The global mechanical ventilation systems market is expected to grow from US$ 19,566. 67 million in 2021 to US$ 28,022. 63 million by 2028; it is estimated to grow at a CAGR of 5. 27% from 2021 to 2028.
New York, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mechanical Ventilation Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type and Application" - https://www.reportlinker.com/p06195612/?utm_source=GNW
Growing innovations in energy recovery ventilation is anticipated to provide lucrative growth opportunities for the global mechanical ventilation system market.Prominent players are increasingly investing in the design and development of controlled ventilation that transfers heat from the warm exhaust air to the cold supply air to minimize energy and cost of heating ventilated air.
A few energy recovery systems also use existing ductwork to manage the expenses.Efficient ducts can effectively reduce pressure drops in the system and improve overall performance.
The incorporation of embedded devices in energy recovery systems prevent it from freezing and reduce frost formation that can damage heat exchangers.This further decreases the maintenance costs.
Increased focus on indoor climate have increased demand for turn-key heating, ventilation, and air conditioning (HVAC) solutions and integrated cooling methodologies. This is enabling the market vendors to invest in technologies that helps to obtain good thermal comfort and indoor air quality in warm summer seasons.
The mechanical ventilation ecosystem consists of hardware component and material providers, mechanical ventilation system manufacturers, system integrators, and end users.The hardware providers offer components such as air handling units with a supply fan, heating coil, cooling coil, humidifier, filters, mixed air economizer dampers, and sound attenuators to their customers.
Various hardware providers offer mechanical ventilation systems for applications in the industrial, residential, and commercial sectors.Industry participants are also offering products such as exhaust ventilation, supply ventilation, balanced ventilation, and energy recovery ventilation systems to the end users.
Integration efforts in the mechanical ventilation systems market are influenced by political, economic, and social concerns.These efforts become highly significant when supported by governmental stakeholders.
Volution Group PLC, DUCO Ventilation & Sun Control, Caladair International, Mitsubishi Electric Corporation, Airflow Developments Limited, Vortice, Blauberg, Infineon Technologies AG, Aermec(UK), and Mechanical Air Supplies Ltd are a few of the players operating in the market and are significantly contributing towards the market growth. Strategic thinking in ventilation systems business management as well as in procurement and marketing by redefining the existing logics and applying them to integrate value chains across competitive arenas are further bolstering the growth of the market.
Impact of COVID-19 Pandemic on Mechanical Ventilation Systems Market
The increasing number of COVID-19 confirmed cases has led the governments of North American countries to close nation’s borders during the Q2 of 2021.Manufacturing facilities are either temporarily shut or are operating with limited staff.
Moreover, the supply chains of components and parts are disrupted.The US is the largest market for mechanical ventilation systems due to its technologically advanced aerospace & defense and manufacturing sectors.
However, the COVID-19 outbreak has severely affected the production and revenue generation due to lowered production volumes.Thus, the COVID-19 pandemic is restraining the growth of the mechanical ventilation system market in North America.
Currently, in Europe, Russia is the most-affected country due to the COVID-19 pandemic, followed by France, the UK, and Italy. Owing to implementation of containment measures, such as restrictions on travel and shutdown of manufacturing facilities and businesses in the region, the market witness a crunch from supply side. Containment measures also disrupted the operations of end users of the mechanical ventilation system market, which negatively impacted the market from demand side. However, as containment measures were relaxed, the mechanical ventilation system market started to witness the growth from the Q1 of 2021.
The overall mechanical ventilation systems market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the mechanical ventilation systems market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic.The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the mechanical ventilation systems market.
A few major players operating in the market are Volution Group plc, DUCO Ventilation & Sun Control, Caladair International, Mitsubishi Electric Corporation, Airflow Developments Limited, Vortice, Blauberg, Infineon Technologies Ag, Aermec(UK), And Mechanical Air Supplies Ltd.
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