Ventilation Market Size - By Product (ERV (Energy Recovery Ventilator), HRV (Heat Recovery Ventilator)), By Application (Residential, Commercial, Industrial), By Installation Type (New Construction, Retrofit) By Distribution Channel (Direct, Indirect) & Forecast, 2024 - 2032

Ventilation Market Size

Ventilation Market was valued at around USD 26.4 billion in 2023 and is estimated to register a CAGR of around 6% between 2024 and 2032.
 

A growing number of people are becoming aware of the negative health effects of indoor air quality, which is driving the ventilation industry toward products that not only circulate air but also filter contaminants and maintain ideal humidity levels. In industries where employee productivity and well-being are crucial, like healthcare, education, and commercial buildings, this tendency is especially noticeable.
 

Building owners find the initial costs associated with advanced ventilation systems, such as energy recovery ventilators (ERVs) and heat recovery ventilators (HRVs), to be unaffordable. Adoption may be slowed by this cost barrier, especially in regions where financial constraints are an issue. It can be difficult and disruptive to retrofit existing buildings with modern ventilation systems, particularly when those systems call for significant ducting alterations or structural adjustments.
 

Building owners might be discouraged from upgrading to more energy-efficient ventilation systems by this complication. It might be difficult to meet the various and changing regulatory requirements for environmental sustainability, indoor air quality (IAQ), and energy efficiency. Regional variations in compliance requirements may call for ongoing modifications or alterations to ventilation systems, which would increase complexity and expense.
 

Ventilation Market Trends

Smart ventilation systems are examples of technological advances that are becoming more and more popular. These systems modify airflow based on occupancy and air quality sensors. Building owners who want to minimize operating expenses and improve comfort levels will find these systems intriguing because they not only improve energy efficiency but also provide real-time monitoring and control capabilities.
 

As an illustration, Honeywell provides indoor air quality (IAQ) sensors, which help meet the BMS's requirement for detecting these contaminants and putting the best ventilation plans in place. IAQ sensors will contribute to bettering the building's air quality and making the living quarters healthier for everyone.  These sensors can detect particulates that are PM1.0, PM2.5, PM4.0, or PM10.
 

Ventilation Market Analysis

In 2023, the ERV segment accounted for revenue of around USD 11.6 billion and is expected to reach USD 20.8 billion by 2032. Continuous advancements in ERV technology improve its performance and suitability in a variety of building types and climates. Examples of these advancements include enhanced heat exchange efficiency, sophisticated controls, and integration with smart building systems. These developments, which provide improved functionality and user flexibility, further propel market expansion. ERVs' constant supply of fresh air contributes to the upkeep of ideal interior conditions, promoting the comfort, productivity, and health of occupants. This advantage is especially important in settings like hospitals, schools, workplaces, and residential buildings where indoor air quality is vital.
 

In 2023, the commercial segment held around 55% share of around ventilation market and will hold 56% revenue share by 2032. Strict regulations apply to commercial buildings in terms of energy efficiency, environmental sustainability, and indoor air quality (IAQ). Installing cutting-edge ventilation systems that improve IAQ and lower energy use is frequently required to comply with these standards, which fuels market demand. Commercial buildings must fulfill strict standards for sustainability and energy efficiency to pursue green building certifications, such as LEED (Leadership in Energy and Environmental Design). Development companies, investors, and tenants are calling for more and more ventilation systems that improve energy efficiency and indoor air quality to achieve these goals.
 

Asia Pacific region held about 39% share of the market share of the ventilation market in 2023 and is estimated to register a CAGR of around 6.3% between 2024 and 2032. Asia Pacific is seeing a surge in the use of innovative ventilation solutions due to increased awareness of the negative health effects of indoor pollution and tighter regulations. The market is rising as governments and building owners prioritize IAQ improvements more and more. Strong infrastructural development and economic growth are being seen in nations like China, India, and Southeast Asia. The need for ventilation solutions and HVAC systems in the commercial, industrial, and residential sectors is being driven by this increase.
 

Country-Level Analysis

The U.S. dominated the North America ventilation market with revenue of over USD 5.8 billion in 2023 and is expected to grow at a CAGR of 6.1% through 2032. The United States of America possesses well-defined regulatory guidelines for energy efficiency and indoor air quality (IAQ), which are implemented by organizations like the Department of Energy (DOE) and the Environmental Protection Agency (EPA). The need for cutting-edge ventilation systems that meet ENERGY STAR, LEED (Leadership in Energy and Environmental Design), and ASHRAE (American Society of Heating, Refrigerating, and Air-Conditioning Engineers) standards is fueled by these requirements.
 

Germany dominated the Europe ventilation market with revenue of around USD 1.3 billion in 2023 and is expected to grow at a CAGR of 6.2% from 2024 to 2032. Ventilation system innovation in HVAC technologies is well-known in Germany. German manufacturers create cutting-edge ventilation solutions that maximize system performance and indoor air quality (IAQ) by combining smart controls, IoT connections, and energy-efficient components. There are chances to upgrade ventilation systems in existing buildings due to urbanization and continuous building renovations in cities like Hamburg, Munich, and Berlin. Energy-efficient solutions are frequently given priority in retrofit projects to fulfill current regulations and enhance building efficiency.
 

China dominated the Asia Pacific ventilation market with revenue of around USD 3.4 billion in 2023 and is expected to grow at a CAGR of 6.6% from 2024 to 2032. Chinese enterprises and establishments engage in active collaboration with global partners to embrace optimal methodologies and benchmarks in the field of ventilation technology. There is a significant need for ventilation systems in residential, commercial, and industrial buildings in China due to the country's rapid urbanization and current construction boom. Modern ventilation methods can be integrated to improve indoor air quality (IAQ) and energy efficiency during the construction of new buildings and urban infrastructure.
 

Ventilation Market Share

The ventilation industry is fragmented, with several regional companies operating on a global scale. In 2023, the Carrier Corporation, Daikin Industries, LG Electronics, Toshiba Corporation, and Trane Technologies led the market. To expand their customer base, broaden their product offerings, and establish a stronger foothold in the market, these corporations strategically deploy mergers, acquisitions, partnerships, and facility expansions. They also leverage their vast distribution networks and resources to investigate new markets.
 

Ventilation Market Share

Major players operating in the ventilation industry are:

• ABB
• Broan-NuTone
• Carrier Corporation
• Daikin Industries
• Greenheck
• Honeywell International
• Johnson Controls
• Lennox International
• Mitsubishi Electric Corporation
• Nortek Global HVAC
• Panasonic Corporation
• Titus HVAC
• Trane Technologies
• Vent-Axia
• Zehnder Group
   

Ventilation Industry News

• In May 2023, Trane Technologies acquired MTA S.p.A (MTA), a leading industrial process cooling technology business, which brought complementary, high-performing solutions to Trane’s comprehensive Commercial HVAC product and services portfolio.
   
• In May 2021, the Company Johnson Controls completed its acquisition of Silent-Aire, a prominent player in the global market for hyperscale data center cooling and modular critical infrastructure solutions.
   

This ventilation market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and volume (Million Units) from 2021 to 2032, for the following segments:

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Market, By Product Type

• ERV (Energy Recovery Ventilator)
  • Counterflow core
  • Crossflow core
  • Rotary wheel 
• HRV (Heat Recovery Ventilator)
• Other ventilation systems

Market, By Application

• Residential
• Commercial
  • Offices
  • Schools
  • Healthcare Facilities
  • Others 
• Industrial

Market, By Installation Type

• New Construction
• Retrofit

Market, By Distribution Channel

• Direct
• Indirect

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Malaysia
  • Indonesia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA