The global ventilation fan market size is projected to attain USD 3.85 billion by the year 2025. It is anticipated to grow at a CAGR of 7.7% throughout the approximated period. The major driver for this growth is the increasing demand from the commercial, residential and industrial infrastructures. The increase in the rate of installation into kitchens, garages, bathrooms, attics and dryer rooms are some of the prime drivers for the rise in demand for the product.
The increasing number of installation of exhausts in different institutions such as schools, colleges, hospitals, hotels, restaurants, beauty shops, publishing houses, laundry shops, and printing shops is supplementing the growth of the market. The requirement of the ventilation fans in different operations such as welding booths, portable fume exhausters, areas were grinding and polishing booths are required, coating and plating tanks and paint spray booths are high, which in turn is expected to bolster the market growth.
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E-commerce is dominating the industry because it is widely present across different digital platforms. The electronic retailers of this product (ventilation fans) have taken up different attractive strategies such as cash backs, discounts to capture the customers from different sectors through the estimated period.
The manufacturing sector is boosting its production because of the rising demand for the product. Panasonic achieved a cumulative, global production of exhausts that counted to 200 million. Its annual production is around 7 million units of fans and its manufacturing units are located across 40 countries in the world.
Further key findings from the report suggest:
• The axial ventilation fans market share was over 65% in 2018. The product is dominating the market, as it is energy-efficient.
• The centrifugal fan is projected to exhibit a CAGR of over 8% during the forecast period.
• The revenue for the ventilation fans that are wall mounted was over 60% in 2018. Ease in installation is the primary factor attributing to its growth.
• The metal ventilation fan had 70% of the share in the market in 2018 as it provides better circulation of air.
• The plastic ventilation fan is anticipated to grow with the highest CAGR of over 8% during the forecast period.
• The market for ventilation fans that are ceiling-mounted is expected to grow with A CAGR of over 8% during the forecast period.
Global Ventilation Fan Market: Key Players
Havells India Ltd. (Noida, India); Crompton (Mumbai, India); Mitsubishi Electric Corporation (Tokyo, Japan); Systemair AB (Skinnskatteberg, Sweden); Panasonic Corporation (Kadoma, Osaka, Japan); Delta Electronics Inc. (Taipei, Taiwan); Rexnord Electronic & Control Ltd. (India); Fuji Electric Co. Ltd. (Tokyo, Japan); Surya Roshni Ltd. (India); and Volution Group Plc. (United Kingdoms).
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