Global Duct Market - 2023-2030

Overview

Global Duct Market reached US$ 12.1 billion in 2022 and is expected to reach US$ 21.5 billion by 2030, growing with a CAGR of 7.4% during the forecast period 2023-2030.

The global duct market is experiencing growth due to the rising need for skilled HVAC technicians in a transforming industry. HVAC systems, crucial for climate control and indoor air quality, are evolving to meet contemporary energy-efficient and environmentally conscious standards. The increasing demand for HVAC ducts is driven by the requirement for maintaining cooling and heating system with advanced HVAC technologies.

According to the report of U.S. Energy Information Administration (EIA), the space heating in U.S. is majorly used in commercial buildings which makes of 32% of total energy usage. The escalating energy demand in commercial buildings emphasizes the necessity for efficient HVAC systems, including ducts, fostering the expansion of the duct market.

The Asia-Pacific dominates this market due to robust industrial and commercial growth, increased construction and infrastructure projects, necessitating efficient HVAC systems and contributing to the demand for ducts in air distribution. Moreover, the rising demand for HVAC solutions in populous countries like China and India solidifies Asia-Pacific's position as the leading duct market.

Dynamics

Urbanization Fueling Global Duct Market Growth

The duct market globally is expected to be driven with the growing urbanization which is fostering the residential and commercial buildings duct market. The impact of growing urbanization is significant, which can be seen with the growing globalization, further fuels to the rise in demand of duct systems in the big and smaller cities. According to the report of United Nations, by 2050 urban population is expected to grow by 2.5 billion which will creating an opportunity for the massive demand for infrastructure and real estate.

The surge has opened up opportunities for investment in sophisticated urban environments and assets. Real estate is adding value to both individuals and businesses, leading to an urban renaissance with smart apartments, office complexes and leisure facilities. Urbanization is driving an increased demand for real estate, influencing multiple sectors and contributing to advancements in living standards, healthcare and economic development.. Urbanization has positively transformed the real estate sector, making it a lucrative field for investment and development.

HVAC Demand and Energy Efficiency Trends

The advanced HVAC system demand expected to be the major driver in the global duct market . According to a report by the Air Conditioning Contractors of America (ACCA), the HCVAC services market in U.S. is expected to rise from US$25.6 billion in 2019 to US$35.8 billion in 2030 which the impeccable demand for HVAC systems. The expansion is fueled by the escalating need for energy-efficient HVAC systems and the thriving construction industry, leading to a notable surge in HVAC installations.

Furthermore, forthcoming regulations will require energy efficiency standards for residential central air-conditioning and heat pump systems by 2023. The regulations are fueling the growth of the HVAC services sector, both within U.S. and globally, as consumers actively seek more efficient and environmentally friendly heating and cooling solutions. Consequently, this dynamic is fostering the growth of the globally duct market and associated HVAC services.

High Installation Costs

The duct market faces a restraint in the form of high initial installation costs. Setting up ducts, particularly in large buildings, can be financially burdensome. The costs encompass materials, labor and equipment, making it a substantial investment for businesses and homeowners. The expense can deter potential customers from opting for duct systems, leading to delayed or alternative solutions and impacting the growth of the duct market.

To address this constraint, the industry may need to explore cost-effective installation methods or provide financing options to make duct systems more accessible, potentially mitigating this barrier to entry and stimulating market growth. Addressing the high installation costs is crucial for fostering wider acceptance and realizing the full potential of duct systems in diverse applications.

Segment Analysis

The global duct market is segmented based on type, shape, application and region.

Galvanized Steel Dominates Duct Market Due to Rust Resistance and Affordability

Galvanized steel holds the largest share in the duct market, primarily employed in constructing ductwork due to it's durability and rust resistance. Commonly referred to as galvanized sheet metal, it is the predominant material chosen for fabricating duct systems, providing protection against corrosion and eliminating the need for additional painting expenses. Galvanized steel ducts offer soundproofing and high insulation, ensuring optimal performance.

The material presents significant advantages, including cost reduction, prolonged lifespan, toughness and low maintenance requirements. The robust and sturdy nature of galvanized steel ducts minimizes damage during transportation, installation and assembly. With cathode protection from galvanized coatings, the ducts guarantee full-time protection, ease of inspection and resilience against corrosion, establishing galvanized steel as the leading choice in the duct market.

Geographical Penetration

Asia-Pacific Dominates Duct Market Due to Real Estate Boom and Sustainability Focus

Asia-Pacific dominates the duct market, driven growing commercialization and real estate investment in the region. In 2022, APAC markets, excluding China, began recovering from COVID restrictions. The region's attractiveness for ductwork lies in its dynamic real estate and construction industry. Singapore leads in investment and city development prospects, drawing substantial overseas investments that would typically target China, Hong Kong and Japan.

Southeast Asian emerging markets like Indonesia, the Philippines and Vietnam are on the rise, with their rapid economic growth and expanding consumer classes. APAC's focus on sustainability, including net zero carbon emissions, contributes to ductwork demand as businesses adhere to international standards. Despite challenges like falling real estate transaction volumes, high inflation and rising construction costs, the Asia-Pacific remains the largest share in the duct market due to its economic potential and investment opportunities.

COVID-19 Impact Analysis

The COVID-19 pandemic has reverberated through the duct market by affecting the construction sector. As construction projects were delayed or halted due to lockdowns and labor shortages, the demand for ductwork saw disruptions. The was exacerbated by supply chain interruptions and restrictions on manufacturing activities. Moreover, uncertainty surrounding the pandemic led to reduced investment in commercial and residential real estate, further impacting the duct market.

The construction sector, including ductwork, has the potential to be a catalyst for economic recovery by creating jobs. Recovery measures that promote sustainability and digitalization in the construction industry can lead to long-term growth. International labor standards and social dialogue are essential for a human-centered recovery in the construction and duct market, mitigating the adverse effects of the pandemic.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine war has had a profound impact on the duct market, particularly concerning the production of key materials and the distribution of products. Ukraine, a significant steel producer, played a crucial role in the global duct market. However, the war disrupted steel and iron production in Ukraine, hampering the supply chain for duct materials.

Exports of bulk iron ore, essential for manufacturing duct components, have ceased from Ukrainian ports. With logistical challenges, limited export routes and transportation difficulties due to the war, the duct market faced disruptions in the supply of critical materials. The conflict also led to the seizure of steel mills and factories by Russian and separatist forces, further affecting production capacity. The war's impact on Ukrainian steel industry has sent ripples throughout the global duct market, causing uncertainties in material availability and affecting supply chains.

By Type

• Galvanized Steel Duct
• Aluminum Duct
• Flexible Duct
• Fabric Duct
• PVC Cable Duct
• Polyethylene Duct
• Fiberglass Duct
• Others

By Shape

• Round
• Half Round
• Square/Rectangular
• Triangular
• Others

By Application

• Public Facilities
• Commercial Facilities
• Industrial Facilities
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

Competitive Landscape

The major global players in the market include: Lindab, Saint-Gobain Performance Plastics (ISOVER), CMS Group of Companies, Imperial Manufacturing Group, FabricAir, Thermaflex, Durkeesox (Wuhan)Air Dispersion System Co., LTD, Aldes Group, Kad Air Conditioning (Bin Dasmal Group), DMI Companies.

Why Purchase the Report?

• To visualize the global duct market segmentation based on type, shape, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of duct market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Type mapping available as excel consisting of key Types of all the major players.

The global duct market report would provide approximately 61 tables, 65 figures and 191 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies