Pune, India, May 12, 2022 (GLOBE NEWSWIRE) — The global ventilation system market size is anticipated to hit USD 46.47 billion by 2029. Fortune Business InsightsTM, in its report titled, “Ventilation System Market Size, Share & COVID-19 Impact Analysis, By Product (Axial & Centrifugal Fans, Recovery Ventilation Systems, and Others), By Application (Commercial, Residential, and Industrial), and Regional Forecast, 2022-2029”, observes that the market size stood at USD 25.76 billion in 2021 and USD 27.62 billion in 2022, and is expected to exhibit a CAGR of 7.7% between 2022 and 2029. Maintaining optimum air quality levels has become vital in recent years. The rising awareness of maintaining Indoor Air Quality (IAQ) is likely to uptick the market growth in the coming years.
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Launch of New Energy Core Ventilator ECV-40 by Greenheck to Incite Development
In May 2020, Greenheck, a renowned manufacturer and distributor in air conditioning, movement, and control equipment, unveiled its new energy core ventilator, ECV-40, a dual-fan arrangement ECV. The latest addition is available with a mixed flow fan, which is a hybrid of a centrifugal fan and an axial propeller that can reduce brake horsepower needs by nearly 50%. The product offers easy maintenance due to no belts and low sound levels.
Soaring Demand for Decentralized Ventilation Systems to Amplify Market Growth
Ventilation systems help to minimize carbon footprints, improve the surrounding environment, and optimize energy efficiency. The expanding demand for decentralized systems across the residential sector is likely to be a major propellant for market growth. Decentralized systems occupy less space and incur minimal maintenance and malfunctioning situations. Across the commercial and residential sectors, the expanding refurbishment and retrofitting projects are further invigorating the market's expansion.
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|Forecast Period||2022 to 2029|
Full story available on Benzinga.com