The global ventilation fans market size is predicted to surpass around US$ 3 billion by 2030, growing at a CAGR of 5.1% over the forecast period 2021 to 2030.
Ventilation fans are a type of air blower that are designed to move the air in a ventilation system. These fans are an essential part of the HVAC system that circulate air through a building infrastructure.
The key purpose of a ventilation system is to remove harmful or hazardous air from a workspace and supply fresh air instead. The fans in these systems intake the fresh air from outside and enables the system to re-circulate the air.
The rising concern regarding the betterment of indoor air quality would significantly drive the market. Increasing concerns about the health of workers has elevated the need for high performance, low energy consuming ventilation fans. In addition, growing emphasis by government authorities and labor communities to adapt a healthy working environment is also likely to fuel the demand for ventilation systems, subsequently driving the demand for ventilation fans.
The growing demand for advanced ventilation systems across various industrial, commercial, and residential buildings coupled with advancements in technology are some of the leading factors that are likely to drive market growth. The oil & gas sector is projected to provide abundant opportunities to the market players operating in the ventilation fan markets. Market players should capitalize on the opportunities in developing regions, including India and China, wherein commercialization and industrialization are in full swing.
Demand for Axial Fans Likely to Remain Consistent, Adoption of Centrifugal Fans across Commercial Buildings on Rise
Ventilation fans have come a long way since their inception due to advancements in technology, evolving regulatory landscape, and the nature of the application. Ventilation fans are an integral component in modern-day HVAC systems. The design and physical characteristics of a ventilation fan largely depend on the nature of the application. At present, market players involved in the ventilation fans market are increasingly focusing on providing integrated units wherein motor and controls are included to minimize space requirements and simplify the overall process of maintenance.
The demand for axial fans is expected to remain steady during the forecast period and likely to gain considerable adoption for applications in which static pressure and airflow are low. Axial fans are increasingly being used in cooling towers, combustion engine cooling systems, air conditioning condensers, etc. The low production as well as the maintenance costs of axial fans are factors likely to spurt the demand in the upcoming years. The demand for centrifugal fans is expected to witness notable growth during the forecast period, due to widening applications across the expanding commercial and industrial sectors mainly in the developing regions of the world. Centrifugal fans are well suited for commercial and industrial applications, owing to the high noise levels.
Market Players Focus on Introducing Innovative Ventilating Fans for Application in Oil & Gas Sector
Conventional mining ventilation systems have compelled manufacturers to roll out solutions that offer a perfect balance between energy usage and minimizing the environmental impact. However, as manufacturers continue to scramble to offer solutions to cater to these requirements, innovations in oil & gas ventilation systems have come at a slow pace. However, over the past decade, ventilation on demand (VOD) systems have gained considerable popularity as more and more players operating in the ventilation fans market landscape are increasingly focusing on offering energy-efficient ventilation systems that are integrated with advanced software models.
VOD systems are likely to gain noteworthy traction over the upcoming decade, owing to advancements in novel technologies, including artificial intelligence and the Internet of Things (IoT). Innovations in VOD systems have focused on directing the airflow to areas where it is required. VOD systems offer tremendous cost-cutting potential.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global ventilation fans market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
Key players operating in the global ventilation fans market include Panasonic Corporation, Nortek Inc., Systemair AB, Greenwood Airvac, Polypipe Ventilation, Vent-Axia, Airflow Developments Ltd., Mitsubishi Electric Corporation, Delta Electronics, Inc., and Titon plc.
This report focuses on ventilation fans market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall ventilation fans market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global ventilation fans market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global ventilation fans market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the ventilation fans market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of ventilation fans are as follows:
The research methodology adopted by analysts for compiling the global ventilation fans market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global ventilation fans market.
The study objectives of this report are: