Wall Fan Coil Market – Overview
Wall fan coils, also known as fan coil unit (FCU) is a device consisting of a heating or cooling heat exchanger or a coil or a fan. It is a part of HVAC systems found in residential, commercial, and industrial buildings. Wall fan coil is a device which uses a coil and a fan to heat or cool a room without connecting to a ductwork. A wall fan coil is used to control the temperature of the space where it is installed which can be controlled either manually through an on and off switch or by a thermostat. The thermostat controls the throughput of water to the heat exchanger using a control valve and/or the fan speed. Wall fan coils are less expensive to install compared to a ducted system, and are available in floor-mounted, ceiling, and freestanding configurations.
Wall Fan Coil Market – Drivers and Restraints
The wall fan coil market is anticipated to expand at a considerable pace in the near future. Boom in the real estate industry is anticipated to increase the sales of wall coils, with increase in the number of residential and commercial buildings. Regions like the Middle East and Asia are thriving in terms of skyscrapers for residential and commercial spaces, and positive growth opportunities are expected for heating and cooling systems in these regions. Also, exponential growth of data centers across the globe is another prime reason for the growth of the wall fan coil market. Data centers are the areas where computer servers are stored, that requires continuous supply of cool air.
Increasing dependence on the internet and social media along with advances in technology has led to the increase in number of data centers. Additionally, rising concerns regarding global warming worldwide is anticipated to boost the sale of wall fan coils. Globally, the world’s temperature is raising annually at a considerable pace. Hence, installation of cooling systems is increasing. This in turn is anticipated to drive the growth of the wall fan coil market. Additionally, growth in tourism industry globally has enhanced the construction of hotels and public infrastructure where heating and cooling systems can be widely utilized.
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However, increasing number of many local players is anticipated to be a restraint for the overall growth of the wall fan coil market. Local players provide the same product at much cheaper rate which impacts the growth of bigger players in the short run. Additionally, these local players may not be able to provide quality products at a cheaper rate.
This may impact the sales of wall fan coils. Moreover, wall coils of good quality comes at a cost which cannot be afforded by many consumers. However, technological advancement in creating more advance heating and cooling systems that are more energy efficient and cheaper, which can help to penetrate in new markets can be an opportunity for the growth of the wall coil market.
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Wall Fan Coil Market – Segmentation The global wall fan coil market can be segmented on the basis of type, end use application, and geography. In terms of type, the wall fan coil market can be segmented into outfit and installation. Based on end use application, the wall fan coil market can be segmented into residential buildings, commercial buildings, and industrial buildings.
In terms of geography, the wall fan coil market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Wall Fan Coil Market – Key Players Some of the prominent players operating in the wall fan coil market includes Carrier Corporation, Daikin Industries, Ltd., Trane Inc., Williams Corporation, Zehnder Group, IEC, Refra etc. All these players compete with each in terms its product portfolio and various technologies associated with it to gain the competitive edge.