Press release
Ventilation Equipment Market is Estimated to Represent US$ 24,917.5 Mn in revenues by 2025
Increasing Incidences of Asthma and COPD Owing to Surged Air Pollution Levels to Drive Market Growth
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Exaggerated Marketing by New Entrants to Mislead Customers in Purchasing Ventilation Products
However, exaggerated marketing by new entrants has resulted into confusion among customers. Variety of options, sizes and prices offered by these players have been misleading customers in purchasing ventilation products. This is expected to spread mistrust and impede adoption of ventilation products, especially across developing economies, where absence of awareness about such products already persists.
Based on equipment type, air filter are expected to remain sought-after among end-users, followed by air purifiers. By 2025, demand for air filter in the market is projected to surpass 8,000,000 units, expanding at 5.3% CAGR in terms of volume. In addition, sales of axial fans are projected to exhibit second highest CAGR through 2025.
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Industrial Application of Ventilation Equipment to Account for over 70% Market Share by 2025-end
Industrial application of ventilation equipment are expected to account for over 70% share of the market value, with revenues pegged to reach nearly US$ 30,000 Mn by 2025. Robust adoption of ventilation equipment by manufacturing sector, catering to needs of commercial and residential sectors, is expected to drive demand for ventilation equipment from industrial application. In addition, non-industrial application of ventilation equipment is projected to witness highest CAGR of 6.1%.
Asia Pacific (APAC) will remain the largest market for ventilation equipment. Market in this region was evaluated at US$ 10,101.7 Mn in 2016; by 2025 it is estimated to reach US$ 20,000 Mn, expanding at 7.3% CAGR. Availability of cost-effective land and labor, coupled with surging construction rate and lifestyle of people is driving growth of the market in this region. In terms of value, North America and Middle East & Africa (MEA) are expected to exhibit parallel expansion at 4.5% CAGR through 2025. In addition, leading manufacturers are gaining a firm foothold in Western Europe, which in turn is estimated to drive market growth in Europe by 2025-end.
Key players identified in PMR’s report include Daikin Industries, Ltd., Lennox International Inc., Takasago Thermal Engineering Co. Ltd., Systemair AB, Totech Corporation Inc., Greenheck Fan Corporation, Air System Components Inc., Gree Electric Appliances Inc. of Zhuhai, Nuaire, CECO Environmental Corp., Crompton Greaves Consumer Electricals Ltd., Kruger Ventilation Industries Pte Ltd., Airflow Developments Limited, Maico Elektroapparate-Fabrik GmbH, Schaefer Ventilation Equipment, LLC, Envirovent Ltd., Manrose Manufacturing Ltd., Stamm International Corporation, Zibo Lihua Ventilation Equipment Co. Ltd., VES Andover Ltd
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𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐈𝐧𝐭𝐫𝐚𝐥𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥 𝐇𝐚𝐧𝐝𝐥𝐢𝐧𝐠 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐌𝐚𝐫𝐤𝐞𝐭
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