During the forecast period, the global duct fans market is expected to grow at a CAGR of 5.3%, with revenue valued at US$ 4,585.4 Million in 2022, rising to US$ 7,683.3 Million by 2032.
Because of growing concerns about air quality, such as poor indoor air quality, an increasing number of industrial buildings require the use of duty fans. The price of oil, on the other hand, is expected to slow the growth of the duct fan market. On the other hand, continuous technological innovation that improves the systems of these duct fans is likely to create opportunities for the duct fans market share to grow.
The BRICS economies’ construction and building industries have expanded significantly, increasing demand for duct fans. Furthermore, the increasing number of smart home projects is a major driver of the duct fans market trends.
Request Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-6320
Construction sectors in developed regions are improving and renovating, necessitating the expulsion of harmful gases, bad odours, and other impurities. For example, around 5000 construction projects worth around US$ 800 billion are currently underway in Saudi Arabia, which is expected to increase demand for these fans.
Key Aspects making U.S. & Germany Dominating Markets for Duct Fans Market Players:
North America holds the largest share of the duct fans market with revenue of 22%. This is attributed to the higher industrial growth rate in this region, especially in the U.S.
To capture the lucrative U.S. market, manufacturers of industrial ventilation are channelizing their resources and export volumes. In addition, government policies and regulations, and developed production facilities are enabling an accelerated growth of the duct fans market share.
Due to rapid adoption and expanding infrastructure, Europe holds the second largest share of the duct fans market with revenue of 19%. Germany is likely to dominate the demand for duct fans in the European region.
The increase in industrial spending is estimated to increase the deployment of duct fans. Moreover, to cater to customized demand, Germany has increased its domestic capacity.
Customization Before Buying, Visit: https://www.futuremarketinsights.com/customization-available/rep-gb-6320
KEY MARKET PLAYERS OF THE DUCT FANS MARKET:
Systemair AB, Acme Engineering & Manufacturing Corp., Air System Components Inc., Airmaster Fan Company Inc., Continental Blower LLC, CECO Environmental, Crompton Greaves Limited, DongKun Industrial Co. Ltd., Flakt Woods Group SA, Robinson Fans, Twin City Fan Companies, Greenheck Fan Corporation, Nortek Air Solutions, Johnson Controls, Loren Cook, FläktGroup, Soler & Palau, Polypipe Ventilation, Nanfang Ventilator, Continental Fan Manufacturing Inc., Ebara Corporation, Elta Fans, Ferrari Ventilatori Industriali S.p.A, Formula Air, etc.
Key Segments Profiled in the Duct Fans Market Survey
By Product Type:
- Centrifugal Fans
- Axial Fans
- Cross-Flow Fans
By Shape:
- Circular
- Rectangular
- Square
By End User:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
About Us:
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.
Contact:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Latest Report: https://www.futuremarketinsights.com/reports/
LinkedIn| Twitter| Blogs