Mechanical Ventilation Systems Market to hit $ 28,022.63 Million, Globally, by 2028 at 5.27% CAGR: The Insight Partners

Mechanical Ventilation Systems Market is projected to reach US$ 28,022.63 million by & with a CAGR of 5.27% during 2021-2028 segmented by Type and Application.

NEW YORK, NEW YORK, UNITED STATES, November 11, 2021 / — According to our latest market study on “Mechanical Ventilation Systems Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market was valued at US$ 19,566.67 million in 2021 and is projected to reach US$ 28,022.63 million by 2028; it is expected to grow at a CAGR of 5.27% from 2021 to 2028.

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Report Coverage Details
Market Size Value in US$ 19,566.67 Million in 2021
Market Size Value by US$ 28,022.63 Million by 2028
Growth rate CAGR of 5.27% from 2021-2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 147
No. Tables 56
No. of Charts & Figures 73
Historical data available Yes
Segments covered Type and Application.
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Growing innovations in energy recovery ventilation are anticipated to provide lucrative growth opportunities for the global mechanical ventilation system market. Prominent players are increasingly investing in the design and development of controlled ventilation that transfers heat from the warm exhaust air to the cold supply air to minimize the energy and cost of heating ventilated air. A few energy recovery systems also use existing ductwork to manage the expenses. Efficient ducts can effectively reduce pressure drops in the system and improve overall performance.

The mechanical ventilation ecosystem consists of hardware components and material providers, mechanical ventilation system manufacturers, system integrators, and end-users. The hardware providers offer components such as air handling units with a supply fan, heating coil, cooling coil, humidifier, filters, mixed air economizer dampers, and sound attenuators to their customers. Various hardware providers offer mechanical ventilation systems for applications in the industrial, residential, and commercial sectors.

Mechanical ventilation is a system used to remove contaminated indoor air and bring in fresh outdoor air to provide a healthy and safe working environment in residential, commercial, and industrial sectors. A mechanical ventilation system consists of two main components—a fresh air supply system and an exhaust system. The supply system comprises an air inlet, air filtering equipment, and air-conditioning system. Mechanical ventilation systems are designed to bring in outdoor air at a specific speed to match the type of work and the rate of contaminants released in a building or a workplace.

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Impact of COVID-19 Pandemic on Mechanical Ventilation Systems Market

The COVID-19 outbreak has significantly impacted global economies with the sweeping lockdowns that have forced people to remain at home. The pandemic has hampered construction and manufacturing activities in many regions as the availability of laborers and the supply of equipment are reduced drastically, which, in turn, is hampering the growth of the mechanical ventilation systems market. However, a few leading providers of the mechanical ventilation systems market such as Mitsubishi Electric Corporation, Airflow Developments Limited, and Infineon Technologies AG are significantly contributing to the market growth through the adoption of strategic collaborations, launches of new products, and funding to the technological advancements. Ventilation systems help reduce airborne contaminants, such as viruses, in a building or small space.

Mechanical Ventilation Systems Market: Application

By Application, the mechanical ventilation systems market is segmented into industrial, residential, and commercial. The industrial ventilation systems comprise two central components—a fresh air supply system and an exhaust system. The supply system consists of components such as air inlet, air filtering equipment, duct systems, fans, heating & cooling equipment, and air distribution registers. There are two types of ventilation systems used for industrial applications that include dilution ventilation and local exhaust systems.

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In July 2021, DUCO has been identified with innovative and high-quality solutions providers that ensure a healthy indoor atmosphere for the end consumer. This is accomplished through the company's extensive line of window ventilators and boxes, lamella grilles, and fabric solar shading. The company is collaborating with a manufacturer of HVAC building products, Daikin Europe, for international expansion.

In September 2021, Energy Recovery Industries, a major manufacturer and provider of low-carbon, energy-efficient heat exchanger cells, was acquired by Volution Group Plc. On a debt-free cash-free basis, the initial consideration for the acquisition was US$ 27.2 million, with a contingent cash payment of up to US$ 14.4 million based on achieving expectations for the financial results for the year ending December 31, 2023.

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Source: EIN Presswire