According to the new research report "Dedicated
Outdoor Air System Market by Capacity (Less than 20, 20-40, 40-60, and
greater than 60), Implementation Type (New Construction, Retrofit), Vertical
(Commercial, residential, and Industrial), Requirement, and Geography - Global
Forecast to 2024", the DOAS market is expected to grow from USD 3.7
billion in 2019 to USD 5.4 billion by 2024, at a CAGR of 8.0%. The growth of
this market is mainly driven by factors such as increasing adoption of DOAS for
various verticals, and growing government regulations and policies for energy
saving. Growing demand for energy-efficient DOAS systems for new construction
and retrofit site is expected to create significant growth opportunities for
players in the DOAS market during the forecast period.
Market for new construction to grow at higher CAGR during
2019–2024
The market for new construction implementation type is
expected to grow at a higher CAGR from 2019 to 2024. New construction and
development projects play an important role in the continued existence of the
DOAS industry. Growing urbanization, economic growth, and rising disposable
income in emerging economies such as Asia, the Middle East, and Africa are fueling
the growth of the DOAS industry. Governments are making large investments in
real estates, such as hotels, hospitals, airports, and apartments to develop
the infrastructure. These initiatives would have a positive impact on the DOAS
market.
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20–40 ton capacity expected to be largest market during
2019–2024
20–40 ton capacity are expected to grow at the highest CAGR
from 2019 to 2024. Increasing adoption of 20–40 ton capacity of DOAS in
commercial and residential applications provides opportunities for DOAS to grow
at a high rate during the forecast period. DOAS is an assembled packaged unit
that can function within a wide range of ambient conditions and allow
ventilation air into a building at neutral conditions. Hence, increasing usage
of 20–40 ton capacity of system provides ample opportunities to grow at a
higher rate during the forecast period.
Rising demand for energy-efficient system to boost demand
for DOAS in APAC during forecast period
China and India are expected to be a major contributor to the
growth of the DOAS market in APAC in the coming years. Growing construction
activities in commercial and residential buildings are expected to propel the
growth of the DOAS market in China during the forecast period. In China, there
is a strong demand for DOAS to meet the rising need for energy consumption; the
government is coming up with various initiatives to promote efficient energy
consumption practices, which is driving the demand for DOAS in the country.
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Key players in the market include Johnson Controls (US),
United Technologies Corp. (US), Greenheck Fan Corporation (US), Daikin
Industries Ltd. (Japan), Nortek, Inc. (US), Ingersoll Rand Plc (Ireland),
Mitsubishi Electric (Japan), LG Electronics (South Korea), SEMCO, LLC
(US), and Samsung Electronics (South Korea). These players are increasingly
undertaking product launches and developments, contract, partnerships, and
agreements, mergers and acquisitions, and expansions to develop and introduce
new technologies in the market.