Due to harsh environmental conditions observed in offshore applications, it becomes essential to use air handling units manufactured using corrosion-resistant and light-weight materials. Air handling units, also referred to as air handler, acts as lungs of the overall HVAC system and hence becomes a crucial component of the overall system. In offshore applications, the major concern is to protect the air handling units from salty air, rain and stormy weather aboard the offshore facilities. Anoffshore air handling unit is typically designed in a large metal frame (typically made of aluminum) comprising various components such as fans, filters, heating/cooling elements, silencers, and dampers. The outer box is made up of stainless, steel galvanized steel, or aluminum alloys in order to ensure better environmental protection.
Air handling units are commonly used across various applications including oil rigs, cargo ships, cruise liners, navy ships, and other marine applications. With the overall rising offshore industry worldwide, the demand for air handling units in the sector is estimated to remain strong in the following years. This is the prime factor bolstering the offshore air handling unit market growth. Due to rising efforts by the manufacturers towards providing energy-efficient, light-weight, and durable units, the market has emerged quite competitive since the past few years. However, with the onset of the COVID-19 pandemic, the market has witnessed a significant decline due to lockdown measures and economic uncertainties.
The report titled “Global Offshore Air Handling Units Market- Growth, Share, Opportunities and Competitive Analysis, 2020 – 2028” offers strategic insights into the global air handling units market with a focus on the offshore applications along with the market size and estimates for the duration 2018 to 2028. The said research study covers an in-depth analysis of multiple market segments based on product types, capacity, applications, and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2019 & 2028. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities.
In order to help strategic decision-makers, the report also includes competitive profiling of the leading AHU manufacturers, market positioning, and key developments. Some of the major players profiled in the report are GEA Heat Exchangers Group, Wozair Ltd., Mitsubishi Electric, Johnson Controls, Inc., Systemair Ltd., Heinen and Hopman, Flakt Woods Group, Novenco AS and others.
Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global offshore air handling units market, offering market size and estimates for the period from 2020 to 2028, keeping in mind the above-mentioned factors.
The offshore air handling units are used across various offshore and marine applications such as cruise liners, naval ships, oil & gas facilities, carrier vessels, FPSO vessels, and other offshore facilities. Amongst these, the cruise liners and naval ships were the largest consumers of air handling units worldwide. However, on account of the COVID-19 pandemic, a large number of cruise liners and yachts have been docked without any business activities in 2020. Thereby, the segment suffered a significant decline in the year and is expected to only grow from late 2021 or early 2023. However, the demand from other segments such as oil and gas rigs, cargo ships, and defense, among others continued to grow due to continued trade and defense activities.
The overall demand for air handling units is estimated to remain low in the oil & gas sector. The sector is facing a slowdown in different regions across the globe. This may hamper the demand for new installations in the following years. Further, the cargo ships sector is estimated to witness strong growth during the forecast period. With the supply/demand gap of cargo ships improving, the sector may emerge as lucrative for the overall offshore HVAC industry.
In 2019, the offshore air handling units market worldwide was dominated by the Asia Pacific region. The market here is mainly supported by China, Japan, India, South Korea and Southeast Asia. With the booming waterways trade and cruise liners industry in the region, the demand for offshore air handling units is estimated to remain strong in the market throughout the forecast period. China and India are expected to emerge as the most promising markets during the forecast period.
Europe closely followed the Asia Pacific region, in terms of revenue, of the global offshore air handling units market. The region has among the largest oil & gas, cruise liners, and cargo shipping industries. In addition, Europe (majorly Western Europe) enjoys presence of large number of major offshore air handling unit manufacturers. Nevertheless, losing momentum of the oil & gas sector in the region might slowdown the overall growth in the following years.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Offshore Air Handling Units market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
