Increasing Demand for Regular and Healthy Airflow to Drive Uptake of Global Ventilation Fans Market; Valuation to Reach US$3 Bn by 2030 End - Transparency Market Research
ALBANY, New York, June 10, 2020 /PRNewswire/ -- Transparency Market Research has now come up with a new research report that provides detailed information about the overall working dynamics of the global ventilation fans market. The research report offers actionable insights on the key market segments, prominent driving and restraining factors, geographical outlook, and the overall situation of the vendor landscape.
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According to the research report, the global ventilation fans market is expected to showcase a healthy CAGR of ~5% over the course of the given forecast period ranging from 2020 to 2030. Given the rate of growth, the valuation of the market is expected to rise up to US$3 Bn by the fall of 2030.
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Global Ventilation Fans Market - Key Takeaways
-- The global market for ventilation fans is segmented in terms of type of
product, installation, end use sector, and region.
-- In terms of product type, the global market is being dominated by the
segment of axial fan. The growth of the segment is primarily driven due
to the growing demand for tube and propeller axial fans from different
sectors such as industrial, commercial, and retail for variety of
applications.
-- In terms of installation, the global market is being currently dominated
by the wall mounted fans. However, it is projected that the segment of
roof mounted fans will witness a promising rate of growth in the coming
years of the forecast period due to their ease of installation and
overall improved performance.
-- In terms of end use, the global ventilation fans market is being
dominated by the commercial sector. The growth of the segment is due to
the increasing construction and building activities occurring across
different parts of the globe.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Ventilation Fans Market (Product Type: Axial Fans [Propeller, Tube Axial, and Vane Axial] and Centrifugal Fans [Forward Inclined Blade, Backward Inclined Blades, and Straight Radial Blades]; Installation: Wall Mounted and Roof Mounted; and End Use: Residential, Commercial [Hotels & Restaurants, Malls & Shopping Centers, Hospitals & Medical Centers, Warehouses & Garage, and Others], and Industrial [Oil & Gas, Automotive, Food & Beverage Processing, Chemical, Industrial Manufacturing, and Others]) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/ventilation-fans-market.html
Global Ventilation Fans Market - Key Driving Factors
-- One of the biggest driving factors for the growth of the global
ventilation fans market rise in the construction and building activities
across globe. With several development projects underway such as hotels,
malls, residential buildings, commercial buildings, and other industrial
applications, the growth of the market will remain consistent over the
course of the given forecast period.
-- Another important driving factor for the market growth is the increasing
demand from the industrial sector. Ventilation fans are needed in
several industries to pump in fresh air and avoid risk of suffocation
and spread of toxic gases.
-- Moreover, the government has also issued stringent employee security
norms which requires industries to install upgraded systems in order to
functions.
-- Such factors are thus projected to drive the overall growth of the
global ventilation fans market in the coming years of the forecast
period.
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Global Ventilation Fans Market - Key Restraining Factors
-- The current outbreak of COVID-19 pandemic has become a huge concern for
the growth of the global ventilation fans market.
-- Due to the pandemic, nearly all the outdoor and building activities are
shut down and thus, the demand for the fans has also gone down,
affecting the market growth.
Global Ventilation Fans Market - Geographical Outlook
-- Currently, the global market is being dominated by the regional segment
of Europe. The growth of the market is the issuance of strict safety
guidelines by the governments in the region.
-- It is projected that the regional segment of Asia Pacific is expected to
witness a promising rate of growth in the coming years of the forecast
period.
Analyze Ventilation Fans Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Global Ventilation Fans Market - Key Players
Key players operating in the global ventilation fans market include Panasonic Corporation, Nortek Inc., Systemair AB, Greenwood Airvac, Polypipe Ventilation, Vent-Axia, Airflow Developments Ltd., Mitsubishi Electric Corporation, Delta Electronics, Inc., and Titon plc. Companies operating in the ventilation fans market are extensively focusing on introducing innovative products in order to gain more market share.
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Global Ventilation Fans Market: Segmentation
Ventilation Fans Market, by Product Type
-- Axial Fans
-- Propeller
-- Tube Axial
-- Vane Axial
-- Centrifugal Fans
-- Forward Inclined Blades
-- Backward Inclined Blades
-- Straight Radial Blades
Ventilation Fans Market, by Installation
-- Wall Mounted
-- Roof Mounted
Ventilation Fans Market, by End Use
-- Residential
-- Commercial
-- Hotels & Restaurants
-- Malls & Shopping Centers
-- Hospitals & Medical centers
-- Warehouses & Garage
-- Others
-- Industrial
-- Oil & Gas
-- Automotive
-- Food & Beverage Processing
-- Chemical
-- Industrial Manufacturing
-- Others
Ventilation Fans Market, by Region
-- North America
-- U.S.
-- Canada
-- Rest of North America
-- Europe
-- Germany
-- France
-- Italy
-- U.K.
-- Rest of Europe
-- Asia Pacific
-- China
-- Japan
-- India
-- Rest of Asia Pacific
-- Middle East & Africa
-- GCC Countries
-- South Africa
-- Rest of MEA
-- South America
-- Brazil
-- Rest of South America
Explore Transparency Market Research's award-winning coverage of the Global Factory Automation Industry:
Industrial Fans and Blowers Market - Rising demand for power consumption, owing to increased population, is driving the incorporation of power generation units such as nuclear power plants, hydro power plants, coal, and thermal power plants. Such power plants require industrial fans and blowers to supply air for combustion, supply fuel to burners, and circulate gases for better heat transfer. Additionally, solar and wind energy power plants require industrial fans to cool down the inverters and generators.
Electronically Commutated (EC) Fans Market - Smart synchronous permanent magnet motor (SSPMM) might act as a restraint to the ECM market. This motor provides higher efficiency and consumes less energy. The motor helps in doing away with the power conversion process after the motor is started. This saves energy and increases efficiency. SSPMM eliminates the use of electronics and uses coil for any surge in line. However, this technology is expensive.
Axial Fans Market - The global axial fans market is affected negatively as a result of changing raw material cost. The price of metal is volatile at the global level which restricts the growth of the axial fans market. Rising investment in cooling towers from developing economies including China and India is driving the market growth.
Mist Fans Market - One of the key factors driving the global mist fans market is rapidly increasing demand from the construction industry, as the development of residential and non-residential buildings continues to grow at a rapid pace. The increasing government spending on infrastructure and industrialization is anticipated to drive the mist fans market during the forecast period. The construction industry in Asia Pacific is projected to witness significant growth in the near future due to rapid urbanization, growing population, and favorable government plans for infrastructure development in the region.
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