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Ventilation Market Size

Report ID: GMI10269
Published Date: Jul 2024
Report Format: PDF

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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.

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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.

Ventilation Market Report Attributes
Report Attribute	Details
Base Year:	2023
Ventilation Market Size in 2023:	USD 26.4 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6%
2032 Value Projection:	USD 44.3 Billion
Historical Data for:	2021 - 2023
No. of Pages:	152
Tables, Charts & Figures:	365
Segments covered:	Product Type, Application, Installation Type, Distribution Channel, Region
Growth Drivers:	Indoor air quality (IAQ) concerns Technological advancements Climate change adaptation
Pitfalls & Challenges:	High initial investment costs

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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.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of ventilation was reached USD 26.4 billion in 2023 and is expected to register 6% CAGR from 2024 to 2032, owing to the growing number of people becoming aware of the negative health effects of indoor air quality worldwide.

Ventilation industry from the ERV (energy recovery ventilator) segment is likely to exceed USD 20.8 billion by 2032, due to continuous advancements in ERV technology to improve its performance and suitability in a variety of building types and climates.

Asia Pacific ventilation industry is expected to register 6.3% CAGR from 2024 to 2032, due to increased awareness of the negative health effects of indoor pollution and tighter regulations in the region.

ABB, Greenheck, Honeywell International, Johnson Controls, Lennox International, Mitsubishi Electric Corporation, Nortek Global HVAC, Panasonic Corporation, Titus HVAC, Trane Technologies, Vent-Axia, and Zehnder Group, are some of the major ventilation companies worldwide.