Press release
Ventilation System Market: CAGR of 8.0%, Noteworthy Growth Drivers and Key Trends
Ventilation System Market
What Is The Projected Market Size Of The Global Ventilation System Market And Its Growth Rate?
The ventilation system market is anticipated to see considerable growth, driven by favorable government initiatives and an increase in infrastructure investment.
•From $33.23 billion in 2024, the market will grow to $35.89 billion in 2025 at a compound annual growth rate (CAGR) of 8.0%.
•The future holds promise as the market size is forecasted to expand to $52.82 billion in 2029 with a CAGR of 10.1%.
This growth is largely attributed to a spike in concerns regarding air quality, rising urbanization and the surge in residential buildings.
What Is Driving The Growth In The Ventilation System Market?
Rising urbanization is a key driver of the ventilation system market growth. It is regarded as a process of city expansion, resulting in a larger proportion of the population residing in urban areas. Ventilation systems play a vital role in ensuring healthier living conditions in cities by improving air quality, mitigating urban heat island effects and enriching overall environmental comfort. For example, according to the World Economic Forum, over 4.3 billion people, or 55% of the global population, inhabited urban areas in April 2022, and this figure could reach 80% by 2050. Hence, soaring urbanization is a major propellant for the ventilation system market.
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Who Are the Key Players Driving Ventilation System Market Growth?
Several key players contribute to the growth of the Ventilation System Market, including:
•Panasonic
•Daikin Industries Ltd
•Carrier
•Mitsubishi Electric
•LG Electronics
•Midea Group Co. Ltd.
•Johnson Controls
•Twin City Fan and Blower
•Greenheck Fan Corporation
•Honeywell International Inc.
What Are The Key Trends In The Ventilation System Market?
Key trends shaping the ventilation system market growth include:
•Company expansion
•Striving for net zero emissions
•Partnerships and collaborations
•Integration of artificial intelligence technology
•Mergers and Acquisitions
What Are The Segments Of The Global Ventilation System Market?
The global ventilation system market can be segmented as:
1) By Product: Axial And Centrifugal Fans, Recovery Ventilation Systems, Other Products
2) By Type: Wall-Mount Type, Ceiling-Mount Type, Cabinet-Mount Type
3) By Application: Residential, Non-Residential
Which Region Leads The Ventilation System Market?
Asia-Pacific was the largest region in the ventilation system market in 2024. With North America predicted to be the fastest-growing region during the forecast period, the future looks highly promising for the global ventilation system market.
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What Is Covered In The Ventilation System Market Global Market Report?
- Market Size Analysis: Analyze the Ventilation System Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Ventilation System Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Ventilation System Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Ventilation System Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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