Ventilation Fan Market Analysis, Size, Share and Growth by 2030

Coverage: Ventilation Fan Market covers analysis By Product Type (Axial Fans, Centrifugal Fans, Propeller Fans); Installation (Wall Mounted, Roof Mounted); Applications (Residential, Commercial, Industrial), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPRE00013816
  • Category : Electronics and Semiconductor
  • Status : Upcoming
  • No. of Pages : 150
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[Research Report] The ventilation fan market is expected to grow from US$ 2.61 billion in 2022 to US$ 4.9 billion by 2030; it is estimated to grow at a CAGR of 8.2% from 2022 to 2030.

Analyst Perspective:

The capacity of the ventilation fan market trend to maintain exceptional indoor air quality by diluting and removing pollutants created inside a space, which is a key contributor to the comfort and health of building occupants, is a major supplier to the comfort and health of the building inhabitants. These solutions help to remove pollutants and bacteria while also reducing odor and moisture. Small apartments have a constrained number of windows, which blocks appropriate air circulation. Additionally, compact floor layouts with inadequate control over specific irritants and more concentrations of pollutants in every room lead to poor air quality in these settings. As a result, exhaust fans are operated to offer enough ventilation. Ventilation fans can assist prevents respiratory illnesses by maintaining a consistent temperature and air quality throughout the space. They help to maintain a healthy indoor environment by removing excess moisture and odors from the surroundings. Therefore, the ventilation fan market has various opportunities to grow due to these factors.

In the ventilation fan market, ventilation fans, also known as exhaust fans, are devices designed to circulate air and improve air quality in enclosed spaces by removing stale air, odors, and pollutants and replacing them with fresh outdoor air. Fans usually create airflow by using an electric motor to turn the fans. The blades draw air from the room and expel it, allowing ventilation. They can be used in rooms where there are no windows or adequate airflow so that fresh air reaches all corners. Fans are often installed in kitchens, bathrooms, and laundry rooms to remove excess moisture, steam, and odors from things like cooking, showering, or drying clothes. Fans help prevent mold, mildew, and condensation from building up, which can cause health problems. Exos fans come in different sizes, capacities, and models to suit different applications. They can be installed on walls, ceilings, or windows according to the specific needs of the room. Some advanced fans may have features such as speed controls, timers, humidity sensors, or energy-saving solutions to improve performance and save energy. Thus, the ventilation fan market is growing.

Ventilation Fan Market Overview:

Ventilation fans draw air from a space; however, they do not expel air outside. These fans cycle existing air back into the space or bring in external air from outside via ducting. Ventilation fans can help reduce energy costs as they circulate clean air throughout space and are more cost-effective as they don't require additional venting components. With all this in mind, it’s clear that understanding how exhaust and ventilation fans differ is essential when selecting a fan suitable for your needs. As the name implies, ventilation fans or roof fans are used to ventilate an industrial or commercial space by providing workers with fresh air in an enclosed area. These fans circulate air from outside through the building, supplying a fresh supply of oxygenated and revitalized air. Ventilation fans are convenient and necessary for optimizing air quality within a workspace. Poor ventilation leads to stagnant air, breathing difficulties, and other health risks, such as dizziness and nausea, which is why ventilation fans play a crucial role in maintaining clean air.

Industrial and manufacturing facilities are prone to a collection of substances that are considered hazardous. From gases and airborne particles to smoke, fumes, and vapors, such environments can be dangerous. Continuous exposure can lead to headaches, eye irritation, chest pains, siderosis, cancer, and pulmonary edema. The importance of safety when working with hazardous chemicals cannot be overstated, and protocols must be followed to ensure no accidental exposures occur. Ensuring adequate ventilation when working with and storing these hazardous materials is paramount to prevent the build-up of dangerous vapors. Inhaling chemical fuels can lead to profound health implications, which is why industrial ventilation exhausts are designed with a vacuum that captures these substances. Therefore, the ventilation fan market growth is increasing significantly.

Additionally, ventilation fans share many characteristics with exhaust fans in terms of removing fumes, smells, and other contaminants. However, they take it one step further by introducing fresh, clean air from the exterior. Ventilation fans can be used industrially, where harmful fumes are produced consistently to improve indoor air quality. This solution provides peace of mind for industrial workers and manufacturers who wish to ensure their space remains clean and healthy for their workers.

