HVAC Fan and Evaporator Coil Market Study by Regional Outlook and Competitive Landscape to 2026

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HVAC Fan and Evaporator Coil Market Trends
Information and Competitive Landscape Scenario to
2026

• The HVAC fan evaporator coil industry is
  projected to witness a period of remunerative
  business growth over the coming years due to the
  changing lifestyles of the global middle-income
  population. Additionally, increasing demand for
  advanced AC systems in regions like Europe and
  North America, owing to environmental
  regulations, would stimulate industry outlook
  further. As per a research report by Global
  Market Insights Inc., the HVAC fan evaporator
  coil industry is likely to exceed a valuation of
  9.6 billion by the end of 2026.
• Moreover, technological advancements in the field
  coupled with market players focus on opening new
  research and development labs to innovate better
  product choices for customers would further
  complement the overall market share. Citing an
  instance, in June 2020, Carrier, renowned
  heating, ventilation, and AC company, announced
  the inauguration of its new fan coil testing
  laboratory.

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• With respect to industry, the residential sector
  is estimated to register an impressive CAGR of
  approximately 4.5 through the analysis timeframe
  and hit an overall valuation of 1.7 billion by
  the end of 2026. Residential AC systems are
  smaller and more portable when compared to
  industrial and commercial systems, which further
  limits the use of coil in such systems.

• In terms of distribution, in 2019, the
  aftermarket segment held a valuation of 2
  billion and is slated to foresee similar growth
  over the coming years. In fact, the segment is
  projected to expand at a CAGR of more than 4.5
  through the analysis period. Aftermarket sale is
  higher in the industrial and commercial sectors
  than it is in the residential sector. Changing a
  full AC system is easier in residential settings
  as these systems are less expensive and smaller
  in size. Instead, replacing an AC system in the
  industrial and commercial sectors is highly
  difficult as they are costly as well as bulky.

• Additionally, the rapidly growing application
  scope of evaporators across a plethora of
  industrial avenues is likely to further augment
  market revenue margins. Evaporators are
  extensively used in industries such as food and
  beverage, pharmaceuticals, as well as wastewater
  management. Today, owing to the ongoing COVID-19
  pandemic, the role of evaporator coils in the
  pharmaceutical sector has become more important
  than ever.

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• Regional Analysis

• Meanwhile, apart from the Asia Pacific, the MEA
  fan and evaporator coil industry is slated to
  expand at a distinguished rate in the near future
  owing to the increasing demand for HVAC fan coil
  in the region. Rising number of residential
  construction projects across Africa and
  proliferating commercial construction sector in
  the Middle East are expected to foster regional
  growth. The commercial construction sector in the
  Middle East has been witnessing strong growth due
  the regions rapidly expanding tourism industry
  over the past couple of years. On the other hand,
  Africa too has been witnessing a healthy
  expansion rate since the past few years due to
  the regions flourishing residential construction
  industry, which is being driven by the surging
  regional population.

• Competitive Analysis

• The competitive landscape of the HVAC fan
  evaporator coil industry is inclusive of players
  such as Grupporeco, H.C. Coils, Ekocoil, EVAPCO
  Alcoil, Inc., Markair, Inc., D.P. Engineers, Neha
  Enterprises, Yeh Jeh, Coilmaster, Spirotech Heat
  Exchanger Pvt. Ltd., Mistcold, and Lloyd among
  others.

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