Dedicated Outdoor Air System Market Projected to reach $5.4 billion by 2024 | Key players include Johnson Controls, Ingersoll Rand Plc, Mitsubishi Electric and LG Electronics
A dedicated outdoor air system (DOAS) is an HVAC unit that is installed outside a building and is often used along with other HVAC equipment. DOAS units bring fresh outside air into the building independent of heating or cooling efforts. In this design, a central, dedicated outdoor air unit is used to dehumidify and improve the outdoor air to meet both latent-cooling load and ventilation requirements for all spaces served by the system.
The DOAS market was valued at USD 3.7 billion in 2019 and is projected to reach USD 5.4 billion by 2024, at a CAGR of 8.0%. The growth of the DOAS market is driven by government regulations and policies for energy saving to boost demand for DOAS and increasing adoption of DOAS for residential and commercial applications. Growing demand for energy-efficient DOAS for new construction & retrofit is expected to provide huge growth opportunities to players in the DOAS market.
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The market for new construction implementation type is expected to hold the largest share of the DOAS market during the forecast period. Growing construction activities, government regulations for smarter buildings, and financial incentive programs for energy-efficient new construction projects are key factors driving the DOAS market in new constructions. Hence, increasing construction activities of commercial and residential buildings across the world provide opportunities for the DOAS market during the forecast period.
Commercial application is the largest adopter of DOAS. DOAS has major demand in the commercial vertical as it provides a comfortable and healthy indoor environment that has been a difficult task for many commercial buildings where it requires high ventilation rates for various applications, such as hospitals, schools, theaters, retail stores, hotels, restaurants, nursing homes, and office buildings. Hence, the demand for DOAS in commercial buildings is expected to boost the market during the forecast period.
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The DOAS market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is the leading DOAS market for commercial and residential verticals, with major demand driven by countries such as China and India. Increasing construction activities, rising population, and changing climatic conditions are among the major factors attributed to the growth of the market in this region.