This report describes and explains the ventilation system market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
The global ventilation system market reached a value of nearly $28,487.6 million in 2022, having grown at a compound annual growth rate (CAGR) of 9.0% since 2017. The market is expected to grow from $28,487.6 million in 2022 to $42,699.4 million in 2027 at a rate of 8.4%. The market is then expected to grow at a CAGR of 10.9% from 2027 and reach $71,544.4 million in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets, boost in construction spending, supportive government initiatives and an increase in infrastructure investment.
Going forward, a rise in concerns regarding air quality, rising urbanization and growth of residential buildings will drive the growth. Factors that could hinder the growth of the ventilation system market in the future include a shortage of skilled workforce.
The ventilation system market is segmented by product into axial and centrifugal fans, recovery ventilation systems and other products. The recovery ventilation systems market was the largest segment of the ventilation system market segmented by product, accounting for 49.1% of the total in 2022. Going forward, the axial and centrifugal fans segment is expected to be the fastest growing segment in the ventilation system market segmented by product, at a CAGR of 8.7% during 2022-2027.
The ventilation system market is segmented by type into wall-mount type, ceiling-mount type and cabinet-mount type. The ceiling-mount type market was the largest segment of the ventilation system market segmented by type, accounting for 48.2% of the total in 2022. Going forward, the ceiling-mount type segment is expected to be the fastest growing segment in the ventilation system market segmented by type, at a CAGR of 8.7% during 2022-2027.
The ventilation system market is segmented by application into residential and non-residential. The non-residential market was the largest segment of the ventilation system market segmented by application, accounting for 61.9% of the total in 2022. Going forward, the non-residential segment is expected to be the fastest growing segment in the ventilation system market segmented by application, at a CAGR of 8.7% during 2022-2027.
Asia Pacific was the largest region in the ventilation system market, accounting for 47.1% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the ventilation system market will be South America and Asia Pacific where growth will be at CAGRs of 9.2% and 9.0% respectively. These will be followed by Middle East and Africa where the markets are expected to grow at CAGRs of 8.6% and 8.5% respectively.
The ventilation system market is fragmented, with a large number of small players. The top ten competitors in the market made up to 26.85% of the total market in 2021. Panasonic was the largest competitor with 6.33% share of the market, followed by Daikin Industries Ltd with 4.91%, Carrier with 3.82%, Mitsubishi Electric with 3.18%, LG Electronics with 2.83%, Midea Group Co., Ltd. with 2.59%, Johnson Controls with 1.44%, Twin City Fan and Blower with 0.71%, Greenheck Fan Corporation with 0.55%, and Honeywell International Inc. with 0.50%.
The top opportunities in the ventilation system market segmented by product will arise in the recovery ventilation systems segment, which will gain $6,823.6 million of global annual sales by 2027. The top opportunities in the ventilation system market segmented by type will arise in the ceiling-mount type segment, which will gain $7,073.8 million of global annual sales by 2027. The top opportunities in the ventilation system market segmented by application will arise in the non-residential segment, which will gain $9,117.1 million of global annual sales by 2027. The ventilation system market size will gain the most in China at $4,180.1 million.
Market-trend-based strategies for the ventilation system market include focus on company expansion, net zero emissions, partnerships and collaborations, developing innovative products, investing in technologies such as artificial intelligence (AI) and mergers and acquisitions.
Player-adopted strategies in the ventilation system market include focus on providing comfortable and healthy indoor environments for customers through business expansions, enhancing product offering for commercial and industrial customers through strategic acquisitions and enhancing business operations through the launch of new products.
To take advantage of the opportunities, the publisher recommends the ventilation system companies to focus on artificial intelligence-based ventilation systems, increase focus on net zero emissions, focus on technological advancements, focus on increasing production capacities, expand in emerging markets, continue to focus on developed markets, focus on partnerships and collaborations, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and continue to target fast-growing applications.
The global ventilation system market reached a value of nearly $28,487.6 million in 2022, having grown at a compound annual growth rate (CAGR) of 9.0% since 2017. The market is expected to grow from $28,487.6 million in 2022 to $42,699.4 million in 2027 at a rate of 8.4%. The market is then expected to grow at a CAGR of 10.9% from 2027 and reach $71,544.4 million in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets, boost in construction spending, supportive government initiatives and an increase in infrastructure investment.
Going forward, a rise in concerns regarding air quality, rising urbanization and growth of residential buildings will drive the growth. Factors that could hinder the growth of the ventilation system market in the future include a shortage of skilled workforce.
The ventilation system market is segmented by product into axial and centrifugal fans, recovery ventilation systems and other products. The recovery ventilation systems market was the largest segment of the ventilation system market segmented by product, accounting for 49.1% of the total in 2022. Going forward, the axial and centrifugal fans segment is expected to be the fastest growing segment in the ventilation system market segmented by product, at a CAGR of 8.7% during 2022-2027.
The ventilation system market is segmented by type into wall-mount type, ceiling-mount type and cabinet-mount type. The ceiling-mount type market was the largest segment of the ventilation system market segmented by type, accounting for 48.2% of the total in 2022. Going forward, the ceiling-mount type segment is expected to be the fastest growing segment in the ventilation system market segmented by type, at a CAGR of 8.7% during 2022-2027.
The ventilation system market is segmented by application into residential and non-residential. The non-residential market was the largest segment of the ventilation system market segmented by application, accounting for 61.9% of the total in 2022. Going forward, the non-residential segment is expected to be the fastest growing segment in the ventilation system market segmented by application, at a CAGR of 8.7% during 2022-2027.
Asia Pacific was the largest region in the ventilation system market, accounting for 47.1% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the ventilation system market will be South America and Asia Pacific where growth will be at CAGRs of 9.2% and 9.0% respectively. These will be followed by Middle East and Africa where the markets are expected to grow at CAGRs of 8.6% and 8.5% respectively.
The ventilation system market is fragmented, with a large number of small players. The top ten competitors in the market made up to 26.85% of the total market in 2021. Panasonic was the largest competitor with 6.33% share of the market, followed by Daikin Industries Ltd with 4.91%, Carrier with 3.82%, Mitsubishi Electric with 3.18%, LG Electronics with 2.83%, Midea Group Co., Ltd. with 2.59%, Johnson Controls with 1.44%, Twin City Fan and Blower with 0.71%, Greenheck Fan Corporation with 0.55%, and Honeywell International Inc. with 0.50%.
The top opportunities in the ventilation system market segmented by product will arise in the recovery ventilation systems segment, which will gain $6,823.6 million of global annual sales by 2027. The top opportunities in the ventilation system market segmented by type will arise in the ceiling-mount type segment, which will gain $7,073.8 million of global annual sales by 2027. The top opportunities in the ventilation system market segmented by application will arise in the non-residential segment, which will gain $9,117.1 million of global annual sales by 2027. The ventilation system market size will gain the most in China at $4,180.1 million.
Market-trend-based strategies for the ventilation system market include focus on company expansion, net zero emissions, partnerships and collaborations, developing innovative products, investing in technologies such as artificial intelligence (AI) and mergers and acquisitions.
Player-adopted strategies in the ventilation system market include focus on providing comfortable and healthy indoor environments for customers through business expansions, enhancing product offering for commercial and industrial customers through strategic acquisitions and enhancing business operations through the launch of new products.
To take advantage of the opportunities, the publisher recommends the ventilation system companies to focus on artificial intelligence-based ventilation systems, increase focus on net zero emissions, focus on technological advancements, focus on increasing production capacities, expand in emerging markets, continue to focus on developed markets, focus on partnerships and collaborations, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and continue to target fast-growing applications.
Table of Contents
1. Executive Summary2. Table Of Contents3. List Of Figures4. List Of Tables5. Report Structure18. Competitive Landscape and Company Profiles
6. Introduction And Market Characteristics
7. Major Market Trends
8. Global Market Size and Growth
9. Global Ventilation System Market Segmentation
10. Ventilation System Market, Regional and Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Ventilation System Market, Conclusions And Recommendations
23. Appendix
Executive Summary
Ventilation System Global Market Opportunities And Strategies To 2032 provides the strategists; marketers and senior management with the critical information they need to assess the global ventilation system market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
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- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
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Description:
Where is the largest and fastest growing market for ventilation system? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The ventilation system market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider ventilation system market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics
- Key Trends
- Global Market Size and Growth
- Regional Analysis
- Market Segmentation
- Regional Market Size and Growth
- Competitive Landscape
- Key Mergers and Acquisitions
- Market Opportunities And Strategies
- Conclusions And Recommendations
- Appendix
Scope:
Markets Covered:
1) By Product: Axial And Centrifugal Fans; Recovery Ventilation Systems; Other Products2) By Type: Wall-Mount Type; Ceiling-Mount Type; Cabinet-Mount Type
3) By Application: Residential; Non-Residential
Companies Mentioned: Panasonic; Daikin Industries Ltd; Carrier; Mitsubishi Electric; LG Electronics
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; ventilation system indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Panasonic
- Daikin Industries Ltd
- Carrier
- Mitsubishi Electric
- LG Electronics
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 291 |
Published | May 2023 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 28487.6 Million |
Forecasted Market Value ( USD | $ 71544.4 Million |
Compound Annual Growth Rate | 9.6% |
Regions Covered | Global |