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Ventilation Fan Market

Ventilation Fan Market

Ventilation Fan Market By Product Type (Axial, Centrifugal), By Raw Material (Metal, Plastica), By Deployment (Wall-mounted, Ceiling-mounted), By Application (Industrial, Commercial, Residential), By Region - Global Market Insights 2019 to 2029

Ventilation Fan Market
FACT4498MR
  • Mar-2022
  • List of Tables : 94
  • List of Figures : 212
  • 170 Pages
  • Consumer Goods

Focus on Air Quality Control Solutions Drive Worldwide Demand for Ventilation Fans Systems

The worldwide ventilation fans market is projected to grow at a healthy CAGR of approximately 7% over the forecast period (2019-2029). The growth of the industry can be largely attributed to increasing applications of such devices in the household sector coupled with the rising awareness among consumers about the benefits of ventilation fan utility.

Further, the trend of smaller apartment sizes, in major urban areas of the world in a bid to bolster affordability in real estate is a key contributor to the demand for ventilator fans.

Such changes in the housing sector, will drive demand from the new generation of millennial buyers, to enable better air circulation levels in residences. The increase in concentrated levels of indoor pollution and the resultant decline in air quality are also expected to contribute to market growth.

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Demand for Ventilation Fans to Soar, as Ailments Owing to Poor Air Quality Increase

Around the world, researchers have proven that unhealthy air quality can result in a range of health problems including pneumonia, lung cancer, ischemic heart disease, and chronic obstructive pulmonary disease, among others.

Ventilation fan market opportunity assessment by application

The usage of ventilation fans cuts down the issues relevant to such ailments, through measures such as superior air quality, and control on temperature, which results in healthier indoor environments by cutting moisture and odor levels from the vicinity, even preventing buildup of contaminants, which is expected to boost product demand not only in residential applications, but also in industrial and commercial settings as well. Based on application, residential ventilation fans are projected to grow 2X during the forecast period while industrial fans continue to capture a significant market share

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North America Dominates Demand, While Asian Countries Show Prolific Growth

Some of the key players in the global ventilation fans market include names such as Crompton, Nortek Inc., Fuji Electric, Panasonic Corp., Havells India Ltd., and Mitsubishi electronics ltd., among others. Most large scale organizations in the industry are pushing to increase the levels of investments research and development activities, in a bid to bring improvements in new product offerings.

Some key innovations in the field to be widely implemented in the near future include the capabilities to remove air from closed spaces, ease of cleaning, energy efficiency, customization to meet room designs, and noise reduction.

Ventilation fan market competition analysis

Further, North America has come out as the biggest market for ventilation fans, accounting for nearly 30% of the overall revenue. This growth can be attributed to a higher focus on energy efficiency, comfort, and quality, to meet the new standards of homes, which will aid growth in the years ahead.

On the other hand, countries in East Asia and South Asia & Oceania are expected to cumulatively account for a higher rate of growth and a major market share of nearly 37%. This data can be primarily attributed to extensive manufacturing activities taking place in countries such as South Korea, China, Japan, India, and Indonesia, owing to easier access to adequate human labor, relaxed norms, and minimized costs of production.

Industrial application will remain the primary end use sector accounting for more than 45% of the market share, with most products in heavy duty configurations, to meet the needs of defumigation of contaminated air, driven by air safety government policies and regulations, relevant to employee health.

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Global Ventilation fan Market: In-Depth Assessment on Key Segments

The global ventilation fan market is segmented on the basis of product type, raw material, deployment, application and region.

  • By Product Type :

    • Axial
    • Centrifugal
  • By Raw Material :

    • Metal
    • Plastica
  • By Deployment :

    • Wall-mounted
    • Ceiling-mounted
  • By Application :

    • Industrial
    • Commercial
    • Residential
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

This taxonomy and the detailed toc prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.

- FAQs -

The worldwide ventilation fans market is projected to grow at a healthy CAGR of approximately 7 % over the forecast period (2012-2029).
Some of the key players in the global ventilation fans market include names such as Crompton, Nortek Inc., Fuji Electric, Panasonic Corp., Havells India Ltd., and Mitsubishi electronics ltd., among others.

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