The global VAV BOX market size is estimated at USD 4.7 billion in 2019 and is projected to reach USD 6.4 billion by 2024, at a CAGR of 6.3%, between 2019 and 2024. VAV Boxes are major components inside a VAV system which makes it energy efficient and helps to reduce the energy consumption by maintaining a balanced air flow as per the zone’s requirement. The VAV terminal unit consist of a damper and control to measure the required air flow as per the temperature level. The major applications of VAV BOX includes its usage in residential, commercial and industrial buildings.
The key players in the VAV BOX market are Ingersoll Rand PLC (Ireland), Johnson Controls (US), TROX Gmbh (Germany), Spectrum Industries (India), United Technologies Corporation (US), Honeywell International Inc. (US), Daikin Industries, Ltd. (Japan), Siemens AG (Germany), Systemair AB (Sweden), and Barcol-Air (Switzerland). The VAV BOX market report analyzes the key growth strategies adopted by the leading market players, between 2014 and 2019, which include expansions, new product developments, merger & acquisitions, and joint ventures
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Ingersoll Rand PLC (Ireland) is one of the major players of the VAV BOX market. It is one of the leading companies providing air solutions for homes and buildings, transportation and protection solutions for food and perishables and solutions to increase the industrial productivity and efficiency. The company operates through two business segments, namely, climate and industrial which offers products under the brand names - Club Car, Ingersoll Rand, Thermo King, and Trane. The company provides VAV products through its brand name Trane which falls under its climate business segment. Trane manufactures and markets heating and air ventilation equipment that helps in optimizing indoor environments. Ingersoll-Rand markets and sales its products through different subsidiaries and distributors in more than 100 countries globally.
Johnson Controls (US) is one of the leading players in the VAV BOX market. Johnson Controls is a diversified and multinational company focused towards developing energy solutions, integrated infrastructure and transportation systems. The company operates through two business segments, namely, building technologies & solutions and power solutions. It provides VAV terminal units through its building technologies & solutions business segment under the brand names Titus, Krueger, Tuttle & Bailey and Enviro-Tec. The company’s building technologies & solutions segment provides equipment for building automation & controls, refrigerator, and security systems for buildings. The company has a strong geographical foothold with presence in 2000 locations worldwide which caters the demand of its customers through more than 700 branch offices in 150 countries globally.
Variable Air Volume Box Market by type(Single-Duct VAV, Dual-Duct VAV, Induction VAV, Fan-Powered VAV(Series Powered, Parallel Powered)), Application(Residential Building, Industrial Building, Commercial Building), and Region - Global Forecast to 2024
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