Ventilation Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.21 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Ventilation Equipment Market Analysis
The Ventilation Equipment Market is expected to witness growth at a CAGR of 7.21% over the forecast period (2022- 2027). The demand for environmental control during this COVID-19 crisis significantly increased because air filtration, airflow, and humidity are all three critical components used in minimizing the risk. Due to this, shutting down a Ventilation system during a crisis such as this is not recommended. Filtration is an essential element in assuring indoor air quality (IAQ) because if the virus can be captured in the filtration system itself, it reduces the risk of people getting infected inside the building.
- Home ventilation systems provide residents with a safe and comfortable living environment. These systems regulate airflow in the home to prevent pollutants like smoke, carbon dioxide, and volatile organic compounds from accumulating. When outdoor pollutant levels are high or indoor temperatures rise during the summer months, homes should have multiple ventilation fans installed throughout the interior to expel dangerous gases from within.
- Moreover, ventilation equipment at hospitals and clinics has huge energy consumption levels. Reducing overall energy usage, proper ventilation, and indoor air quality is maintained to ensure proper infection control and patient safety. Healthcare facilities that are not properly ventilated can lead to the spread of airborne pathogens throughout the facility. Patients who have compromised immune systems are therefore at risk owing to improper ventilation.
- Further, people have become very conscious about their health and safety and therefore are also increasing their spending on ventilation equipment. Moving air through supply and exhaust ventilation not only cools residential infrastructure but also helps control airborne contaminants to acceptable levels. Moreover, it also helps in reducing heat points and stress and regulates temperature, humidity, and odors.
- In February 2022, Airobot Technologies announced that it is expanding its product range in the field of humidity and has developed a central humidifier that keeps indoor humidity at a healthy level. The central humidifier allows keeping the level of humidity in the rooms healthy through the ventilation system. Airobot is known to be the first manufacturer to integrate a ventilation unit and humidifier into a single system and user interface. The device's advantage is that the indoor climate of the home will be controlled from one device. These developments are creating greater opportunities in the market.
- Additionally, the governments of various countries across the globe are significantly focusing on improving ventilation in the buildings. For instance, in March 2022, the Biden-Harris Administration released the National COVID-19 Preparedness Plan. The government announced to launch Clean Air in Buildings Challenge, which calls on all building owners and operators, schools, colleges and universities, and all kinds of organizations to adopt key strategies to improve indoor air quality in their buildings and reduce the spread of COVID-19. The Clean Air in Buildings Challenge is a call to action to assess indoor air quality and make ventilation and air filtration improvements, thereby keeping occupants safe.
Ventilation Equipment Market Trends
This section covers the major market trends shaping the Ventilation Equipment Market according to our research experts:
Commercial Segment is Expected to Hold a Significant Market Share
- The commercial segment involves the usage of applied ventilation equipment in all commercial buildings and infrastructures, such as restaurants, residential lodges, and small to large shopping complexes and offices. In commercial buildings, installation of semi-custom ventilation equipment is done wherever the buildings are not uniform and require certain customization, instead of standard equipment available in the market.
- In February 2021, Daikin Applied announced that its factory service operations in Southern and Central Ohio (the United States) have combined with ElitAire, its existing parts distributor and sales representative in the region. ElitAire, which is now part of the Daikin Group, is likely to be Daikin Applied's authorized service and technology provider across the territory, supporting customers throughout the lifecycle of their commercial heating, cooling, and ventilation equipment. Such partnerships are poised to increase the usage of custom ventilation equipment of Daikin in the commercial sector of that respective region.
- To expand their product portfolio and carter a wide range of customers, the companies are acquiring HVAC providers. For Instance, in April 2021, Arbonia entered into a purchase agreement to acquire a 100% stake in Termovent Komerc d.o.o. as part of its HVAC growth strategy. With the acquisition of Termovent, Arbonia can significantly boost its production, R&D, and sales capabilities in the rapidly expanding markets of commercial and industrial ventilation systems, cleanroom technology, air handling units, and indoor air quality.
