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.
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.
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.
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.
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.
Global Ventilation fan Market – Scope Of The Report
The following report provides forecast and analysis of the global ventilation fan market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of revenue (US$ Mn) and Volume (Units), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global ventilation fan market along with several macro-economic indicators. This newly published and insightful report on ventilation fan sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global ventilation fan market.
The report also comprises the study of current issues with end users and opportunities for Ventilation fan. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of ventilation fan manufacturers on parameters such as total revenue, product offerings, and key strategies.
A list of key companies operating in the Ventilation fan market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for ventilation fan has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous ventilation fan manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.
The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major competitors operating in the Ventilation fan market are Panasonic Corporation, Mitsubishi Electric Corporation, Fuji Electric, Systemair AB, Delta Electronics, Havells India Ltd. and others.
Global Ventilation fan Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the Ventilation fan market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the ventilation fan market, which includes global GDP growth rate, various industries growth rate, such as building & construction, HVAC and others.
This report serves as an authentic resource of intelligence on the ventilation fan market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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