Thermo Ventilators Market Size, Share & COVID-19 Impact Analysis, By Product Type (Wall Mounted, Window-mounted, Ceiling Mounted, and Portable), By End-Use (Commercial, and Residential), and Regional Forecast, 2021-2028

The global thermo ventilators market size was USD 2.80 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with thermo ventilators witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a huge decline of -3.4% in 2020 as compared to the average year-on-year growth during 2017-2019. The market is projected to grow from USD 2.94 billion in 2021 to USD 4.74 billion in 2028 at a CAGR of 7.1% in the 2021-2028 period. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

The increasing use of thermo ventilation units to facilitate better airflow in the confined bathroom spaces and also to maintain the ambient temperature in these spaces is pushing the growth of the said equipment market. Also, the development of more advanced products incorporated with internet of things (IoT) applications and are integrated with AI systems is attracting numerous customers towards the market. Most of the manufacturers are offering scheduled consultation surveys to offer the customer the best suited thermo ventilator for them, considering the location of the ventilation, the space for which the ventilation is being procured, and also the availability of the power supply. The consultation services also assure the customer about the pre-sales services of the company and also enable them to procure the most suited thermo ventilation system.

COVID-19 to Hamper Growth Owing to Numerous Limitations in Construction Industry

COVID-19 caused an extensive reduction of major economies operating in the global market. The imposition of stringent nationwide lockdowns in numerous countries such as the U.K., France, and India also reduced the cash liquidity in the market and also reduced operations in the market. Substantial limitations in the construction activities and obstruction to the development of residential and commercial estates can be termed as a major factor in hampering the growth of the market. Many countries are also suffering due to scarcity of available labor resources, which is directly impacting the speed and development of the construction sites. Additionally, difficulties in procurement of the raw materials are also augmenting the problems of the construction and development sector.

The COVID-19 pandemic also had a considerable impact on the supply chain operations and value chain management of the market. The disruption in the established supply chain created a perception of uncertainty in the market that compelled the distributors and retailers to progress with a pessimistic approach in the market. Many governments had put stringent curbs on the import-export and intra country transportation of the non-essential goods, which restricted the transportation operations and also curbed the international operations of the global market players, subsequently impeding the development of the market for thermo ventilators.

LATEST TRENDS

Integration of Advanced Digital Technologies in HVAC Systems is a Prominent Market Trend

The massive scale of incorporating the modern digital technology to develop the installation and operations of the HVAC system and thereby thermo ventilation system is anticipated to provide a substantial upsurge to the market. Most of the real estate developers and residential property owners are expected to be keen on the procurement of IoT-powered and AI-based HVAC decentralized systems to deploy proper ventilation systems to increase indoor air quality and comfort to elevate the standards of ventilation in the establishment. The current development in the deployment of IoT-based devices in new construction projects can be considered as one of the few lucrative market trends.

For instance, according to the recent industry analysis research report published by an IGBC accredited professional in 2020 the approximately 3 billion IoT integrated devices will be used in HVAC systems and space management. The increased market reach in the diverse regional market could bolster the IoT-based AI-powered thermo ventilation system market size across the globe.

DRIVING FACTORS

Energy-efficient and Reliable Multi-functional Thermo Ventilators to Gain Promising Momentum

In the recent past, ventilation systems were used across multiple regions during the winter, especially for the applications such as cloth drying, improved air circulation in closed and confined spaces, and maintaining the proper room temperature. These requirements encouraged the manufacturers to develop multi-functional thermo ventilators to attract customers to their products and gain a technological edge in the said equipment market. The increasing competition and technological advancement also developed the operational efficiency of these systems, luring the customers who are doubtful about the energy consumption of the products.  

The introduction products enabled with 24-hour ventilation mode can provide basic ventilation and proper air circulation without a window. These products are likely to be approved by commercial property developers who design the congested and closed washroom facilities in their infrastructure.

Substantial Investment for HVAC System Installations to Aid Market Growth

Real estate developers and even government authorities are focused on the utilisation of proper and technologically sound ventilation systems, which is propelling the installation of HVAC systems in private and public infrastructure products. Furthermore, increasing accuracy estimation of HVAC system installation is enabling us to decide about the budget-friendly HVAC decentralized systems. For instance, according to the builders’ association, about USD 17 to USD 22 per square foot cost is required for the installation of the HVAC system in the recreational system.

For new commercial infrastructure, the cost incurred lies between USD 15 to USD 23 per square foot, whereas, for the residential buildings, the cost is estimated to be around USD 13 to USD 18 per square foot. Such a precise and distinct expenditure approximation is also encouraging the customers towards the installation of these ventilators in the construction projects. Additionally, the increasing traction of customers towards retrofit applications is dictating the thermo ventilators market growth.

RESTRAINING FACTORS

High Cost and Maintenance Expenses May Hinder Market Growth

The market is still at a nascent stage in the developing economies, and initial installation charges and regular maintenance expenses are estimated to be a costly affair that may hamper the development prospects of the market as the condition discourages certain customers from procuring the products. Additionally, even if most of these ventilators have IPX4 flash resistance technology, most of the ventilators may succumb to direct water flow or may underperform in extremely humid conditions making these products efficient and effective in given conditions. Moreover, acting in compliance with the regular maintenance schedule and keeping up-to-date repair and diagnostic checks may emerge as a tedious task. All aforementioned limitations may restrain the potential development of this market across the regions.

