Market Overview:

The global floor mounted fan coil market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Major factors driving market revenue growth include rapid urbanization, rising investments in infrastructure development by both government and private agencies, presence of established manufacturers, and technological advancements.

A floor mounted fan coil, also referred to as a Fan Coil Unit (FCU), is a device that consists of a heating or cooling heat exchanger, a coil, or a fan. In addition, it is a component of Heating, Ventilation, and Air Conditioning (HVAC) systems in residential, commercial, and industrial buildings. This device heats or cools a room without the use of ductwork by using a coil and a fan. Further, it is used to regulate temperature of space in which it is installed and can be controlled manually with an on/off switch or automatically with a thermostat. Using a control valve and fan speed, thermostat regulates flow of water to the heat exchanger.

Major Factors Driving Growth of The Global Floor Mounted Fan Coil:

Rapid rise in Real Estate industry is expected to surge sales of floor coils, with increasing number of residential and commercial buildings. Another major factor driving growth of the market is rapid development of data centers around the world. Data centers are areas that house computer servers and require a constant supply of cool air. Increasing reliance on the internet and social media, combined with technological advancements, has resulted in an increase in the number of data centers. Furthermore, rising global concerns about global warming are expected to boost sales of wall fan coils. Globally, the temperature is increasing at a rapid rate, which is expected to surge demand for cooling systems. This, in turn, is expected to contribute to growth of the market over the forecast period.

Factors Restraining Growth of The Global Floor Mounted Fan Coil:

The global floor mounted fan coil growth is substantially hampered by several unfavorable factors. Rise in number of local players is expected to be a major factor expected to restrain market growth to a certain extent going ahead. Local players offer same products at a lower cost, limiting the growth of major players. Furthermore, these local players may not be able to offer high-quality products at a lower cost, which could have an effect on sales of wall fan coils.

Opportunities For Players Operating in The Global Floor Mounted Fan Coil:

Focus on developing machinery and equipment that are available at lower cost and need for more advanced designs and safety features are expected to provide lucrative opportunities for key players. Rapid infrastructure development around the world has led to rise in demand for floor mounted fan coil, while attracting new players in the market. Apart from this, promotion of green manufacturing equipment further supports market growth.

Global Floor Mounted Fan Coil Revenue Led by Product Type Segment:

Based on product type, the surface mounted segment is expected to reach the highest revenue share over the forecast period. Increasing global warming and rise in temperature around the world has led to high demand for Surface Mounted Fan Coil. High efficiency, versatility, and increasing adoption are key factors driving the growth of this segment.

Global Floor Mounted Fan Coil Leading End-Use Segment:

Based on end-use, the commercial building segment is expected to dominate all other segments in terms of revenue generation over the forecast period. Major factors contributing to this segment’s growth are rapid urbanization, increasing commercial sector projects around the world, and a desire for a comfortable and lavish commercial office.

North America Accounts for Largest Revenue Share in Global Floor Mounted Fan Coil:

Among regional markets, North America emerged as the largest market for floor mounted fan coil market in 2020, with the highest revenue share. Manufacturers are building their system portfolio in various installations such as ceiling-mounted, floor-mounted, duct, and cassette fan coils. They are increasing the availability of ceiling mounted fan coils that include high efficiency brushless motors. In addition, manufacturers are using attractively designed casing for fan coils suitable for residential heating and air conditioning applications.

Asia Pacific Continues to Lead in Terms Of Revenue CAGR:

The Asia Pacific floor mounted fan coil is expected to register the fastest growth in CAGR over the forecast period. Rapid urbanization, significant rise in construction activities, particularly in developing countries including India, China, Malaysia, and Indonesia, rising government investments, development of new industries, and rising commercial sector are major factors driving the APAC market growth. High temperature and humid climate in countries such as Japan and Indonesia will further drive market growth in this region.

Major Companies Profiled In The Report:

  • Lazada
  • CARRIER
  • Toshiba Air Conditioning
  • Mitsubishi
  • Samsung
  • LG
  • Temperzone
  • MHIAA
  • Phoenix Aircon 

Strategies And Objectives of Major Companies:

  • On June 7, 2021, Daikin announced its Management Plan, Fusion 25 from 2021-2025. Daikin’s growth strategy themes include challenge to achieve carbon neutrality, strengthening connected technology, establishing a robust supply chain, and promoting Digital transformation supporting innovation. This is estimated to help the company strengthen its position in the long-term.
  • In March 2021, Carrier Corporation launched a new series of high wall ductless systems, including the 40MAHB indoor unit and 38MARB outdoor unit, and the multi-poise 40MBAA air handler. This is projected to provide increased benefits to the company, thereby generating sales and consumers.
  • In January 2021, Trane Inc. partnered with the U.S. Government to join Paris Climate Agreement to reduce the demand for energy and carbon emissions from buildings and transportation systems. The Paris Agreement has led to several climatic changes by introducing technologies such as fan coils in indoor HVAC systems to reduce overall impact of climate changes. The company benefitted by introducing fan coils as a part of Paris Climate Agreement.

What Our Report Provides and Why Our Offering Is Better:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2018 to 2028. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.

Detailed Segmentation In Our Report:

For the purpose of this report, the global floor mounted fan coil is segmented on the basis of product type, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

  • Surface Mounted
  • Conceal Install

End-use Outlook (Revenue, USD Billion; 2018-2028)

  • Commercial Building
  • Industrial Building

Region Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

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