Fan Coils Market
Fan Coils Market Forecasts to 2028 – Global Analysis By Type (Blower Coils, Room Fan Coils), Product (1000-2000 CFM, >2000 CFM), Application (Residential, Commercial) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $2,708.41 MN |
|
Projected Year Value (2028) |
US $3,966.09 MN |
|
CAGR (2021 - 2028) |
5.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Fan Coils Market is accounted for $2,708.41 million in 2021 and is expected to reach $3,966.09 million by 2028 growing at a CAGR of 5.6% during the forecast period. A fan coil is a simple device consisting of a heating and or cooling heat exchanger or and fan. A fan coil unit is a diverse device sometimes using ductwork and is used to control the temperature in the space where it is installed or serves multiple spaces. It is part of an HVAC system found in residential, commercial, and industrial buildings.
Market Dynamics:
Driver:
Rising production of electronics
The international competitive strength of the electronics industry derives from investment of vast funds in research to strengthen its technological capabilities. The performance and quality of hardware products depends on the performance of their electronic components. Thus manufacturers of both consumer electronics products and computers increasingly tend to concentrate their investments in the area of electronic parts.
Restraint:
The availability of alternate products
The lifetime of the product is designed to be on a par with alternatives, and the product may also have lower embodied carbon. Furthermore, the local players may not be able to offer high-quality products at a lower cost. This could have an influence on fan coil sales. Furthermore, high-quality wall coils are prohibitively expensive for many people.
Opportunity:
Rise in demand of energy
Fan coil valve provides high level of flexibility in terms of subdivision and rearrangement of space as compare to other product, hence, expected to fuel the demand of the market. Rise in demand for energy is anticipated to fuel the demand for fan coil valves primarily due to the compatibility of fan coils with renewable energy systems. Increase in shift from two fan coil valves to four type fan coil valves is estimated to boost the demand for fan coil valves across the globe.
Threat:
High maintenance
Fan coil valves are simple to operate. However, some of its components require high maintenance such as temperature controllers and valves. This is predicted to threat market in the next few years. Moreover, chilled water fan coil units are under scrutiny for increased cost and complexity as a result of high maintenance in centralized heating & cooling plants.
The commercial application segment is expected to be the largest during the forecast period
The commercial application segment is expected to be the largest share in the market during the forecast period. The fan coil range consists of a compact ducted range ideal for commercial use and one model with high static pressure for commercial applications.
Region with largest share:
North America is projected to hold the largest share in the market due to the factors such as increasing production of electronics (air-conditioners), installation of fan coils in various electronics, fan coil units having air space to blow hot or cold air, and extensive availability in various price ranges.
Region with highest CAGR:
North America is projected to have the highest CAGR due to the increase in usage of fan coils, as it makes HVAC systems easier in terms of handling air-conditioning, ventilation, cooling, and heating.
Key players in the market:
Some of the key players profiled in the Fan Coils Market include Airtherm, Carrier, Coil Company, Daikin, Gree, IEC, Johnson Controls, Panasonic, Trane, Williams, and Zehnder.
Key developments:
In May 2021: Johnson Controls completed acquisition of Silent-Aire. This strategic combination broadens the portfolio of sustainable and reliable data center solutions while fostering a well-established entrepreneurial spirit and customer-centric culture that will fuel growth in this end market globally.
In December 2020: Daikin acquired air handling unit maker citizen industries. These include fans and fan coil units, HVAC (heating, ventilation and air conditioning) and fan coil units, and coils for other HVAC-based applications.
In September 2018: Panasonic introduced a new range of hydraulic fan coil units. The new hydraulic fan coil is dedicated both to residential applications, powered by an Air/Water heat pump, and to tertiary applications, via a DRV with hydraulic module.