- Further, in May 2021, Honeywell expanded its holistic Healthy Buildings Air Quality offering to help improve and measure commercial building indoor air quality with the introduction of Honeywell Electronic Air Cleaners (EACs) with UV Systems and a new line of indoor air quality (IAQ) sensors. These developments further boost the studied market globally.
Asia Pacific is Expected to Register Significant Growth
- China is one of the significant markets for data center cooling, due to the exponential growth in the number of data centers and the government's policies to support more energy-efficient infrastructure in the country. China is also the fastest-expanding data center market in the world. With fintech growth and digital transformation in the country, this expansion offers a massive opportunity for the vendors in the market studied.
- According to the measure of data center space per user, internet data centers in China may expand to at least 22 times compared of the United States, or at least ten times the current area of Japan. Such expansion may generate demand for the deployment of ventilation equipment.
- Also, the construction industry in China has witnessed massive growth due to sustainable construction policies and a shift toward a service-led economy over the past few years. Investing in large-scale infrastructure projects has been a vital part of the Chinese government's strategy to boost growth.
- Furthermore, the increasing pollution levels in Japan are compelling the country to sharpen its focus on green buildings, which may create many avenues for industry players to invest and expand their foothold in the market under study.
- Industry players are laying high emphasis on forming a strategic alliance, which may aid the companies to garner higher market share and boost their presence in India. Moreover, the country is rapidly heading toward green buildings, which may create new avenues for market players. According to ANAROCK, a property consultant, the green building market in India is expected to reach a value of about USD 35-30 Billion by 2022.
Ventilation Equipment Industry Overview
The Ventilation Equipment Market is moderately fragmented with the presence of several companies across the globe. Some of the key players include Daikin Industries, Ltd, Lennox International Inc., and Systemair AB, among others. The vendors in this market are introducing new innovative products and forming partnerships and collaborations to gain competitive advantages.
- June 2022 - Warmafloor, part of the Wavin Group, has launched a new range of mechanical heat recovery ventilation systems. The ultra-efficient Ventiza range offers a complete end-to-end solution, which helps to control the flow of air into any residential space.
- March 2021 - EnviroVent, a ventilation systems manufacturer, announced to launch its new MEV 160 and MEV 300. These are versatile, compact, high-performance mechanical ventilation systems ideal for houses, apartments, and other communal residences, such as care homes and student accommodation. The MEV 160 and MEV 300 are designed to significantly enhance indoor air quality with multiple extract points to simultaneously draw moisture-laden air from the wet rooms, whilst minimizing the migration of humidity to other rooms. They have airflow rates up to 75l/s for the MEV 160 and 103l/s for the MEV 300 and can achieve extremely low Specific Fan Powers down to 0.19 W/l/s, suitable for applications with a kitchen plus six additional wet rooms.
Ventilation Equipment Market Leaders
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Daikin Industries, Ltd
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Lennox International Inc.
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Systemair AB
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Air System Components Inc.
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Crompton Greaves Consumer Electricals Ltd.
*Disclaimer: Major Players sorted in no particular order
Ventilation Equipment Market News
- October 2021 - Domus Ventilation launched the new D-dMEV range of single flow, continuous running decentralized mechanical ventilation fans for small to medium size rooms, such as bathrooms and toilets. The D-dMEV, which can be fitted in a wall/panel, ceiling, or window, extracts indoor stale air directly to the outside providing a more comfortable indoor living space. Its unique winglet-type impeller provides enhanced air extraction for maximum effectiveness, and remains very quiet in operation - down to 9 dba - and has a low power consumption.
- September 2021 - Super Vac, one of the significant manufacturers in fire ventilation equipment, has redesigned its Web site, supervac.com, to better promote its full lineup of ventilation equipment for firefighting and industrial applications. With dual product lines and the largest breadth of ventilation equipment in both industries, this Web site makes it easier to navigate Super Vac's offerings.
