The global ventilation equipment market is expected to surpass US$ 26 Bn by 2022, with sales increasing at a CAGR of 7% during the forecast period (2022-2032). The overall ventilation equipment market is projected to reach US$ 43 Bn by the end of 2032.
Ventilation equipment are used to improve the indoor air quality (IAQ) by controlling the indoor thermal settings with the changing climatic conditions. Advancements in technology are improving the development for programmable controls, heat ventilators, and air filters for efficient operations.
Besides this, rising concern regarding air quality such as low IAQ is projected to have a huge impact on the health, cognitive skills, and productivity. Such conditions are likely to increase the demand for ventilation equipment, especially across residential sector.
Additionally, surging demand for reducing household chemicals, bacteria, and moisture will increase the adoption of ventilation systems in the residential sector. Introduction of advanced ventilation equipment for improving outdoor air quality and reducing the ventilation energy cost is projected to increase the establishment of new manufacturing facilities across North America and Asia Pacific.
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Consequently, growing trend of green buildings and stringent government regulations regarding carbon emission and maintenance of air quality in the commercial and residential sector is estimated to boost the market in the coming years.
Which are the Prominent Factors Bolstering Ventilation Equipment Market Demand?
Growing popularity of decentralized ventilation system to reduce the number of ducts and interconnections in multi-family residential projects or office buildings will result in an upsurge in the sales of ventilation equipment systems.
Subsequently, increasing demand for lowering space condition requirements to avoid air leakage will create new growth avenues for the manufacturers operating in the market. Also, growing prevalence of asthma, chronic obstructive pulmonary disorders (COPD), and respiratory disorders due to rising pollution levels is anticipated to boost market growth.
Apart from this, implementation of stringent regulations for safety and health of the industrial workforce will further drive the ventilation equipment market expansion.
Will North America Emerge as a Lucrative Market for Ventilation Equipment Market?
As per FMI, North America is expected to hold a lion’s share in the market. Demand in the market is projected to increase owing to improved standard of living and growing demand for air quality systems across U.S. and Canada.
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Besides this, harsh climatic conditions including hurricanes, hailstorms, and heavy snowfall in the region is likely to increase the sales of ventilation equipment in North America. Subsequently, growing demand for cooling systems to lower the generation of seasonal heat wave is estimated to increase the application of ventilation equipment in the coming years.
Market Competition
Leading manufacturers operating in the global ventilation equipment market include Centrotec Sustainable AG, Greenheck Fan Corp., CaptiveAire Systems Inc., Twin City Fan Companies Ltd., Munters AB, Nortek Incorporated, Fläkt Woods Group, and Soler & Palau Group among others
Will North America Emerge as a Lucrative Market for Ventilation Equipment Market?
As per FMI, North America is expected to hold a lion’s share in the market. Demand in the market is projected to increase owing to improved standard of living and growing demand for air quality systems across U.S. and Canada.
Besides this, harsh climatic conditions including hurricanes, hailstorms, and heavy snowfall in the region is likely to increase the sales of ventilation equipment in North America. Subsequently, growing demand for cooling systems to lower the generation of seasonal heat wave is estimated to increase the application of ventilation equipment in the coming years.
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Market Competition
Leading manufacturers operating in the global ventilation equipment market include Centrotec Sustainable AG, Greenheck Fan Corp., CaptiveAire Systems Inc., Twin City Fan Companies Ltd., Munters AB, Nortek Incorporated, Fläkt Woods Group, and Soler & Palau Group among others
Key Segments Profiled in the Ventilation Equipment Industry Survey
Product Type:
- Axial Fans
- Centrifugal Fans
- Cross Flow Fans
- Domestic Exhaust Fans
- Power Roof Fans
- Range Hoods
- Others
Application:
- Residential
- Non-Residential
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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