Types Covered:
• Blower Coils
• Room Fan Coils
• Central Station Air Handling Units Coils
• Other Types
Products Covered:
• 1000-2000 CFM
• >2000 CFM
Fan Coil Units Covered:
• Wall Mounted Fan Coils
• Horizontal Fan Coils
• Cassette Fan Coils
• Vertical Fan Coils
Distribution Channels Covered:
• Direct Sale
• Indirect Sale
Applications Covered:
• Industrial Application
• Commercial Application
• Residential Application
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Fan Coils Market, By Type
5.1 Introduction
5.2 Blower Coils
5.3 Room Fan Coils
5.4 Central Station Air Handling Units Coils
5.5 Other Types
6 Global Fan Coils Market, By Product
6.1 Introduction
6.2 1000-2000 CFM
6.3 >2000 CFM
7 Global Fan Coils Market, By Fan Coil Unit
7.1 Introduction
7.2 Wall Mounted Fan Coils
7.3 Horizontal Fan Coils
7.4 Cassette Fan Coils
7.5 Vertical Fan Coils
8 Global Fan Coils Market, By Distribution Channel
8.1 Introduction
8.2 Direct Sale
8.3 Indirect Sale
9 Global Fan Coils Market, By Application
9.1 Introduction
9.2 Industrial Application
9.3 Commercial Application
9.4 Residential Application
10 Global Fan Coils Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Airtherm HVAC
12.2 Carrier Global
12.3 Coil Company
12.4 Daikin
12.5 Gree
12.6 IEC
12.7 Johnson Controls
12.8 Panasonic
12.9 Trane
12.10 Williams Racing
12.11 Zehnder Group
List of Tables
1 Global Fan Coils Market Outlook, By Region (2019-2028) ($MN)
2 Global Fan Coils Market Outlook, By Type (2019-2028) ($MN)
3 Global Fan Coils Market Outlook, By Blower Coils (2019-2028) ($MN)
4 Global Fan Coils Market Outlook, By Room Fan Coils (2019-2028) ($MN)
5 Global Fan Coils Market Outlook, By Central Station Air Handling Units Coils (2019-2028) ($MN)
6 Global Fan Coils Market Outlook, By Other Types (2019-2028) ($MN)
7 Global Fan Coils Market Outlook, By Product (2019-2028) ($MN)
8 Global Fan Coils Market Outlook, By 1000-2000 CFM (2019-2028) ($MN)
9 Global Fan Coils Market Outlook, By >2000 CFM (2019-2028) ($MN)
10 Global Fan Coils Market Outlook, By Fan Coil Unit (2019-2028) ($MN)
11 Global Fan Coils Market Outlook, By Wall Mounted Fan Coils (2019-2028) ($MN)
12 Global Fan Coils Market Outlook, By Horizontal Fan Coils (2019-2028) ($MN)
13 Global Fan Coils Market Outlook, By Cassette Fan Coils (2019-2028) ($MN)
14 Global Fan Coils Market Outlook, By Vertical Fan Coils (2019-2028) ($MN)
15 Global Fan Coils Market Outlook, By Distribution Channel (2019-2028) ($MN)
16 Global Fan Coils Market Outlook, By Direct Sale (2019-2028) ($MN)
17 Global Fan Coils Market Outlook, By Indirect Sale (2019-2028) ($MN)
18 Global Fan Coils Market Outlook, By Application (2019-2028) ($MN)
19 Global Fan Coils Market Outlook, By Industrial Application (2019-2028) ($MN)
20 Global Fan Coils Market Outlook, By Commercial Application (2019-2028) ($MN)
21 Global Fan Coils Market Outlook, By Residential Application (2019-2028) ($MN)
22 North America Fan Coils Market Outlook, By Country (2019-2028) ($MN)
23 North America Fan Coils Market Outlook, By Type (2019-2028) ($MN)
24 North America Fan Coils Market Outlook, By Blower Coils (2019-2028) ($MN)
25 North America Fan Coils Market Outlook, By Room Fan Coils (2019-2028) ($MN)
26 North America Fan Coils Market Outlook, By Central Station Air Handling Units Coils (2019-2028) ($MN)
27 North America Fan Coils Market Outlook, By Other Types (2019-2028) ($MN)
28 North America Fan Coils Market Outlook, By Product (2019-2028) ($MN)
29 North America Fan Coils Market Outlook, By 1000-2000 CFM (2019-2028) ($MN)
30 North America Fan Coils Market Outlook, By >2000 CFM (2019-2028) ($MN)
31 North America Fan Coils Market Outlook, By Fan Coil Unit (2019-2028) ($MN)
32 North America Fan Coils Market Outlook, By Wall Mounted Fan Coils (2019-2028) ($MN)
33 North America Fan Coils Market Outlook, By Horizontal Fan Coils (2019-2028) ($MN)
