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Commercial Fan And Air Purification Equipment Market on Track for Strong Growth, Estimated to Grow at 8.2% CAGR Through 2029
Commercial Fan And Air Purification Equipment Market
What Is the Expected CAGR for the Commercial Fan And Air Purification Equipment Market Through 2025?
The market size of commercial fans and air purification equipment has experienced significant growth in the recent past. The market value, which is slated to be $84.57 billion in 2024, is projected to increase to $90.98 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%. The growth witnessed in the historical duration can be attributed to advancements in technology and heightened awareness among workers about poor air quality in their workplaces.
What's the Projected Size of the Global Commercial Fan And Air Purification Equipment Market by 2029?
In the coming years, the market for commercial fan and air purification equipment is anticipated to experience robust growth, with projections placing its value at $124.85 billion in 2029, reflecting a compound annual growth rate (CAGR) of 8.2%. Factors contributing to this predicted trend include the changes in climate, the effect of the COVID-19 pandemic, and the strict regulations for air pollution in the commercial and industrial sectors. Prominent strategies within this forecast period involve a pivot towards creating smart commercial fan and air purification devices to leverage the evolving demands and increasing popularity of these products, which could boost revenue. The focus is also on manufacturing energy-efficient commercial fan and air purification equipment and VOD systems. Additionally, an augmented attention toward merger and acquisition growth strategies could potentially broaden customer reach.
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Top Growth Drivers in the Commercial Fan And Air Purification Equipment Industry: What's Accelerating the Market?
The historical progression of the commercial fan and air purification equipment market was shaped significantly by advancements in technology. The proliferation of internet access and smartphone usage catalyzed the inception and utilization of cutting-edge, tech-integrated appliances. For instance, as per the data provided by the International Telecommunication Union (ITU), a specialized agency based in Switzerland that deals with information and communication technologies, there was a surge in internet usage in 2023. Around 5.4 billion individuals, representing 67 percent of the global populace, accessed the internet that year, marking a jump of 45 percent compared to 2021. These technological shifts thus had a profound impact on the historical air purifier market growth.
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Which Emerging Trends Are Transforming the Commercial Fan And Air Purification Equipment Market in 2025?
The trend towards more intelligent air purification devices is significantly influencing the market. There is growing global awareness about allergies, pollution, and climate change, leading to heightened consumer anxiety about air quality. This has facilitated an increase in demand for air purifiers. These smart air purifiers are interconnected through the internet and other technological means such as Bluetooth, near-field communication (NFC), and Wi-Fi. The emergence of Internet of Things (IoT) technology also aids smart air purifiers' progress. These air purifiers use a smartphone app to monitor and control air quality, providing up-to-date, live data on air conditions. For example, in November 2022, Samsung India Electronics Ltd. (SIEL), a subsidiary of the Korea-based Samsung Electronics Co. Ltd, released two Internet of Things (IoT) compatible air purifiers, the AX46 and AX32. These units remove ultrafine dust, nanoparticles, bacteria, and allergens.
What Are the Main Segments in the Commercial Fan And Air Purification Equipment Market?
The commercial fan and air purification equipmentmarket covered in this report is segmented -
1) By Type: Air Purification Equipment, Attic And Exhaust fans, Other Commercial Fan And Air Purification Equipment
2) By Range: Less Than 200 Square Ft, 200 - 400 Square Ft, More Than 400 Square Ft.
3) By Capacity: Small, Medium, Large
Subsegments:
1) By Air Purification Equipment: HEPA Air Purifiers, Activated Carbon Air Purifiers, UV-C Light Air Purifiers, Ionizers and Ozone Generators, Electrostatic Precipitators
2) By Attic and Exhaust Fans: Gable Attic Fans, Roof-Mount Attic Fans, Whole House Exhaust Fans, Bathroom Exhaust Fans, Kitchen Exhaust Fans
3) By Other Commercial Fans And Air Purification Equipment: Ceiling Fans, Pedestal Fans, Wall-Mounted Fans, Industrial Exhaust Fans, Blower Fans, Portable Air Purifiers And Fans
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Which Top Companies are Driving Growth in the Commercial Fan And Air Purification Equipment Market?
Major companies operating in the commercial fan and air purification equipment market include ebm-papst Group, Systemair, Sharp Corporation, CECO Environmental Corporation, Johnson Controls International plc, FlktGroup, Twin City Fan & Blower, Greenheck Fan Corporation, Munters, Volution Group plc, Daikin Industries Ltd, LG Electronics Inc, Panasonic, Xiaomi Corporation, Coway, Sunbeam Products Inc, YADU, Midea, Beiangtech, Air 0 Limited, Jimco A/S, Dry IT Out Limited, Air Concern Limited, Bench Vent, Respr Technologies, ABIOTEC UV, Dyson Ltd, IQ Air, Honeywell International Inc, Camfil, Koninklijke Philips Electronics NV, Blue Air, Electrolux, Lexy, Whirlpool Corp, Teqoya, Dexwet Holdings Corporation, Lennox International Inc, Air Purification Incorporated, Americair Corporation, Austin, Wynd Technologies, Samsung Electronics America.
Which Regions Will Dominate the Commercial Fan And Air Purification Equipment Market Through 2029?
Asia-Pacific was the largest region in commercial fan and air purification equipment in 2024. Western Europe was the second largest region in the commercial fan and air purification equipment. The regions covered in the commercial fan and air purification equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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