Australia Ventilation Products Market Report 2021-2030: Growing Preference for Decentralized Ventilation – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Australia Ventilation Products Market Research Report: By Usage and Product – Industry Analysis and Growth Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

The Australian ventilation products market was valued at $1,788.0 million in 2020, and it is expected to grow at a CAGR of 4.6% during 2020-2030.

The key factors responsible for the growth of the market include the growing awareness of the environmental and health effects of air pollution, rising number of commercial and residential projects, and growing preference for decentralized ventilation.

The need for ventilation products in Australia reduced in 2020, due to the low demand from various industries, such as manufacturing and construction, as a result of the lockdown enforced by the government.

The COVID-19 pandemic halted the manufacturing of a variety of ventilation products, and led to the disruption in the supply chain, owing mostly to the prolonged lockdown, which considerably restricted the growth of the industry. However, due to the increased awareness of air quality and pollution, the market is likely to overcome the unfavorable consequences in the coming years.

Commercial Category Dominated the Market in 2020

The commercial category accounted for a larger share in the Australian ventilation products market in 2020, based on usage. Rapid urbanization and economic expansion have resulted in the increasing number of malls, hospitals, and hotels, which, in turn, drives the demand for ventilation systems. Furthermore, the development of corporate centers, special economic zones (SEZs), and organized retail outlets is also propelling the market growth across the country.

Ventilation Fans Category To Witness Highest Growth Rate

The ventilation fans category is projected to register the fastest growth in the market during the forecast period, based on product. This can be attributed to the large-scale deployment of such systems in commercial offices and buildings. Further, the commencement of high-value infrastructure development projects and encouraging initiatives by the government are pushing the market growth.

Preference Toward Energy-Efficient Ventilation Systems Is a Key Market Trend

There is a surging preference for energy-efficient ventilation systems, due to factors such as high carbon emissions, rise in pollution levels, and increase in need to maintain a healthy and sustainable environment. New and better ventilation devices and systems are being developed to meet the rising air tightness standards for buildings, as people become more aware of the importance of indoor air quality.

Energy-efficient ventilation systems have a large ventilation capacity and contribute to lowering CO2 levels in buildings, avoiding the creation of an enclosed space for restaurants and other large-scale facilities, reducing the risk of infectious disease spread, and lowering commercial facility emissions.

Rising Number of Commercial and Residential Projects and Growing Preference of Decentralized Ventilation Are Driving the Market Growth

The rising number of residential and commercial projects, owing to the growing population and increasing construction industry in the country, is a major factor propelling the growth of the ventilation products market in Australia. For instance, the Australian Bureau of Statistics estimated the total construction work done rose by 0.8% to $36,415.4 million (AUD 52,875.5 million) in the June quarter of 2021. While the value of the total construction work done rose by 0.4% from June 2020 to June 2021.

Moreover, the value for work done in the residential sector was reported $13,117.9 million (AUD 19,047.4 million), while for the non-residential sector it was $7,931.1 million (AUD 11,516.1 million). Thus, the increasing infrastructure spending and the booming construction sector in the country are supporting the growth of the Australian ventilation products market.

Market Dynamics

Trends

• Energy-efficient ventilation systems
• Technological advancements in ventilation products

Drivers

• Growing awareness on environmental and health effects of air pollution
• Rising number of commercial and residential projects
• Growing preference for decentralized ventilation

Company Profiles

• Johnson Controls International PLC
• Daikin Industries Ltd.
• Mitsubishi Electric Corporation
• Air Change International Limited
• FANCO PTY. LTD.
• Elta Group
• Rosenberg Ventilatoren GmbH
• Vortice S.p.A.

For more information about this report visit https://www.researchandmarkets.com/r/abbtrm

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