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Increased Construction of Residential and Commercial Spaces Fuels Demand for Ventilation Fans, Observes TMR

Posted on Dec 02, 2015

The long-term partnerships between manufacturers and distributors of ventilation fans is the defining characteristic of the competitive landscape of the global ventilation fans market, finds Transparency Market Research (TMR) in a new study. Only a few players, namely, Delta Ventilation Ltd., Panasonic Corp., Nortek Inc., and Airmaster Fan Co. have been able to firmly establish themselves in this highly fragmented market as of 2015. 

The presence of a large pool of regional players has intensified the competition in this market. Leading participants are increasingly focusing on strengthening their presence through mergers and acquisitions while small-scale manufacturers of ventilation fans are improving their product portfolios in order to gain a strong foothold.

Going forward, manufacturers will need to focus on geographical expansion by developing their distribution channels. Product innovation will also help these players in gaining a competitive edge, TMR expects.

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Infrastructural Developments Boost Demand for Ventilation Fans

The increased construction of residential and commercial spaces, thanks to the growing population as well as rapid urbanization across the world, has boosted the demand for ventilation fans remarkably, states an analyst at TMR.

The economic rise of BRICS nations and the commencement of major infrastructural development projects in the Middle East and North American countries have propelled the construction industry in these regions. Recently, economies such as the UAE, Saudi Arabia, and Qatar have undertaken huge commercial as well as residential construction projects. With the rising construction of commercial structures such as offices and hotels, the demand for ventilation fans is increasing significantly in these regions.

Apart from this, in the coming years, major sports events are scheduled to take place in Brazil (Olympic 2016), Russia (FIFA World Cup 2018), and Qatar (FIFA World Cup 2022). As such large-scale events entail first-rate infrastructure and other auxiliary amenities, these fans are likely to witness substantial demand in the next few years.

Overall, the opportunity in ventilation fans looks bright for the coming years; however, the high initial purchasing and installation cost of these fans may limit their application to some extent in the near future.

Demand for Ventilation Fans to Show Upward Graph in Asia Pacific

As per TMR’s estimates, the global opportunity in ventilation fans is likely to register a healthy CAGR of 4.90% during the period from 2015 to 2023 and increase from US$1.6 bn in 2015 to US$2.4 bn by the end of the forecast period. Asia Pacific emerged as the prime consumer of these fans in 2015, accounting for a share 43.4%. By 2023, the region is projected to retain its leadership with a rise of 0.1% in its total share.

Currently, ventilation fans find widespread application in the residential sector. The commercial sector, however, is projected to generate more revenue than the former over the forecast period. Axial ventilation fans are the most demanded products in this market. Their wide-ranging application in automobiles, computer cooling, and wind tunnels and as cooling fans, ceiling fans, and ventilation exhaust fans is boosting their demand significantly.

The study presented here is based on a report by Transparency Market Research (TMR) titled Ventilation Fans Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023.”

Key Takeaways

  • Ventilation fan manufacturers will need to focus on geographical expansion by developing their distribution channels
  • Imminent sports events are boosting infrastructural development in BRICS nations, stimulating demand for ventilation fans
  • Opportunity in global ventilation fans market is likely to be worth US$2.4 bn by 2023

The global ventilation fans market is segmented as follows:

By Type

  • Centrifugal Fans
  • Axial Fans
  • Cross Flow Fans
  • Domestic Exhaust Fans
  • Power Roof Fans
  • Range Hood Fans

By End-users

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

By Region

  • North America
    • The U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • South Asia
    • Australasia
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • GCC Countries
    • North Africa
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of Latin America

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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