Fortune Business Insights has published a new research report titled Ventilation System Market Size, Share and COVID-19 Impact Analysis, By Product (Data Center Cooling, Centralized Ventilation, Decentralized Ventilation, and Range Hood), By Application (Commercial, Residential, and Industrial), and Regional Forecast, 2023-2030and Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2030 in its research data.
Projected market size and growth rate of theVentilation System Market Heng's Vortex Ii Vent Fan
According to the latest report published by Fortune Business Insights, The global ventilation system market size was valued at USD 27.61 billion in 2022. The market is projected to grow from USD 29.65 billion in 2023 to USD 50.26 billion by 2030, exhibiting a CAGR of 7.8% during the forecast period.
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TopVentilation System Market Size Manufacturers covered in the Market Report include:
Rising Adoption of Decentralized Ventilation to Propel Market
Climate change is one of the most critical factors influencing the ventilation system market growth. Due to rising temperatures across the globe and unpredictable climatic conditions, several sectors are adopting aeration systems to improve air quality and maintain their indoor climate. Increasing construction projects of residential and commercial buildings are fueling the demand for aeration systems. Decentralized systems have experienced a surge in demand from the residential sector due to their several benefits. Decentralized systems are cost and time-efficient, easy to install, and require minimal maintenance. These factors are likely to complement the growth of ventilation units.
Additionally, government regulations are fueling the product demand. For instance, standards related to indoor air quality improvement passed by the American Society of Heating, Refrigeration, and Air-Conditioning Engineers (ASHRAE), are expected to expand the market growth prominently. However, these systems' high operating costs and high maintenance costs are expected to act as a restraint to market growth.
April 2021: Midea Group represented a line of several new series of high-efficiency precision cabinet-type industrial precision fan coil units at China Refrigeration and Heating 21 (CRH-2021). February 2021: Komfovent launched a new VERSO CF 5000 V air handling unit under its VERSO standard series. CF 5000 V is a compact unit with a vertical duct connection that aids in saving space and effectively utilizes space.
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Factors Affecting the Stakeholders ofVentilation System Market (2030):
HVAC System Manufacturers: HVAC system manufacturers are the primary stakeholders in the market as they design, develop, and manufacture ventilation systems.
End-users: End-users of ventilation systems include building owners, facility managers, and homeowners who install ventilation systems in their buildings or homes for air quality and comfort.
Contractors and Installers: Contractors and installers are important stakeholders in the ventilation system market as they are responsible for installing and maintaining ventilation systems for end-users.
Industry Associations: Industry associations such as the Air Movement and Control Association (AMCA) are important stakeholders in the ventilation system market. They represent the interests of manufacturers, contractors, and end-users, and work to promote safety, sustainability, and innovation in the industry.
Maintenance and Repair Service Providers: Maintenance and repair service providers are also important stakeholders in the ventilation system market as they provide regular maintenance, repair, and replacement services to ensure the smooth operation of the ventilation systems.
Investors: Investors are also stakeholders in the ventilation system market as they provide the capital necessary for manufacturers and contractors to develop new products and expand their operations.
Report Title:Ventilation System Market Size, Share and COVID-19 Impact Analysis, By Product (Data Center Cooling, Centralized Ventilation, Decentralized Ventilation, and Range Hood), By Application (Commercial, Residential, and Industrial), and Regional Forecast, 2023-2030
Report Coverage: Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
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Major Points from Table of Contents
Global Ventilation System Market Research Report 2030
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