North America HVAC duct and fittings market revenue will reach $5.2 billion by 2024

As per the report “North America HVAC Duct and Fittings Market by Application (Residential, Commercial, Industrial), by Duct shape (Round duct, Oval duct, Rectangular duct), by Material(Sheet Metal, Fiberglass, Fabric, Flexible), Industry trends, estimation & forecast, 2016 – 2024,” The North America HVAC duct and fittings market was valued at $2.5 billion in 2016, and is projected to reach $5.2 billion by 2024, growing at a CAGR of 9.8% from 2017 to 2024. In 2016, the residential segment generated the highest revenue share in the global North America HVAC duct fitting market. Among major countries, the U.S.market was the highest revenue generating market valued at $1.8 billion in 2016.

“A growing need for the replacement and modification of the old equipment in commercial, institutional and industrial buildings has spurred the demand for advanced HVAC systems in the region. Moreover, increase in the number of projects and other initiatives by the government are also expected to raise the demand for HVAC duct pipe and fittings”

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Constantly increasing population in growing metropolises is leading the residential HVAC duct and fittings market to dominate the overall market

The residential HVAC segment includes apartment buildings and single-family homes. Residential duct pipe and fittings for HVAC have simple designs for air flow through them. The residential segment held nearly 40% of the total North American market in 2016. However, the commercial HVAC duct and a fitting market are expected to supersede the residential HVAC market as a result of growth in urban development and upcoming projects for large commercial buildings in the region. The fastest growing market is anticipated to be of Industrial HVAC ducts and fittings market, having a CAGR of 10% over the forecast period of 2017-2024. A number of associations are involved in the maintenance of HVAC systems. NADCA (National Air Duct Cleaners Association), an HVAC maintenance, inspection, and restoration association based in the U.S., is contributing to HVAC services in the commercial segment.

Round Ducts segment will dominate the North American HVAC duct and fittings market

Round duct segment is expected to dominate the market throughout the forecast period of 2017-2024 having a CAGR of 9.6%. This is because round ducts are effective in their design as they consume less material and can tolerate fast air flows with least friction, hence reducing wear and tear losses. Additionally, cooling or heating systems can work on low power to distribute air through these ducts.

       NORTH AMERICA HVAC DUCT AND FITTINGS MARKET BY DUCT SHAPE, 2016

NORTH AMERICA HVAC DUCT AND FITTINGS MARKET BY DUCT SHAPE

However, oval ducts are supposed to grow with the highest CAGR of 10% during the forecast period, owing to their advantage over all other types of ducts. This is because oval ducts can get fit into low room spaces. Moreover, oval ducts come in a large size which reduces the number of field joints and hence reduces the cost and increases efficiency.

With increasing energy conscious clients, Canada is anticipated to witness the fastest growth rate

Among major North American countries, Canada is expected to witness the highest CAGR of 10.5% during the forecast period of 2017-2024. Organizations such as MultiCam Canada, Ingersoll Rand and HRAI (Heating Refrigeration and Air Conditioning Institute of Canada) have attempted and succeeded with innovation, performance, and quality. However, the U.S. is expected to dominate the all over market throughout the entire forecast period owing to upcoming residential and commercial building projects and funding provided by the U.S. government for upgrading infrastructure.

NORTH AMERICA HVAC DUCT AND FITTINGS MARKET KEY FINDINGS

• The global North America HVAC duct and fittings market was valued at $2.5 billion in 2016 and is projected to reach $5.2 billion by 2024.
• The residential segment held nearly 40% of the total North American market in 2016.
• Among major North American countries, Canada is expected to witness the highest CAGR of 10.5%.
• The round duct segment is expected to dominate the market throughout the forecast period of 2017-2024 having a CAGR of 9.6%

Zen Industries Inc., a leading North American HVAC system company, launched a cloud-based service for its clients. The cloud-based platform is provided by Webduct Systems, Inc. Some other major market players are ., Sheet Metal Connectors, Inc., Nordfab Ducting, AccuDuct Manufacturing, Inc., Imperial Manufacturing Group and Ductmate Industries, Inc.

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