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Global Ventilation Fans Market to Reach US$2.4 bn by 2023 due to Growing Awareness about the Importance of Indoor Air Quality

Posted on Mar 10, 2016

The global ventilation fans market has been capitalizing on the rapid growth of the construction industry in BRIC nations and the expansion of infrastructural development projects in MENA. The market at present is witnessing lucrative prospects in Asia Pacific due to the increasing investment in the development of residential, commercial, and industrial infrastructure in the region.In its latest report, titled “Ventilation Fans Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023,” Transparency Market Research (TMR) provides a comprehensive overview of the market, covering the market’s definition, classification, and factors that are impacting its growth trajectory between 2015 and 2023.

Browse the full Ventilation Fans Market (Type  - Centrifugal Fans, Axial Fans, Cross Flow Fans, Domestic Exhaust Fans, Power Roof Fans, and Range Hood Fans; End-users -Residential, Commercial and Industrial End-users) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023 report at http://www.transparencymarketresearch.com/ventilation-fans-market.html

Ventilation refers to the procedure of replacing or changing air in an enclosed space to replenish oxygen, control temperature, and remove carbon dioxide, heat, smoke, moisture, odors, durst, and airborne bacteria. Ventilation also establishes air circulation within and without a premise. Properly installing a ventilation fan makes way for contaminated air to exit a premise. The growing awareness about the importance of indoor air quality (IAQ) and stringent government regulations mandating the installation of proper ventilation systems within a premise are the key factors fuelling the demand from the global ventilation fans market.

According to the report, the global market for ventilation fans, which stood at US$1.6 bn in 2015, is expected to reach US$2.4 bn by the end of 2023. If the figures hold true, the global ventilation fans market will exhibit a positive CAGR of 4.9% between 2015 and 2023. Asia Pacific emerged as the largest regional market for ventilation fans in 2014. The demand for ventilation fans in the region is mainly fuelled by the rapid infrastructural development witnessed in the region.

The market primarily has been capitalizing on the rising trend in industries to replace their traditional ventilation systems with newly developed and more advanced ventilation systems, such as brushless DC motors, which offer high energy efficiency and lower noise. Furthermore, the growing awareness about indoor air quality (IAQ) creates lucrative prospects for ventilation fan manufacturers.

Based on ventilation type, the global market for ventilation fans has been segmented into cross-flow fans, axial fans, centrifugal fans, domestic fans, range hood fans, and power roof fans. Of these, the axial fans segment dominated the market in 2014, accounting for a share of 31% in the global ventilation fans market. By end use, the market is classified into industrial, commercial, and residential. Of these, the residential end-use segment held the largest share in the market, accounting for 45% in 2014.

Regionally, Asia Pacific held around 44% of the global ventilation fans market in 2014. However, over the report’s forecast period, North America is anticipated to exhibit the fastest growth. The report provides a holistic overview of the factors impacting the market’s growth trajectory across its key regional segments.

The report also profiles companies such as Panasonic Corporation, Greenwood Airvac, Nortek Inc., Vent-Axia, Systemair AB, Airflow Developments Ltd., Polypipe Ventilation, and Titon plc. to study the prevailing competitive landscape in the market.

Market Segmentation:

Ventilations Market Analysis, by type

  • Centrifugal Fans
  • Axial Fans
  • Cross-flow Fans
  • Domestic Exhaust Fans
  • Power Roof Fans
  • Range Hood Fans

Ventilation Fans Market Analysis, by End-users

  • Residential End-users
  • Commercial End-users
  • Industrial End-users

Ventilation Fans Market Analysis, by Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)
  • South America

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TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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