Thanks to the rapid urbanization, a steady surge in the demand for ventilation fans can be observed across the world. Analysts expect this trend to continue over the forthcoming years on account of the increasing construction of commercial, residential, as well as industrial spaces.
The global opportunity for ventilation fans is expected to progress from a value of US$1.6 bn in 2015 to a possible worth of US$2.4 bn by the end of 2023, rising at a CAGR of 4.90% between 2015 and 2023.
The commencement of high-value infrastructure development projects in the Middle East and North America, the improving construction industry in developed nations, and encouraging initiatives by various governments, worldwide, on aeration and ventilation are projected to boost the demand for ventilation fans in the years to come.
The rising awareness among people regarding indoor air quality (IAQ) and the technical advancement in ventilation fans are also predicted to add significantly to their popularity. Product innovations will shape the future of the global ventilation fans market, states Transparency Market Research.
Opportunity in Axial Fans to be Worth US$735.9 mn by 2023
Axial fans, centrifugal fans, range hood fans, domestic exhaust fans, and power roof fans are the key ventilation fans available across the world. Among these, axial fans report the most prominent demand. In 2015, the opportunity in axial fans was worth US$500.3 mn. Expanding at a CAGR of 4.90% during the period from 2015 to 2023, it is estimated to increase to US$735.9 mn by the end of 2023.
The widespread application of axial fans as cooling fans, ceiling fans, and ventilation exhaust fans is expected to add to their demand significantly over the next few years. Power roof fans are also projected to attract a considerable demand in the near future.
Asia Pacific to Remain Leading Consumer of Ventilation Fans
By geography, the global market for ventilation fans is segmented into Europe, Asia Pacific, North America, South America, and the Middle East and Africa. Asia Pacific has emerged as the key contributor in the demand for these fans in the recent times. In 2015, it held a share of 43.4% in the overall demand for ventilation fans. Over the coming years, the region is expected to retain its leadership with a slight increase in its market share. North America, however, is anticipated to register the fastest surge in the demand for ventilation fans in the coming years on account of the adoption of novel technologies in these fans.
In Asia Pacific, the opportunity in ventilation fans is projected to rise from US$707 mn to US$1,040 mn by 2023, expanding at a CAGR of 5.0% during the period from 2015 to 2023, whereas, North America is likely to report an opportunity of US$541.6 mn in these fans by 2023.
Delta Ventilation Ltd., Nortek Inc., Airmaster Fan Co., and Panasonic Corp. are some of the leading players in the global market for ventilation fans. Some of the other prominent participants are Titon Plc, Airflow Developments Ltd., Vent-Axia, Polypipe Ventilation, Greenwood Airvac, and Systemair AB.
Ventilation is defined as the procedure that replaces or changes air in a space to control temperature or remove smoke, carbon dioxide, moisture, heat, odors, airborne bacteria, dust, and replenish oxygen. Ventilation comprises exchange of air to the outside and air circulation within the premises. Proper installation and operation of ventilation fans provide a path for contaminated air or water vapor to exit a house. Significant growth in construction industry in BRICS economies, major infrastructure development projects in MENA, the recovering construction sector in developed regions, rising awareness of the importance of indoor air quality (IAQ), and government regulations on the ventilation prove to be the key driving factors for the growth of the ventilation fans market.
This research study, entitled “Ventilation Fans Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015–2023,” provides strategic analysis of the global ventilation fans market, along with the market growth (size in US$ Mn*) forecast for the period from 2015 to 2023. The report includes an in-depth analysis of the market drivers, restraints, and industry trends. It also highlights the significant growth opportunities for ventilation fans in the next few years.
The research report provides a comprehensive assessment of stakeholder strategies, and the imperatives for succeeding in the ventilation fans market. The report includes competitive analysis of various market segments based on types of ventilation fans, end-user industries, and in-depth cross-sectional scrutiny across different geography segments of the ventilation fans market. In order to aid in strategic decision-making, the report also includes the winning strategies adopted by key players operating in the ventilation fans market.
The report segregates the ventilation fans market based on different geographies into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South America. On the basis of type, the global ventilation fans market is segmented into centrifugal fans, axial fans, cross-flow fans, domestic exhaust fans, power roof fans, and range hood fans. Moreover, in terms of end-use adoption the market for ventilation fans is segmented into residential, commercial, and industrial end-user segments. For detailed understanding of the ventilation fans market, all these segments have also been estimated in terms of revenue (US$ Mn) for the geographies mentioned above.
The market research study analyzes the ventilation fans market worldwide, and provides revenue estimates in terms of US$ Mn for the years 2013 and 2014, along with the market forecast for the period from 2015 to 2023. Market forecasts have been analyzed considering the impact of various economic, political, social, legal, and technological factors influencing market growth.
The report includes overview of the market strategies, annual revenues, and the recent developments of the key players operating in the market. The key market participants profiled in the study include Panasonic Corporation, Nortek Inc., Systemair AB, Greenwood Airvac, Polypipe Ventilation, Vent-Axia, Airflow Developments Ltd., and Titon plc.
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
In addition, the report provides cross sectional analysis of the ventilation fans market with respect to following geographical segments:
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- South Asia
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
- South America
- Rest of Latin America