Ventilation Fans Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Industry Developments Driving Evolution in Ventilation Fans Market
The drive for constant product advancements ventilation fans market has stemmed from constantly growing trend of energy efficient ventilation systems. Ventilation fans find growing use in range of buildings and infrastructure, notably including residential, commercial, and industrial buildings. The demand for products has risen in commercial spaces such as in malls, supermarkets, and warehouses.
New technologies have come to fore and a few of them have gained noticeable adoption, an example being variable air volume (VAV) ventilation system. Stridently, design characteristics of products in the ventilation fans market have evolved in line with technological advancements in HVAC systems. Motors and control systems have seen rapid advancements, and has helped manufacturers unveil innovative products to meet the emerging requirements in industrial applications.
Some of the key end-use industries in the ventilation fans market are oil and gas, automotive, food & beverages processing, and chemical. The study presents an in-depth assessment of various industry trends and impact of regulations pertaining to the air quality in external environment on the evolution of the ventilation fans market. The research authors also strive to offer evidence-based insights on imminent investment pockets, evolving regulatory landscape in key regional markets, and strategic frameworks gaining traction among players after the onset of Covid-19 pandemic.
Trends to Propel Investments in Ventilation Fans Market: Key Growth Dynamics
Players in the ventilation fans market have gained substantial profitable opportunities from the rise in sales of axial fans and centrifugal fans. Advancements in HVAC systems have helped boost the capacity of these product categories. In particular, axial fans are used in cooling towers, air conditioning condensers, and combustion engine cooling systems.
Strides made in commercial and industrial sectors has spurred the demand for HVAC equipped with ventilation fans. In particular, emerging HVAC requirements in the oil and gas sector has been driving product innovations. The demand for ventilation on demand (VOD) systems has led manufacturers integrated HVAC with advanced software apart from advanced electronics and electrical components in ventilation fans. VOD systems have also seen expanding avenue for innovations. An example is the incorporation of IoT and other confected systems. Ventilation fans integrated with such systems are growing in demand especially among commercial end users.
Growing shift toward optimization of operation expense (OPEX) in power and mining industries will spur the demand for such solutions in the ventilation fans market in the past few years. The uptake in the mining sector is a growing trend, boosting the growth of the ventilation fans market.
Ventilation Fans Market: Key Investment Pockets and Competitive Scenario
Manufacturers and developers of HVAC are focusing on unveiling products to the ventilation fans market to meet stringent quality control. A case in point is growing launch of ventilation fans by companies such as Delta which meet ENERGY STAR certifications.
Growing number of players are offering multiple safety features in addition to energy-saving features to attract customers in the ventilation fans market. Manufacturers adopt advanced motors such as brushless ones to control the noise features and improve durability of product. Top players seek a competitive edge by increasing green products in their product portfolio.
Some of the key players in the ventilation fans market are:
Ventilation Fans Market: Promising Regions
Asia Pacific has emerged as a highly lucrative market over the past few years. The sheer pace of industrialization and commercialization across the developing economies, notably India and China, is a key trend that has spurred vast revenue streams to players in the ventilation fans market. A growing number of players are eyeing opportunities in this regional markets. China being a major manufacturing hub in Asia has conferred vast lucrative gains to manufacturers in the ventilation fans market.
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