Ventilation Fans Market - Forecasts from 2023 to 2028

The global ventilation fans market is estimated to grow at a CAGR of 7.89% during the forecast period.

A ventilation fan is installed to eliminate stale, sticky, or dirty air, like in the kitchen or bathroom. These fans clear the air of unpleasant odors, moisture, smoke, and other impurities. The demand for ventilation fans is rising in the industrial, residential, and commercial sectors, fuelling the overall market growth. The trend toward smaller apartment sizes in major cities across the globe is having a significant impact on the demand for ventilator fans as the ventilation fans serve to remove the stale, humid, or unclean air from the kitchen and bathroom area. Additionally, this stops mold from growing in the region, boosting the global ventilation fans market growth.

The increasing industrial investment is augmenting the market growth.

The growing industrial production and rising industrial construction investment will boost the demand for ventilation fans, propelling the overall market growth. In April 2023, the U.S. Census Bureau reported the total industrial construction spending rose from US$91,664 million in February 2022 to US$140,667 million in February 2023, showing an increase of 53.5 % in construction spending. According to the National Bureau of Statistics of China, manufacturing production in China averaged 6.81 percent from 2013 to 2022, peaking at 39.50 percent in January 2021. In the long term, China’s manufacturing production will average 4.10 percent in 2024. This shows that the growing industrial construction investment and production will propel the global ventilation fans market growth during the forecasted period.

Growing commercial construction projects is augmenting the investments in ventilation fans. 

The increasing number of residential building and infrastructure projects in various nations is one of the key factors driving the global ventilation fans market growth. In 2019, according to the National Development and Reform Commission of China, 26 infrastructure projects with completion dates projected for 2023 were authorized in the country. According to the U.S. Census Bureau, commercial construction investments in the US increased from $104,434 million in February 2022 to $126,870 million in February 2023, showing a 21.5 % increase rate of investments. In February 2023, China established a pilot program to encourage private investment in the real estate sector to raise at least 30 million yuan ($4.37 million). The program will fund residential and commercial housing and infrastructural improvements. The rapid increase of residential and commercial investments due to rising infrastructure projects is increasing the electricity demand, accelerating the growth of global ventilation fans during the forecasted period.

The Asia Pacific region will dominate the market throughout the forecast period. 

Throughout the projection period, the Asia-Pacific region is anticipated to see growth in the ventilation fans market due to the governments in the Asia-Pacific region actively encouraging residential construction investments. The expansion of ventilation fans in the region is anticipated to be fuelled by several government flagship initiatives like India’s Housing for Everyone, Atal Mission for Urban Rejuvenation and Transformation (AMRUT), Make in India, and Electricity for All. According to Invest India, by 2025, India's construction market is anticipated to be worth $1.4 Tn. In India, urbanization is anticipated to reach 40% of the population by 2030 (up from 33% presently), and there will be a need for 25 Mn extra mid-range and inexpensive housing units. In 2021, according to Infrastructure Australia, in the next ten years, an estimated $290 billion will be invested, almost tripling in the following three years, in residential, civil, and commercial construction. It will have a tremendous infrastructural expenditure, creating demand for ventilation fans in buildings and industries for safety purposes.

Market Developments:

• In November 2022,the 'Ebm-Papst Group' the world's largest maker of motors and fans, revealed plans to create a new production unit in the United States with a USD 30 million investment to produce industrial fans market development in sustainable refrigeration, ventilation applications, and air conditioning.
• In May 2022,Oklahoma's commercial HVAC manufacturing facility, "Johnson Controls," invested USD 7.5 million in new automation equipment. This new machinery will increase capacity at the 900,000-square-foot facility known as the Johnson Controls Rooftop Center of Excellence, enhancing product quality, safety, and assembly productivity.

Market Segmentation:

By Ventilation Type

• Exhaust Ventilation
• Supply Ventilation
• Smoke Ventilation
• Others

By Fan Type

• Axial
• Centrifugal

By End-User

• Residential
• Commercial/ Industrial

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• UK
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Others