Ventilation System Market Size, Share, Opportunities, And Trends By Type (Exhaust Ventilation, Supply Ventilation, Smoke Ventilation, Others), By Equipment (Fan, Filters, Ducts, Other), By End User, (Residential, Industrial), And By Geography - Forecasts From 2023 To 2028

A ventilation system is a mechanical system designed to circulate and exchange the air in an enclosed space, such as a building, to improve indoor air quality and regulate temperature and humidity levels. The main purpose of a ventilation system is to remove stale or contaminated air and replace it with fresh air from the outside. Ventilation systems can be categorized into two types: natural ventilation and mechanical ventilation. Natural ventilation uses natural forces like wind and buoyancy to circulate air, while mechanical ventilation uses fans and ducts to move air. Effective ventilation is important for maintaining a healthy and comfortable indoor environment, particularly in buildings where windows cannot be easily opened or the outdoor air quality is poor. Increasing demand for better indoor air quality, government regulations, technological advancements, increasing awareness about the benefits of ventilation, etc. is some of the factors behind the growth of the ventilation system market.

The growing construction industry is one of the key drivers in the growth of the ventilation system market.

Ventilation systems play an important role in the construction industry by providing adequate air exchange, improving indoor air quality, and regulating temperature and humidity levels. The global construction industry is growing rapidly, particularly in emerging economies. As new buildings are constructed, the demand for ventilation systems is increasing, leading to market growth. For example, according to the Office for National Statistics, there was a 3.7% growth in construction output in the UK in 2022. The National Institute of Statistics (ISTAT) reported that Italy's construction output also increased by 4.9% during the same year. According to INSEE, France, there was a 4.40% increase in construction output in 2022. The National Institute of Statistics and Census data shows that GDP from Construction in Argentina increased to 22693.63 ARS Million in 2022. GDP from construction in Germany increased to 61.79 EUR Billion in 2022 according to The Federal Statistics Office. Additionally, according to the U.S. Census Bureau around 1,339,000 new building permits were issued in the country in February 2023. Data from the Chinese Government Statistics also show that the cumulative growth percentage of new homes in the country rose from about 50% in 2019 to around 60% in 2021.  Thus, it can be concluded from the given information that the global construction industry is on a rise and this will in turn boost the growth of the ventilation system market in the coming future.

The growing number of air conditioners is an important factor in the growth of the global ventilation system market.

Ventilation systems are commonly used in air conditioning systems. Ventilation is an essential part of air conditioning as it provides fresh air and removes stale air, moisture, and pollutants. Ventilation systems in air conditioning typically include air intake and exhaust systems, filters, and ductwork to distribute the air throughout the building. Therefore, ventilation systems play an important role in creating a healthy, comfortable, and energy-efficient indoor environment in air conditioning systems. The growing sales of air conditioning units will directly affect the growth of the ventilation system market. For instance, IEA data shows that the air conditioner stock in the United States of America has gone up from 393 million units in 2019 to 411 million units in 2022. This number in Europe has increased from 110 million units in 2019 to 126 million units in 2022 and from 54 million units in 2019 to 64 million units in 2022 in the Middle East, as per the same source. IEA has also forecasted that the global air conditioner units will increase from 366 million in 2022 to around 482 million units by 2030. Similarly, huge investments in this industry are also driving the sales of air conditioners. For example, in July 2022, an air conditioning startup called Blue Frontier received a $20 million investment from Breakthrough Energy Ventures, a clean tech investment fund owned by Bill Gates. Similarly, in June 2022, Strata, in collaboration with two German companies, Hyperganic, an AI-based engineering platform, and EOS, an industrial 3D printing company, announced plans underway to develop the most energy-efficient residential air conditioning system in the world, to be implemented in the Emirates. Therefore, as the number of air conditioners continues to increase, the growth of the ventilation systems market will be directly impacted.

The Asia-Pacific region is expected to show the maximum growth potential for the ventilation system market in the coming years.

