Global Ventilation Fan Market Report and Forecast 2025-2034

Global Ventilation Fan Market Outlook

The global ventilation fan market size reached approximately USD 3.16 billion in 2023. The market is further projected to grow at a CAGR of 7.3% between 2024 and 2032, reaching a value of USD 6.00 billion by 2032.

Key Trends in the Market

Ventilation fans are used for ventilating residential, commercial, and industrial spaces. These fans create an airflow by rotating the fan blades with the help of an electric motor. They remove unwanted odours, smoke, stale air, and humidity out from the commercial and residential spaces, allowing for a comfortable experience for the residents and visitors. These fans aid in provision of proper ventilation in homes, ensuring the health of the individuals.

• The Lack of proper ventilation systems in houses can exacerbate various health conditions including asthma and degrade indoor air quality, aggravating or triggering allergies. Additionally, elimination of excessive moisture from the air prevents the growth and development of mildews and moulds. The increasing awareness about such benefits is boosting the ventilation fan market growth.

• The expansion of the healthcare sector is providing lucrative growth opportunities to the market. Ventilation fans assist in the removal of infected and stale air from treatment areas and patient rooms, among other sections of the hospital facility, aiding in reduction of airborne pollutants. This is especially necessary in the surroundings of patients with weakened and compromised immune systems due to different diseases and disorders or treatments.

• Growing preference for small and affordable housings in metropolitan areas due to increasing commuting expenses and traffic are propelling the ventilation fan market demand as such housings and apartments lack efficient air circulation systems due to limited window configurations. Narrow floor plans and densely populated living spaces can also result in the high concentration of air pollutants and irritants, contributing to decreased air quality.

Market Segmentation

On the basis of product type, the market is divided into centrifugal fans, axial fans, cross flow fans, domestic exhaust fans, power roof fans, and range hood fans. Based on deployment, the market is segregated into wall, ceiling, and inline, among others.

On the basis of materials, the market is classified into plastic, metal, and alloy. Based on application, the market is segmented into industrial, residential, and commercial. On the basis of distribution channel, the ventilation fan market segmentation includes offline and online.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Mitsubishi Electric Corporation 

• Panasonic Holdings Corp. 

• Crompton Greaves Consumer Electricals Limited 

• Delta Electronics, Inc. 

• Havells India Ltd. 

• Rexnord Electronic & Control Ltd. 

• Volution Group Plc 

• Systemair AB 

• Continental Fan Manufacturing Inc. 

• Surya Roshni Ltd.  

• Others

Market Share by Product Type

As per the ventilation fan market analysis, Axial fans are anticipated to witness an increased demand over the forecast period owing to their ability to generate significant airflow rates, provide variable speeds, and produce low noise as opposed to other industrial ventilation fans. These fans find applications in ventilation of laundries, warehouses, garages, and factories, among others.

Market Share by Region

The Asia Pacific is anticipated to hold a significant ventilation fan market share owing to the prominent presence of various major manufacturers including Mitsubishi Electric Corporation, Panasonic Holdings Corp., Crompton Greaves Consumer Electricals Limited, Delta Electronics, Inc., and Havells India Ltd., among others. The growing awareness about the various benefits of associated with the maintenance of indoor air quality due to utilisation of Continuous Emission Monitoring Systems is resulting in an increased demand for ventilation fans.

The expansion of the ventilation fan industry in the Asia Pacific region is further supported by the increasing knowledge about the negative effects of prolonged exposure to indoor air pollutants including the development of Sick Building Syndrome, which could result in decreased productivity.

In India, the contribution of IAP to AAP is estimated to vary between 22% and 52% as per the United Nations Environment Programme. The control measures for IAP include exposure control, source management, and adoption of proper ventilation systems. The primary pollutants in rural households using biomass include PM, BC, and CO, while additional pollutants include VOCs.

Competitive Landscape

Mitsubishi Electric Corporation is one of the leading electricals and electronic equipment manufacturing companies that was founded in 1921 and is headquartered in Tokyo, Japan. The company’s product portfolio includes ventilation fans, information and communication systems, and industrial automation systems, among others.

Panasonic Holdings Corp. is a multinational electronics manufacturing company that was founded in 1918 and is headquartered in Osaka, Japan. The company provides a wide range of integrated solutions for different sectors including energy, automotive, and avionics, among others.

Crompton Greaves Consumer Electricals Limited is an electrical equipment manufacturing company that was founded in 1937 and is headquartered in Mumbai, India. The company specialises in ventilation fans, kitchen appliances, water heaters, and air coolers, among others.

Other ventilation fan market players include Delta Electronics, Inc., Havells India Ltd., Rexnord Electronic & Control Ltd., Volution Group Plc, Systemair AB, Continental Fan Manufacturing Inc., and Surya Roshni Ltd., among others.

Key Highlights of the Report