According to the latest report, titled “Ventilation System Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The Ventilation System Market is projected to grow from USD 25.66 billion in 2021 to USD 42.56 billion in 2028 at a CAGR of 7.5% in the 2021-2028 period.
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Ventilation System Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Ventilation System Market.
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A few top players in the industry are–
- UAB KOMFOVENT (Lithuania)
- CaptiveAire Systems (US)
- Greenheck Fan Corporation (US)
- S&P UK Ventilation Systems Ltd. (UK)
- Twin City Fan & Blower (US)
- Johnson Controls (US)
- Honeywell International Inc. (US)
- Mitsubishi Electric Corporation (Japan)
- Nortek Air Solutions (US)
- CENTROTEC SE (Germany)
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Ventilation System Market and the market concentration is described in the report.
On the basis of Geography, the Global Ventilation System Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Ventilation System Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Ventilation System Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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Rising Adoption of Decentralized Ventilation to Propel Market
Climate change is one of the most critical factors influencing the ventilation system market growth. Due to rising temperatures across the globe and unpredictable climatic conditions, several sectors are adopting aeration systems to improve air quality and maintain their indoor climate. Increasing construction projects of residential and commercial buildings are fueling the demand for aeration systems. Decentralized systems have experienced a surge in demand from the residential sector due to their several benefits. Decentralized systems are cost and time-efficient, easy to install, and require minimal maintenance. These factors are likely to complement the growth of ventilation units.
Additionally, government regulations are fueling the product demand. For instance, standards related to indoor air quality improvement passed by the American Society of Heating, Refrigeration, and Air-Conditioning Engineers (ASHRAE), are expected to expand the market growth prominently.
However, these systems’ high operating costs and high maintenance costs are expected to act as a restraint to market growth.
An overview of the Ventilation System Market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
Asia Pacific to Hold Major Market Share
Swift urbanization and growing construction activities in countries such as India, Vietnam, and Indonesia are expected to help Asia Pacific dominate the global ventilation system market share. China is expected to assert regional dominance due to increasing infrastructural development. As per the Council on Tall Buildings and Urban Habitat, beyond 57 skyscrapers were constructed in China in 2019.
The growing number of skyscrapers in major cities like Florida, Miami, and New York, are escalating the ventilation unit demand in the U.S. Additionally, the rising multi-family homes in the region are expected to help North America witness significant growth.
Increasing construction of skyscrapers in the Middle East is expected to drive the market growth in the Middle East & Africa.
Europe’s strict government regulations for emissions and housing projects are expected to propel market growth significantly.
Latin America is anticipated to witness gradual growth due to financial and political uncertainties.
- What is the driving factor for the growth of the Ventilation System Market?
- How will the COVID-19 pandemic impact the demand and consumption of the Ventilation System Market?
- What is the major application area of the Ventilation System Market?
- Who are the Ventilation System Market manufacturers across the globe?
- Which geographical location is dominant in the Ventilation System Market?
- Which are the top industry players in the Ventilation System Market?
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