Mexico Smart Ventilation Fans Market Size By CFM(<110 CFM, 110 CFM to 200 CFM, and >200 CFM), By Competitive Landscape And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Mexico Smart Ventilation Fans Market Size By CFM(<110 CFM, 110 CFM to 200 CFM, and >200 CFM), By Competitive Landscape And Forecast
Mexico Smart Ventilation Fans Market Size And Forecast
Mexico Smart Ventilation Fans Market size was valued at USD 2.18 Million in 2021 and is projected to reach USD 4.78 Million by 2030, growing at a CAGR of 9.59% from 2023 to 2030.
The rapidly growing heating, ventilation, and air conditioning (HVAC) industry are expected to drive the demand for ventilation equipment market. The Global Mexico Smart Ventilation Fans Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Mexico Smart Ventilation Fans Executive Summary
The number of residential units is expected to increase with sufficient space for new developments. As the population grows, investments in infrastructure development increase. Therefore, the demand for new and smart ventilation systems is growing. The Mexican market is less tapped when compared to other North America economies such as United States and Canada. This shows, huge growth potential for the smart ventilation fans across the nation.
The rapidly growing heating, ventilation, and air conditioning (HVAC) industry are expected to drive the demand for ventilation equipment market. Currently, significant investment is being made in Mexico to develop infrastructure to match the growth rate of other mature industries. This is pushing the sales of ventilation fans market.
The Mexicansmart ventilation fans market experienced deep impact of the COVID outbreak.The outbreak hampered the overall nation’s GDP and resulted into decline of industry, lowered sales of HVAC system which in turn, declined the sales of smart ventilation fans. The COVID outbreak resulted in halt of the non-essential activities. Furthermore, geopolitical unpredictability, supply chain disruptions, and inflation, which raises the cost of living, are some of the issues that the hampered the market.
As the COVID spread is controlled and the world including Mexico is getting back to the normal, the demand for smart ventilation fans is expected to grow. Emergence of COVID vaccine, reopening of the business has helped the recovery of the market in 2021. However, the market is still experiencing hard hit of the COVID and global supply chain disruptions. With the nation getting back to new normal, in combination with rise in the awareness regarding the use of IoT enables products for residential as well as commercial sector, the demand for new smart ventilation fans is projected to increase in the forecast period.
Mexico Smart Ventilation Fans Market Overview
The rapidly growing heating, ventilation, and air conditioning (HVAC) industry are expected to drive the demand for ventilation equipment market. Currently, significant investment is being made in Mexico to develop infrastructure to match the growth rate of other mature industries. This is pushing the sales of ventilation fans market.
The Mexicansmart ventilation fans market experienced deep impact of the COVID outbreak. The outbreak hampered the overall nation’s GDP and resulted into decline of industry, lowered sales of HVAC system which in turn, declined the sales of smart ventilation fans. The COVID outbreak resulted in halt of the non-essential activities. Furthermore, geopolitical unpredictability, supply chain disruptions, and inflation, which raises the cost of living, are some of the issues that the hampered the market.
 Mexico Smart Ventilation Fans MarketSegmentation Analysis
The Mexico Smart Ventilation Fans Market is segmented on the basis of CFM.
Mexico Smart Ventilation Fans Market by CFM
<110 CFM
110 CFM to 200 CFM
>200 CFM
To Get Summarized Market Report By Geography-Â
Based on CFM, the market is segmented into <110 CFM, 110 CFM to 200 CFM, and >200 CFM. <110 CFM accounted for the largest market share in 2021, and is projected to grow at the highest CAGR of 10.19% during the forecast period. 110 CFM to 200 CFM was the second-largest market in 2021. A fan’s potential to shift the air is measured in cubic feet per minute (CFM). The bigger the space, the higher the CFM rating is needed. The fan should have enough CFM to change the air in the bathrooms at a rate of eight times per hour. Most fans are rated between 50 and 110 CFM, but some models designed for large commercial and residential bathrooms, entertainment rooms and home theatres may have an even higher rating. Some of the products available in the global market with less than 110 CFM are ReVent 50 CFM with lighting and humidity sensing, ReVent 70 CFM with humidity sensing, ReVent 80 CFM with humidity sensing,Broan-NuTone110 CFM smart ventilation fan, Slim Fit 120 CFM Bathroom fan with Humidity Sensor Ceiling or Wall Mount.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
SEGMENTS COVERED
By CFM.
CUSTOMIZATION SCOPE
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