Global Ventilation System Market Size study & Forecast, by Product (Data Center Cooling, Centralized Ventilation, Decentralized Ventilation, Range Hood) by Application (Commercial, Residential, Industrial) and Regional Analysis, 2022-2029
Global Ventilation System Market is valued at approximately USD 25.61 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.8% over the forecast period 2022-2029. Ventilation systems enhance indoor air quality (IAQ) by exchanging outdoor and interior air, which contributes to improving the indoor environment. Ventilation for interior air quality is beneficial in order to maintain thermal comfort as the weather changes. The market growth is driven by prominent factors including rising demand for the decentralized ventilation system, increasing temperatures globally, and changeable climatic conditions, coupled with the rising inclination toward green buildings.
In addition, the increasing technological developments streamlined with ventilators are enhancing the efficiency, usability, and competence of the overall system, which is exhibiting a positive influence on the market growth. For instance, in August 2022: Carrier started offering the Abound Healthy Air Starter Package in the aim to enhance indoor air quality by using a fast, easy, and affordable method to identify and respond to the camouflage elements. Likewise, in October 2020, Komfovent updated its ""Domekt R 450 V"" , a second-generation ventilation device with an emphasis on rotor speed control, aerodynamic shape sensors, energy class, controller, and other aspects. Hence, the global market expansion is being stipulated by technological developments in ventilation units. Moreover, growing investment in the research and development activities by the key market players, as well as the increasing government policies are presenting various lucrative opportunities over the forecasting years. However, the dearth of skilled technicians along with high operating and maintenance costs of ventilation systems are hampering the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Ventilation System Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the increasing adoption of air handling units and tunnel fresh air ventilation, along with the rising urbanization and increasing disposable income of end-users. Whereas, North America is expected to grow with the considerable growth rate CAGR during the forecast period, owing to factors such as the surge in demand for residential indoor air quality systems and growth in new housing construction in the market space.
Major market players included in this report are:
Midea Group Co., Ltd. (China)
CaptiveAire Systems (U.S.)
Greenheck Fan Corporation (Japan)
S&P UK Ventilation Systems Ltd. (U.K.)
Twin City Fan & Blower (U.S.)
Honeywell International Inc. (U.S.)
CENTROTEC SE (Germany)
Johnson Controls (Ireland)
Mitsubishi Electric Corporation (Japan)
Nortek Air Solutions, LLC (U.S.)
Recent Developments in the Market:
In April 2021, Midea Group displayed a line of various high-efficiency precision cabinet-type industrial fan coil units . The show debuted at CRH-2021. (China Refrigeration and Heating 21).
Global Ventilation System Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Data Center Cooling
Centralized Ventilation
Decentralized Ventilation
Range Hood
By Application:
Commercial
Residential
Industrial
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Companies MentionedMidea Group Co., Ltd. (China)
CaptiveAire Systems (U.S.)
Greenheck Fan Corporation (Japan)
S&P UK Ventilation Systems Ltd. (U.K.)
Twin City Fan & Blower (U.S.)
Honeywell International Inc. (U.S.)
CENTROTEC SE (Germany)
Johnson Controls (Ireland)
Mitsubishi Electric Corporation (Japan)
Nortek Air Solutions, LLC (U.S.)
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.
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