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.
More and more people are learning about how bad indoor air quality can be for their health. This is pushing the ventilation sector to make solutions that not only move air around but also clean it and keep the humidity at the right level. This trend is especially clear in fields where the health and productivity of workers are very important, such as healthcare, education, and commercial buildings.
| 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 | 310 |
| Tables, Charts & Figures | 365 |
| Segments covered | Product Type, Application, Installation Type, Distribution Channel, Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Building owners can't afford the high prices of modern ventilation systems like energy recovery ventilators (ERVs) and heat recovery ventilators (HRVs). This economic barrier could make it harder for people to adopt, especially in areas where money is tight. Adding modern ventilation systems to old buildings can be hard and cause problems, especially when those systems need big changes to the ductwork or the building's structure.
This problem could make building owners less likely to upgrade to ventilation systems that use less energy. It could be hard to keep up with the different and changing rules for energy efficiency, indoor air quality (IAQ), and environmental sustainability. Changes or modifications to ventilation systems may need to be made on a regular basis because of differences in compliance standards in different regions. This would add to the cost and complexity.
Ventilation Market Trends
Smart ventilation systems are one example of a new technology that is getting more and more widespread. These systems change the flow of air based on sensors that check the quality of the air and how many people are in the room. These systems are interesting to building owners who want to lower their running costs and make their buildings more comfortable because they not only make energy consumption more efficient but also let you monitor and control things in real time.
For example, Honeywell makes indoor air quality (IAQ) sensors that enable the BMS find these pollutants and come up with the optimum ventilation solutions. IAQ sensors will help improve the air quality in the building and make it healthier for everyone who lives there. These sensors can find particles that are PM1.0, PM2.5, PM4.0, or PM10.
Ventilation Market Analysis
Hello! In 2023, ERVs were quite popular and made $11.6 billion. And you know what? By 2032, they are expected to expand even more, reaching $20.8 billion. What's all the fuss about? ERVs are growing better and better all the time. They can now connect to those cool smart building systems, have smarter controls, and are even better at moving heat around. This implies that you will have more comfortable air, less wasted energy, and fresher air. And we can't forget the most important thingERVs make the air inside healthier. They bring in new air and get rid of the old air. This is very vital in areas like hospitals, schools, and your own home. So, if you want to make the inside of your home more comfortable and healthful, you should absolutely look into ERVs.
In 2023, companies made up around 55% of the market for ventilation. This is anticipated to go up to 56% by 2032. Businesses have to follow tight standards about how to save energy, protect the environment, and keep the air inside (IAQ) clean. To satisfy these standards, businesses need to install new ventilation systems that use less energy and improve IAQ. This is why there is so much demand in the market. To acquire green building certifications like LEED (Leadership in Energy and Environmental Design), commercial buildings must meet tight standards for energy efficiency and the environment. More developers, investors, and renters are looking for ventilation systems that consume less energy and make the air inside nicer. This is being done to reach these goals.
Think of the Asia Pacific region as a big piece of the world's ventilation market pie. It ate up roughly 4 out of every 10 pieces in 2023. And get thisscientists think it will keep expanding like a behemoth by around 6.3% every year from 2024 to 2032. Why the rise? People in these areas are starting to realize how bad for their health it is to breathe in dirty, stifling air indoors. Plus, countries are making the restrictions harsher to protect our lungs. And we shouldn't forget about the building boom in places like China, India, and Southeast Asia. As more homes, businesses, and industries are built, the need for techniques to keep the air clean and fresh grows quickly.
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 is the star player in Europe's ventilation market, ruling the roost with a cool 1.3 billion USD in revenue in 2023. And it's not just a one-season wonder—experts predict it'll keep growing at a steady pace of 6.2% from 2024 to 2032. Germany's got a knack for innovation when it comes to ventilation systems, especially in heating, ventilation, and air conditioning (HVAC) tech. Their clever manufacturers know how to combine smart controls, internet-of-things (IoT) connections, and energy-saving parts to create top-notch solutions that keep the air inside buildings clean and comfy while also making the systems run like a dream. With cities like Hamburg, Munich, and Berlin constantly transforming and buildings getting makeovers all the time, there are plenty of opportunities to give existing ventilation systems a much-needed upgrade. And because everyone's aiming to be more energy-efficient these days, retrofit projects often put energy-saving solutions at the top of the to-do list, making buildings work better and saving money.
China has become a powerhouse in the Asia Pacific ventilation market, raking in a massive $3.4 billion in 2023. And it's only expected to keep growing, with a projected CAGR of 6.6% from 2024 to 2032. Chinese companies are teaming up with top-notch global players to learn the latest tricks of the trade in ventilation technology. With all the building going on in China, there's a huge demand for ventilation systems in homes, offices, and factories. This is especially important because China's cities are getting bigger and more crowded, which can lead to air pollution and health problems. The good news is that new ventilation systems are being designed to not only improve the air we breathe but also save energy. So, as China continues to build, it's embracing these cutting-edge technologies to keep its people healthy and comfortable.
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
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
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