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Ventilation Fans Market fueled by Increased Construction of Residential and Commercial Spaces
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Currently, ventilation fans find widespread application in the residential sector. The commercial sector, however, is projected to generate more revenue than the former over the forecast period. Axial ventilation fans are the most demanded products in this market. Their wide-ranging application in automobiles, computer cooling, and wind tunnels and as cooling fans, ceiling fans, and ventilation exhaust fans is boosting their demand significantly.
Infrastructural Developments Boost Demand for Ventilation Fans
The increased construction of residential and commercial spaces, thanks to the growing population as well as rapid urbanization across the world, has boosted the demand for ventilation fans remarkably, states an analyst at TMR.
The economic rise of BRICS nations and the commencement of major infrastructural development projects in the Middle East and North American countries have propelled the construction industry in these regions. Recently, economies such as the UAE, Saudi Arabia, and Qatar have undertaken huge commercial as well as residential construction projects. With the rising construction of commercial structures such as offices and hotels, the demand for ventilation fans is increasing significantly in these regions.
Apart from this, in the coming years, major sports events are scheduled to take place in Brazil (Olympic 2016), Russia (FIFA World Cup 2018), and Qatar (FIFA World Cup 2022). As such large-scale events entail first-rate infrastructure and other auxiliary amenities, these fans are likely to witness substantial demand in the next few years.
View Report: http://www.transparencymarketresearch.com/ventilation-fans-market.html
Overall, the opportunity in ventilation fans looks bright for the coming years; however, the high initial purchasing and installation cost of these fans may limit their application to some extent in the near future.
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