The global commercial fan and air purification equipment market is anticipated to reach $161.94 Billion by 2032, growing from $71.06 Billion in 2022 at a CAGR of 8.9% from 2023 to 2032.
Commercial fan and air purification equipment refers to the specialized systems and devices designed for use in commercial spaces, such as offices, hospitals, shopping malls, restaurants, hotels, and other public establishments. This equipment is specifically developed to address the ventilation, cooling, and air purification needs of larger-scale environments. The combination of commercial fans and air purification equipment offers comprehensive solutions for maintaining a comfortable and healthy indoor environment in commercial settings. They work together to ensure adequate ventilation, efficient air circulation, and the removal of pollutants, providing occupants with clean, fresh air and optimal thermal comfort.
The commercial fan and air purification equipment market is being driven by several key factors, making it a promising industry for manufacturers and suppliers. There is a rising awareness of the importance of indoor air quality in commercial spaces. Businesses and organizations are Increasingly prioritizing the health and well-being of occupants, driving the demand for effective air purification equipment. In addition, the retrofitting of older buildings with commercial fans and air purification technology presents a significant opportunity for the market growth. Many older structures lack proper ventilation and air purification systems, and retrofit solutions provide a cost-effective way to improve indoor air quality without extensive renovations. Furthermore, stringent regulations and industry-specific requirements regarding air quality are boosting the demand for specialized commercial fan and air purification equipment. Industries such as healthcare, hospitality, education, manufacturing, and laboratories require tailored solutions to address their specific challenges and ensure compliance with air quality standards. All these factors are projected to drive the market growth during the forecast period.
One of the primary issues faced while installing commercial fan and air purification equipment is the limitation of available space. Many businesses, especially those operating in compact or crowded environments, may struggle to find suitable areas to accommodate these systems. The lack of sufficient space can make it challenging to install the equipment effectively and efficiently. This is one of the major factors anticipated to restrict the market revenue growth during the forecast years.
The Increasing awareness of indoor air quality and the need for clean, purified environments has created a strong demand for commercial fan and air purification equipment in various industries. Smart controls, sensor-based systems, and IoT connectivity can greatly enhance the usability, effectiveness, and functionality of these systems. Manufacturers that can offer remote control, automated adjustments, and real-time monitoring capabilities have a competitive edge in meeting the evolving needs of customers. These innovations provide convenience, energy efficiency, and enhanced control over indoor air quality. In addition, as regulations and standards for indoor air quality become more stringent, there is a rising need for high-quality air filtration and purification solutions. Manufacturers that can provide advanced filtration technologies, such as HEPA filters and UVGI systems, have a competitive advantage in meeting these requirements.
The COVID-19 pandemic has significantly impacted various industries worldwide, Including the commercial fan and air purification equipment market. The importance of maintaining clean and healthy indoor environments has been brought to the forefront due to the pandemic, leading to a surge in demand for advanced air filtration and purification solutions. The need to mitigate the transmission of airborne viruses and pathogens in commercial spaces, such as offices, retail stores, and healthcare facilities, has become a critical priority. Commercial fans and air purification technology, when used effectively, have the potential to minimize airborne pollutants and dust particles in commercial settings, as recognized by the U.S. Environmental Protection Agency (EPA).
The key players profiled in this report Include Honeywell International Inc., Panasonic Corporation, Carrier Corporation, Hitachi Ltd., Sharp Corporation., 3M Company, Regal Beloit Corporation, DAIKIN INDUSTRIES LTD., Illinois Tool Works Inc., and SPX FLOW Inc. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
Commercial fan and air purification equipment refers to the specialized systems and devices designed for use in commercial spaces, such as offices, hospitals, shopping malls, restaurants, hotels, and other public establishments. This equipment is specifically developed to address the ventilation, cooling, and air purification needs of larger-scale environments. The combination of commercial fans and air purification equipment offers comprehensive solutions for maintaining a comfortable and healthy indoor environment in commercial settings. They work together to ensure adequate ventilation, efficient air circulation, and the removal of pollutants, providing occupants with clean, fresh air and optimal thermal comfort.
