The “Europe & South East Asia (SEA) Fan Coil Unit Market” 2022-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period.
The Europe & South East Asia (SEA) fan coil unit market held a market value of USD 1,150.8 Million in 2020 and is forecasted to reach USD 1,663.6 Million by the year 2027. The market is expected to grow at a CAGR of 5.7% over the forecast period. The market volume in 2020 was around 1,408.7 thousand units.
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Fan coil units are devices which use a fan and a coil for cooling and heating rooms without connecting to ductwork. They are also known as vertical fan coil-unit (VFC). Increase in demand for energy-efficient FCU models coupled with the rising adoption of HVAC system in commercial & residential buildings are the factors fueling the market growth. Furthermore, the increasing demand for low energy consumption products in real estate is also anticipated to boost the market growth. The market is expected to be negatively hampered owing to the chilled beam systems used as an alternative for fan coil unit.
Growth Influencers:
Growing demand for energy-efficient FCU models
Increasing awareness regarding energy-efficient equipment is anticipated to boost the market growth. Energy efficiency is also a major concern associated with the use of conventional HVAC systems. The residential, industrial, and commercial sectors utilize nearly 1 trillion kilowatt hours of electric power in a year. Many end-users seek energy-efficient equipment which require less energy and also lower the electricity bill and result in lowering the carbon emission. This is expected to increase the demand for energy-efficient FCU models.
Segments Overview
The Europe & South East Asia (SEA) fan coil unit market is classified into configuration, model type, and application.
By Configuration,
• Two Pipe FCU
• Four Pipe FCU
The two pipe FCU segment is expected to hold the largest market share of about 55% owing to its increasing demand. The four pipe FCU segment is anticipated to grow at the fastest growth rate during the forecast period owing to technological advancements.
By Model Type,
• Wall Mounted
• Floor Standing
• Ceiling Mounted
o Cassette
o Concealed
The wall mounted segment is expected to surpass a market volume of about 507.7 thousand units by 2027 as its adoption is estimated to increase significantly. Within the ceiling mounted segment, the cassette segment is anticipated to witness a volume CAGR of 6.1% during the forecast period.
By Application,
• Commercial
o Hotels & Restaurants
o Hospitals
o Office Spaces
o Retail
o Others
• Industrial
• Residential
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The commercial segment is expected to hold the largest market share of about 66% owing to increasing demand for fan coil units in hotels and restaurants, which is expected to cross a volume of 380 thousand units in 2027. The residential segment is expected to witness a growth rate of 4.5%.
Regional Overview
On a regional basis, the Europe region is segmented into the UK, Germany, France, Italy, Spain, Netherlands, and Rest of Europe. The South-East Asia region is classified into Indonesia, Thailand, Singapore, Malaysia, Philippines, Vietnam, Myanmar, and rest of SEA.
Within Europe, Italy held the largest value share of about 29% owing to stringent government regulations regarding energy consumption. Netherlands in estimated to surpass a market volume of about 19 thousand units in 2027 owing to the increasing number of construction projects in the country.
The South East Asian is anticipated to surpass a market volume of about 148 thousand units in 2025 owing to the growing number of residential and commercial projects. Indonesia held the largest value share of about 27% and Vietnam is expected to register a growth rate of 7.6% owing to the rising focus of market players in these countries.
Competitive Landscape
Key players operating in the Europe & South East Asia (SEA) fan coil unit market include Barcol-Air (UK) Ltd, Carrier Corporation, Daikin Europe N.V., Euroclima, Haier Group Corp., Hitachi Ltd., Johnson Controls, Inc., Midea Group, Trane Europe, Trox Group, and other prominent players.
The approximate market share of the six major players is close to 60%. These market players are involved in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in September 2019, Toshiba Home Appliances launched a comprehensive product portfolio consisting of washing machines, rice cookers, refrigerators, and microwave ovens for consumers in the EMEA region.
The Europe & South East Asia (SEA) fan coil unit market report provides insights on the below pointers:
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• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the Europe & South East Asia (SEA) fan coil unit market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The Europe & South East Asia (SEA) fan coil unit market report answers questions such as:
• What is the market size and forecast of the Europe & South East Asia (SEA) fan coil unit Market?
• What are the inhibiting factors and impact of COVID-19 on the Europe & South East Asia (SEA) fan coil unit Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Europe & South East Asia (SEA) fan coil unit Market?
• What is the competitive strategic window for opportunities in the Europe & South East Asia (SEA) fan coil unit Market?
• What are the technology trends and regulatory frameworks in the Europe & South East Asia (SEA) fan coil unit Market?
• What is the market share of the leading players in the Europe & South East Asia (SEA) fan coil unit Market?
• What modes and strategic moves are considered favorable for entering the Europe & South East Asia (SEA) fan coil unit Market?
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