The scope of the recent study on the 'North America Destratification fan Market Forecast to 2028 - COVID-19 Impact and Analysis' includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with the market share analysis of the destratification fan market.
The destratification fan market was valued at US$ 204.9 million in 2021 and is projected to reach US$ 341.8 million by 2028; it is expected to grow at a CAGR of 7.6% from 2021 to 2028. The US and Canada are among the prime contributors to the North American destratification fan markets. In 2019, according to U.S. Energy Information Administration, the global emission of energy-related carbon dioxide was totalled 33,621.5 million metric tons while the United States emitted 5,130 million metric tons of energy-related carob dioxide, whereas Canada's total GHG emissions in 2019 were 730 mega tonnes of carbon dioxide. Therefore, the federal governments in North America are investing a massive amount of capital in reducing CO2 emission; thus, they are frequently investing in development and innovation products. For instance, the Canadian government has committed $60 billion to reduce greenhouse gas emissions, develop clean technologies, assist Canadians and communities in adapting to a changing climate, and protect the environment. Therefore, with these governments' initiatives, there are many lucrative opportunities for the key vendors operating in the destratification market.
The National Air Filtration Association (NAFA) is a non-profit trade association based in the United States that promotes the growth of air filter and component manufacturers, sales and service companies, as well as HVAC and indoor air quality. Furthermore, favourable policies such as establishing national air quality standards by the US Environmental Protection Agency, the US Clean Air Act, and Environment Canada's comprehensive emission reduction strategies are likely to have opened doors for destratification fan manufacturers in North America. Thus, to expand the destratification fan business product footprints, gain significant market share, and gain a competitive advantage over competitors, North America destratification fan companies such as ZOO FANS INC., Airius, LLC, VENTS-US, Continental Fan are working with other businesses to boost their regional presence by offering similar products and services.
COVID-19 has a negative impact on destratification fans market in North America. The demand for ventilation systems increased as medical facilities required cleaner, fresh air than ever before. Unfortunately, disrupted supply chains forced contractors to reconsider their worldwide supply networks, while the coronavirus itself forced companies to think about how to keep both employees and customers safe. According to some industry experts, April 2019 was the most difficult month for the HVAC business. According to HARDI (Heating, Air-conditioning, and Refrigeration Distributors International), between April 2020 and April 2019, the average distributor in the United States suffered a 19% drop in sales. Despite the fact that sales began to rise again in the summer of 2020, the unemployment rate was expected to continue to have a negative impact on the industry, as fewer firms were willing to invest on HVAC, especially with so many people out of work. The pandemic impacted construction as well as HVAC and other service-related sectors. According to a survey conducted by the American Institute of Architects (AIA) in September 2020, construction activity was predicted to decrease throughout the year and into 2021. Hotel construction was predicted to drop by more than 20%, while recreational and entertainment facilities would drop by 13%, offices by 11%, retail by 8%, and education by 7%.
North America Destratification fan Market Breakdown - by Country, 2020
On the basis of installation, the destratification fan market is divided into the open ceiling and grid ceiling. The open ceiling segment holds a significant amount of revenue shares in the market. On the basis of application, the destratification fan market is segmented into retail, warehouse & distribution, manufacturing facilities, agriculture & livestock, aviation, offices, hospitality & hotels, and others. The office segment holds a significant amount of revenue shares in the market. On the basis of sales channels, the destratification fan market is bifurcated into online and offline. The online, segment holds a significant amount of revenue shares in the destratification fan market.
Reasons to Buy
The destratification fan market was valued at US$ 204.9 million in 2021 and is projected to reach US$ 341.8 million by 2028; it is expected to grow at a CAGR of 7.6% from 2021 to 2028. The US and Canada are among the prime contributors to the North American destratification fan markets. In 2019, according to U.S. Energy Information Administration, the global emission of energy-related carbon dioxide was totalled 33,621.5 million metric tons while the United States emitted 5,130 million metric tons of energy-related carob dioxide, whereas Canada's total GHG emissions in 2019 were 730 mega tonnes of carbon dioxide. Therefore, the federal governments in North America are investing a massive amount of capital in reducing CO2 emission; thus, they are frequently investing in development and innovation products. For instance, the Canadian government has committed $60 billion to reduce greenhouse gas emissions, develop clean technologies, assist Canadians and communities in adapting to a changing climate, and protect the environment. Therefore, with these governments' initiatives, there are many lucrative opportunities for the key vendors operating in the destratification market.
