North America Air Handling Units Market Revenue to cross US$ 4.65 Billion by 2031

Pressing Need for Energy-Efficient Solution Boosts North America Air Handling Units Market Growth

According to our latest market study on "North America Air Handling Units Market Size and Forecast (2021–2031), Regional Share, Trend, and Growth Opportunity Analysis — by Configuration, Capacity, Type, and Application," the market was valued at US$ 3.20 billion in 2023 and is anticipated to reach US$ 4.65 billion by 2031; it is estimated to record a CAGR of 4.8% from 2023 to 2031. The report includes growth prospects in light of current North America Air Handling Units Market trends and driving factors influencing the market growth.

Growth in the US population and economy, combined with rising urbanization, is projected to cause a significant increase in energy demand in the country in the future. According to Worldometers, the US population registered a steady growth from 2021 to the present—82.4% of the population resided in urban areas as of September 2024. Similarly, as of January 1, 2024, Canada's population was 40,769,890, an increase of 1,271,872 individuals from January 1, 2023. Meeting rapidly increasing energy demand while lowering detrimental greenhouse gas emissions presents a significant challenge for the energy system and the US government. Thus, the need for devices and practices promoting energy efficiency and energy saving is on the rise in the country. Air handling units (AHUs) have the ability to heat and cool the air more efficiently. They are particularly designed to transfer heat from the incoming air to the outgoing air with negligible energy loss. Because of this, the air inside the building is heated or cooled more quickly and efficiently, leading to significant energy savings.

In addition, the AHUs can filter and purify the air. An AHU's filter eliminates pollutants from incoming air, including dust, pollen, and other particles. This not only improves indoor air quality but also reduces the workload on the HVAC system, potentially leading to energy savings. Furthermore, several AHUs are equipped with variable speed drives (VSDs). These systems allow the fan to function at different speeds based on the amount of air that has to be circulated. This can result in energy savings by minimizing the amount of energy consumed to circulate air that is not required. Thus, such energy-efficient benefits of AHUs lead to significant cost savings for building owners and operators, thereby fueling the North America air handling units market growth.

The scope of the North America air handling units market report focuses on the US, Canada, and Mexico. The US held the largest North America air handling units market share in 2023. The population in the US is steadily rising, in turn propelling the need for energy-efficient devices. According to the Worldometers, the US population was 345,426,571 till mid-2024, which was around 4.23% of the total world population. This rise in the population is fueling the demand for more efficient heating and cooling solutions in the US. Also, the country is witnessing a surge in the construction activities. For instance, the construction of the Kansas City National Security Campus Expansion project in Kansas City (Missouri, US) was initiated in Q3 2024 and is expected to be completed by Q4 2031. Similarly, the construction of the Dallas Fort Worth International Airport Expansion project began in Q3 2024 with an aim to develop the airport with new national and international routes. The project is expected to be completed by Q2 2027. Upon completion, it will be the 6th terminal capable of handling more than 200 flights per day. Furthermore, several consumer-driven developments are shaping the food and beverage business in the US. The primary trends are health and well-being, sustainability, and technology. Thus, the growing food industry in the US is propelling the demand for advanced air conditioning, which is likely to impact positively on the North America air handling units market forecast in the next few years. 

Similarly, Canada held the second-largest North America air handling units market share in 2023. The pharmaceutical industry in Canada consists of companies that develop and manufacture novel medications, generic pharmaceuticals, and over-the-counter prescription items. Pharmaceutical sales in Canada account for 2.2% of the global market, making it the world's eighth largest. Since 2017, compound annual growth has been positive, i.e., at 6.4%. In 2022, the top 10 pharmaceutical companies accounted for more than half of total Canadian pharmaceutical revenues, including both prescription and non-prescription drugs. Keeping a clean and controlled environment is critical to assuring product safety and efficacy. An air handling unit (AHU) contributes significantly to attaining this goal by supplying controlled and filtered air to various cleanrooms, laboratories, and production facilities. Thus, the growing pharmaceuticals industry in the country is fueling the growth of the air handling units market in Canada.

Carrier Global Corp, Air Wise Sales Inc., Daikin Industries Ltd, Johnson Controls International Plc, Haakon Industries, VTS Group, Trane Technologies Plc, TROX GmbH, WOLF Anlagen-Technik GmbH & Co. KG, Rheem Manufacturing Co, Munters Group AB, and Sabiana SpA are among the key players profiled in the North America air handling units market report. Several other major players were also studied and analyzed in the market report to get a holistic view of the market and its ecosystem. The North America air handling units market analysis provides detailed market insights, which help the key players strategize their growth.

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