Rapid urbanization in recent years, has resulted in a healthy demand for ventilation fans on a global scale. This trend is expected to continue through the forecast period (2019-2029). The high numbers of infrastructure projects in North America and the Middle East in commercial, industrial, and residential settings is expected to bolster demand, with support from government initiatives on ventilation and aeration in the years ahead.
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Key Takeaways of Global Ventilation Fans Market Study
- In terms of product, axial ventilation fans are expected to dominate the sector and grow by 1.9 X, which can be attributed to higher demand in terms of ceiling fans, cooling fans, and exhaust fans. The nascent field of power roof axial fans will also substantially add to the demand. On the other hand, centrifugal ventilation fans will account for the remainder, while displaying a higher CAGR surpassing 7 %.
- In terms of deployment configurations, wall mounted ventilation fans are expected to hold the larger market share of more than 65 % and a healthy rate of growth, owing to the widespread need of heavy duty air circulation, and easier installations. On the other hand, the ceiling mounted ventilation fans is expected to grow 2X during the forecast period.
- When it comes to application, industrial use of ventilation fans will account for a larger market share of more than 45 %, owing to a push from government regulations and policies towards employee safety. However, commercial and residential applications are projected to grow at a faster rate surpassing 6% and 7 % respectively, largely due to a focus on mechanical ventilation solutions towards health issues.
- North America has established itself as the biggest market for ventilation fans accounting for close to 30 % of the overall revenue, owing to the regulations associated with the Passive House standards, which focus on airtight, and energy efficient homes. On the other hand, the presence of numerous manufacturing facilities are driving countries in East Asia, South Asia & Oceania, and Middle East and Africa to grow 2.0 x.
“Increasing infrastructure programs by governing bodies in developing countries boost residential and commercial ventilation activities. These infrastructure development activities with increasing urbanization will bolster the demand in forthcoming years.” says the Fact.MR analyst.
Global Ventilation fan Market: In-Depth Assessment on Key Segments
The global ventilation fan market is segmented on the basis of product type, raw material, deployment, application and region.
By Product Type :
By Raw Material :
By Deployment :
By Application :
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania