Drive the Market
8.4.2 India
8.4.2.1 Growing Construction Industry and Smart City Projects to Drive the Market
8.4.3 Japan
8.4.3.1 Reconstruction Activities and Further Economic Growth to Provide Opportunities for Market Growth
8.4.4 South Korea
8.4.4.1 Upcoming Green City Projects and the Changing Climatic Conditions to Drive the Demand for VAV Systems
8.4.5 Indonesia
8.4.5.1 Growing Infrastructural Development and Upcoming Smart City Projects are Driving the VAV System Market
8.4.6 Rest of APAC
8.5 South America
8.5.1 Brazil
8.5.1.1 Recovery in Construction Activities Driving the Installation of VAV Systems
8.5.2 Argentina
8.5.2.1 Recovering Construction Activities are Expected to Drive the VAV System Market in the Country
8.5.3 Rest of South America
8.6 Europe
8.6.1 Western Europe
8.6.1.1 Germany
8.6.1.1.1 The Increasing Awareness Regarding Energy Consumption to Drive the VAV System Market
8.6.1.2 UK
8.6.1.2.1 The Growth in Construction of Commercial Buildings to Drive the VAV System Market
8.6.1.3 France
8.6.1.3.1 Growing Construction Activities and the Rising Awareness Regarding Energy Efficiency to Drive the Market
8.6.1.4 Rest of Western Europe
8.6.2 Central & Eastern Europe
8.6.2.1 Russia
8.6.2.1.1 Increase in the Construction Activities in the Country to Drive the Market
8.6.2.2 Turkey
8.6.2.2.1 Growing Awareness Regarding Energy Consumption and an Increasing Number of Commercial Buildings to Drive the Market
8.6.2.3 Rest of Eastern and Central Europe

9 Competitive Landscape
9.1 Overview
9.2 Market Ranking Analysis
9.3 Competitive Scenario
9.3.1 Expansion
9.3.2 Acquisition
9.3.3 Agreement & Joint Venture
9.3.4 New Product Launch

10 Company Profiles
10.1 Johnson Controls
10.1.1 Business Overview
10.1.2 Products Offered
10.1.3 Recent Developments
10.1.4 SWOT Analysis
10.1.5 MnM View
10.2 Ingersoll Rand Plc
10.2.1 Business Overview
10.2.2 Products Offered
10.2.3 Recent Developments
10.2.4 SWOT Analysis
10.2.5 MnM View
10.3 DAIKIN INDUSTRIES, Ltd.
10.3.1 Business Overview
10.3.2 Products Offered
10.3.3 Recent Developments
10.3.4 MnM View
10.4 United Technologies Corporation
10.4.1 Business Overview
10.4.2 Products Offered
10.4.3 Recent Developments
10.4.4 SWOT Analysis
10.4.5 MnM View
10.5 Emerson Electric Co.
10.5.1 Business Overview
10.5.2 Products Offered
10.5.3 SWOT Analysis
10.5.4 MnM View
10.6 Honeywell International Inc.
10.6.1 Business Overview
10.6.2 Products Offered
10.6.3 SWOT Analysis
10.6.4 MnM View
10.7 Siemens
10.7.1 Business Overview
10.7.2 Products Offered
10.7.3 SWOT Analysis
10.7.4 MnM View
10.8 TROX GmbH
10.8.1 Business Overview
10.8.2 Products Offered
10.8.3 Recent Developments
10.8.4 MnM View
10.9 KMC Controls
10.9.1 Business Overview
10.9.2 Products Offered
10.9.3 Recent Developments
10.9.4 MnM View
10.10 Barcol-Air
10.10.1 Business Overview
10.10.2 Products Offered
10.10.3 MnM View
10.11 Other Company Profiles
10.11.1 Schneider Electric
10.11.2 Systemair Ab
10.11.3 Kad Airconditioning
10.11.4 Metal Industries Inc.
10.11.5 Spectrum Industries
10.11.6 Dynacraft Air Controls
10.11.7 Halton Group
10.11.8 Advanced Air Limited
10.11.9 Waterloo Air Products Plc
10.11.10 Air Master Equipments Emirates L.L.C.

