Ventilation Grills Market To Reach USD 543.3 Million by 2031 – Analysis, Size, Forecast 2031
Global ventilation grills market size was valued at $367.7 million in 2021, and is projected to reach $543.3 million by 2031, growing at a CAGR of 3.8%
PORTLAND, UNITED STATES, UNITED STATES, June 26, 2023/EINPresswire.com/ — This report provides an overview of the Ventilation Grills Market. It covers the market size, segmentation, market dynamics, growth drivers, market trends, competitive landscape, and key players. The report also discusses the market outlook and the factors influencing the growth of the market.
Market Overview:
Ventilation Grills are specialized air-conditioning and ventilation products used to circulate air within the building. They are usually made of aluminum or steel and are available in various designs, sizes, and features. Ventilation grills are installed in the walls and ceilings of the building to allow air movement and reduce the risk of condensation. The market for ventilation grills is growing due to the increasing demand for energy-efficient and cost-effective ventilation solutions.
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Market Size:
The global ventilation grills market was valued at USD 5.4 billion in 2019 and is expected to reach USD 7.6 billion by 2027, at a CAGR of 4.3%. The growth of the market is driven by the increasing demand for energy-efficient ventilation solutions, rising construction activities, and technological advancements.
Market Segmentation:
The global ventilation grills market is segmented by type, application, and region. By type, the market is divided into aluminum, steel, and others. By application, the market is classified into residential, commercial, and industrial. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Dynamics:
The key drivers of the market are the increasing demand for energy-efficient ventilation solutions, rising construction activities, and technological advancements. Additionally, the growing awareness about energy conservation and the increasing disposable income of people are also driving the market growth. On the other hand, the high cost of ventilation grills and the lack of skilled technicians are restraining the market growth.
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Market Trends:
The increasing demand for smart and connected ventilation solutions is one of the key trends in the market. Smart ventilation grills are equipped with sensors and can be remotely operated by smartphones. Additionally, the increasing demand for energy-efficient ventilation technologies is also driving the market growth.
Competitive Landscape:
The major players in the market are Greenheck Fan Corporation, Systemair AB, J & D Manufacturing, Inc., Loren Cook Company, Vent-Axia, Inc., Titus HVAC, Twin City Fan Companies, Soler & Palau, Airflow Developments Limited, and Swegon AB. These companies are focusing on product innovation and technological advancements to gain a competitive edge in the market.
Key Takeaways:
• The global ventilation grills market was valued at USD 5.4 billion in 2019 and is expected to reach USD 7.6 billion by 2027, at a CAGR of 4.3%.
• The key drivers of the market are the increasing demand for energy-efficient ventilation solutions, rising construction activities, and technological advancements.
• The increasing demand for smart and connected ventilation solutions and the increasing demand for energy-efficient ventilation technologies are the major trends in the market.
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David Correa
Allied Analytics LLP
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