SEGMENTATION

By Product Type Analysis

Wall Mounted Segment to Account for Major Share in the Near Future

By product type, the market is classified into wall-mounted, window-mounted, ceiling-mounted, and portable. According to the analysis of the product portfolio of prominent organizations and product cost mappings, the wall-mounted segment is estimated to hold a noteworthy share of the market due to its cost-effective offerings and ability to become compatible across different mounting locations.

The development of enhanced and effective window-mounted thermo ventilators is estimated to push the sales of the segment across different regions in the global market. The window ventilators are most apt for low ceiling apartments and are capable of fast air extraction, which is also increasing the application of window ventilators in the market. The aforementioned ventilators also eliminate the requirement of ventilation fans attracting customers towards the product.

By End-Use Analysis

Commercial Segment to Procure Noteworthy Development Prospects in Market

By end-use, the global market for thermo ventilators is further segmented into commercial and residential.

These ventilators can be used in numerous commercial infrastructures such as malls, complexes, restaurants and hotels, and corporate offices. The increasing emphasis on the development of comfortable, modular, and enhanced commercial infrastructure is projected to reinforce the sales prospects for the market. The development of high rise buildings and multistory commercial facilities is bolstering the sales of these ventilators in the commercial sector

The increasing trend of compact and confined infrastructure is surging the poor ventilation and buildings with bad quality of air circulations. Such infrastructure sometimes may be hazardous or even fatal at times due to unfavorable conditions. Thus builders and even the facility owners prefer the installation of proper ventilation systems and ventilators in washroom structures. Many metropolitan cities also recorded a record deterioration in the air quality index (AQI) ratings which further increasing awareness regarding the proper ventilation installations spurring the growth of the market

REGIONAL INSIGHTS

Asia Pacific is projected to witness a prominent pace of market growth over the slated period of time. The development of modular and enhanced infrastructure in the fast-developing cities and the pace of the infrastructure transformation in the metropolitan cities in the region are the vital factors attributing to the noteworthy growth in the sales of thermo ventilators in the region. Also, the high amount of pollution and increasing greenhouse emissions in the region also demand better ventilation and upbeat air circulation in the buildings.

Indian Market to Grow Steadily Backed by Establishment of Skyscrapers

The development of the market for thermo ventilators in India is mainly credited to the infrastructure developments in the smart cities and also real estate developers’ keen interest in the establishment of skyscrapers and high-rise commercial structures in the numerous cities across the country. The cities such as the NCT of Delhi and sections of North India have a really poor and hazardous quality of air, and all the buildings require proper ventilation and fresh air circulation to prevent any fatal injury to the occupants. These concerns are expected to drive the sales of thermo ventilation in India. It is expected to augment the influx of customers towards the market. Moreover, the considerable traction of customers towards the establishment of eco-friendly residential facilities and increasing green building initiatives would also propel market growth in the residential sector.

The considerable presence of numerous market players in the region and their established distribution channel in the region makes North America a dominant region in the global market. Stringent government regulation to maintain air quality will also help market to perform fairly within the region. Need for dehumidifiers and heaters in certain sections of the region due to its adverse climatic conditions also propels the growth of the market. The major chunk of the regional market is governed by the U.S. However, Canada is also anticipated to perform significantly in the region, given the climate in the country. The increasing application of heat recovery systems to develop energy efficient heating system is expected to drive the operations in the country.

Spearheaded by the countries such as the Kingdom of Saudi Arabia and the U.A.E., the market of the Middle East & Africa is estimated to exhibit modest growth over the industry forecast period. The decent presence of market players and adoption of these technologies is mainly concentrated in the developed countries and regions with numerous infrastructural marvels. The keen sense of infrastructural development in the region of the Middle East is expected to aid the market over the forecast period.

KEY INDUSTRY PLAYERS

Key Companies Focus on Collaborations and Joint Ventures across Diverse Regions

The key manufacturers in this market are trying to venture into mergers and acquisitions of the smaller entities and also trying to venture into collaborations and partnerships with other global market players. The mergers and acquisitions of players from different regions are helping these companies to gain a considerable sales foothold in different geographical areas and increase their presence in the global market.

For instance, Fujitsu announced its collaboration and initiation of manufacturing operations in the U.S. with Ventacity Systems Inc. The collaboration can be seen as the efforts of Fujistu General to increase their presence in the market of North America

LIST OF KEY COMPANIES PROFILED:

• 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)


• Johnson Controls (Cork, Ireland)


• Lennox International (Texas, the U.S.)


• Vaisala (Vantaa, Finland)


• Swegon Group AB (Gothenburg, Sweden)


• HIMPEL (Gyeonggi-do, South Korea)

KEY INDUSTRY DEVELOPMENTS:

• March 2018: HIMPEL, a South Korea-based manufacturer of HVAC systems, has introduced an advanced home exhaust fan system and thermo ventilation system, which is equipped with a 6 step safety device and wireless remote control system to adjust the operations of the thermo ventilators.

REPORT COVERAGE

The global thermo ventilators market report provides an in-depth analysis of the market dynamics and competitive landscape. The market research report provides a detailed analysis of the market. It focuses on key aspects, such as competitive landscape, leading companies, product types, and leading product applications. Besides, the report offers insights into the current market trends and highlights key industry developments resulting from primary and secondary research studies. In addition to the factors mentioned above, the report encompasses the analysis of several key factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation