Commercial Fan And Air Purification Equipment Market Definition
The commercial fan and air purification equipment market consists of sales of commercial fan and air purification equipment and related services by entities (organizations, sole traders and partnerships) that produce industrial and commercial fan and air purification equipment such as industrial dust and fume collection equipment, electrostatic precipitation equipment, warm air furnace filters, air washers, and other dust collection equipment, attic fans and industrial and commercial fans and blowers, such as commercial exhaust fans and commercial ventilating fans.
Commercial Fan And Air Purification Equipment Market Size
The global commercial fan and air purification equipment market reached a value of nearly $ 71,520.3 million in 2019, having grown at a compound annual growth rate (CAGR) of 8.8% since 2015, and is expected to grow at a CAGR of 4.6% to nearly $ 85,493.3 million by 2023. The market is expected to reach $101,016.2 million in 2025, and $150,612.4 million 2030.
Growth in the historic period resulted from technological advances and increasing concerns of workers on poor quality of air at work places. Factors that negatively affected growth in the historic period were growing environmental concerns, and counterfeit products.
Going forward, changing climate conditions, coronavirus impact, and stringent regulation on industrial and commercial sector air pollution are expected to drive the market. High adoption and maintenance costs, UV technology used in air purification equipment, supply chain disruption, ozone emissions, and underperformance are major factors that could hinder the growth of the commercial fan and air purification equipment market in the future.
Commercial Fan And Air Purification Equipment Market Drivers
The key drivers of the commercial fan and air purification equipment market during 2019–2023 include:
Changing Climate Conditions
The changes in climatic conditions are affecting the quality of air and water globally. The particulate matter in the air has changed with particulate matter smaller than 2.5 µm suspended in the air. Inhalation of the particulate matter leads to an increased incidence of various chronic conditions such as asthma, COPD, and other respiratory diseases. The declining quality of air is affecting the health of millions of people globally. The drastic alteration of global climate will increase the proportion of individuals suffering from various chronic respiratory ailments, leading to a growth in the demand for air purification equipment.
Commercial Fan And Air Purification Equipment Market Restraints
The key restraints on the commercial fan and air purification equipment market during 2019–2023 include:
High Adoption And Maintenance Costs
High adoption and maintenance costs are expected to limit the growth of the commercial fan and air purification equipment market. Air purifiers are considered premium products due to the high adoption cost in both developed and developing countries. According to consumer reports, air purifiers range from $200 to $900 and the maintenance is high due to the change of filters two or three times a year, and some air purifiers have multiple filters. For instance, considering the average carbon activated filter air purifier that eliminates bad odors on the market, the filter needs to be replaced every three months to be effective, which costs $50, then there is an additional cost of the main filter which ranges from $20 to $200 each. The Honey wells Air Touch S8 is a HEPA technology-based air purifier that costs around $500 (36,000 INR) in India and is a multiple filter air purifier. The filter should be replaced every 4 months, which costs $40 (3,000 INR) each time. , Therefore, high adoption and maintenance costs are expected to affect the commercial fan and air purification equipment market’s growth.
Commercial Fan And Air Purification Equipment Market Trends
Major trends shaping the commercial fan and air purification equipment market include:
Energy-Efficient Appliances
Air purification equipment’ manufacturers are increasingly producing energy-efficient products to reduce their environmental footprint and enable energy savings for consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric appliances and advances in technology. Energy-efficient appliances are designed to utilize minimum energy to complete the required task. This results in significant cost savings for consumers. All major appliances including air purifiers are available with energy efficiency ratings. Currently, over 80 countries have standards and labels for energy-efficient appliances. Most appliances in the USA, for example, are ENERGY STAR certified, which use 10% to 50% less energy each year than a non-energy efficient equivalent.
Increasing Merger And Acquisition Activities
The focus areas for many companies in the commercial fan and air purification equipment market has shifted to increasing mergers and acquisitions to acquire more production capabilities. Large prime manufacturers are forming joint ventures or buying small or midsized companies to acquire new capabilities or gain access to new markets. For instance, in August 2019, 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. Also, in June 2019, Filtermist, a UK-based company specialized in air filtration and manufacturing air purifiers, acquired the air services division of Carter Environmental. This acquisition provides Filtermist with unlimited access to Carter’s dry dust filters, booths, benches and wet collectors, which will improve Filtermist’s customer base and increase sales. Filtermist will use this acquisition as a unique opportunity to expand into dust extraction in metalworking, which has a lot of potential for growth. England-based Carter Environmental Engineer is best known for their high-quality wet collectors and dust extractors, which are extensively used for air purification.
Opportunities And Recommendations In The Commercial Fan And Air Purification Equipment Market
Opportunities – The top growth potential in the commercial fan and air purification equipment market by type will arise in the air purification equipment market, which will gain $7,415.6 million in global annual sales by 2023. The top growth potential in the commercial fan and air purification equipment market by range will arise in the 200-400 square ft. market, which will gain $ 8,596.8 million in global annual sales by 2023. The top growth potential in the commercial air purification equipment market by type will arise in the welding fume extractor market, which will gain $987.0 million in global annual sales by 2023. The commercial fan and air purification equipment market size will gain the most in the China at $ 4,809.6 million.
Recommendations – To take advantage of the opportunities, The Business Research Company recommends the commercial fan and air purification equipment companies to focus on developing energy efficient appliances, focus on developing portable air ventilators, offer competitively priced products, expand in emerging markets, leverage e-commerce, focus on adopting social media promotion, and use Direct-To-Consumer (DTC) advertising.
Commercial Fan And Air Purification Equipment Market Segmentation
The commercial fan and air purification equipment market is segmented by type, by range, and by geography.?
By Type
The commercial fan and air purification equipment market can be segmented by type into
- a. Air purification equipment
- b. Attic and Exhaust Fan
- c. Other Commercial Fan and Air Purification Equipment
The air purification equipment market was the largest segment of the commercial fan and air purification equipment market by type, accounting for $ 33,043.1 million or 46.2% of the total market in 2019. It is also expected to be the fastest-growing segment going forward at a CAGR of 5.2% during 2019-2023.
By Range–
The commercial fan and air purification equipment market can be segmented by range into
- a. Less Than 200 Square Ft.
- b. 200 - 400 Square Ft
- c. More Than 400 Square Ft.
The 200-400 square ft market was the largest segment of the commercial fan and air purification equipment market by range, accounting for $37,874million or 53.0% of the total market in 2019 and is expected to be the fastest-growing segment going forward at a CAGR of 5.2% during 2019-2023.
Sub-Segmentation–
By Commercial Air Purification Equipment Market Type–
The commercial fan and air purification equipment market can be segmented by type
- a. HEPA Filter
- b. Wet Scrubbers
- c. Welding Fume Extractors
- d. Dust Collectors’
- e. Oil Mist Collectors
- f. Dry Scrubbers
- g. Other Air Purification Equipment
The wet scrubbers market was the largest segment of the commercial fan and air purification equipment market by type, accounting for $13,844million or 41.9%% of the total market in 2019. The dry scrubbers market is expected to be the fastest-growing segment going forward at a CAGR of 7.8% during 2019-2023.
By Geography-
The commercial fan and air purification equipment market is segmented by geography into
- o North America
- o Western Europe
- UK
- Germany
- France
- Austria
- Belgium
- Denmark
- Finland
- Ireland
- Italy
- Netherlands
- Norway
- Portugal
- Spain
- Sweden
- Switzerland
- o Asia Pacific
- China
- Australia
- Hong Kong
- India
- Indonesia
- Japan
- Malaysia
- New Zealand
- Philippines
- Singapore
- South Korea
- Thailand
- Vietnam
- o Eastern Europe
- Czech Republic
- Poland
- Romania
- Russia
- o South America
- Argentina
- Brazil
- Chile
- Colombia
- Peru
- Venezuela
- o Middle East
- Saudi Arabia
- Israel
- Turkey
- UAE
- o Africa
- Egypt
- Nigeria
- Saudi Arabia
Asia-Pacific was the largest region in the commercial fan and air purification equipment market, accounting for 47.0% of the global market in 2019. It was followed by Western Europe and the other regions. Going forward, the fastest growing regions in the commercial fan and air purification equipment market will be Middle East and Asia Pacific, where growth will be at CAGRs of 6.6% and 5.2% respectively during 2019-2023.Page Break
Commercial Fan And Air Purification Equipment Competitive Landscape
Major Competitors are:
- • ebm-papst Group
- • Systemair
- • Sharp Corporation
- • CECO Environmental Corporation
- • Johnson Controls International plc
Other Competitors Include:
- • FlktGroup
- • Twin City Fan & Blower
- • Greenheck Fan Corporation
- • Munters
- • Volution Group plc.
- • Daikin Industries Ltd
- • LG Electronics Inc
- • Panasonic
- • Xiaomi Corporation
- • Coway
- • Samsung Electronics Co. Ltd,
- • Sunbeam Products Inc
- • YADU
- • Midea
- • Beiangtech
- • Air 0 Limited
- • Jimco A/S
- • Dry IT Out Limited
- • Air Concern Limited (ACL)
- • Bench Vent
- • Respr Technologies
- • ABIOTEC UV
- • Dyson Ltd
- • IQ Air
- • Honeywell International Inc
- • Camfil
- • Koninklijke Philips Electronics NV
- • Blue Air (Unilever)
- • Whirlpool Corp
- • Teqoya
- • Dexwet Holdings Corporation
- • Alfa Laval
- • Parker Hannifin Corporation
- • 3M
- • SPX Corporation
- • 3nine AB
- • Air Filter Systeme GmbH
- • Nederman
- • LTA Industrial Air Cleaning
- • Keller Lufttechnik GmbH + Co. KG
- • Hisense
- • Electrolux
- • Lennox International Inc
- • Air Purification Incorporated
- • Haier Group
- • Viking Range
- • Elaraby Group
- • Nordic Air Filtration