Global Fan Coils Market Overview:
Fan coils are the product or a simple device which consists of both heating and cooling heat exchanger coil. These coils are the part of an HVAC system which is majorly found in both residential and commercial buildings. It is used in an application where we need to control the temperature in a space. Moreover, it can also serve multiple spaces. Fan coils are operated either by manual approach or by a thermostat. An increasing number of residential and commercial space are driving the necessities for fan coils.
As per latest study released by AMA Research, the Global Fan Coils market is expected to see growth rate of 6.0%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Adoption of Automatic Operated Fans
Market Growth Drivers:
Increasing Demand From Residential Spaces and Rising Number of Smart Infrastructures
Challenges:
Issue Related to the Repair Abilities of these Fans and Poorly Suited to Open-Plan Spaces, as Adjacent Units can Operate in Conflict
Restraints:
High Usages of Other Available Consumer Goods Such as Air- Conditioner
Opportunities:
High Technological Development by Vendors from Traditionally Fans to Automatic Fans and Rising Demand Due to Benefits About Fan Coils Unit in Electronic Sector
Competitive Landscape:
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies.
Some of the key players profiled in the report are Carrier (United States), Johnson Controls (United States), Daikin (Japan), Trane (Ireland), IEC (Switzerland), Williams (United States), Zehnder (Switzerland), Airtherm (Canada), Coil Company (United States) and Panasonic (Japan). Additionally, following companies can also be profiled that are part of our coverage like Chiller Ltd.(Finland), LEEL COILS EUROPE s.r.o.(Czech Republic), TANGRA AHU PRODUCTS (Bulgaria), AERMEC S.P.A.(Italy) and Complete Ventilation Solutions Ltd.(United Kingdom). Analyst at AMA Research see Global Vendors to retain maximum share of Global Fan Coils market by 2030. Considering Market by Distribution Channel, the sub-segment i.e. Direct Sale will boost the Fan Coils market. Considering Market by End-User, the sub-segment i.e. Residential Use will boost the Fan Coils market. Considering Market by Fan Coil Unit, the sub-segment i.e. Wall Mounted Fan Coils will boost the Fan Coils market.
Latest Market Insights:
In October 2023, Johnson Controls (JCI) announced the acquisition of Daikin Applied Americas, a leading provider of applied HVAC systems including fan coils. This move expands JCI's portfolio and strengthens its position in the commercial building market.
In January 2021, Dunham-Bush has launch new generation of chilled water fan coil unit – CR-CF. this new launch is available in wide range of capacities. it is mainly designed to operate at low noise and high efficiency performance. With this launch, company has strengthen its position is the market.
What Can be Explored with the Fan Coils Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Fan Coils Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Fan Coils
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Fan Coils market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Fan Coils market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Fan coils Manufacture, Fan coils Distributors, Potential Investors, End-User and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.