Major players in the ventilation system market are UAB KOMFOVENT, CaptiveAire Systems, Greenheck Fan Corporation, SandP UK Ventilation Systems Ltd. , Twin City Fan and Blower, Johnson Controls, Honeywell International Inc.
New York, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ventilation System Global Market Report 2022" - https://www.reportlinker.com/p06319471/?utm_source=GNW
, Mitsubishi Electric Corporation, Nortek Air Solutions, CENTROTEC SE, Daikin Industries Ltd., Zehnderamerica, Trane Technologies Inc., Carrier Global, and Midea Group Co. Ltd.
The global ventilation system market is expected to grow from $26.11 billion in 2021 to $28.59 billion in 2022 at a compound annual growth rate (CAGR) of 9.5%. The ventilation system market is expected to grow to $39.14 billion in 2026 at a CAGR of 8.2%.
The ventilation system market consists of sales of ventilation system solutions by entities (organizations, sole traders, and partnerships) that are used to control indoor air quality by diluting and displacing indoor pollutants.A ventilation system is defined as a system in which clean outdoor air is intentionally delivered to an indoor space and stale air is removed.
This may be accomplished by either mechanical or natural processes. This system is also used to control indoor humidity, temperature, and air motion to improve thermal satisfaction and comfort with other aspects of the indoor environment.
The main types of ventilation systems are axial and centrifugal fans; heat recovery systems; and other products.The wall-mount type segment is designed to be installed anywhere on a wall surface, but these are generally found in the middle of an area.
The wall-mount type unit is built with features that allow it to rotate and direct airflow where the user needs it.This makes these especially good for delivering air conditioning in an indoor space.
The numerous different types include wall-mount type, ceiling-mount type, and cabinet-mount type, which are used in residential and non-residential applications.
Asia-Pacific was the largest region in the ventilation system market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in this ventilation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The ventilation system market research report is one of a series of new reports that provides ventilation system market statistics, including global market size, regional shares, competitors with a ventilation system market share, detailed ventilation system market segments, market trends and opportunities, and any further data you may need to thrive in the ventilation system industry. This ventilation system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growing preference for a changing climate is expected to propel the growth of the ventilation system market.Due to rising temperatures globally and unpredictable climatic conditions, climate change can impact situations indoors by deteriorating existing indoor air quality issues and creating new ones.
Some regions are implementing aeration systems to improve air quality and maintain the indoor climate.Climate change is also increasing the regularity and strictness of some dangerous weather events, such as extreme precipitation, flooding, and storms, which can result in harm to buildings and allow water or moisture to enter indoors.
For instance, according to NOAA (National Oceanic and Atmospheric Administration), a US-based scientific data and climate science, adaptation, and mitigation information provider, in March 2021, Earth’s temperature had risen by 0.14° F (0.08° C) per decade since 1880. The 2020 year was the second-warmest year according to NOAA’s previous temperature data. Also, in the year 2020, the average surface temperature was 1.76° F (0.98° C) across land and ocean. Therefore, the changing climate is the most critical factor influencing the growth of the ventilation system market.
Product innovation is a key trend gaining popularity in the ventilation system market.The global ventilation system market contains a large number of prominent manufacturers that are currently focusing on the development and marketing of novel devices to cater to the high demand and to gain a competitive edge.
For instance, in April 2021, Greenheck, a US-based manufacturer of air movement, conditioning, and control equipment, introduced a new model, RV-10, the latest addition to its line of rooftop ventilation equipment for both partial recirculation and 100% outside air systems. Model RV-10 also includes an inverter compressor that delivers accurate temperature and moisture control at lower sound levels and improves energy savings by perfecting part-cargo effectiveness.
In October 2020, Onpoint Industrial Services LLC, a US-based management, scientific, and technical consulting company, acquired Innovative Ventilation Systems, Inc. for an undisclosed amount. With this acquisition, Onpoint absorbed all operations, services, and customer accounts under the Innovative Ventilation Systems brand and allowed increasing value for both companies, broadening the scope of turnaround services available to customers. Innovative Ventilation Systems is a US-based manufacturer of axial impellers and ventilators for industrial applications.
The countries covered in the ventilation system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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