The commercial fan and air purification equipment market is being driven by several key factors, making it a promising industry for manufacturers and suppliers. There is a rising awareness of the importance of indoor air quality in commercial spaces. Businesses and organizations are Increasingly prioritizing the health and well-being of occupants, driving the demand for effective air purification equipment. In addition, the retrofitting of older buildings with commercial fans and air purification technology presents a significant opportunity for the market growth. Many older structures lack proper ventilation and air purification systems, and retrofit solutions provide a cost-effective way to improve indoor air quality without extensive renovations. Furthermore, stringent regulations and industry-specific requirements regarding air quality are boosting the demand for specialized commercial fan and air purification equipment. Industries such as healthcare, hospitality, education, manufacturing, and laboratories require tailored solutions to address their specific challenges and ensure compliance with air quality standards. All these factors are projected to drive the market growth during the forecast period.
One of the primary issues faced while installing commercial fan and air purification equipment is the limitation of available space. Many businesses, especially those operating in compact or crowded environments, may struggle to find suitable areas to accommodate these systems. The lack of sufficient space can make it challenging to install the equipment effectively and efficiently. This is one of the major factors anticipated to restrict the market revenue growth during the forecast years.
The Increasing awareness of indoor air quality and the need for clean, purified environments has created a strong demand for commercial fan and air purification equipment in various industries. Smart controls, sensor-based systems, and IoT connectivity can greatly enhance the usability, effectiveness, and functionality of these systems. Manufacturers that can offer remote control, automated adjustments, and real-time monitoring capabilities have a competitive edge in meeting the evolving needs of customers. These innovations provide convenience, energy efficiency, and enhanced control over indoor air quality. In addition, as regulations and standards for indoor air quality become more stringent, there is a rising need for high-quality air filtration and purification solutions. Manufacturers that can provide advanced filtration technologies, such as HEPA filters and UVGI systems, have a competitive advantage in meeting these requirements.
The COVID-19 pandemic has significantly impacted various industries worldwide, Including the commercial fan and air purification equipment market. The importance of maintaining clean and healthy indoor environments has been brought to the forefront due to the pandemic, leading to a surge in demand for advanced air filtration and purification solutions. The need to mitigate the transmission of airborne viruses and pathogens in commercial spaces, such as offices, retail stores, and healthcare facilities, has become a critical priority. Commercial fans and air purification technology, when used effectively, have the potential to minimize airborne pollutants and dust particles in commercial settings, as recognized by the U.S. Environmental Protection Agency (EPA).
The key players profiled in this report Include Honeywell International Inc., Panasonic Corporation, Carrier Corporation, Hitachi Ltd., Sharp Corporation., 3M Company, Regal Beloit Corporation, DAIKIN INDUSTRIES LTD., Illinois Tool Works Inc., and SPX FLOW Inc. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the commercial fan and air purification equipment market analysis from 2022 to 2032 to identify the prevailing commercial fan and air purification equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the commercial fan and air purification equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global commercial fan and air purification equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Equipment Type
- Air Purification Equipment
- Attic and Exhaust Fan
- Others
By Power Range Type
- 200 - 400 Square Ft
- More Than 400 Square Ft
- Less Than 200 Square Ft
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA
Key Market Players
- 3M Company
- Carrier Corporation
- DAIKIN INDUSTRIES LTD.
- Hitachi Ltd.
- Honeywell International Inc.
- Illinois Tool Works Inc.
- Panasonic Corporation
- Regal Beloit Corporation
- Sharp Corporation.
- SPX FLOW Inc
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: COMMERCIAL FAN AND AIR PURIFICATION EQUIPMENT MARKET, BY EQUIPMENT TYPE
CHAPTER 5: COMMERCIAL FAN AND AIR PURIFICATION EQUIPMENT MARKET, BY POWER RANGE TYPE
CHAPTER 6: COMMERCIAL FAN AND AIR PURIFICATION EQUIPMENT MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Commercial Fan and Air Purification Equipment Market,' The commercial fan and air purification equipment market was valued at $71.1 billion in 2022, and is estimated to reach $162 billion by 2032, growing at a CAGR of 8.9% from 2023 to 2032.Commercial fan and air purification equipment refer to a range of devices and systems specifically designed for improving indoor air quality and providing effective ventilation in commercial settings. These products include commercial-grade fans, air purifiers, HVAC systems, filters, and related equipment, which help remove airborne contaminants, regulate temperature, and maintain a healthy and comfortable environment for occupants in various commercial spaces.
