Industrial Ventilation Equipment Market Research, 2031
The global industrial ventilation equipment market size was valued at $9 billion in 2021, and is projected to reach $18.2 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.
Industrial ventilation equipment is mainly used to control indoor air quality by diluting and displacing indoor pollutants. Industrial ventilation consists of two parts that includes exhaust system and fresh air supply system. The air supply system includes air filtration equipment, air inlet, and cooling & heating equipment. The industrial ventilation equipment reduces the number of contaminants in air by mixing air with clean and fresh air.
Market Dynamics
Increase in industrial construction has led to surge in demand for industrial ventilation equipment. Moreover, rise in concern regarding air quality such as low indoor air quality is projected to have a great impact on human and labor health. Such factors are likely to increase the demand for industrial ventilation equipment and drive the market growth. Moreover, introduction for advanced ventilation equipment for improvement of air quality provides lucrative growth opportunities in the market. In addition, surge in construction of green buildings and strengthened government regulation regarding carbon emission boost the industrial ventilation equipment market growth.
Increase in population in developing economies such as China, India, U.S., and others has resulted in rapid industrialization, which is expected to boost development of the oil & gas, chemical, manufacturing, and other industries, which, in turn, is expected to increase the demand for industrial ventilation equipment. Moreover, rise in manufacturing sectors in the U.S. and China is expected to drive industrial ventilation equipment market growth.
On the basis of ventilation type, the dilution ventilation segment has registered highest revenue in 2021. Dilution ventilation can be used to reduce concentration of toxic and flammable fumes, particulates, and vapors. It helps to maintain sufficient oxygen level in end user industries such as oil & gas, manufacturing, and chemical industry.
On the basis of end user industry, the building product segment has accounted for the highest industrial ventilation equipment market share in 2021. Building products such as bricks, cement, stone and sand require lot of manufacturing process, which involves usage of chemicals and grinded material, which easily get mixed in air and can affect the indoor air quality. Hence, industrial ventilation equipment removes dust fumes and brings in large amount of fresh air.
The novel coronavirus (COVID-19) rapidly spread across various countries and regions in 2019, causing an enormous impact on the lives of people and the overall community. It began as a human health condition and has now become a significant threat to global trade, economy, and finance. The COVID-19 pandemic halted production of many products in the industrial ventilation equipment market, owing to lockdowns. Furthermore, the number of COVID-19 cases is expected to reduce in the future with the introduction of the vaccine for COVID-19 on the market. This has led to the reopening of industrial ventilation equipment companies at their full-scale capacities. This is expected to help the market recover by the end of 2022. After COVID-19 infection cases begin to decline, industrial ventilation equipment manufacturers must focus on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new methods of working.
Asia-Pacific dominated the market in 2021, accounting for the highest share, and is anticipated to maintain this trend throughout the industrial ventilation equipment market forecast period. This is attributed to increase in population, urbanization, and industries in countries such as India, China and Japan. Thus, all such factors are expected to drive the industrial ventilation equipment market growth in Asia-Pacific region.
The industrial ventilation equipment market is segmented into Ventilation Type, System Type and End User Industry. By ventilation type, the market is categorized into dilution ventilation and local exhaust ventilation. Depending on system, it is fragmented into air supply system and exhaust system. On the basis of end user, it is categorized into chemical, building products, manufacturing, oil & gas and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competition Analysis
Key companies profiled in the Industrial ventilation equipment industry report include Air System Components, Inc, Cincinnati Fan, EBM-PAPST, Fläkt Group, Greenheck Fan Corporation, Hitachi, Ltd, Howden Group, Johnson Controls International Plc, Loren Cook Company, Munters, Nanfang Ventilator Co., Ltd, Nortek Air Solutions, Polypipe, S&P USA Ventilation Systems, LLC, Systemair AB, Twin City Fan Companies, Ltd, and Yilida Group.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industrial ventilation equipment market analysis from 2021 to 2031 to identify the prevailing industrial ventilation equipment market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the industrial ventilation equipment market overview assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global industrial ventilation equipment market trends, key players, market segments, application areas, and market growth strategies.
- The report includes the analysis of the regional as well as global industrial ventilation equipment market outlook.
Industrial Ventilation Equipment Market Report Highlights
| Aspects | Details |
 By Ventilation Type |
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| By System Type |
|
 By End User Industry |
|
 By Region |
|
 Key Market Players | Zhejiang Shangfeng, Hitachi, Twin City Fan, Loren Cook, FläktGroup, Soler & Palau, zhejiang yilida ventilator co., ltd., Systemair, Howden, Greenheck, Ebm-Papst, Yilida, Nortek Air Solutions, Nanfang Ventilator, Johnson Controls, Polypipe Ventilation, cincinnati fan & ventilator co., inc. |
Analyst Review
The industrial ventilation equipment market has witnessed significant growth in past few years, owing to increase in industrialization and stringent government norms for improvement of air quality and labor health. Moreover, increase in investments from government and private sector in industrial construction such as chemical, manufacturing, oil & gas, and others fuel the market growth. Surge in industrial sector in developed countries such as China, U.S. and India are increasing the demand for industrial ventilation equipment and thus driving the market growth.
Moreover, various key players have implemented strategic moves such as product launch, acquisition, and business expansion to strengthen their market position. For instance, in September 2020, Greenheck expanded its manufacturing sector by opening new plant in Shelby NC, U.S. The Shelby louver plant includes an advanced high-performance paint line along with leading-edge manufacturing technologies optimized for quick and efficient louver production. As a result, such factors provide lucrative growth opportunities in the industrial ventilation equipment market.
The global industrial ventilation equipment market size was valued at $8,949.0 million in 2021.
Asia-Pacific is the largest regional market for Industrial Ventilation Equipment.
The building products segment is the leading end user industry of Industrial Ventilation Equipment Market.
The global industrial ventilation equipment market size is projected to reach $18,188.2 million by 2031.
Increased levels of air pollution in industrial workplaces and growth in Industrialization in developing countries are the upcoming trends of Industrial Ventilation Equipment Market in the world.
Routine maintenance is required to prevent unclean air flow is the Industrial Ventilation Equipment market effecting factors
The product launch is key growth strategy of Industrial Ventilation Equipment industry players.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
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