The growth of this market is driven by several factors such as rapid urbanization, increasing awareness of indoor air quality, and rising demand for energy-efficient and sustainable building solutions. For instance, according to the United Nations Habitat’s World Cities report, by 2035, India is projected to have an urban population of 675 million, which will be the second highest after China's one billion. Similarly, data from United Nations Population Division shows that the percentage of the urban population in China went up from 60% in 2019 to 63% in 2021. Additionally, the region has a large population and a growing middle class with increasing disposable incomes, leading to increased demand for residential and commercial buildings with advanced ventilation systems. For instance, according to the Bank of Korea, in 2022, the GDP from construction in South Korea rose to 21931.90 KRW(Korean Won) billion. The Australian Bureau of Statistics states that the GDP from construction in Australia rose to 39667 AUD million in the third quarter of 2022. Ventilation systems can help to reduce carbon emissions in buildings. One of the primary ways that ventilation systems can reduce carbon emissions is by improving the energy efficiency of buildings. The increasing concern about carbon emissions in the Asia-Pacific region is a significant driving factor for the growth of the ventilation system market in this region. For instance, according to the Global Carbon Project data, CO2 emissions in China have increased from 10.74 billion tonnes in 2019 to 11.47 billion tonnes in 2021. A similar increase has been reported in India where the CO2 emissions have increased from 2.63 billion tonnes to 2.71 billion tonnes between 2019 and 2021. The mentioned factors are expected to contribute to the growth of the ventilation system market in the Asia-Pacific region.

Market Key Developments

• In July 2022, LG introduced a new residential building ventilation system that incorporates a CO2 sensor, HEPA filter, and UV-C technology.
• In November 2020, Skove released the BF 50, a new ventilation system for Tunnel and Combi-Tunnel houses that can be used for both side mode and tunnel mode ventilation. It is marketed under the name New Blue Fan 50.

Ventilation System Market Scope:

 

Report Metric	Details
Growth Rate	CAGR during the forecast period
Base Year	2021
Forecast Period	2023 – 2028
Forecast Unit (Value)	USD Billion
Segments Covered	Type, Equipment, End User, and Geography
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered	Honeywell International Inc., Mitsubishi Electric Corporation, Daikin Industries Inc., Carrier, Ventilation System LLC, Central Ventilation System, S&P Sistemas de Ventilación SLU, Agri Ventilation System LLC, CaptiveAire, Midea
Customization Scope	Free report customization with purchase

 

Segmentation

• By Type
  • Exhaust Ventilation
  • Supply Ventilation
  • Smoke Ventilation
  • Others
• By Equipment
  • Fan
  • Filters
  • Ducts
  • Other
• By End User
  • Residential
  • Industrial
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Suadi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Market Opportunities

4.4. Porter’s Five Force Analysis

4.4.1. Bargaining Power of Suppliers

4.4.2. Bargaining Power of Buyers

4.4.3. Threat of New Entrants

4.4.4. Threat of Substitutes

4.4.5. Competitive Rivalry in the Industry

4.5. Industry Value Chain Analysis

5. VENTILATION SYSTEM MARKET ANALYSIS, BY TYPE

5.1. Introduction

5.2. Exhaust Ventilation

5.3. Supply Ventilation

5.4. Smoke Ventilation

5.5. Others

6. VENTILATION SYSTEM MARKET ANALYSIS, BY EQUIPMENT 

6.1. Introduction

6.2. Fan

6.3. Filters

6.4. Ducts

6.5. Other

7. VENTILATION SYSTEM MARKET ANALYSIS, BY END-USER

7.1. Introduction

7.2. Residential

7.3. Industrial 

8. VENTILATION SYSTEM MARKET ANALYSIS, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1.  Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. Germany

8.4.2. UK

8.4.3. France

8.4.4. Spain

8.4.5. Others

8.5. Middle East and Africa

8.5.1. Suadi Arabia

8.5.2. UAE

8.5.3. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. South Korea

8.6.4. India

8.6.5. Australia

8.6.6. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. Honeywell International Inc.

10.2. Mitsubishi Electric Corporation

10.3. Daikin Industries Inc.

10.4. Carrier

10.5. Ventilation System LLC

10.6. Central Ventilation System

10.7. S&P Sistemas de Ventilación SLU

10.8. Agri Ventilation System LLC

10.9. CaptiveAire

10.10. Midea

Honeywell International Inc.

Mitsubishi Electric Corporation

Daikin Industries Inc.

Carrier

Ventilation System LLC

Central Ventilation System

S&P Sistemas de Ventilación SLU

Agri Ventilation System LLC

CaptiveAire

Midea