34 North America Fan Coils Market Outlook, By Cassette Fan Coils (2019-2028) ($MN)
35 North America Fan Coils Market Outlook, By Vertical Fan Coils (2019-2028) ($MN)
36 North America Fan Coils Market Outlook, By Distribution Channel (2019-2028) ($MN)
37 North America Fan Coils Market Outlook, By Direct Sale (2019-2028) ($MN)
38 North America Fan Coils Market Outlook, By Indirect Sale (2019-2028) ($MN)
39 North America Fan Coils Market Outlook, By Application (2019-2028) ($MN)
40 North America Fan Coils Market Outlook, By Industrial Application (2019-2028) ($MN)
41 North America Fan Coils Market Outlook, By Commercial Application (2019-2028) ($MN)
42 North America Fan Coils Market Outlook, By Residential Application (2019-2028) ($MN)
43 Europe Fan Coils Market Outlook, By Country (2019-2028) ($MN)
44 Europe Fan Coils Market Outlook, By Type (2019-2028) ($MN)
45 Europe Fan Coils Market Outlook, By Blower Coils (2019-2028) ($MN)
46 Europe Fan Coils Market Outlook, By Room Fan Coils (2019-2028) ($MN)
47 Europe Fan Coils Market Outlook, By Central Station Air Handling Units Coils (2019-2028) ($MN)
48 Europe Fan Coils Market Outlook, By Other Types (2019-2028) ($MN)
49 Europe Fan Coils Market Outlook, By Product (2019-2028) ($MN)
50 Europe Fan Coils Market Outlook, By 1000-2000 CFM (2019-2028) ($MN)
51 Europe Fan Coils Market Outlook, By >2000 CFM (2019-2028) ($MN)
52 Europe Fan Coils Market Outlook, By Fan Coil Unit (2019-2028) ($MN)
53 Europe Fan Coils Market Outlook, By Wall Mounted Fan Coils (2019-2028) ($MN)
54 Europe Fan Coils Market Outlook, By Horizontal Fan Coils (2019-2028) ($MN)
55 Europe Fan Coils Market Outlook, By Cassette Fan Coils (2019-2028) ($MN)
56 Europe Fan Coils Market Outlook, By Vertical Fan Coils (2019-2028) ($MN)
57 Europe Fan Coils Market Outlook, By Distribution Channel (2019-2028) ($MN)
58 Europe Fan Coils Market Outlook, By Direct Sale (2019-2028) ($MN)
59 Europe Fan Coils Market Outlook, By Indirect Sale (2019-2028) ($MN)
60 Europe Fan Coils Market Outlook, By Application (2019-2028) ($MN)
61 Europe Fan Coils Market Outlook, By Industrial Application (2019-2028) ($MN)
62 Europe Fan Coils Market Outlook, By Commercial Application (2019-2028) ($MN)
63 Europe Fan Coils Market Outlook, By Residential Application (2019-2028) ($MN)
64 Asia Pacific Fan Coils Market Outlook, By Country (2019-2028) ($MN)
65 Asia Pacific Fan Coils Market Outlook, By Type (2019-2028) ($MN)
66 Asia Pacific Fan Coils Market Outlook, By Blower Coils (2019-2028) ($MN)
67 Asia Pacific Fan Coils Market Outlook, By Room Fan Coils (2019-2028) ($MN)
68 Asia Pacific Fan Coils Market Outlook, By Central Station Air Handling Units Coils (2019-2028) ($MN)
69 Asia Pacific Fan Coils Market Outlook, By Other Types (2019-2028) ($MN)
70 Asia Pacific Fan Coils Market Outlook, By Product (2019-2028) ($MN)
71 Asia Pacific Fan Coils Market Outlook, By 1000-2000 CFM (2019-2028) ($MN)
72 Asia Pacific Fan Coils Market Outlook, By >2000 CFM (2019-2028) ($MN)
73 Asia Pacific Fan Coils Market Outlook, By Fan Coil Unit (2019-2028) ($MN)
74 Asia Pacific Fan Coils Market Outlook, By Wall Mounted Fan Coils (2019-2028) ($MN)
75 Asia Pacific Fan Coils Market Outlook, By Horizontal Fan Coils (2019-2028) ($MN)
76 Asia Pacific Fan Coils Market Outlook, By Cassette Fan Coils (2019-2028) ($MN)
77 Asia Pacific Fan Coils Market Outlook, By Vertical Fan Coils (2019-2028) ($MN)
78 Asia Pacific Fan Coils Market Outlook, By Distribution Channel (2019-2028) ($MN)
79 Asia Pacific Fan Coils Market Outlook, By Direct Sale (2019-2028) ($MN)
80 Asia Pacific Fan Coils Market Outlook, By Indirect Sale (2019-2028) ($MN)
81 Asia Pacific Fan Coils Market Outlook, By Application (2019-2028) ($MN)
82 Asia Pacific Fan Coils Market Outlook, By Industrial Application (2019-2028) ($MN)
