The global ventilation equipment market is expected to surpass US$ 26 Bn by 2022, with sales increasing at a CAGR of 7% during the forecast period (2022-2032). The overall ventilation equipment market is projected to reach US$ 43 Bn 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.
Which are the Prominent Factors Bolstering Ventilation Equipment Market Demand?
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.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
What are the Challenges Suppressing the Ventilation Equipment Market Growth?
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.
What will Drive the Ventilation Market in Asia Pacific?
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.
Find your sweet spots for generating winning opportunities in this market.
Will North America Emerge as a Lucrative Market for Ventilation Equipment Market?
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.
Market Competition
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
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
Scope Of Report
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
Key Segments Profiled in the Ventilation Equipment Industry Survey
Product Type:
Axial Fans
Centrifugal Fans
Cross Flow Fans
Domestic Exhaust Fans
Power Roof Fans
Range Hoods
Others
Application:
Residential
Non-Residential
Region:
North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East & Africa
Frequently Asked Questions
What is the projected value of the ventilation equipment market?
FMI projects the global ventilation equipment market to reach US$ 43 Bn by 2032.
Which region holds dominance in the ventilation equipment market?
North America is expected to dominate the ventilation equipment market, accounting for lion’s share during the forecast period.
Who are the leading players in the ventilation equipment market?
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.
