What Has Been The Historical And Current Growth Of The Ventilation System Market?
The ventilation system market has seen considerable growth due to a variety of factors.
• The size of the ventilation system market has significantly expanded over the past few years. Its growth is projected to rise from $33.23 billion in 2024 to $35.89 billion by 2025, reflecting an annual compound growth rate (CAGR) of 8.0%.
Factors that contributed to this robust growth during the historic period include solid economic progress in newly evolved markets, an increase in spending on construction activities, favorable government policies, and an uptick in investment in infrastructure.
What Does the Future Hold for the Ventilation System Market?
The ventilation system market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, there is a prediction for swift expansion in the ventilation system market. With a compound annual growth rate (CAGR) of 10.1%, its size is forecasted to hit $52.82 billion by 2029.
This surge in the projected timeframe can be associated with increasing apprehension about air quality, accelerated urbanization, and expansion of residential structures. Key trends surrounding this growth period comprise emphasis on business expansion, achieving net-zero emissions, forming partnerships and collaborations, devising innovative goods, investments in technologies like artificial intelligence (AI), as well as mergers and acquisitions.
What Are The Primary Growth Drivers In The Ventilation System Market?
The escalation of urbanization is anticipated to fuel the expansion of the ventilation system market in the future. As cities grow, a larger proportion of the population resides in urban locales, setting in motion the process of urbanization. Ventilation systems are pivotal to this development, improving air quality, reducing heat island effects, and enhancing the general environmental comfort. This contributes to nurturing healthier living conditions, bolstering the sustainable growth of cities and their resilience to environmental challenges. For instance, data from the World Economic Forum in April 2022, a Switzerland-based independent international organization, indicated that over 4.3 billion people or 55% of the global population dwelt in urban areas, a number projected to swell to 80% by 2050. Consequently, the surge in urbanization propels the ventilation system market.
What Are The Primary Segments In The Global Ventilation System Market?
The ventilation system market covered in this report is segmented –
1) By Product: Axial And Centrifugal Fans, Recovery Ventilation Systems, Other Products
2) By Type: Wall-Mount Type, Ceiling-Mount Type, Cabinet-Mount Type
3) By Application: Residential, Non-Residential
Subsegments:
1) By Axial And Centrifugal Fans: Axial Fans, Centrifugal Fans, Mixed Flow Fans
2) By Recovery Ventilation Systems: Heat Recovery Ventilation (HRV) Systems, Energy Recovery Ventilation (ERV) Systems
3) By Other Products: Ducts And Accessories, Air Filters, Ventilation Controls
Pre-Book The Ventilation System Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Key Trends Are Driving Changes In The Ventilation System Market?
Leading firms in the ventilation systems market are concentrating on creating innovative ventilation systems for residential buildings to improve indoor air quality, boost energy efficiency, and adhere to changing building rules, thereby promoting healthier living conditions that tackle the issues brought about by increasing urbanization and climate change. A ventilation system for residential buildings is formulated to control the home's air quality by ensuring proper air circulation, which results in the removal of old air and the introduction of fresh air. For instance, LG Electronics, a tech firm based in South Korea, unveiled a new ventilation system for residential buildings in July 2022 aimed to improve the quality of indoor air. The system comes with an integrated CO2 sensor, a HEPA filter, and UV-C technology, addressing the need for efficient ventilation in energy-saving buildings. It has Energy Recovery Ventilation (ERV) units that use a heat exchanger to prime the incoming air while regulating moisture levels. The system operates in three modes: ERV, Bypass, and automatically modifying fan speeds based on CO2 and particle levels, in accordance with the recent changes in building regulations in England that emphasize enhanced indoor air quality.
Who Are the Key Players in the Ventilation System Market?
Major companies operating in the ventilation system market include:
• Panasonic
• Daikin Industries Ltd
• Carrier
• Mitsubishi Electric
• LG Electronics
• Midea Group Co. Ltd.
• Johnson Controls
• Twin City Fan and Blower
• Greenheck Fan Corporation
• Honeywell International Inc.
• Zhongshan Aden Environmental Technology Co. Ltd
• Suzhou Mia Intelligent Technology Co. Ltd
• Beijing Holtop Air Conditioning Co. Ltd
• Shandong Beideli HVAC Equipment Co. Ltd
• TLT-Turbo GmbH
• Kemper GmbH
• LK Metallwaren GmbH
• ALNOR VENTILATION SYSTEMS LTD
• Bluevent Air Systems Sp. Z O.o
• Vent-Ex Sp. Z O.o.
• Entalpia Europe Sp. z o. o.
• KOMFOVENT
• CaptiveAire Systems
• Nortek Air Solutions
• Constromech Fzco
• Air Master Equipments Emirates LLC
• Modern Systems for Environmental Tech. Co.
• Munters
• Bacharach Inc
• Acme Engineering Prod.
• Eigenbrodt GmbH & Co
• Atlas Air Conditioning
• CFW Fans
• Trox Africa
• FabricAir South Africa
• Univent
• Daikin Egypt
• Aerovent
What Is The Most Dominant Region In The Ventilation System Market?
Asia-Pacific was the largest region in the ventilation system market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the ventilation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
