Industrial Ventilation Equipment Market Expected to Reach $18.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Industrial Ventilation Equipment Market," The industrial ventilation equipment market size was valued at $9 billion in 2021, and is estimated to reach $18.2 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.

Industrial ventilation equipment are necessary requirement for the safety and health of labor and workers across various industries such as oil & gas, chemical, manufacturing and others. Industrial ventilation can refer to a variety of systems and strategies that are designed to ensure that there is a clean air supply and fresh airflow while removing any contaminants from the air.

In 2021, Asia-Pacific dominated the global industrial ventilation equipment market, in terms of revenue, accounting for the majority of industrial ventilation equipment market share, followed by Europe and North America. Moreover, the market in Asia-Pacific is growing with high CAGR, owing to infrastructure and industrial development in countries such as China, India, and Japan. Moreover, rising government regulation for improvement of indoor air quality in industries are accelerating the industrial ventilation equipment market growth.

Furthermore, on the basis of end user industry, the building products segment is anticipated to grow rapidly during the forecast period, owing to rise in manufacturing of building products such as cement, sand, ricks, and aggregates. Moreover, increasing in construction activities in emerging countries which further increase the demand for industrial ventilation equipment. For instance, in February 2020, the government of UAE has passed a tender of $2.7 billion for infrastructure projects under its public-private partnership (PPP) model. These infrastructure projects include industrial and commercial structures. All such factors are driving the industrial ventilation equipment market growth.

However, during the COVID-19 pandemic, various manufacturers in the industrial ventilation equipment market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of industrial ventilation equipment companies. In addition, lack of manpower and raw materials also constricted supply of equipment of industrial ventilation equipment system, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of industrial ventilation equipment companies.

Key Findings of The Study

• The report provides an extensive analysis of the current and emerging global industrial ventilation equipment market trends and dynamics. 
• Depending on ventilation type, the dilution ventilation segment has dominated the market, in terms of revenue in 2021 and is projected to grow at a significant CAGR during the industrial ventilation equipment market forecast period.
• By end user industry, the building products segment has registered highest revenue in 2021.
• By system, air supply system segment has registered highest revenue in 2021.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• The key players within the global industrial ventilation equipment market overview are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the industrial ventilation equipment industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market.
• In-depth global industrial ventilation equipment market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
• The report includes the analysis of the regional as well as global industrial ventilation equipment market outlook.