Rise in manufacturing sectors in the U.S. and China is expected to drive industrial ventilation equipment market growth.

WILMINGTON, DE, UNITED STATES, December 18, 2024 /EINPresswire.com/ -- Industrial Ventilation Equipment Market: Growth, Trends, and Insights
A recent report by Allied Market Research, titled “Industrial Ventilation Equipment Market”, highlights significant growth prospects in the sector. The market, valued at $9 billion in 2021, is projected to reach $18.2 billion by 2031, expanding at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2031.

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Industrial ventilation equipment plays a vital role in safeguarding the health and safety of workers across industries such as oil & gas, chemical, and manufacturing. These systems ensure a clean air supply by providing fresh airflow and removing contaminants, thereby maintaining optimal air quality in industrial settings.

Key Market Drivers
Asia-Pacific led the global industrial ventilation equipment market in 2021, accounting for the largest revenue share, followed by Europe and North America. The market in Asia-Pacific is also anticipated to grow at the highest CAGR due to rapid industrialization and infrastructure development in countries like China, India, and Japan. Additionally, government regulations promoting indoor air quality improvement in industries are accelerating market growth.

The building products sector is expected to witness rapid growth during the forecast period. This is attributed to the rising demand for materials like cement, sand, bricks, and aggregates, driven by construction activities in emerging economies. For instance, in February 2020, the UAE government approved $2.7 billion in infrastructure projects under its public-private partnership (PPP) model, encompassing industrial and commercial structures. Such initiatives are fueling the demand for industrial ventilation equipment.

Impact of COVID-19
The COVID-19 pandemic posed significant challenges to the industrial ventilation equipment market. Manufacturing activities in key regions, including China, the U.S., and India, were halted, directly impacting equipment sales. The disruption in supply chains due to shortages of manpower and raw materials further constrained the market. However, with the reopening of production facilities and the widespread availability of vaccines, the market is rebounding, setting the stage for renewed growth.

Segmentation and Trends
The industrial ventilation equipment market is segmented based on ventilation type, end-user industry, and system type:

By Ventilation Type:

The dilution ventilation segment dominated revenue generation in 2021 and is projected to grow significantly during the forecast period.
By End-User Industry:

The building products segment emerged as the largest revenue generator in 2021, driven by increased construction activities and demand for building materials.
By System Type:

The air supply system segment registered the highest revenue in 2021, showcasing its importance in maintaining air quality standards in industrial environments.
Regional Insights
Asia-Pacific is expected to remain the fastest-growing region throughout the forecast period, benefiting from large-scale industrial projects and government-backed infrastructure investments. Other regions, such as Europe and North America, also hold significant shares, driven by stringent environmental regulations and technological advancements in ventilation systems.

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Competitive Landscape
Key players in the industrial ventilation equipment market include:

Twin City Fan & Blower
Greenheck Fan Corporation
ebm-papst Group
Systemair AB
Johnson Controls International
Munters Group AB
Howden Group
Soler & Palau Ventilation Group
Nortek Air Solutions
These companies employ strategies like product innovations, partnerships, and acquisitions to maintain competitiveness and meet evolving customer demands.

Key Findings
The dilution ventilation segment dominated revenue generation in 2021 and is poised for significant growth.
The building products segment led the market by end-user industry in 2021, driven by construction activity in emerging markets.
Asia-Pacific is projected to maintain the highest growth rate during the forecast period.
The industrial ventilation equipment market offers promising opportunities for growth, driven by rising awareness of air quality, rapid industrialization, and increasing construction activities. Despite challenges posed by the COVID-19 pandemic, the market is on track to recover and expand, supported by government initiatives and technological advancements.

The report provides an in-depth analysis of global trends, emerging opportunities, and forecasts for key segments from 2022 to 2031, highlighting the market’s potential for sustained growth in the coming years.

David Correa
Allied Market Research
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