Ventilation Equipment Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definitions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
- 4.4 Assessment of the Impact of COVID -19 on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 High Prevalence of Respiratory Diseases (COPD and Asthma)
- 5.1.2 Growing Popularity of Decentralized Ventilation System
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5.2 Market Restraints
- 5.2.1 Dependence on Macro-economic Conditions
- 5.2.2 Growing Competition to Limit Margins
6. MARKET SEGMENTATION
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6.1 Equipment Type
- 6.1.1 Air Filter
- 6.1.2 Air Handling Unit
- 6.1.3 Air Purifier
- 6.1.4 Roof Vents
- 6.1.5 Axial Fan
- 6.1.6 Centrifugal Fan
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6.2 Application
- 6.2.1 Industrial
- 6.2.2 Commercial
- 6.2.3 Residential
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6.3 Geography
- 6.3.1 North America
- 6.3.1.1 United States
- 6.3.1.2 Canada
- 6.3.2 Europe
- 6.3.2.1 United Kingdom
- 6.3.2.2 Germany
- 6.3.2.3 France
- 6.3.2.4 Spain
- 6.3.2.5 Italy
- 6.3.2.6 Rest of Europe
- 6.3.3 Asia Pacific
- 6.3.3.1 China
- 6.3.3.2 Japan
- 6.3.3.3 India
- 6.3.3.4 Rest of Asia Pacific
- 6.3.4 Latin America
- 6.3.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 Daikin Industries, Ltd
- 7.1.2 Lennox International Inc.
- 7.1.3 Systemair AB
- 7.1.4 Air System Components Inc.
- 7.1.5 Crompton Greaves Consumer Electricals Ltd.
- 7.1.6 Totech Corporation Inc.
- 7.1.7 Kruger Ventilation Industries Pte Ltd.
- 7.1.8 Takasago Thermal Engineering Co. Ltd.
- 7.1.9 Schaefer Ventilation Equipment
- 7.1.10 VES Andover Ltd
- 7.1.11 Airflow Developments
- 7.1.12 Greenheck Fan Corporation
- 7.1.13 FläktGroup
- 7.1.14 Powrmatic Ltd
- *List Not Exhaustive
8. INVESTMENTS ANALYSIS
9. FUTURE OF THE MARKET
** Subject To AvailablityVentilation Equipment Industry Segmentation
The study provides an in-depth analysis of the current market scenario and key trends in the ventilation equipment market. The study is segmented by Equipment Type (Air Filter, Air Handling Unit, Air Purifier, Roof Vents, Axial Fan, Centrifugal Fan), and Application (Industrial, Commercial, Residential) in different geographies. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry that supports the market estimations and growth rates over the forecast period. The study further analyzes the overall impact of COVID-19 on the market.
| Equipment Type | Air Filter | |
| Air Handling Unit | ||
| Air Purifier | ||
| Roof Vents | ||
| Axial Fan | ||
| Centrifugal Fan | ||
| Application | Industrial | |
| Commercial | ||
| Residential | ||
| Geography | North America | United States |
| Canada | ||
| Geography | Europe | United Kingdom |
| Germany | ||
| France | ||
| Spain | ||
| Italy | ||
| Rest of Europe | ||
| Geography | Asia Pacific | China |
| Japan | ||
| India | ||
| Rest of Asia Pacific | ||
| Geography | Latin America | |
| Middle East and Africa |
Ventilation Equipment Market Research FAQs
What is the current Ventilation Equipment Market size?
The Ventilation Equipment Market is projected to register a CAGR of 7.21% during the forecast period (2024-2029)
Who are the key players in Ventilation Equipment Market?
Daikin Industries, Ltd, Lennox International Inc., Systemair AB, Air System Components Inc. and Crompton Greaves Consumer Electricals Ltd. are the major companies operating in the Ventilation Equipment Market.
Which is the fastest growing region in Ventilation Equipment Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Ventilation Equipment Market?
In 2024, the Asia-Pacific accounts for the largest market share in Ventilation Equipment Market.
What years does this Ventilation Equipment Market cover?
The report covers the Ventilation Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Ventilation Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Ventilation Equipment Industry Report
Statistics for the 2024 Ventilation Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Ventilation Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
