Summary

The global Fan Coil Unit Market is expected to grow at a significant rate of around 5% during the forecast period. A device that heats or cools a room without connecting to ductwork is known as a fan coil unit (FCU). Without utilizing ductwork, fan coil units cool and heat rooms by utilizing a fan and a coil. The market is expanding due to the rising demand for energy-efficient FCU models and the growing use of HVAC systems in both residential and commercial buildings. In addition, the market expansion is anticipated to be aided by the rising real estate demand for low-energy products.

Moreover, growing environmental concerns and permissive regulatory policies are positively influencing the market size of heat pumps. For instance, Domestic RHI and the Non-Domestic RHI, by the government of the United Kingdom is a financial incentive scheme set up to encourage the installation and usage of renewable heating technologies in existing homes. Such initiatives are expected to fuel market growth over the forecast period.

Barcol-Air (UK) Ltd, Crane Holdings Co., Haier lnc., Hitachi Ltd., Johnson Controls, LG Electronics, Midea Group, Mitsubishi Electric Corporation, Samsung, TROX GROUP are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst type, horizontal concealed category to witness robust CAGR during the forecast period”
Based on type, the market is segmented into horizontal concealed, horizontal exposed, underfloor, and wall mounted. Among them, the horizontal concealed category is to witness the highest CAGR during the forecast period owing to the high demand for horizontal concealed fan coils in hotels, apartments, dormitories, military barracks, assisted living, facilities, and offices because of its features such as highly compact, super lightweight design, high thermal efficiency, and lower operating costs.

“Amongst application, the commercial to hold a significant share in the market in 2020”
On the basis of application, the market is fragmented into residential, commercial, and industrial. Among them, the commercial category is anticipated to the significant growth during the forecast period. This is mainly due to the rising demand for FCUs in hotels and restaurants.
Moreover, with an increasing number of construction projects, the requirement for HVAC systems is projected to rise considerably, which in turn is expected to boost the demand for fan coil units during the forecast period.

“North America to hold a significant share in the market”
For a better understanding of the market adoption of the fan coil unit industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the high demand for HVAC systems in residential or commercial buildings, growing construction projects, increasing demand for low energy consumption products in real estate, and rising concerns about air quality and increasing HVAC applications in the air conditioning sector and heating projects are expected to enhance the demand for fan coil units in the region.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global fan coil unit market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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