83 Asia Pacific Fan Coils Market Outlook, By Commercial Application (2019-2028) ($MN)
84 Asia Pacific Fan Coils Market Outlook, By Residential Application (2019-2028) ($MN)
85 South America Fan Coils Market Outlook, By Country (2019-2028) ($MN)
86 South America Fan Coils Market Outlook, By Type (2019-2028) ($MN)
87 South America Fan Coils Market Outlook, By Blower Coils (2019-2028) ($MN)
88 South America Fan Coils Market Outlook, By Room Fan Coils (2019-2028) ($MN)
89 South America Fan Coils Market Outlook, By Central Station Air Handling Units Coils (2019-2028) ($MN)
90 South America Fan Coils Market Outlook, By Other Types (2019-2028) ($MN)
91 South America Fan Coils Market Outlook, By Product (2019-2028) ($MN)
92 South America Fan Coils Market Outlook, By 1000-2000 CFM (2019-2028) ($MN)
93 South America Fan Coils Market Outlook, By >2000 CFM (2019-2028) ($MN)
94 South America Fan Coils Market Outlook, By Fan Coil Unit (2019-2028) ($MN)
95 South America Fan Coils Market Outlook, By Wall Mounted Fan Coils (2019-2028) ($MN)
96 South America Fan Coils Market Outlook, By Horizontal Fan Coils (2019-2028) ($MN)
97 South America Fan Coils Market Outlook, By Cassette Fan Coils (2019-2028) ($MN)
98 South America Fan Coils Market Outlook, By Vertical Fan Coils (2019-2028) ($MN)
99 South America Fan Coils Market Outlook, By Distribution Channel (2019-2028) ($MN)
100 South America Fan Coils Market Outlook, By Direct Sale (2019-2028) ($MN)
101 South America Fan Coils Market Outlook, By Indirect Sale (2019-2028) ($MN)
102 South America Fan Coils Market Outlook, By Application (2019-2028) ($MN)
103 South America Fan Coils Market Outlook, By Industrial Application (2019-2028) ($MN)
104 South America Fan Coils Market Outlook, By Commercial Application (2019-2028) ($MN)
105 South America Fan Coils Market Outlook, By Residential Application (2019-2028) ($MN)
106 Middle East & Africa Fan Coils Market Outlook, By Country (2019-2028) ($MN)
107 Middle East & Africa Fan Coils Market Outlook, By Type (2019-2028) ($MN)
108 Middle East & Africa Fan Coils Market Outlook, By Blower Coils (2019-2028) ($MN)
109 Middle East & Africa Fan Coils Market Outlook, By Room Fan Coils (2019-2028) ($MN)
110 Middle East & Africa Fan Coils Market Outlook, By Central Station Air Handling Units Coils (2019-2028) ($MN)
111 Middle East & Africa Fan Coils Market Outlook, By Other Types (2019-2028) ($MN)
112 Middle East & Africa Fan Coils Market Outlook, By Product (2019-2028) ($MN)
113 Middle East & Africa Fan Coils Market Outlook, By 1000-2000 CFM (2019-2028) ($MN)
114 Middle East & Africa Fan Coils Market Outlook, By >2000 CFM (2019-2028) ($MN)
115 Middle East & Africa Fan Coils Market Outlook, By Fan Coil Unit (2019-2028) ($MN)
116 Middle East & Africa Fan Coils Market Outlook, By Wall Mounted Fan Coils (2019-2028) ($MN)
117 Middle East & Africa Fan Coils Market Outlook, By Horizontal Fan Coils (2019-2028) ($MN)
118 Middle East & Africa Fan Coils Market Outlook, By Cassette Fan Coils (2019-2028) ($MN)
119 Middle East & Africa Fan Coils Market Outlook, By Vertical Fan Coils (2019-2028) ($MN)
120 Middle East & Africa Fan Coils Market Outlook, By Distribution Channel (2019-2028) ($MN)
121 Middle East & Africa Fan Coils Market Outlook, By Direct Sale (2019-2028) ($MN)
122 Middle East & Africa Fan Coils Market Outlook, By Indirect Sale (2019-2028) ($MN)
123 Middle East & Africa Fan Coils Market Outlook, By Application (2019-2028) ($MN)
124 Middle East & Africa Fan Coils Market Outlook, By Industrial Application (2019-2028) ($MN)
125 Middle East & Africa Fan Coils Market Outlook, By Commercial Application (2019-2028) ($MN)
126 Middle East & Africa Fan Coils Market Outlook, By Residential Application (2019-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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