Solar Ventilation Market: Introduction
A ventilation system comprises of a fan or ventilator to inhale fresh air from the surroundings and, at the same time, to exhale the hot air to the outside.
Key Drivers of Global Solar Ventilation Market
- Surge in the demand for cost-effective, reliable, and eco-friendly ventilation systems to reduce heat in residential and commercial buildings is likely to drive the global solar ventilation market during the forecast period. Solar ventilator systems utilize solar energy to drive fans and therefor, require no external electric input.
- Recently, renewable energy sources have witnessed significant growth in adoption in residential and commercial establishments, primarily in Europe and North America. Clean forms of energy, such as solar power, are being harnessed for various residential as well as commercial uses. This has significantly fueled the demand for solar ventilation systems, which are typically used to maintain the temperature of rooms in houses and office buildings. Technological advancements in solar panels with respect to design specifications and other developments, such as thin film technology and solar tracking mounts, have taken this technology to the next level, which is anticipated to augment the adoption of solar ventilation systems in the next few years.
- Stringent regulations to reduce carbon emissions along with increase in efforts to reduce dependence on fossil fuel by enhancing the utilization of renewable sources is also expected to propel the global solar ventilation market during the forecast period. Regulators have introduced several directives and regulations to attain renewable targets and thereby, minimize carbon emissions. For instance, policymaker across the European Union have aimed to reduce greenhouse gas emissions by 20% by 2020 from the 1990 levels, enhancing the utilization of clean fuel.
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Residential Type Segment Expected to Hold a Major Share of Global Solar Ventilation Market
- The global solar ventilation market can be segmented based on mounting type, application, and region
- In terms of mounting type, the global solar ventilation market can be divided into roof mount and others. Roof mount is one of the most extensively used solar ventilation systems and it requires low maintenance. Increase in the demand to improve air quality in residential establishments is expected to boost the demand for roof mount solar ventilation systems during the forecast period.
- Based on application, the global solar ventilation market can be divided into residential, commercial, and industrial. Increase in investments in construction of multi- and single-housing units is expected to fuel the residential segment of the global solar ventilation market during the forecast period.
North America Expected to Hold a Major Share of Global Solar Ventilation Market
- In terms of region, the global solar ventilation market can be segregated into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- North America dominated the global solar ventilation market in 2019. This trend is anticipated to continue throughout the forecast period. Growth of the market in North America can be ascribed to technological innovation in the design of ventilation systems. Furthermore, increase in investments in infrastructure development of residential buildings in the region is expected to drive the solar ventilation market in North America during the forecast period.
- The solar ventilation market in Europe is projected to expand at a rapid CAGR during the forecast period. Growth of the market in the region can be attributed to introduction of several regulations to limit carbon emissions across establishments in Europe. Furthermore, rising focus to reduce dependency on imported fossil fuel along with increase in tax on fossil fuel is likely to propel the market in the region during the forecast period.
- The solar ventilation market in Asia Pacific is likely to expand at a moderate pace during the forecast period, due to increase in the demand for cost-effective ventilation systems in the region. Furthermore, improvement in the standards of living, strong economic growth, and rapid urbanization, primarily in developing nations such as India, are expected to drive the market in Asia Pacific during the forecast period.
- The solar ventilation market in Latin America and Middle East & Africa is expected to expand at a sluggish pace during the forecast period, due to high untapped potential for solar energy in these regions
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Key Players Operating in Global Solar Ventilation Market
Leading companies operating in the global solar ventilation market are:
- Solana Tec
- Solatube International Inc.
- Solar Royal LLC
- Titus HVAC
- Vents (Blauberg Group)
- Air Vent, Inc.
- Broan, Inc.
- Active Ventilation Products, Inc.
- Ventamatic, Ltd.
- Attic Breeze LLC
Global Solar Ventilation Market: Research Scope
Global Solar Ventilation Market, by Mounting Type
- Roof Mount
Global Solar Ventilation Market, by Application
Global Solar Ventilation Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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