Bizizz Market Research has recently published a research report, “Ventilation Fan Market by Product Type (Centrifugal and Axial), by Raw Material (Plastic and Metal), by Mounting Type (Ceiling Mounted and Wall Mounted), by Application (Residential, Commercial, and Industrial) and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Ventilation Fan Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 4.5 Bn by 2027, witnessing a CAGR of 7.5 % during the forecast period. Key drivers of the market are rising mortality rate caused by indoor air quality, rising awareness regarding harmful effects of air pollutants, and newly constructed small apartments.
The global ventilation fan market is majorly driven by reducing average sizes of newly constructed buildings in Zurich, China, and Beijing. Consumers are shifting towards small houses at prime locations rather than large houses at remote locations. The small houses have limited number of windows and lack of air circulation which necessitates the use of ventilation fans for required ventilation in such houses. This is expected to fuel the growth of global market during the forecast period.
The Ventilation Fan Market Is Anticipated To Register A CAGR Of Over 7.5 % During The Forecast Period.
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By Application, The Industrial Segment Held A Prominent Share In Global Ventilation Fan Market In 2018
Based on application, the Industrial segment held prominent share in global market. The ventilation fans are used to eliminate and exhaust contaminated and warm air. This is required in dip tank, spray painting, abrasive blasting, polishing and grinding, and welding areas. Moreover, stringent government regulations supporting employee health is expected to fuel the segment growth.
North America is Projected to Grow Rapidly Between 2019-2027
North America is projected to lead the global ventilation fan market by occupying significant share throughout the forecast period. The region held 30.5 % market share in 2018. The U.S. government have passed some rules for new construction regarding comfort, quality, and energy efficiency. Thus, the construction heavily relies upon ventilation fans for air tight and energy efficient homes. Moreover, Asia Pacific is projected to witness rapid growth over the forecast timespan. The Asian countries including South Korea, India, China, and Japan are considered as manufacturing hub owing to easy accessibility for human labors and rising demand from different verticals including government and service sector.
Global Ventilation Fan market is highly fragmented with several local and global players. The manufacturers are focused on product innovation which will help them to increase their customer base in different regions.
Prominent players operating in the Global Ventilation Fan Market are: Volution Group Plc, Crompton, Systemair AB, Delta Electronics, Inc., Surya Roshni Ltd., Fuji Electric Co., Ltd., Rexnord Electronic & Control Ltd., Havells India Ltd., Panasonic Corporation, and Mitsubishi Electric Corporation, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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