Global Ventilation Grills Market Expected to Reach $543.3 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Ventilation Grills Market," The global ventilation grills market size was valued at $367.70 million in 2021, and is estimated to reach $543.3 million by 2031, growing at a CAGR of 3.8% from 2022 to 2031.

Ventilation grills are segmented based on material into plastic, metal, and wood. Among these, the metal segment held the largest ventilation grills market share in 2021, owing to the extensive use of metal ventilation grills in commercial and industrial buildings. Furthermore, ventilation grills are bifurcated into the exhaust and air supply based on their application. Based on application, the air supply segment registered a higher revenue in 2021, owing to the extensive use of air supply vents in cold countries. In addition, the market is analyzed among different end-user industries of ventilation grills, which includes building residential and non-residential buildings. The market is mainly driven by the rise in the residential real estate industry. However, factors such as fluctuating prices of raw materials and low expenditure on ventilation systems in developing economies are anticipated to limit the ventilation grills market growth.

In 2021, North America dominated the global ventilation grills market, in terms of revenue. Moreover, the market in Asia-Pacific is expected to grow with the highest CAGR. This is attributable to the rapid growth of the construction industry in developing countries such as India and China in the past few decades.

The rise in global population and rapid urbanization propel the growth of the building construction sector; thereby, driving demand for building ventilation systems. Ventilation systems consist of various components such as fans, filters, and grills. The rise in demand for ventilation systems positively influences the ventilation grills market. Moreover, ventilation grills enable the flow of fresh air throughout the internal spaces of the building, thereby reducing odor and maintaining a healthy work environment. Such advantages significantly improve the serviceability of the building. Thereby, positively influencing the growth of the market.

Furthermore, on the basis of the end-user industry, the non-residential segment is anticipated to grow rapidly during the forecast period, owing to a rapid rise in the number of commercial buildings in emerging economies such as India and China.

Key manufacturers in the market offer a wide range of products to sustain the harsh competition in the market. For instance, Systemair India Pvt. Ltd., a major manufacturer of ventilation grills, offers a wide range of ventilation grills for residential and commercial applications.

However, various manufacturers in the ventilation grills market had to stop their business in countries such as China, U.S., and India, during the pandemic lockdown. This break directly impacted sales of ventilation grill manufacturing companies. In addition, lack of manpower and raw materials constricted the supply of raw materials for ventilation grills; and negatively influenced the growth of the market. After two years of COVID-19 outbreak and the introduction of vaccinations, the severity of the pandemic has significantly reduced and there has been a rapid recovery amongst key players in the market.

Key findings of the study 

• The report provides an extensive analysis of the current and emerging ventilation grills market trends and dynamics. 
• By material, the metal segment dominated the ventilation grills market, in terms of revenue in 2021 and plastic is projected to grow at a significant CAGR during the forecast period.
• By application, the air supply segment registered higher revenue in 2021.
• By end user industry, the non-residential segment is anticipated to grow at a higher CAGR during the forecast period.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• The key players within the ventilation grills are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the ventilation grills industry.
• The ventilation grills market forecast report provides an extensive analysis of the current trends and emerging opportunities of the market. 
• In-depth ventilation grills market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.