Pune, India, Sept. 02, 2021 (GLOBE NEWSWIRE) -- The global thermo ventilators market size was USD 2.80 billion in 2020. The market is projected to grow from USD 2.94 billion in 2021 to USD 4.74 billion in 2028 at a steady CAGR of 7.1% in the 2021-2028 period. As per our researchers, the surging utilization of a thermo ventilation system to provide improved airflow is limited bathroom areas, and in order to sustain the ambient temperature in these spaces is thrusting the growth of the market. This information is published by Fortune Business Insights™ in its report titled, “Thermo Ventilators Market, 2021-2028.” Additionally, the expansion of more advanced products combined with the Internet of Things (IoT) applications and are incorporated with AI systems is enticing several clients towards the market. This is expected to stimulate the market growth during the forecast period.
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List of Key Players Covered in this Market Report
- Siemens (Munich, Germany)
- Whirlpool (Michigan, the U.S.)
- Panasonic (Osaka, Japan)
- Fujitsu General (Kanagawa, Japan)
- Mitsubishi Electric (Tokyo, Japan)
- Aereco (Marne-la-Vallée, France)
- Honeywell International (North Carolina, the U.S.)
- Sauter AG (Basel-Stadt, Switzerland)
- Lennox International (Texas, the U.S.)
- Vaisala (Vantaa, Finland)
- Swegon Group AB (Gothenburg, Sweden)
- HIMPEL (Gyeonggi-do, South Korea)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 7.1 % |
| 2028 Value Projection | USD 4.74 Billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 2.94 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 120 |
| Segments covered | Size,Product Type, By End-Use, Geography |
| Growth Drivers | Energy-efficient and Reliable Multi-functional Thermo Ventilators to Gain Promising Momentum |
| Substantial Investment for HVAC System Installations to Aid Market Growth | |
| Integration of Advanced Digital Technologies in HVAC Systems is a Prominent Market Trend | |
| Pitfalls & Challenges | High Cost and Maintenance Expenses May Hinder Market Growth |
COVID-19 to Command Market Growth Due to Abundant Restrictions in Construction Industry
The COVID-19 outbreak instigated a widespread decline of major economies functioning in the global market. The infliction of rigorous countrywide lockdowns in several nations such as the U.K., France, and India further decreased the monetary fluidity in the market and also deteriorated actions in the market. Considerable restrictions in the construction and building industry and hindrance in the expansion of residential and commercial lands can be labeled as a chief factor obstructing the market growth market. Numerous countries are facing a major loss in economy owing to a shortage in the existing labor supply which is openly affecting the time and improvement of the building locations.
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Report Coverage
The report offers a methodical study of the thermo ventilators market segments and a systematic analysis of the market overview. A considerate assessment of the existing market trends as well as the impending opportunities are presented in the report. Besides, it reveals an extensive analysis of the regional insights and their role in shaping the market scenario. Additionally, the COVID-19 impacts have been conversed in the report to assist investors and business owners with a clear comprehension of the possible intimidations present in the market. The report further discusses the key players and their prominent strategies to stay in the dominating position.
Segmentation
Based on product type, the global market is categorized into wall-mounted, window-mounted, ceiling-mounted, and portable. According to the analysis of the product portfolio of the prominent organizations and product cost mappings, wall mounted segment is projected to hold a remarkable share of the market owing to its cost-effective contributions and capability to become well-matched across several mounting sites.
On the basis of end-use, the global market for thermo ventilators is further divided into commercial and residential. In terms of region, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Drivers and Restraints
Surging Expense on HVAC System and Ventilators in Infrastructure Projects to Stimulate Growth
Real estate developers, along with few government officials, are fixated on the application of suitable and technologically safe ventilation systems, which is boosting the installation of HVAC systems is reserved as well as public infrastructure projects. Moreover, the rising precision valuations of HVAC system installation are allowing us to consider the cost-effective HVAC system connection.
For example, as per the Builders’ Association, approximately USD 17 to USD 22 per square foot charge is mandatory for setting up an HVAC system in recreational areas. Likewise, for new commercial infrastructure projects, the cost acquired falls between USD 15 to USD 23 per square foot, whereas, for the housing projects, the price is projected to be around USD 13 to USD 18 per square foot. Such detailed and diverse expense calculations are also driving consumers towards the fitting of thermo ventilators in the infrastructure development schemes.
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Regional Insights
Asia Pacific to Dominate Backed by Improvement of Infrastructure
Asia Pacific held the majority of the thermo ventilators market share and is anticipated to observe a significant speed in the market growth over the scheduled period. The expansion of modular and improved infrastructure in the rapidly emerging urban areas and stride of the infrastructure alteration in the metropolitan cities in this region are the crucial aspects contributing to the remarkable growth in sales of these ventilators in this region.
North America holds the second-largest share in the market and is a dominant region in the global market owing to the significant existence of several market players in the region and their renowned delivery channel in the region. Furthermore, the necessity for dehumidifier and heaters in specific fragments of the region owing to its severe climatic circumstances also drive the market growth.
Directed by the nations such as the Kingdom of Saudi Arabia and the U.A.E., the market of the Middle East & Africa is projected to display decent growth during the forecast period. The market share and implementation of these technologies are primarily focused in the established countries and regions with several infrastructural wonders. Additionally, the acute sense of infrastructural expansion in the region of the Middle East is anticipated to flourish in the market over the upcoming years.
Competitive Landscape
Key Companies Focus on Alliances and Joint Ventures across Varied Regions
The significant thermo ventilator manufacturers in this market are constantly attempting to speculate into unions and procurements of the smaller bodies and also trying to course into associations and partnerships with other global market players. The unions and acquisitions of players from diverse regions are aiding these companies to attain a substantial sales position in different geographical areas and upsurge their existence in the global market.
For example, Fujitsu declared its association and introduction of manufacturing set-ups in the U.S. with Ventacity Systems Inc. The partnership can be stated as the determination of Fujistu General to escalate their existence in the North American market for thermo ventilators.
Industry Development
January 2018: Fujitsu General has announced to assimilate its constructing multi air conditioning system (VRF) unit with heat recovery ventilation systems of Ventacity Systems Inc. The partnership is formed to produce and deliver packaged HVAC solutions.
Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Product Types
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19 on Thermo Ventilators Market
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Thermo Ventilators Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- 6.1. Overview
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- Key Management
- Headquarters etc.
- Offerings/Business Segments
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- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Primary Interview Responses
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