Industrial ventilation fans are a cost-effective way for organizations to improve air quality in their workplace. Ventilation fans are an important part of the industrial atmosphere and can be installed quickly at a reasonable price. Once installed, they require minimal maintenance and often only need repairs or servicing as needed. This makes them both cost-effective to install and maintain, allowing organizations to reap the long-term rewards of providing better quality air for their employees. Hence, the ventilation fan market is increasing globally.

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Ventilation Fan Market: Strategic Insights

ventilation-fan-market
Market Size Value inUS$ 2.61 billion in 2022
Market Size Value byUS$ 4.9 billion by 2030
Growth rateCAGR of 8.2% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Ventilation Fan Market Driver:

The Expanding Construction Sector is Driving the Growth of the Ventilation Fan Market Size.

The construction sector is growing worldwide due to increasing residential projects, the liberalization of commercial projects by regulatory bodies, and the financing of larger projects. New York's Hudson Yards will be the largest construction site in American history, according to a release from a regulatory agency. Commercial construction is also increasing thanks to major construction projects, including new campuses for high-tech giants such as Apple Inc., Google, and Amazon, building increased distribution centers and warehouses. Projects in urban areas, such as smart construction and green construction, are also rapidly increasing. The growth of the construction industry leads to the growth of the ventilation fan market. Ventilation fans have become essential equipment in the construction industry. However, the COVID-19 pandemic may have a negative impact on the ventilation fan market, as the pandemic strongly affects the construction industry. Since the construction sector is largely dependent on labor or workers, labor shortage is currently a major problem due to nationwide lockouts in various countries. The construction industry is also not considered an important service sector, and the governments of various countries have not given relief to such works.

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Ventilation Fan Market Analysis of Segments:

The global ventilation fan market report is segmented on the basis of product type, installation, and applications. Based on the product type, the market is segmented into axial fans, propeller fans, and centrifugal fans. Based on the installation, the market is segmented into wall mounted roof mounted. Based on applications, the ventilation fan market share is split between residential, commercial, and industrial. By geography, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

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Ventilation Fan Market Analysis of Regions:

Asia Pacific is estimated to be the fastest growing region in the fan market due to rising disposable income and high standard of living. People are gravitating towards smart and high-tech construction in the Asia-Pacific region, mainly in developing countries. The increase in disposable income will lead to a middle-class population in the area of ​​4,444 inhabitants. People in the region are more conscious about their health, which increases the demand for the ventilators market as they improve the indoor air quality of the building. Fans also help maintain the temperature in the area, which further increases the market in the area.

Additionally, the decline in housing in major cities across the Asia-Pacific region is also a key driver of fan demand. Additionally, growth in Asia Pacific is driven by factors such as greater focus on comfort, quality, and energy efficiency to meet new home standards, which will support growth over the forecast period. In October 2019, Usha International Limited launched the Aeroclean range of dust and oil-resistant exhausts. The fans work specifically for residential purposes. The fans have special lacquered blades that resist oil, dust, and stains to keep the kitchen healthy and hygienic.

Ventilation Fan Market Analysis of Key Players:

Vortice, Panasonic, Exhausto, Zehnder Group, Big Ass Fans, Airmaster, Soler & Palau, Fantech, Xpelair, and Brooklyn Fans are profiled in the ventilation fan market report. These players are focused on continuous market penetration and customer acquisition, aiding in anticipation of a strong global ventilation fan market forecast.

Recent Developments:

The ventilation fan market players regularly adopt inorganic and organic strategies such as mergers and acquisitions to improve their ventilation fan market share. A few recent global ventilation fan market developments are listed below:

  • In November 2022, 'Emb-Papst Group, a manufacturer of motors and fans, announced plans to establish a new production plant in the US, with a US$ 30 Mn investment to produce highly efficient fans and motors. This second factory expansion will strengthen Ebm Papstl's presence in North America for future ventilation fan market growth in sustainable refrigeration, ventilation applications, and air conditioning.
  • In May 2022, 'Johnson Controls invested USD 7.5 million into new automation equipment at Oklahoma's commercial Heat ventilation and air conditioning manufacturing plant. This new equipment will improve capacity while enhancing product quality, safety, and assembly productivity at the 900,000 sq. ft facility, called the Johnson Controls Rooftop Center of Excellence.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, Installation, Applications, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. Delta Electronics, Inc.,
2. Fuji Electric Co., Ltd
3. Greenwood Airvac
4. Mitsubishi Electric Corporation
5. Nortek Air Solutions, LLC
6. Panasonic Corporation
7. Polypipe Limited
8. Systemair AB
9. Titon
10. Vent-Axia

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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