HVAC Damper Actuators Market Size, Share, Growth, and Industry Analysis by Type (Spring Return Damper Actuators and Non-Spring Return Damper Actuators), By Application (Commercial Building, Industrial Facilities, Public Utilities, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

HVAC Damper Actuators Market Report Overview

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The global HVAC damper actuators market size was USD 1438 million in 2021 and is projected to touch USD 1997.26 million by 2031, exhibiting a CAGR of 3.3% during the forecast period.

HVAC damper actuators are motor-operated rotary actuator. The actuator is used in motor limits switches, opening transmitters, speed reduction, overload switches, and manual handling when mechanism are united. The machinery is extensively used in various non-residential applications for its government approval procedures and standardization of building design. The device is used to control the opening and closing of a damper in a ventilation, heating, or HVAC and air conditioning system.

Growing demand for loT (internet of things) in HAVC industry is expected to surge market progress. High demand for the product in the developing countries is anticipated to propel market expansion. Growing installation of the product in the control system across various sectors is estimated to drive market growth in the coming years. Rapid industrialization and urbanization are anticipated to fuel market growth. Growing construction activities are predicted to surge market development. However, financial uncertainty and macroeconomic situation are anticipated to hinder market growth 

COVID-19 Impact: Shutdown of Construction Activities to Hinder Market Progress

The global COVID-19 pandemic has been unprecedented and staggering, with HVAC damper actuators experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Shutdown of construction activities globally restricted market growth. Lockdown restrictions and curfews minimized market expansion. Closing of public utilities decline product demand. Unavailability of employees and workers halted production activities. 

However, the market is estimated to show significant market growth due to growing need to boost commercial buildings and industrial facilities.

LATEST TRENDS

"Escalating Demand from Commercial Building to Incite Market Growth "

Increasing demand for commercial buildings is anticipated to accelerate market growth. The equipment helps to control the opening and closing of a damper in a ventilation, heating, or HVAC and air conditioning system. Such advantages are anticipated to fuel market growth. Increasing air quality ventilation demand is predicted to accelerate market growth in the coming years. The equipment helps to maintain high temperatures, and much dust in bad condition is predicted to surge market growth. It helps to minimize operation costs is anticipated to surge market expansion during the forecast period. Growing demand for the equipment in non-residential applications is anticipated to surge market growth. Increasing need for efficient programs and government regulation is predicted to surge HVAC damper actuators market progress.

HVAC Damper Actuators Market Segmentation

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• By Type

Based on type, the market is divided into spring return damper actuators and non-spring return damper actuators.

Spring return damper actuators are expected to be the leading part of the segmentation type.

• By Application

Based on the application, the market is divided into commercial building, industrial facilities, public utilities, and others.

Commercial building is expected to be the leading part of application segmentation.

DRIVING FACTORS

"Rapid Industrialization and Urbanization to Foster Market Expansion"

Increasing industrialization and urbanization across the world are anticipated to surge market growth. Growing need of the internet of things (loT) in HAVC sector is anticipated to accelerate market expansion. The equipment is easy to maintain and has high reliability. Such advantages are predicted to surge market growth during the forecast period. Further, it can operate with remote control under poor conditions such as much dust, high place, and high temperature. Such benefits associated with the equipment are projected to drive market progress in the coming years. Growing demand from industrial facilities is estimated to accelerate market growth. The equipment is made of aluminum, stainless steel, and galvanized steel. Such composition of a product is estimated to accelerate market growth in the coming years. Increasing government initiatives to establish new industries are anticipated to propel HVAC damper actuators market growth in the forthcoming years.

"Advantages Associated with Equipment to Stimulate Market Progress "

The equipment is designed for durability and efficiency, which is projected to drive market growth. The product is quick and has precise function control. Such benefits of the product are estimated to accelerate market growth in the forthcoming years. The equipment is commonly used in construction sites, transportation, and operation activities. The product has low energy consumption and long longevity, which is anticipated to accelerate market expansion. The equipment is also used for volume control for its flexibility and stability. The equipment is safe to handle and has a power outage in special applications. Such benefits are anticipated to propel HVAC damper actuators market growth.

RESTRAINING FACTORS

"Lack of Awareness and Financial Uncertainty to Hinder Market Expansion"

Lack of awareness associated with the equipment is predicted to hamper market growth. Uncertainty in financial macroeconomic situation is predicted to hinder market development. Lack of skilled professional is projected to impact market growth during the forecast period.

HVAC Damper Actuators Market Regional Insights

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"Growing Technological Advancement in Asia Pacific to Drive Market Share "

Asia Pacific holds the majority of HVAC damper actuators market share due to growing technological advancement. Government initiatives and regulations for energy efficiency mandates are projected to drive market growth. Increasing urbanization and industrialization in the region are anticipated to surge market growth. Growing need of the internet of things (loT) in HAVC sector is anticipated to accelerate market expansion. The equipment is easy to maintain and high reliability. Such advantages are predicted to surge market growth during the forecast period.

Europe is anticipated to witness higher growth rate due to increasing need from developing region. Growing demand for loT (internet of things) in HAVC industry is estimated to surge market growth. The equipment is designed for durability and efficiency, predicted to drive market growth. The product is quick and has precise function control. Such benefits of the product are estimated to accelerate market growth in the forthcoming years. The equipment is commonly used in construction sites, transportation, and operation activities and is anticipated to surge HVAC damper actuators market expansion.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Belimo (Switzerland)
• Johnson Controls (Ireland)
• Siemens (Germany)
• Honeywell (U.S.)
• Rotork (U.K.)
• Schneider (France) 
• Azbil Corporation (Japan)
• Neptronic (Canada)
• KMC Controls (U.S.)
• Dura Control (India) 
• Dwyer Instruments (U.S.)
• Hansen Corporation (U.S.)
• Kinetrol (U.K.)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.