Market Size of Ventilation Equipment Industry
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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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 | ||||||||
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Latin America | ||||||||
Middle East and Africa |
Ventilation Equipment Market Size Summary
The Ventilation Equipment Market is poised for significant growth, driven by increasing awareness of indoor air quality and the need for effective environmental control systems. The COVID-19 pandemic has underscored the importance of air filtration and airflow management in reducing infection risks, leading to heightened demand for ventilation solutions. These systems are crucial in both residential and commercial settings, ensuring safe and comfortable environments by regulating airflow and preventing the accumulation of harmful pollutants. The market is also witnessing innovations, such as the integration of humidifiers with ventilation systems, which enhance indoor climate control. Government initiatives worldwide, like the Clean Air in Buildings Challenge, further emphasize the importance of improving indoor air quality, thereby boosting market prospects.
In the commercial sector, the demand for customized ventilation solutions is on the rise, with companies like Daikin Applied expanding their service offerings to support this trend. Strategic acquisitions and partnerships are common as companies aim to enhance their product portfolios and expand their market reach. The construction boom in regions like China and the focus on green buildings in countries like Japan and India are creating new opportunities for market players. Key industry players, including Daikin Industries, Lennox International, and Systemair, are actively introducing innovative products and forming collaborations to maintain a competitive edge. The market's moderate fragmentation indicates a dynamic landscape with numerous players vying for market share through technological advancements and strategic alliances.
Ventilation Equipment Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of the Impact of COVID -19 on the Market
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2. MARKET SEGMENTATION
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2.1 Equipment Type
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2.1.1 Air Filter
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2.1.2 Air Handling Unit
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2.1.3 Air Purifier
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2.1.4 Roof Vents
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2.1.5 Axial Fan
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2.1.6 Centrifugal Fan
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2.2 Application
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2.2.1 Industrial
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2.2.2 Commercial
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2.2.3 Residential
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Spain
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2.3.2.5 Italy
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2.3.2.6 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Rest of Asia Pacific
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2.3.4 Latin America
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2.3.5 Middle East and Africa
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Ventilation Equipment Market Size 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.