Rapid urbanization in recent years, has resulted in a healthy demand for ventilation fans on a global scale. This trend is expected to continue through the forecast period (2019-2029). The high numbers of infrastructure projects in North America and the Middle East in commercial, industrial, and residential settings is expected to bolster demand, with support from government initiatives on ventilation and aeration in the years ahead.
The global ventilation fans market is expected to grow by more than 7 % during the forecast period. Increased consumer awareness about people with regards to indoor air quality and the latest tech innovations in ventilation fans contribute to a higher adoption rate, and will influence future developments in the years ahead.
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Key Takeaways of Global Ventilation Fans Market Study
“Increasing infrastructure programs by governing bodies in developing countries boost residential and commercial ventilation activities. These infrastructure development activities with increasing urbanization will bolster the demand in forthcoming years.” says the Fact.MR analyst.
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Performance and Durability Drive Demand for Metal Ventilation Fans
Metal variants of ventilation fans have contributed to a larger revenue share growing 1.8 X, accounting for nearly three quarters of the total revenue. This can be attributed to the first mover factor and higher sturdiness, which bolsters performance and durability for better air circulation. On the other hand, factors such as lower production costs, low weight, and noise reduction, and low power consumption characteristics are driving the adoption of plastic ventilation fans resulting in a higher CAGR, surpassing 7 %.
Find More Valuable Insights on Ventilation Fans Market
Fact.MR, in its new offering, provides a clear analysis of the global ventilation fans market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study provides readers with compelling insights on the ventilation fans market on the basis of product type (axial and centrifugal), Material Type (metal and plastic), deployment configuration (wall-mounted and ceiling mounted), application (industrial, commercial, and residential) and regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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