Mounting Environmental Concerns to Pave Way for Energy Efficient Ventilation Technologies
Over the past three to four decades, high-efficiency airflow and ventilation technologies have evolved at a rapid pace. Current trends in the ventilation fans market point toward considerable advancements in technology and a growing emphasis on the development of energy efficient ventilation systems. Ventilation fans are increasingly being used across a range of residential, commercial, and industrial buildings, including hospitals, restaurants, shopping malls, supermarkets, and warehouses. The ventilation fans market is set to witness noteworthy growth during the forecast period, primarily driven by two important factors, including growing consumer awareness pertaining to the environment and soaring demand for high indoor air quality (IAQ).
Market players operating in the current ventilation fans market are, thereby, investing considerable resources to launch innovative ventilation technologies that address current requirements. Over the past decade, innovations and advancements in variable air volume (VAV) ventilation systems have come at a rapid pace. Ventilation fans are extensively used in the new-generation of VAV systems and as per current observations, the trend is expected to continue during the forecast period. In addition, manufacturers operating in the ventilation fans market are also expected to focus on product development and design of a new range of ventilation fans to enhance energy efficiency. At the back of these factors, the global ventilation fans market is expected to attain a market value of ~US$ 3 Bn by the end of 2030.
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Demand for Axial Fans Likely to Remain Consistent, Adoption of Centrifugal Fans across Commercial Buildings on Rise
Ventilation fans have come a long way since their inception due to advancements in technology, evolving regulatory landscape, and the nature of the application. Ventilation fans are an integral component in modern-day HVAC systems. The design and physical characteristics of a ventilation fan largely depend on the nature of the application. At present, market players involved in the ventilation fans market are increasingly focusing on providing integrated units wherein motor and controls are included to minimize space requirements and simplify the overall process of maintenance.
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The demand for axial fans is expected to remain steady during the forecast period and likely to gain considerable adoption for applications in which static pressure and airflow are low. Axial fans are increasingly being used in cooling towers, combustion engine cooling systems, air conditioning condensers, etc. The low production as well as the maintenance costs of axial fans are factors likely to spurt the demand in the upcoming years. The demand for centrifugal fans is expected to witness notable growth during the forecast period, due to widening applications across the expanding commercial and industrial sectors mainly in the developing regions of the world. Centrifugal fans are well suited for commercial and industrial applications, owing to the high noise levels.
Market Players Focus on Introducing Innovative Ventilating Fans for Application in Oil & Gas Sector
Conventional mining ventilation systems have compelled manufacturers to roll out solutions that offer a perfect balance between energy usage and minimizing the environmental impact. However, as manufacturers continue to scramble to offer solutions to cater to these requirements, innovations in oil & gas ventilation systems have come at a slow pace. However, over the past decade, ventilation on demand (VOD) systems have gained considerable popularity as more and more players operating in the ventilation fans market landscape are increasingly focusing on offering energy-efficient ventilation systems that are integrated with advanced software models.
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VOD systems are likely to gain noteworthy traction over the upcoming decade, owing to advancements in novel technologies, including artificial intelligence and the Internet of Things (IoT). Innovations in VOD systems have focused on directing the airflow to areas where it is required. VOD systems offer tremendous cost-cutting potential.
Research Indicates Improving Ventilation to Reduce COVID-19 Transmission
Several research and development activities have suggested that improving ventilation systems across commercial buildings has tremendous potential in reducing the chances of COVID-19 transmission. In addition, as there is a considerable amount of ambiguity regarding the transmission of the novel COVID-19, the demand for ventilation fans is on the rise during the COVID-19 event, particularly from medical buildings. The demand from commercial buildings is likely to remain sluggish amid the closure of commercial buildings due to the ongoing lockdown and social distancing measures imposed by the government.
Ventilation Fans Market: Overview
- According to Transparency Market Research’s latest report on the global ventilation fans market for the period 2018–2030 (wherein 2019 to 2027 is the forecast period and 2018 is the base year), the axial fans product segment of the ventilation fans market is expected to expand at the highest CAGR. This segment is significantly influenced by the growing importance of clean air quality at home as well as in workspaces. Besides, the low cost and extensive application of axial fans is expected to contribute to its growth in the coming years.
- In the report, revenue generated in the global ventilation fans market is provided in terms of volume (Thousand Units) and value (US$ Mn) for the forecast period
Adverse Impact of Global Pandemic on Commercial Construction Industry: Key Challenge of Ventilation Fans Market
- Growth in commercial construction is among the key factors contributing to the increasing demand for ventilation fans globally. However, as majority of commercial builders, particularly in North America and Europe rely on Chinese-made goods, the present situation of the spread of the coronavirus is likely to have an adverse impact on the current as well as future construction plans, imposing substantial threat to the ventilation fans market.
- Supply shortages of electronic fixtures and small appliances, including ventilation fans is also anticipated to impact major home builders, further resulting in delays or cost overruns on present day projects
Rising Demand for Ventilation on Demand: Key Opportunity in Ventilation Fans Market
- Earlier, the economies of scale dominated industrial optimization and profitability, particularly in power and mining industries. However, the focus now has shifted to optimization of operation expense (OPEX). Additionally, the rising pressure on these industries to improve health and safety standards, and reduce carbon footprints of their operations has resulted in preference for energy saving solutions facilitating lower operation cost.
- Majority of mine operators are considering optimal ventilation solutions, as ventilation accounts for nearly 25% – 40% of a mine’s overall energy consumption
- This rising demand for optimal ventilation has resulted in adoption of Ventilation on Demand (VoD) service, where an automated ventilation system delivers the required clean air for safe and effective operations underground only when required. Thus, rise in VoD is likely to generate opportunity for ventilation fan manufacturers in terms of business diversification.
Government Initiated Regulations Supporting Use of Ventilation Systems: Key Driver of Market
- Indoor air quality is considered to be a highly critical aspect in any building infrastructure, whether residential, commercial, or industrial. A good ventilation system fuels good health and ensures comfort of the people working/residing in it. Thus, government authorities worldwide have specifically designed the IAQ (Indoor Air Quality) policies for industrial as well as non-industrial buildings (including residential buildings, schools, healthcare centers, offices, public facilities, and commercial infrastructures) in order to protect and encourage heath in indoor environments.
- Stringent implementation of these policies by governments is expected to continue to drive the demand for ventilation fans in new as well as retrofitting building projects
Ventilation Fans Market: Competition Landscape
- Detailed profiles of manufacturers of ventilation fans have been provided in the ventilation fans market report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global ventilation fans market include
- Panasonic Corporation,
- Nortek Inc.
- Systemair AB
- Greenwood Airvac
- Polypipe Ventilation
- Vent-Axia
- Airflow Developments Ltd.
- Mitsubishi Electric Corporation
- Delta Electronics, Inc.,
- Titon plc.
Ventilation Fans Market: Key Developments
- Some of the key developments in the global ventilation fans market are as follows:
- In February 2024, Broan-NuTone introduced new digital wall controls – SurfaceShield fan, featuring antibacterial LED light and cloud-based whole-home Connected IAQ system at the IBS (Innovations at Builders’ Show)
- In July 2018, Panasonic received recognition for its innovation in the field of home ventilation fans that mitigated the issue of both installation of the fans and performance challenges
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