11 Appendix
11.1 Insights From Industry Experts
11.2 Available Customizations
11.3 Related Reports

List of Tables

Table 1 VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 2 Single-Duct VAV System Market Size , By Region, 2017–2024 (USD Million)
Table 3 Dual-Duct VAV System Market Size, By Region, 2017–2024 (USD Million)
Table 4 Induction VAV System Market Size, By Region, 2017–2024 (USD Million)
Table 5 Fan-Powered VAV System Market Size, By Region, 2017–2024 (USD Million)
Table 6 VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 1 VAV System Market in Commercial Buildings Application, 2017–2024 (USD Million)
Table 2 VAV System Market Size in Commercial Buildings Application, By Region, 2017–2024 (USD Million)
Table 3 VAV System Market Size in Industrial Buildings Application, By Region, 2017–2024 (USD Million
Table 4 VAV System Market Size in Residential Buildings Application, By Region, 2017–2024 (USD Million)
Table 5 VAV System Market Size, By Region, 2017–2024 (USD Million)
Table 6 VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 7 VAV System Market Size, By Fan-Powered Type, 2017–2024 (USD Million)
Table 8 VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 9 VAV System Market Size in Commercial Buildings Application, 2017–2024 (USD Million)
Table 10 North America: VAV System Market Size, By Country, 2017–2024 (USD Million)
Table 11 North America: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 12 North America: VAV System Market Size, By Fan-Powered Type, 2017–2024 (USD Million)
Table 13 North America: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 14 North America: VAV System Market Size in Commercial Buildings Application, 2017–2024 (USD Million)
Table 15 US: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 16 US: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 17 Canada: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 18 Canada: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 19 Mexico: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 20 Mexico: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 21 MEA: VAV System Market Size, By Country, 2017–2024 (USD Million)
Table 22 MEA: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 23 MEA: VAV System Market Size, By Fan-Powered Type, 2017–2024 (USD Million)
Table 24 MEA: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 25 MEA: VAV System Market Size in Commercial Buildings Application, 2017–2024 (USD Million)
Table 26 UAE: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 27 UAE: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 28 Saudi Arabia: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 29 Saudi Arabia: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 30 Nigeria: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 31 Nigeria: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 32 Rest of MEA: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 33 Rest of MEA: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 34 APAC: VAV System Market Size, By Country, 2017–2024 (USD Million)
Table 35 APAC: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 36 APAC: VAV System Market Size, By Fan-Powered Type, 2017–2024 (USD Million)
Table 37 APAC: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 38 APAC: VAV System Market Size in Commercial Buildings Application, 2017–2024 (USD Million)
Table 39 China: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 40 China: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 41 India: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 42 India: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 43 Japan: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 44 Japan: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 45 South Korea: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 46 South Korea: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 47 Indonesia: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 48 Indonesia: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 49 Rest of APAC: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 50 Rest of APAC: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 51 South America: VAV System Market Size, By Country, 2017–2024 (USD Million)
Table 52 South America: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 53 South America: VAV System Market Size, By Fan-Powered Type, 2017–2024 (USD Million)
Table 54 South America: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 55 South America: VAV System Market Size, in Commercial Buildings Application, 2017–2024 (USD Million)
Table 56 Brazil: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 57 Brazil: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 58 Argentina: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 59 Argentina: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 60 Rest of South America: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 61 Rest of South America: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 62 Europe: VAV System Market Size, By Country, 2017–2024 (USD Million)
Table 63 Europe: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 64 Europe: VAV System Market Size, By Fan-Powered Type, 2017–2024 (USD Million)
Table 65 Europe: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 66 Europe: VAV System Market Size in Commercial Buildings Application, 2017–2024 (USD Million)
Table 67 Germany: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 68 Germany: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 69 UK: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 70 UK: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 71 France: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 72 France: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 73 Rest of Western Europe: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 74 Rest of Western Europe: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 75 Russia: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 76 Russia: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 77 Turkey: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 78 Turkey: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 79 Rest of Europe: VAV System Market Size, By Type, 2017–2024 (USD Million)
Table 80 Rest of Europe: VAV System Market Size, By Application, 2017–2024 (USD Million)
Table 81 Expansion, 2014–2019
Table 82 Acquisition, 2014–2019
Table 83 Agreement & Joint Venture, 2014–2019
Table 84 New Product Launch, 2014–2019

