Thermo Ventilators Market Overview:
Thermo ventilators are electrical equipment that serve as a multipurpose ventilation system. Thermo ventilation is referred to a ventilator system that automatically adjusts the ventilation requirements as per the users preferences. Thermo ventilators are electrical appliances that combine the functions of automatic ventilation and air circulation. With an aim to achieve adequate and energy efficient ventilation in areas such as conference rooms, educational institutes, shopping complexes, residential lobbies, hotel rooms, and restaurants, ventilation systems are equipped with automated technology. This helps in automatic ventilation adjustments based on the occupancy of the building premises. The global thermo ventilators market is estimated to account for a market revenue of $2,332 million in 2016 and is expected to reach to $3,718 million in 2023.
The demand for global thermo ventilators industry is mainly driven by its ability to automatically adjust the ventilation system as per the occupants thereby making it energy efficient and its increasing application in commercial sector. Moreover, growth in awareness about thermo ventilators among the residential sector is also expected to contribute significantly to the growth in demand for global thermo ventilators market during the forecast period. However, the initial investment of these ventilators is expected to pose a major challenge for the global thermo ventilators market growth.
The key players operating in the global thermo ventilators market are Panasonic, Whirlpool, Lennox International Inc., Vaisala, Mistubishi Electric, Honeywell International Inc., Aereco, Swegon Group AB, Siemens, and Sauter Controls GmbH.
The thermo ventilators market is segmented on the basis of type, end-user industry, and geography. On the basis of type, thermo ventilators market is classified into ceiling mounted, wall mounted, and window mounted. Based on the end-user industry, thermo ventilators market is bifurcated into commercial and residential. By geography, the thermo ventilators market is analyzed across four regions including North America, Asia-Pacific, Europe, and LAMEA.
Asia-Pacific is expected to exhibit lucrative growth opportunities thereby registering the highest growth, owing to the increase in infrastructural investments in commercial real estate along with the rise in consumer preferences for energy efficient homes.
Top Impacting Factors
With the increase in need for energy efficient ventilation, the global thermo ventilators market is witnessing a significant traction in the commercial and residential sectors. Commercial sectors such as entertainment malls, restaurants, hotel rooms, educational institutions, corporate offices, conference or seminar rooms and others, demand ventilation systems that automatically adjust its operations based on the occupancy of the premises. Thus, the increase in the number of these commercial buildings is expected to catalyze the growth of the market during the forecast period. Moreover, the application of thermo ventilators is also noticed in residential sectors in places such as washrooms, lobbies, and multipurpose rooms. Thermo ventilators are expected to gain an increase in usage in residential sectors owing to its ability of serving the purpose of adequate ventilation as well as air circulation.
Furthermore, thermo ventilators besides providing automatic ventilation, also serve the purpose of adequate of air circulation thereby checking on the carbon dioxide level inside the building premises. In cases of residential application, thermo ventilators are also installed in washrooms wherein it serves as a multipurpose equipment including adequate air circulation, automatic ventilation, and drying clothes.
However, installation of thermo ventilators incurs heavy investments, which is expected to pose a major challenge for the growth of the global thermo ventilators market.
- The study provides an in-depth analysis of the global thermo ventilators industry and current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market is provided.
- Porters Five Forces analysis illustrates the potency of buyers & suppliers operating in the industry.
- The quantitative analysis from 2017 to 2023 is provided to determine the thermo ventilators market potential.
Thermo Ventilators Market Key Segments:
- Ceiling Mounted
- Window Mounted
- Wall Mounted
By End-User Industry
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Honeywell International Inc.
- Lennox International Inc.
- Mistubishi Electric
- Sauter Controls GmbH
- Swegon Group AB