The National Air Filtration Association (NAFA) is a non-profit trade association based in the United States that promotes the growth of air filter and component manufacturers, sales and service companies, as well as HVAC and indoor air quality. Furthermore, favourable policies such as establishing national air quality standards by the US Environmental Protection Agency, the US Clean Air Act, and Environment Canada's comprehensive emission reduction strategies are likely to have opened doors for destratification fan manufacturers in North America. Thus, to expand the destratification fan business product footprints, gain significant market share, and gain a competitive advantage over competitors, North America destratification fan companies such as ZOO FANS INC., Airius, LLC, VENTS-US, Continental Fan are working with other businesses to boost their regional presence by offering similar products and services.
Impact of COVID-19 Pandemic on North America destratification fan market
COVID-19 has a negative impact on destratification fans market in North America. The demand for ventilation systems increased as medical facilities required cleaner, fresh air than ever before. Unfortunately, disrupted supply chains forced contractors to reconsider their worldwide supply networks, while the coronavirus itself forced companies to think about how to keep both employees and customers safe. According to some industry experts, April 2019 was the most difficult month for the HVAC business. According to HARDI (Heating, Air-conditioning, and Refrigeration Distributors International), between April 2020 and April 2019, the average distributor in the United States suffered a 19% drop in sales. Despite the fact that sales began to rise again in the summer of 2020, the unemployment rate was expected to continue to have a negative impact on the industry, as fewer firms were willing to invest on HVAC, especially with so many people out of work. The pandemic impacted construction as well as HVAC and other service-related sectors. According to a survey conducted by the American Institute of Architects (AIA) in September 2020, construction activity was predicted to decrease throughout the year and into 2021. Hotel construction was predicted to drop by more than 20%, while recreational and entertainment facilities would drop by 13%, offices by 11%, retail by 8%, and education by 7%.
North America Destratification fan Market Breakdown - by Country, 2020
The report segments the North America destratification fan market as follows:
On the basis of installation, the destratification fan market is divided into the open ceiling and grid ceiling. The open ceiling segment holds a significant amount of revenue shares in the market. On the basis of application, the destratification fan market is segmented into retail, warehouse & distribution, manufacturing facilities, agriculture & livestock, aviation, offices, hospitality & hotels, and others. The office segment holds a significant amount of revenue shares in the market. On the basis of sales channels, the destratification fan market is bifurcated into online and offline. The online, segment holds a significant amount of revenue shares in the destratification fan market.
Reasons to Buy
- To understand the North America destratification fans market landscape and identify market segments that are most likely to guarantee a strong return
- To stay ahead of the race by comprehending the ever-changing competitive landscape for the North America destratification fans market
- To efficiently plan M&A and partnership deals in the North America destratification fans market by identifying market segments with the most promising probable sales
- To help in taking knowledgeable business decisions from perceptive and comprehensive analysis of the market performance of various segments in the North America destratification fans market
- To obtain North America destratification fans market revenue forecast by various segments from 2021 to 2028 in North America
Table of Contents
1. Introduction
3. Research Methodology
4. Destratification Fan Market Landscape
5. Destratification Fan Market - Key Market Dynamics
6. Destratification Fan Market - North America Market Analysis
7. Destratification Fan Market Analysis - By Installation
8. Destratification Fan Market - By Application
9. Destratification Fan Market - By Sales Channel
10. Destratification Fan Market - Geographic Analysis
11. Impact of COVID-19 Pandemic on Destratification Fan Market
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
List of Figures
Executive Summary
The destratification fan market was valued at US$ 204.9 million in 2021 and is projected to reach US$ 341.8 million by 2028; it is expected to grow at a CAGR of 7.6% from 2021 to 2028.The North America destratification fan market is predicted to grow due to factors such as increasing need for the energy-efficient ventilation system. Proper and effective ventilation plays a very important role in an energy-efficient home. The amount and type of ventilation that is 'suitable' varies from house to house and from occupant to occupant. Various households will have different occupancy levels (people and pets), schedules, activities, health concerns, and other preferences, all of which will influence the proper ventilation systems and functioning. Ventilation also aids in moisture control, lowering the risk of mold growth and structural damage. The American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) Standard 62.2 specifies how a home's living area should be ventilated.
It is widely assumed that in rooms with stratified air, the temperature disparity is normally 2-3°C per 5m height but can reach 1°C/m height. Using the greatest differential rate as an example, this indicates that in a 10m high room, the temperature difference between floor and ceiling level can be 10°C. The higher the ceiling, the greater the possible temperature differential, and hence the greater the expected savings from deploying effective thermal destratification fans. The savings can be achieved when the destratification fans are installed and turned on, as the air is destratified, and the heating system may be adjusted to a lower temperature. Additionally, destratification fans aid in enhancing energy savings by helping to save up to 20-30% off heating costs for industrial buildings or warehouses when properly installed and run at the optimum speed and direction.
On the basis of installation, the destratification fan market is divided into the open ceiling and grid ceiling. The open ceiling segment holds a significant amount of revenue shares in the market. The downstream demand markets are driving the growth of the destratification fan market. On the basis of application, the destratification fan market is segmented into retail, warehouse & distribution, manufacturing facilities, agriculture & livestock, aviation, offices, hospitality & hotels, and others. The office segment holds a significant amount of revenue shares in the market. Recent developments in fan technology, temperature control units, etc. are the major factors driving the adoption of destratification fans across North America. On the basis of sales channels, the destratification fan market is bifurcated into online and offline. The online, segment holds a significant amount of revenue shares in the destratification fan market. Rising awareness about indoor air quality (IAQ) and green building initiatives are some of the major factors contributing to the growth of the destratification fan market in North America. The US aviation industry is showing a Northward direction growth; for instance, according to the Bureau of Transportation Statistics (BTS), in September 2021, the U.S twenty airlines carried 58.4 million passengers, more than 90% of passengers. Therefore, with the increasing number of passengers has also increased the demand for commercial aircraft. Further, the growing focus on enhancing the infrastructure of private airports increases the demand for destratification fans, which in turn is further fuelling the growth of the US destratification fan market.
The US and Canada are among the prime contributors to the North American destratification fan markets. In 2019, according to U.S. Energy Information Administration, the global emission of energy-related carbon dioxide was totalled 33,621.5 million metric tons while the United States emitted 5,130 million metric tons of energy-related carob dioxide, whereas Canada's total GHG emissions in 2019 were 730 mega tonnes of carbon dioxide. Therefore, the federal governments in North America are investing a massive amount of capital in reducing CO2 emission; thus, they are frequently investing in development and innovation products. For instance, the Canadian government has committed $60 billion to reduce greenhouse gas emissions, develop clean technologies, assist Canadians and communities in adapting to a changing climate, and protect the environment. The US Federal government is investing $62 billion in the US Department of Energy (DOE) to continue making clean energy more equitable. The US government's Bipartisan Infrastructure Deal supports the supply chain for batteries, a grant program to support advanced energy technology manufacturing projects in coal communities, and the DOE's Loan Program Office's (LPO) authority to invest in various energy-efficient projects. Therefore, with these governments' initiatives, there are many lucrative opportunities for the key vendors operating in the destratification market.
The overall North America destratification fan market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the destratification fan market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the destratification fan market.
Companies Mentioned
- Zo- Fans Inc
- Canarm Ltd
- Vents US
- Continental Fan
- Delta T LLC
- Airius, LLC
- Air-Row Fan Company
- Refresh Fans
- Texas Electronics Canada Inc
- Drd System
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 126 |
| Published | March 2022 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 204.9 Million |
| Forecasted Market Value ( USD | $ 341.8 Million |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | North America |
| No. of Companies Mentioned | 10 |