List of Figures

Figure 1 VAV System: Market Segmentation
Figure 2 VAV System Market: Research Design
Figure 3 VAV System Market: Top-Down Approach
Figure 4 VAV System Market: Bottom-Up Approach
Figure 5 Single-Duct VAV to Be the Largest Type of the VAV System Market
Figure 6 Commercial Buildings to Be the Largest Application of the VAV System Market
Figure 7 North America Accounted for Leading Market Share in 2018
Figure 8 Increasing Investments in Emerging Countries of APAC to Drive the Global Market
Figure 9 Single-Duct VAV to Lead the Market, 2019–2024
Figure 10 Commercial Buildings and North America Accounted for the Highest Shares of the Market, 2018
Figure 11 India to Grow at the Highest CAGR in the Market
Figure 12 Drivers, Restraints, Opportunities, and Challenges in the VAV System Market
Figure 13 High Threat of Substitutes Owing to A Large Number of Alternative Products in the VAV System Market
Figure 14 Trends and Forecast of GDP at Country Level, USD Billion (2018–2024)
Figure 15 Countries Engaging in More Than 60% Green Projects (2018 and 2021)
Figure 16 VAV System Market: Supply Chain Analysis
Figure 17 Sales Channel Breakup
Figure 18 VAV System Market: Component Cost Breakup
Figure 19 VAV System Market: New Construction vs Retrofit
Figure 20 Single-Duct VAV System to Be the Fastest-Growing Segment of the Market
Figure 21 North America to Be the Largest Market for Single-Duct VAV System
Figure 22 North America to Be the Largest Market for Dual-Duct VAV System
Figure 23 North America to Be the Largest Market for Induction VAV System
Figure 24 North America to Be the Largest Market for Fan-Powered VAV System
Figure 25 Commercial Buildings to Be the Fastest-Growing Application of VAV System
Figure 26 Commercial Buildings to Be the Largest Application of VAV Systems in North America
Figure 27 Industrial Buildings to Be the Largest Application of VAV System in North America
Figure 28 Residential Buildings to Be the Largest Application of VAV System in North America
Figure 29 India and the UAE to Lead the Market
Figure 30 North America: VAV System Market Snapshot
Figure 31 MEA: VAV System Market Snapshot
Figure 32 APAC: VAV System Market Snapshot
Figure 33 South America: VAV System Market Snapshot
Figure 34 Europe: VAV System Market Snapshot
Figure 35 Companies Primarily Adopted Expansion as the Key Growth Strategy Between 2014 and 2019
Figure 36 Market Ranking of Key Players, 2018
Figure 37 Johnson Controls: Company Snapshot
Figure 38 Johnson Controls: SWOT Analysis
Figure 39 Ingersoll Rand Plc: Company Snapshot
Figure 40 Ingersoll Rand Plc: SWOT Analysis
Figure 41 DAIKIN INDUSTRIES: Company Snapshot
Figure 42 United Technologies Corporation: Company Snapshot
Figure 43 United Technologies Corporation: SWOT Analysis
Figure 44 Emerson Electric: Company Snapshot
Figure 45 Emerson Electric: SWOT Analysis
Figure 46 Honeywell International: Company Snapshot
Figure 47 Honeywell International: SWOT Analysis
Figure 48 Siemens: Company Snapshot
Figure 49 Siemens: SWOT Analysis
Figure 50 TROX GmbH: Company Snapshot
Figure 51 KMC Controls: Company Snapshot
Figure 52 Barcol-Air: Company Snapshot

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