North America Variable Air Volume Systems Market

North America dominated the global variable air volume (VAV) systems market due to the high usage of the variable air volume (VAV) systems in commercial buildings, residential buildings, and industrial buildings. 

There is growing usage of the variable air volume (VAV) systems in the various end-industries such as retail, office, hospitality, and warehouse. The high per capita income, huge customer base, high living standard, and huge migration rate shall stimulate market growth. 

The United States accounts for the highest market share of 87% in 2019 owing to the high investments for the development of the infrastructure for commercial buildings and residential buildings. According to a survey ‘Non-residential building spending to grow through 2020’ by American Institute of Architects, the overall non-residential sector is expected to increase by 0.9% in 2020 and 1.5% in 2021. However, construction of hotels is expected to dip by 1% in 2020 and 0.7% in 2021. On an optimistic note, construction of office spaces is however expected to increase by 0.5% in 2020 and further by 3% in 2021. The industrial sector is expected to rise by 0.5% in 2020 and by 0.3% in 2021, according to the same survey.

Moreover, the United States and Canada rank among the world's top 10 energy-consuming countries, with the United States taking the second place, only behind China. Additionally, small commercial buildings are responsible for an increasing share of the US energy consumption and account for 90% of the total number of commercial buildings in the United States. US citizens nearly use 30% of the world's energy, and in the country, small commercial buildings account for approximately 10% of the country’s energy consumption.

Hence, the increased activity within the industrial sector, comprising manufacturing facilities (specifically the food industry), hospitals, data centers, and other institutional and industrial facilities, has been driving the market demand for variable air volume systems market.

On the other hand, Canada variable air volume systems market is likely to reach USD 299.71 million in 2027, from its recorded value of USD 207.50 million in 2019, growing with a CAGR of 5.83% during the forecast period, owing to increased application of VAV systems in commercial and residential sectors. 

In Canada, the residential and commercial sectors have been witnessing steady growth in the recent past. During 2018 and 2019, the country witnessed some of the largest construction projects, such as Harwood Condominium, Power and Adelaide Condominium, Abbotsford Law Courts, and Amazon Distribution Centre/Ottawa. Moreover, construction of hotels is rising at a rapid pace in the country. At the end of 2019, almost 1,600 hotel rooms were under various stages of development in Metro Vancouver. Therefore, all such market trends are expected to simultaneously drive the demand for VAV systems in the country over the next five years.

Mexico's variable air volume systems market is expected to grow with a CAGR of 5.48%,  likely to reach USD 334.32 million in 2027, from its recorded value of USD 254.73 million in 2019. The total construction output in Mexico is expected to grow over the coming years, owing to the increase in investments by the government to provide affordable houses, and increase commercial construction activities in the country. 

The Mexican commercial sector continues to receive strong capital investments, both from the foreign and domestic sectors, thereby driving new construction, which, in turn, is expected to increase the demand for variable air volume systems in the coming years. 

Moreover, Mexico represents one of America's largest construction pipelines with an all-time high 228 projects (41,609 rooms) in 2019. The Mexican hotel market too is growing quickly and has 131 properties in the pipeline at present. According to the top hotel.news, in 2021, 35 hotels and 10,759 rooms are expected to be in the pipeline, while for 2022, another 14 properties are planned. 

Things are expected to slow down a bit in 2023 with only four launches, while for 2024 and beyond 15 more hotels are underway. Hence, all such industrial investments and projects are expected to drive the demand for VAV systems market in the country over the forecast period. 

Moreover, Mexico's energy consumption has increased from 30% a decade ago to over 40% in 2018 and accounts for 60% of electricity generation. Total energy consumption per capita is 1.3 to and electricity consumption per capita reached around 2 300 kWh (2019). As the variable air volume systems are energy-efficient and capable of cooling and heating modern buildings, the demand for these systems is expected to grow.

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