International. The global ventilation equipment market will reach $25 billion in revenue in 2017 and is estimated to reach $40 billion by 2025, expanding at a compound annual growth rate of 5.5 percent (CAGR), according to a recent report by Persistence Market Research (PMR).
Air pollution levels have increased exponentially in the recent past, resulting in an increase in cases of asthma and chronic obstructive pulmonary disorders (COPD). According to the World Health Organization (WHO), more than 3 million premature deaths are reported each year through respiratory conditions. In addition, according to Nature Journal, the PM 2.5 and PM 10 particle sizes present in the air are inhaled deep into the lungs, leading to incidents of strokes and heart attacks.
Therefore rigorous government and environmental regulations have been implemented due to the growing concern for the health and safety of the industrial workforce. These factors are estimated to drive the growth of the market.
However, the report indicates that over-marketing by new entrants has resulted in confusion among customers. Variety of options, sizes and prices offered by these players have been misleading for customers in purchasing ventilation products. This is expected to spread mistrust and hinder the adoption of ventilation products, especially in developing economies, where a lack of awareness of these products still persists.
Depending on the type of equipment, air filters are expected to continue to be sought after among end users, followed by air purifiers. By 2025, the demand for air filters in the market is projected to exceed 8 million units, expanding by 5.3 percent CAGR in terms of volume. In addition, sales of axial fans are projected to exhibit the second highest CAGR through 2025.
