Global Ventilation Fans Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Ventilation Type (Exhaust Ventilation, Supply Ventilation, Smoke Ventilation, Others), By Fan Type (Axial, Centrifugal), By End-User (Residential, Commercial/ Industrial), And By Geography - Forecasts From 2023 To 2028

A ventilation fan is installed in a room to get rid of stale, sticky, or dirty air, like in the kitchen or bathroom. These fans clear the air of unpleasant odors, moisture, smoke, and other impurities.  The demand for ventilation fans is rising in the industrial, residential, and commercial sectors, which is fuelling the overall market growth. The trend toward smaller apartment sizes in major cities across the globe is having a significant impact on the demand for ventilator fans as the ventilation fans serve to remove the stale, humid, or unclean air from the kitchen and bathroom area. Additionally, this stops mold from growing in the region which tends to boost the global ventilation fans market growth.

The increasing industrial investment will boost the market growth

The growing industrial production and rising industrial construction investment will boost the demand for ventilation fans thereby propelling the overall market growth. In April 2023, the U.S. Census Bureau reported the total industrial construction spending rose from US$91,664 million in February 2022 to US$140,667 million in February 2023 showing an increase of 53.5 % in construction spending. According to the National Bureau of Statistics of China, manufacturing production in China averaged 6.81 percent from 2013 to 2022, peaking at 39.50 percent in January 2021 and in the long-term, China’s manufacturing production is expected to average 4.10 percent in 2024. This shows that the growing industrial construction investment and production will propel the global ventilation fans market growth during the forecasted period.

Growing commercial construction projects will boost the market growth

The increasing number of residential building and infrastructure projects in various nations is one of the key factors driving the global ventilation fans market growth. In 2019, according to the National Development and Reform Commission of China, 26 infrastructure projects with completion dates projected for 2023 were authorized in the country. According to the U.S. Census Bureau, commercial construction investments in the US increased from $104,434 million in February 2022 to $126,870 million in February 2023, showing a 21.5 % increase rate of investments.  In February 2023, China established a pilot program to encourage private investment in the real estate sector, to raise at least 30 million yuan ($4.37 million) which the program will fund residential and commercial housing, as well as infrastructural improvements. The rapid increase of residential and commercial investments due to rising infrastructure projects is increasing the electricity demand which will boost the global ventilation fans market growth during the forecasted period

During the forecast period, the Asia-Pacific region will dominate the market

Throughout the projection period, the Asia-Pacific region is anticipated to see growth in the ventilation fans market as a result of the governments in the Asia-Pacific region actively encouraging residential construction investments. The expansion of ventilation fans in the region is anticipated to be fuelled by several government flagship initiatives like India’s Housing for Everyone, Atal Mission for Urban Rejuvenation and Transformation (AMRUT), Make in India, and Electricity for All. According to Invest India, by 2025, it is anticipated that India's construction market would be worth $1.4 Tn. In India, urbanization is anticipated to reach 40% of the population by 2030 (up from 33% presently), and there will be a need for 25 Mn extra mid-range and inexpensive housing units. In 2021, according to Infrastructure Australia, in the next ten years, an estimated $290 billion will be invested, almost tripling in the following three years in residential, civil, and commercial construction, it will have a tremendous infrastructural expenditure, which will create demand for ventilation fans in buildings and industries for the safety purpose thereby propelling the ventilation fan market growth.

Market Key Developments.

• In November 2022, the 'Ebm-Papst Group' the world's largest maker of motors and fans, revealed plans to create a new production unit in the United States with a USD 30 million investment to produce industrial fans market development in sustainable refrigeration, ventilation applications, and air conditioning.
• In May 2022, Oklahoma's commercial HVAC manufacturing facility, "Johnson Controls" invested USD 7.5 million in new automation equipment. At the 900,000-square-foot facility known as the Johnson Controls Rooftop Center of Excellence, this new machinery will increase capacity while enhancing product quality, safety, and assembly productivity.

Segmentation

• By Ventilation Type
  • Exhaust Ventilation
  • Supply Ventilation
  • Smoke Ventilation
  • Others
• By Fan Type
  • Axial
  • Centrifugal
• By End-User
  • Residential
  • Commercial/ Industrial
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    •  Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Others