The latest market report published by Credence Research, Inc. “Global Power Roof Fans Market: Growth, Prospects, and Competitive Analysis, 2016 – 2030“. The global power roof fans market generated revenue of around USD 12484.5 million in 2022 and is anticipated to grow a CAGR of over 5.00% during the forecast period from 2018 to 2030 to reach around USD 17566.95 million in 2030.
The construction industry has a significant impact on power roof fan demand. As construction activity expands, particularly in emerging nations, the need for power roof fans will likely increase. Furthermore, the importance of indoor air quality and its effects on health and welfare are becoming well known. Thus, there is a great need for power roof fans, which may enhance air circulation and filtration. The power roof fans market also benefits from technological advancements, including developing intelligent control systems and sensors that may enhance performance and reduce energy use. The need for HVAC systems is also rising due to the increased focus on energy conservation, the necessity to follow building norms and regulations, and the desire for greater comfort and convenience indoors. However, some individuals and businesses might hesitate to buy power roof fans because of the high installation costs. The negative air pressure produced by powerful roof fans could also affect the health and safety of building occupants.
The global power roof fans market is segmented into type, distribution channel, end-user, size, and geography. Based on type, the power roof fans market is categorized into standard fan, decorative fan, high speed fan, energy saving fan, and others. Based on distribution channel, the global market is segmented into multibrand stores, exclusive stores, online and other distribution channels. Based on end-user, the market is categorized into residential and commercial. Based on size, the market is categorized into small, medium and large. Based on geography, the power roof fans market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2022, Asia Pacific is expected to occupy the largest power roof fans market share in revenue and sales. Some of the factors propelling the expansion of the power roof fan market in Asia Pacific include the need for improved indoor air quality in densely populated urban regions and the increased need for energy-efficient solutions. Due to countries like China, India, and Japan, the Asia Pacific power roof fan market is predicted to expand quickly. These countries focus more on ventilation systems and other air quality control measures due to their high population densities and serious air pollution problems.
The global power roof fans market is highly fragmented with the presence of a large number of players. The key players in the market are focusing on strategies such as mergers and acquisitions, product innovation, and expansion to gain a competitive edge in the market. For instance, in January 2018, Big Ass Fans acquired HVLS Fan Co., a leading provider of high-volume low-speed fans. This acquisition helped Big Ass Fans to expand its product portfolio and enter into new markets. Some of the other major players operating in the global power roof fans market are Greenheck Fan Corporation, Loren Cook Company, Twin City Fan Companies, Inc., and Ziehl-Abegg SE.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global power roof fans by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global power roof fans segmentation based on type, distribution channel, end-user, size and regional integration.
- The global power roof fans report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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