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

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format

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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.

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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 310
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.

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

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Hey there! In 2023, ERVs were a big hit, bringing in $11.6 billion in revenue. And guess what? They're predicted to grow even more, reaching $20.8 billion by 2032. Why the buzz? ERVs just keep getting better and better. They're now even more efficient at exchanging heat, have smarter controls, and can hook up with those fancy smart building systems. This means you get fresher air, more comfort, and less energy waste. And let's not forget the biggieERVs keep the air inside healthier. They bring in fresh air and take out the stale stuff, which is especially important in places like hospitals, schools, and your own home. So, if you're looking for ways to make your indoor spaces more comfortable and healthy, ERVs are definitely worth checking out.

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In 2023, about 55% of the ventilation market was used by businesses. By 2032, this is expected to rise to 56%. Businesses must meet strict rules for energy efficiency, protecting the environment, and the air quality inside (IAQ). To meet these requirements, businesses need to put in place modern ventilation systems that make IAQ better and use less energy. This is why there is such a big demand in the market. Commercial buildings must meet strict environmental and energy-efficiency standards to get green building certifications like LEED (Leadership in Energy and Environmental Design). Developers, investors, and tenants are asking for more ventilation systems that make energy use more efficient and the air inside better. This is being done to meet these goals.

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Imagine the Asia Pacific region as a huge slice of the world's ventilation market pie. In 2023, it gobbled up almost 4 out of every 10 pieces. And get this, experts predict it'll keep growing like a giant by nearly 6.3% every year from 2024 to 2032. Why the surge? People in these parts are waking up to the nasty health effects of stuffy, polluted indoor air. Plus, governments are stepping in with stricter rules to keep our lungs happy. And let's not forget the building boom in countries like China, India, and Southeast Asia. As new homes, offices, and factories pop up, the demand for ways to keep the air fresh and clean skyrockets.

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

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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

 

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