Ventilation System Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Ventilation System Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

It will grow to $47.78 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. ”

— The Business Research Company

LANDON, GREATER LANDON, UK, June 28, 2024 /EINPresswire.com/ — The ventilation system market has exhibited robust growth, expanding from $30.91 billion in 2023 to $33.48 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.3%. This growth trajectory is attributed to strong economic advancements in emerging markets, increased construction expenditures, supportive governmental initiatives, and heightened infrastructure investments. Looking ahead, the market is poised for further acceleration, projected to reach $47.78 billion by 2028 with a CAGR of 9.3%. This anticipated growth is driven by escalating concerns over air quality, rapid urbanization trends, and the burgeoning residential construction sector. Key trends shaping the market include expansions by industry players, initiatives towards achieving net-zero emissions, collaborative ventures, advancements in innovative product development, strategic investments in technologies like artificial intelligence (AI), and strategic mergers and acquisitions.

Rising Concerns over Air Quality Drive Market Growth

The rising concerns over air quality, particularly indoor air quality, are significant drivers for the ventilation system market. Indoor air pollutants can often exceed outdoor levels, with detrimental effects on human health. The US Environment Protection Agency reports that indoor air pollutants can reach levels several times higher than outdoor concentrations, a critical issue considering people spend about 90% of their time indoors. This scenario underscores the necessity for effective ventilation systems to mitigate indoor air pollutants and maintain healthier indoor environments.

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Key Players and Market Trends

Key players like Panasonic, Daikin Industries Ltd., and Carrier are focusing on product innovation to enhance energy efficiency and performance. For instance, Greenheck introduced the RV-10 model, featuring advanced temperature and moisture control capabilities with reduced noise levels and improved energy efficiency, catering to both partial recirculation and 100% outside air systems.
In strategic moves, companies are also engaging in partnerships and collaborations to expand their market presence and technological capabilities. This includes mergers and acquisitions aimed at strengthening product portfolios and enhancing service offerings within the ventilation system market.

Segments:

Product: Axial And Centrifugal Fans, Recovery Ventilation Systems, Other Products
Type: Wall-Mount Type, Ceiling-Mount Type, Cabinet-Mount Type
Application: Residential, Non-Residential

Geographical Insights: North America Emerging as the Fastest-Growing Region
Asia-Pacific dominated the ventilation system market in 2023, driven by rapid industrialization and increasing infrastructure investments. However, North America is expected to emerge as the fastest-growing region in the forecast period, fueled by stringent regulations on indoor air quality and rising construction activities in residential sectors.

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Ventilation System Global Market Report 2024 from TBRC covers the following information:

Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Ventilation System Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ventilation system market size, ventilation system market drivers and trends, ventilation system market major players, competitors’ revenues, market positioning, and market growth across geographies. The ventilation system market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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