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Attic And Exhaust fans Global Market Analysis Development Trends, Industry Growth Opportunities, Regional Demand and Forecast 2024-2033 | Greenhack, Systemair, Twin City Fan, Howden, Atmox Inc.
Attic And Exhaust Fans Market
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According to The Business Research Company's, The attic and exhaust fans market size has grown strongly in recent years. It will grow from $9.53 billion in 2023 to $10.29 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to energy efficiency concerns, climate change awareness, building regulations, home renovation trends.
The attic and exhaust fans market size is expected to see strong growth in the next few years. It will grow to $13.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increasing temperatures, energy efficiency standards, smart home integration, green building practices, urbanization and population growth, renovation and retrofitting, health and indoor air quality. Major trends in the forecast period include improved ventilation technology, quiet operation, sustainable materials and manufacturing, solar-powered fans.
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Market Drivers and Trends:
The growing construction industry is expected to propel the growth of the attic and exhaust fans market going forward. The construction industry is a sector of the economy that involves planning, designing, constructing, maintaining, and repairing buildings, infrastructure, and industrial facilities. Attic ventilation fans can help to lower attic temperatures and remove excess moisture, which can help to reduce air-conditioning energy costs, optimize the service life of a roof covering, and minimize ice damming. For instance, according to the United States Census Bureau, a US-based government agency, in August 2023, the United States construction industry experienced an estimated seasonally adjusted annual rate of $1,983.5 billion in spending, which is 0.5% above the revised July estimate of $1,973.7 billion. The August figure is 7.4% above the August 2022 estimate of $1,847.3 billion. Thus, the growing construction industry is driving the growth of the attic and exhaust fans market.
Major companies operating in the attic and exhaust fan market are developing innovative products such as, solar power attic fan to improve customer satisfaction and loyalty. A solar power attic fan is a type of attic fan that is powered by solar energy. It is designed to help regulate the temperature in the attic by removing hot air and moisture. For instance, in November 2022, Solar Royal LLC, a US-based solar energy equipment manufacturer, launched SR1800. The SR1800 is a premium solar-powered ventilation/attic fan that uses solar power to operate and offers the latest innovations in attic ventilation solutions. It is designed to reduce temperatures inside enclosed spaces throughout the year, like attic spaces, crawl spaces, warehouses, storage areas, sheds, barns, and commercial buildings. The solar-powered attic fan helps make all these areas more comfortable by converting passive ventilation to active, reducing HVAC costs and cooling cycles, which also saves energy and money.
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Major Key Players of the Market:
Greenhack, Systemair, Twin City Fan, Howden, Soler & Palau, Attic Breeze LLC, Industrial Fans Direct, Daltec Fans, Atmox Inc., Wayne's Solar Inc., Johnson Controls, Nanfang Ventilator, Munters, Polypipe Ventilation, Greenwood Airvac
Attic And Exhaust fans Market 2024 Key Insights:
• The attic and exhaust fans market size is expected to see strong growth in the next few years. It will grow to $13.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Booming Construction Industry Boosts The Attic And Exhaust Fans Market
• Innovation Drives Customer Satisfaction
• The Asia-Pacific was the largest region in the attic and exhaust fans market in 2023
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