The commercial fan and air purification equipment market is driven by the increasing emphasis on improved indoor air quality and comfortable working environments in commercial spaces. The rising awareness of the detrimental effects of poor indoor air quality on health is a significant driver for the demand of the commercial fan and air purification equipment. As businesses and individuals become more conscious of the need for healthier indoor environments, there is a growing recognition of the importance of investing in air purification systems. Poor indoor air quality can lead to various health issues such as allergies, respiratory problems, and reduced productivity. This has prompted businesses to prioritize the improvement of air quality to safeguard the well-being of occupants. In addition, the demand for commercial fan and air purification equipment has increased as businesses aim to create healthier and safer indoor spaces for their employees and customers. The awareness of the impact of poor indoor air quality on health has accelerated the adoption of the air purification equipment and positioned them as essential components of building infrastructure. Increasing awareness and concern for indoor air quality is expected to boost the growth of the commercial fan and air purification equipment market in the upcoming years.
The high adoption and maintenance costs of commercial fan and air purification equipment is expected to hamper the market growth. Air purifiers are often considered premium products due to their expensive initial purchase costs, both in developed and developing countries. In addition, the maintenance costs associated with these devices can be significant, as filters typically need to be replaced two or three times a year. Some air purifiers even require multiple filters, further adding to the maintenance expenses. These high adoption and maintenance costs can create a barrier for some consumers and businesses, deterring them from investing in commercial fan and air purification equipment. All these factors are projected to restrict the market growth during the forecast period.
The commercial fan and air purification equipment market is being driven by advancements in filtration technologies, promoting innovation in the industry. Manufacturers are continuously developing filters with higher efficiency and enhanced capabilities for removing a wide range of pollutants. This includes the utilization of High-Efficiency Particulate Air (HEPA) filters, activated carbon filters, electrostatic precipitators, and UV-C germicidal irradiation systems. These advancements enable businesses to provide more effective solutions for improving indoor air quality. Moreover, to expand their manufacturing capacities and gain access to new markets, many companies in the commercial fan and air purification equipment market are pursuing strategies such as mergers and acquisitions. Large primary manufacturers are establishing joint ventures or acquiring small or mid-sized businesses to acquire new capabilities and broaden their product offerings. For example, in August 2019, Systemair AB, Systemair AB, Swedish ventilation equipment manufacturer, acquired the Australian company Pacific HVAC Engineering’s ventilation part for an undisclosed amount. This acquisition enhanced the market position in Australia and New Zealand and good growth for Systemair’s product range, primarily from the factories in India and Malaysia.
The commercial fan and air purification equipment market share is segmented on the basis of equipment type, power range type, and region. By equipment type, it is classified into air purification equipment, attic and exhaust fan, and others. By power range type, it is classified into less than 200 square ft, 200 - 400 square ft, and more than 400 square ft. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the commercial fan and air purification equipment market report include Honeywell International Inc., Panasonic Corporation, Carrier Corporation, Hitachi Ltd., Sharp Corporation., 3M Company, Regal Beloit Corporation, DAIKIN INDUSTRIES LTD., Illinois Tool Works Inc., and SPX FLOW Inc.
The report offers a comprehensive analysis of the global commercial fan and air purification equipment market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Commercial Fan and Air Purification Equipment Industry
Increasing health and safety regulations, particularly in response to the COVID-19 pandemic, is expected to drive the demand for commercial fan and air purification equipment in the post-pandemic period. Businesses are investing in equipment that complies with regulatory requirements and provides a safe and healthy indoor environment for employees, customers, and visitors.The COVID-19 pandemic accelerated the adoption of advanced technologies in commercial fan and air purification equipment. Manufacturers are incorporating smart features, IoT integration, and touchless controls to enhance the functionality, efficiency, and user experience of these products. The integration of these advanced technologies is expected to drive market growth in the pandemic recovery phase.
The pandemic disrupted global supply chains, causing manufacturing and logistics challenges for commercial fan and air purification equipment manufacturers. Lockdowns, travel restrictions, and labor shortages hindered production and delayed deliveries. This, in turn, affected the availability of these products in the market..
Key Findings of the Study
- Based on equipment type, the air purification equipment sub-segment emerged as the global leader in 2022 and is anticipated to be the fastest growing during the forecast period.
- Based on power range type, the 200 - 400 square ft sub-segment emerged as the global leader in 2022 and the less than 200 square ft sub-segment is predicted to show the fastest growth in the upcoming years.
- Based on region, Asia-Pacific registered the highest market share in 2022 and North America is predicted to show the fastest growth in the upcoming years.
Companies Mentioned
- 3M Company
- Carrier Corporation
- DAIKIN INDUSTRIES LTD.
- Hitachi Ltd.
- Honeywell International Inc.
- Illinois Tool Works Inc.
- Panasonic Corporation
- Regal Beloit Corporation
- Sharp Corporation.
- SPX FLOW Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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