Home Ventilation System Market - Growth, Trends, COVID-19 Impact and Forecasts (2022 - 2027)

The breakout of the COVID-19 pandemic in 2020 has had a negative influence on the market, with sales of commercial HVAC goods rapidly declining. Due to COVID-19 the supply chain was hampered and further impacted the global economy. The subsequent lockdown forced by various government bodies accross countries impacted the players in Ventilation System market with respect to labor availability, product transportation and raw materials procurement.

Home ventilation systems provide residents with a safe and comfortable living environment. These systems regulate airflow in the home to prevent pollutants like smoke, carbon dioxide, and volatile organic compounds from accumulating. When outdoor pollutant levels are high or indoor temperatures rise during the summer months, homes should have multiple ventilation fans installed throughout the interior to expel dangerous gases from within.

The growing demand for open-plan homes, rising construction activity in emerging economies such as India and China, and rising awareness about energy efficiency are some of the key factors driving market growth. Furthermore, growing health concerns about indoor air quality have increased the demand for efficient ventilation systems in residential buildings.

Key Market Trends

Innovations in Cost-Effective Energy Recovery Ventilation (ERV)

The HVAC industry's technological development is focused on cost-cutting initiatives and improving existing technology. Latent heat storage with higher storage density and smaller temperature changes is becoming more popular. The potential use of Phase Change Material (PCM) in HVAC solutions for thermal storage and temperature maintenance applications, as well as innovations in Next Generation Ventilation (NeGeV) to optimise system performance and meet ventilation and cooling demands for commercial and industrial sectors, are among the factors driving market growth. Furthermore, significant developments and innovations in mechanical ventilation systems are expected to match current price levels and significantly reduce operating costs while offering 50-90% lower energy consumption and a lower carbon footprint. All of the aforementioned factors are expected to support market growth and provide market participants with lucrative growth opportunities.

Home Renovation Industry will propel the Sales of Home Ventilation System Market

The global home improvement market was valued at USD 763 billion in 2020. With a CAGR of more than 4%, the home improvement market value was expected to surpass the trillion dollar mark by 2027. Homeowners' shifting preferences for energy-efficient and luxurious living spaces are significantly contributing to the industry's growth doe ventilation system. Rapid urbanization, combined with government initiatives to provide incentives and tax credits for green building construction, has fueled market growth for home ventilation system. Furthermore, the popularity of e-commerce and the availability of technologically advanced system upgrades will drive global home ventilation system activity.

Competitive Landscape

The report includes an overview of Home Ventilation comapnies operating across Global. We wish to present detailed profiling of a few major companies which cover product offerings, regulations governing them, their headquarters, and financial performance. Currently some of the major players dominating the market are listed below.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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