Thermo ventilator is a piece of electric equipment preferably used in multipurpose ventilation systems. A thermo ventilation system adjusts the ventilation requirement automatically, as per the user's preference. It combines the function of air circulation and automatic ventilation. Thermo ventilators provide automatic ventilation and adequate air circulation by checking the carbon dioxide level inside premises. Conference rooms, shopping malls, residential lobbies, offices, educational institutes, hotels, and restaurants are mostly preferring thermo ventilators for ventilation and air circulation.
The global market for thermo ventilators is primarily driven by automatic adjustable features of the equipment for energy efficiency and increasing usage of these ventilators in commercial and industrial sectors. Additionally, growing market of thermo ventilators in the residential sector due to boosting the consumer preference for energy-efficient houses. This is expected to contribute significantly during the forecast period. Increasing investments in infrastructure development and commercial construction activities led by growth of the service sector in developing countries are anticipated to drive the thermo ventilators market during the forecast period. However, a thermo ventilator is a heavy equipment and the upfront cost of thermo ventilators is high. This can create a barrier for the global thermo ventilators market.
The global thermo ventilators market can be segmented in terms of product, end-user, distribution channel, and region. Based on product, the thermo ventilators market can be categorized into ceiling-mounted thermo ventilators, wall-mounted thermo ventilators, and window-mounted thermo ventilators. The window-mounted thermo ventilators segment holds a major market share and it is expected to continue its dominance during the forecast period also. Cost-effectiveness of window-mounted thermo ventilators is the key reason behind dominance of the segment.
In term of end-user, the thermo ventilators market can be categorized into commercial and residential. The commercial segment includes restaurants, hotels, entertainment malls, corporate offices, and others. Growth of the service sector in developing economies is anticipated to boost the demand for thermo ventilators in the commercial segment in the next few years.
Based on distribution channel, the thermo ventilators market can be bifurcated into online and offline. The offline segment accounted for a dominant share of the market and expected to retain in coming years. On the other hand, the online segment is expected to expand at a rapid pace during the forecast period, as vendors can tap a large number of customers through the online channel.
In terms of region, the global thermo ventilators market can be classified into North America (the U.S., Canada, and Rest of North America), Asia Pacific (India, China, Japan, and Rest of Asia Pacific), Europe (the U.K., France, Germany, and Rest of Europe), Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa), and South America (Brazil and Rest of South America). North America and Europe account for a major share of the global market, due to high demand for thermo ventilators from commercial and residential sectors in these regions. These regions are expected to account for a major market share during the forecast period also. The market in Asia Pacific is expected to register the maximum growth rate during the forecast period, due to the growing service sector in certain developing countries such as India and China. The market in Middle East & Africa and South America is anticipated to expand at a considerable rate during the forecast period.
The global thermo ventilators market is highly competitive. Several international as well as domestic players operate in the market. Key market players are Panasonic Corporation, Lennox International Inc., Whirlpool Corporation, Honeywell International Inc. Mitsubishi Electric Corporation, Aereco, Swegon Group AB, Siemens, Vaisala, and Sauter Controls GmbH. Players are focused on product innovations and launch of new products to sustain their share in the global market.
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