Household Ventilation Electrical Appliance Market Forecasts to 2030 – Global Analysis By Product (Air Conditioner & Heater, Entertainment & Information Appliances, and Other Products), Installation (Exhaust Ventilation System, Supply Ventilation System, S

Household Ventilation Electrical Appliance Market Forecasts to 2030 – Global Analysis By Product (Air Conditioner & Heater, Entertainment & Information Appliances, and Other Products), Installation (Exhaust Ventilation System, Supply Ventilation System, Spot Ventilation and Other Installations), and By Geography

According to Stratistics MRC, the Global Household Ventilation Electrical Appliance Market is accounted for $1.61 billion in 2023 and is expected to reach $2.35 billion by 2030 growing at a CAGR of 5.4% during the forecast period. Ventilation systems in homes give people a secure and pleasant living space. To stop the build-up of pollutants including smoke, carbon dioxide, and volatile organic compounds, these systems control the airflow in the home. Homes should have several ventilation fans placed throughout the interior to evacuate harmful gases from within when external pollution levels are high or indoor temperatures rise in the summer.

According to statistics provided by the China Household Electrical Appliances Association, online retail sales of washers and dryers in China reached USD 1,645.85 million in 2020, up 5.6% from the previous year.

Market Dynamics

Driver

Consumer spending power and available income are growing

An electric device known as a home appliance is used to help with household chores including cooking, washing, and cleaning. The increasing levels of disposable incomes, expanding worldwide population, and raising living standards of the populace are all factors that contribute to the purchase of white goods including refrigerators, cooking, and washing machines, as well as heating and cooling appliances. A significant demand for these products resulted from customers' increasing purchasing power. A population with high disposable income may purchase brand-new white goods like refrigerators, washing machines, air conditioners (AC), and kitchen equipment despite their high cost.

Restraint

High installation cost

Smart appliances are more expensive than standard appliances. Depending on the number of appliances and technologies utilised, installation prices may differ significantly and become unaffordable for a consumer. The initial high installation cost may be one of the main obstacles to the expansion of this business. However, the installation of electric ventilation systems may preserve not only the health of individuals but also other home goods and building structures.

Opportunity

Cost-effective energy recovery ventilation innovations

The technical advancement of the HVAC business is concentrated on endeavours to reduce costs and enhance current technologies. More people are using latent heat storage since it has a higher storage density and less rapid temperature swings. One of the factors influencing market growth is the potential application of Phase Change Material (PCM) in HVAC systems for thermal storage and temperature maintenance applications. Furthermore, major advancements and improvements in mechanical ventilation systems are anticipated to equal present pricing levels, drastically cut operating costs, and provide energy consumption and carbon footprint reductions of between 50 and 90 percent.

Threat

Increasing demand for online on-demand services

In the foreseeable term, rising demand for online, on-demand services such as laundry services is anticipated to constrain the market for home washing machines. A solid economic development outlook for many developed and emerging nations is anticipated to benefit the market for on-demand washing services. On-demand laundry services will rise as a result of stable economic development, increased internet usage, rising disposable income, and people's busy lifestyles, which will result in a decline in the need for home washing machines.

Covid-19 Impact

The main home appliance and consumer electronics firms' worldwide supply chains have been impacted by COVID-19. China is one of the biggest users and makers of different consumer electronics and home appliances, but it also serves a variety of nations by exporting a number of raw materials that are essentially utilised to make completed items. Other consumer electronics manufacturers with operations in the US and Europe have been compelled to temporarily halt the production of final items due to the shutdown of the Chinese manufacturing industry. The gap between supply and demand is widening as a result of this.

The refrigerator segment is expected to be the largest during the forecast period

The refrigerator segment is estimated to have a lucrative growth; because it is one of the first appliances to be acquired whenever the household income reaches a sufficient level is a refrigerator, which has grown to be an essential component of a home. Since refrigerators are typically used constantly throughout the year, the product's yearly energy consumption is a significant concern. Due to their installation of energy-efficient compressors, insulation, and defrosting features, refrigerators with the energy star rating are in great demand. As a result of the increase in demand for such appliances, manufacturers make R&D investments to develop new energy-efficient goods.

The exhaust ventilation systems segment is expected to have the highest CAGR during the forecast period

The exhaust ventilation systems segment is anticipated to witness the highest CAGR growth during the forecast period, due to the system removes air from the home while allowing make-up air to enter through passive vents and building shell leaks. Systems for exhaust ventilation are best suited for cold areas. The exhaust system gathers the cylinder exhaust gases, filters out dangerous materials, lowers noise levels, and then releases the cleaned exhaust gases to an appropriate location away from the house.

Region with largest share

North America is projected to hold the largest market share during the forecast period owing to the massive import of several appliances, including refrigerators and washing machines in the U.S. and Canada, is what essentially drives the appliance consumption rate in North America. It is the largest regional economy in the world and is expected to continue playing a significant role in the global economy for the foreseeable future, especially in terms of the development of new technology. The region's consumption of IoT-based appliances will increase due to the region's strong consumer spending power, growing smart device penetration, and considerable customer demand for linked home appliances.

Region with highest CAGR

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to rising middle-class consumer demand for energy-efficient appliances in Asia Pacific will present fresh chances for market expansion. The market will expand as a result of shifting consumer preferences towards high-end white goods and the expansion of the middle class in nations like China and India. The demand for home goods like refrigerators and washing machines would increase due to the expanding populations in China and India.

Key players in the market

Some of the key players profiled in the Household Ventilation Electrical Appliance Market include Arise India Limited, Atlantic, Carrier, Daikin Industries, General Electric Company, Glen Dimplex, Greenheck Fan Corporation, Haier Inc., Hitachi, Honeywell, Johnson Controls, Lennox, LG Electronics, Mitsubishi Electric Corporation, Omen Electric and Gas Appliances Private Limited, Panasonic, Plunket Electric, Robert Bosch GmbH, Unovent And Whirlpool Corporation

Key Developments

In Jan 2022, LG launched, PuriCare AeroTower which was widely recognized for being one of the most exciting products of CES 2022 on behalf of its home appliance offerings.

In Feb 2020, Panasonic launched Cosmos, an innovative indoor air quality system. It is designed in such a way that it works automatically in the background to remove contaminated air and bring in fresh, filtered air from outside.

Products Covered
• Air Conditioner & Heater
• Entertainment & Information Appliances
• Refrigerator
• Cleaning Appliance
• Washing Machine
• Other Products

Installations Covered
• Exhaust Ventilation System
• Supply Ventilation System
• Spot Ventilation
• Whole house Ventilation
• Balanced Ventilation system
• Other Installations

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements