HVAC Fan and Evaporator Coil Market Analysis by Trends, Forecasts and Regions

Global HVAC fan and evaporator coil market size is poised to experience a steady growth through 2026. The industry trends will be largely be influenced by ongoing research and development activities and constant technological innovations by manufacturers aimed at minimizing power consumption and enhancing operational performance, efficiency, and reliability. With growing residential and industrial development especially across emerging markets, HVAC parts and components are expected to witness a notable demand.
Fan and evaporator coils play an essential role in ensuring a safe, reliable, and optimum operation of HVAC systems. These coils make it possible for the air conditioning system or heat pump to complete the heat exchange process efficiently. Fan coils heat and circulate air in the air heating or conditioning system whereas evaporator coils work with these systems to condition the air for circulation throughout the environment.
Factors such as corrosion, dirt and dust accumulation, or damage may affect the performance of the system. As a result, high quality coil products are necessary to ensure integrity and efficiency of the system. Manufacturers are constantly focusing on designing advanced components that provide robust durability, stability, and longer-term utilization.
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On the basis of distribution channel, HVAC fan and evaporator coil industry is segmented into OEMs and aftermarket. Aftermarket distribution channel segment accounted for a market share of more than 20% in terms of revenue during 2019 and is likely to record substantial gains by 2026. Traditionally, OEM’s had dominated the industry share. However, over the past few years, HVAC component sales via the aftermarket distribution channel have garnered momentum. This can be attributed to increasing need for coil replacement, especially in well-established markets such as North America and Europe.
One of the major reasons for growing inclination towards aftermarket channels is that aftermarket parts are considerably more affordable than OEM. Considering the product quality, aftermarket components can at times even have a superior quality compared to OEM parts.
In terms of the regional outlook, Latin America HVAC fan and evaporator coil industry size is slated to witness notable growth through 2026. Driven by rapid population growth and urbanization, the region has experienced rapid expansion of residential and industrial sectors. These trends have augmented the demand for reliable and efficient HVAC components including fan and evaporator coils.
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Latin American countries have witnessed a high rate of industrialization compared to several other developing economies. Manufacturing companies in the region are likely to upgrade existing facilities and build new production units with latest HVAC technologies. As a result, the industrial sector is expected to be among the biggest end-users for HVAC fan and evaporator coil industry in Latin America.
Table of Contents
Chapter 1 Methodology And Scope
	
1.1 Methodology	
		
1.1.1 Initial data exploration
		
1.1.2 Statistical model and forecast		
			
1.1.2.1 COVID-19 impact calculations on industry forecast
		
		
		
1.1.3 Industry insights & validation
		
1.1.4 Definitions & forecast parameters
	
	
	
1.2 Data sources	
		
1.2.1 Primary
		
1.2.2 Secondary		
			
1.2.2.1 Paid
			
1.2.2.2 Public