February 17, 2022 23:34 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Feb. 17, 2022 (GLOBE NEWSWIRE) -- The Europe Air Duct Market size reached USD 2.95 billion by 2028, exhibiting a CAGR of 4.5% during the forecast period. The market was valued at USD 2.08 billion in 2020 and reached USD 2.17 billion in 2021. The rising importance of indoor air quality and the adoption of smart technologies are expected to boost the industry’s growth. Fortune Business Insights™ provides this information in its report titled “Europe Air Duct Market, 2021-2028.” Tunnel Duct
Air duct is used in several commercial, industrial, and public facilities to distribute airflow efficiently. They transport cool or heated air using pipelines and boost air quality and safety. The emergence of several industries and rising concerns regarding employee safety and air quality are expected to boost the product’s adoption. Furthermore, incorporating smart technologies such as demand-controlled ventilation, IoT-enabled products, and sensor-connection are expected to boost the Europe air duct industry. In addition, the emergence of several commercial and residential constructions is likely to foster market development.
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Companies Operating in Europe Air Duct Market
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Robust Demand from Commercial and Residential Sectors to Bolster Market Growth
This market is expected to be positively impacted by the COVID-19 pandemic due to the rising demand for ducts from the commercial and residential sectors. The adoption of social distancing, technologically automated production machinery, and reduced capacities enable manufacturers to meet deadlines and satisfy consumer demand. Furthermore, rising construction activities and surging demand for good air quality are expected to boost the product demand. These factors are likely to propel the industry's growth during the pandemic.
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Type, Shape, Application, and Region are studied for the Market
By type, the market is segmented into fabric duct, flexible duct, aluminum (AI) duct, and others. As per shape, it is classified into triangular, square/rectangular, half round, round, and others. Based on application, it is categorized into industrial facilities, commercial facilities, government buildings, public facilities, and others. Country-wise, it is clubbed into Italy, Russia, the U.K., Germany, and the rest of Europe.
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Adoption of Direct Ducts Using Sealed Joints to Bolster Market Development
The rising adoption of direct ducts using sealed joints and connections boosts efficiency and ensures minimal heat loss. Sealed air ducts reduce leakage and energy loss concerns. They can be operated in a closed design and deliver optimal comfort, sustaining heating, ventilation, and air conditioning (HVAC) efficiency. Furthermore, rising awareness regarding the energy savings of air ducts is likely to boost their adoption among the residential sectors. Rising per-capita income, rapid urbanization, and increased investments in the development of technologically advanced air ducts are likely to boost the product adoption. These factors are likely to drive the Europe air duct market growth.
However, rising ductless system installations and high maintenance costs of the ducts may hinder the market’s progress.
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Infrastructural Development and Support from Government Bodies to Fuel Market Growth in Germany
Germany is projected to dominate the Europe air duct market share due to rising infrastructural development and government backing to develop effective air ducts. The market in Germany stood at USD 0.48 billion in 2020 and is expected to hold the largest portion of the market share during the forecast period. Furthermore, rapid adoption of advanced technologies and increasing construction activities and industries may boost the market progress.
Major Players Incorporate Acquisition Strategies to Expand Production Activities
Prominent companies operating in the market utilize acquisition strategies to expand their production activities. For example, in June 2021, Kingspan Group acquired LOGSTOR A/S, a major pre-insulated pipes and energy-efficient distribution system. This undertaking shall expand the company’s production facilities and enable the company to manufacture efficient ducting and piping solutions. Furthermore, incorporating research and development, partnerships, mergers, and novel product launches may help companies boost their market position globally.
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