Rapidly increasing air pollution levels has led to growing cases of asthma as well as COPD (chronic obstructive pulmonary disorders), thereby creating growth opportunities for ventilation equipment market. Stringent environmental and government regulations has been implemented on the back of increasing concern over safety and health of the industrial workforce, which drives the demand for ventilation equipment. Furthermore, manufacturers in ventilation equipment market are entering into strategic partnerships with the IP solution providers for integrating innovative technologies in ventilation equipment. This in turn helps the key players and manufacturers in ventilation equipment market to expand their product portfolio in order to cater to the growing consumer demand.
Emerging players are anticipated to focus on the revolutionary technology in order to lead the advanced ventilation equipment market. Rapid growth of pharmaceutical and chemical industries with novel capacity additions for several downstream products is likely to benefit in the growth of ventilation equipment market. Increasing infrastructural development and growing urbanization in the emerging economies has resulted in growing expenditure on the dynamic infrastructural sectors like transport, water and power leading to positive growth avenues for ventilation equipment market. Rising trend of implementing the energy efficiency standards and for catering to minimal ventilation in commercial buildings and homes is expected to significantly boost the growth of ventilation equipment market.
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Ventilation equipment are used in buildings to maintain the temperature and to improve the quality of indoor air. These equipment are utilized in both the exchange of air – inside to outside and circulation within the building. Ventilation equipment are essential to maintain indoor quality of air in building. Different type of equipment available in ventilation equipment market includes heat recovery ventilation units, room air distribution units and fume hoods. Fume hoods are majorly used in kitchen and laboratories to remove heat, odor and smoke. Room air distribution units are used to mix the existing air with new conditioned air in homes and offices.
Ventilation Equipment Market: Drivers & Restraints
Construction industry is expected to register a substantial growth worldwide in upcoming years which is expected to be driver for the increasing demand for ventilation equipment market during the forecast period. Increasing urbanization supported by regulation for energy efficient building across the globe is likely to spur the growth of the ventilation equipment market.
Ventilation Equipment Market: Segmentation
On the basis of product type, ventilation equipment market is broadly segmented as:
- Axial Fans
- Centrifugal Fans
- Cross Flow Fans
- Domestic Exhaust Fans
- Power Roof Fans
- Range Hoods
On the basis of Application, the ventilation equipment market is segmented into:
- Non – Residential
Ventilation Equipment Market: Overview
Regulations for energy efficient building implement by government all over the world increased the demand for ventilation equipment as it helps in maintain the temperature in an area with less energy consumption. With growing environmental concerns and increasing awareness among the end users ventilation equipment market is expected to register a substantial growth during the forecast period.
Ventilation Equipment Market: Key Players
Some of the players in the ventilation equipment market we identified includes, Centrotec Sustainable AG, Greenheck Fan Corp., CaptiveAire Systems Inc, Twin City Fan Companies Ltd., Munters AB, Nortek Incorporated, Fläkt Woods Group and Soler & Palau Group.
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