The global ventilation equipment market is expected to surpass US$ 26 Billion by 2022, with sales increasing at a CAGR of 7% during the forecast period (2022 to 2032). The overall ventilation equipment market is projected to reach US$ 43 Billion by the end of 2032.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | US$ 24 Billion |
| Expected Market Value (2022) | US$ 26 Billion |
| Anticipated Forecast Value (2032) | US$ 43 Billion |
| Projected Growth Rate (2022 to 2032) | 7% CAGR |
Ventilation equipment are used to improve the indoor air quality (IAQ) by controlling the indoor thermal settings with the changing climatic conditions. Advancements in technology are improving the development for programmable controls, heat ventilators, and air filters for efficient operations.
Besides this, rising concern regarding air quality such as low IAQ is projected to have a huge impact on the health, cognitive skills, and productivity. Such conditions are likely to increase the demand for ventilation equipment, especially across residential sector.
Additionally, surging demand for reducing household chemicals, bacteria, and moisture will increase the adoption of ventilation systems in the residential sector. Introduction of advanced ventilation equipment for improving outdoor air quality and reducing the ventilation energy cost is projected to increase the establishment of new manufacturing facilities across North America and Asia Pacific.
Consequently, growing trend of green buildings and stringent government regulations regarding carbon emission and maintenance of air quality in the commercial and residential sector is estimated to boost the market in the coming years.
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Growing popularity of decentralized ventilation system to reduce the number of ducts and interconnections in multi-family residential projects or office buildings will result in an upsurge in the sales of ventilation equipment systems.
Subsequently, increasing demand for lowering space condition requirements to avoid air leakage will create new growth avenues for the manufacturers operating in the market. Also, growing prevalence of asthma, chronic obstructive pulmonary disorders (COPD), and respiratory disorders due to rising pollution levels is anticipated to boost market growth.
Apart from this, implementation of stringent regulations for safety and health of the industrial workforce will further drive the ventilation equipment market expansion.
High cost of maintenance for the air conditioning and ventilation activities are the major factor impeding the sales in the ventilation equipment market. Also, dwindling number of skilled professionals in the manufacturing and maintenance of ventilation equipment is another factor hampering the growth.
Additionally, governments across various countries including Germany, China, India, and others are heavily investing in the maintaining and installing the ventilation systems to mitigate pandemic situations.
Principal Consultant
With improved standard of living in emerging countries such as China, India, Malaysia, and Thailand, the ventilation equipment market in Asia-Pacific is expected to grow at a robust pace during the forecast period.
Additionally, rapid modernization and increase in residential and commercial construction projects in the region will create lucrative opportunities for market players, opines FMI.
According to the International Finance Corporation, the investments of US$ 3.4 billion in FQ-2018 and US$ 1.4 billion from other investors is projected to help East Asia and Pacific expand in terms of finances. On the back of such developments, the integration of ventilation equipment is expected to grow in the residential and commercial sector in the coming years.
As per FMI, North America is expected to hold a lion’s share in the market. Demand in the market is projected to increase owing to improved standard of living and growing demand for air quality systems across U.S. and Canada.
Besides this, harsh climatic conditions including hurricanes, hailstorms, and heavy snowfall in the region is likely to increase the sales of ventilation equipment in North America. Subsequently, growing demand for cooling systems to lower the generation of seasonal heat wave is estimated to increase the application of ventilation equipment in the coming years.
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Leading manufacturers operating in the global ventilation equipment market include Centrotec Sustainable AG, Greenheck Fan Corp., CaptiveAire Systems Inc., Twin City Fan Companies Ltd., Munters AB, Nortek Incorporated, Fläkt Woods Group, and Soler & Palau Group among others
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product Type, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Centrotec Sustainable AG; Greenheck Fan Corp.; CaptiveAire Systems Inc.; Twin City Fan Companies Ltd.; Munters AB; Nortek Incorporated; Fläkt Woods Group; Soler & Palau Group; Zibo Lihua Ventilation Equipment Co. Ltd.; Stamm International Corporation; VES Andover Ltd.; Air System Components Inc. |
| Customization | Available Upon Request |
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FMI projects the global ventilation equipment market to reach US$ 43 Bn by 2032.
North America is expected to dominate the ventilation equipment market, accounting for lion’s share during the forecast period.
Centrotec Sustainable AG, Greenheck Fan Corp., CaptiveAire Systems Inc, Twin City Fan Companies Ltd., Munters AB, Nortek Incorporated, Fläkt Woods Group and Soler & Palau Group are some of the prominent ventilation equipment manufacturers.
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Ventilation Equipment Market
