The industrial ventilation equipment market registering high growth

Industrial ventilation equipment plays a vital role in safeguarding the health and safety of workers across industries. This market offers opportunities for growth driven by rising awareness of air quality, rapid industrialization, and increasing construction activities.

These ventilation equipment systems ensure a clean air supply by providing fresh airflow and removing contaminants, thereby maintaining optimal air quality in industrial settings. The Asia-Pacific market is also anticipated to grow at the highest CAGR due to rapid industrialisation and infrastructure development in countries like China, India, and Japan. Additionally, government regulations promoting indoor air quality improvement in industries are accelerating market growth. Asia-Pacific led the global industrial ventilation equipment market in 2021, accounting for the largest revenue share, followed by Europe and North America.

A recent report by Allied Market Research 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.

Market growth

The building products sector is expected to witness growth during the forecast period. This is attributed to the rising demand for 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.

With the reopening of production facilities post-Covid that disrupted supply chains and the widespread availability of vaccines, the market is rebounding, setting the stage for renewed growth. 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. The building products segment by end-user industry emerged as the largest revenue generator in 2021, driven by increased construction activities and demand for building materials. The air supply system segment registered the highest revenue in 2021 by system type showcasing its importance in maintaining air quality standards in industrial environments.

Asia-Pacific region to remain the fastest-growing region during 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.

Major players

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.