Here are some crucial facts about the residential ventilation fans market
The global residential ventilation fans market is expected to grow at a CAGR of more than 4%
Residential ventilation fans industry growth is driven by growing awareness about the increased benefits to the health by maintaining the air quality at home. In 2017, the leading segment by product in the residential ventilation fans was axial fans, followed by centrifugal fans and in-line fans. The advent of smart residential fans and the growing adoption of smart homes is forecasted to augment the growth of the residential ventilation fans market. APAC region will drive the largest incremental growth for the market, while the Americas will witness a faster growth in their market shares than the EMEA region.
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Rising awareness pertaining to better indoor air quality will drive the market growth
Growing consciousness about health and increased awareness about the advantages of maintaining better indoor air quality will drive the demand for residential ventilation fans across the globe. In addition, changing climatic conditions coupled with rapid industrialization are depleting the quality of air which will also contribute to the growth of the residential ventilation fans market. Poor air quality results in higher rates of respiratory disorders such as asthma and allergies which is compelling consumers to increasing adopt residential ventilation fans. Air ventilation systems for home help reduce excess moisture in the indoor environment and maintain better air quality and this factor will also enable a surge in demand for residential ventilation fans worldwide.
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Air King America, Broan-NuTone, and Panasonic are among the leading residential ventilation fan manufacturers
Most of the leading vendors in the global residential ventilation fans market are focused on offering new products with innovative features to adopt product differentiation policy and increase their customer base. Several leading ventilation fan manufacturers are expected to develop and introduce new products in the market to counter the evolving consumer behavior and augment their revenues. The changing lifestyles of the consumers and their growing need for convenient and effective products are also likely to play a key role in boosting the demand for residential ventilation fans during the next five years. Many international and regional vendors are vying for their share of the market, and players must differentiate themselves to gain vital traction over their peers.
This report offers a complete analysis of several companies, including:
- Air King America
- Broan-NuTone
- Panasonic
- Systemair
- Titon
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