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Duct Fans Market is expected to be worth of US$ 162,788.1 Million and at CAGR of 6.0% by forecast period 2033 end | Future Market Insights, Inc.

North America holds the commanding share of the duct fans market with revenue of 22%. This is attributed to this region’s higher industrial growth rate, especially in the United States.

NEWARK, Del, Nov. 20, 2023 (GLOBE NEWSWIRE) — The duct fans market is projected to be valued at US$ 96,354.0 million in 2023 and is expected to rise to US$ 162,788.1 million by 2033. The sales of duct fans are expected to register a significant CAGR of 6.0% during the forecast period.

The duct fans market is a critical segment of the ventilation and air circulation industry, providing essential solutions for efficient airflow and optimal indoor air quality.

Duct fans, also known as inline fans or duct boosters, are widely used in various residential, commercial, and industrial applications. They are vital in ensuring proper ventilation, removing pollutants, and controlling temperature and humidity levels in enclosed spaces.

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Rapid urbanization, industrialization, and the construction boom in emerging economies drive the market’s growth. As urban spaces expand, the need for effective ventilation solutions becomes more pronounced. Additionally, the increasing awareness of indoor air quality and its impact on health has led to a rise in demand for duct fans that can efficiently remove contaminants and maintain a healthier indoor environment.

In the commercial and industrial sectors, duct fans find diverse applications in HVAC systems, exhaust ventilation, kitchen exhaust hoods, and process cooling. In agricultural and horticultural settings, they are used in grow rooms and greenhouses to regulate airflow and temperature for optimal crop growth.

Technological advancements have also played a significant role in shaping the duct fans market. Manufacturers continually innovate to develop energy-efficient models with smart controls and variable speed options, catering to consumers’ demand for cost-effective and environmentally friendly solutions.

The duct fans market is expected to grow as the world moves towards more sustainable practices. Governments and organizations are increasingly implementing regulations and standards to encourage the adoption of energy-efficient ventilation systems, further propelling the demand for duct fans.

MCCB leads the duct fans market with a share of 28.6%. Molded case circuit breakers play a crucial role in ensuring safety and protection in electrical systems, contributing significantly to the reliability and performance of duct fan systems.

Commercial end users hold a significant share of 26.6% in the duct fans market. The demand for efficient duct fans in commercial spaces like offices, malls, hotels, and educational institutions is driven by the need for proper ventilation and improved indoor air quality.

North America dominates the duct fans market with a commanding share of 22%. The United States holds a strong foothold with a value share of 16.6%, thanks to higher industrial growth rates and favorable government policies.

Europe holds the second-leading share of the duct fans market with revenue of 19%. Germany has a 9.5% value share due to rapid adoption, expanding infrastructure, and increased domestic production capacity.

India showcases an impressive 6.5% CAGR and has experienced significant growth due to infrastructure development, increasing indoor air quality awareness, and adopting energy-efficient solutions. As economic growth and urbanization continue, the market is expected to thrive, contributing to healthier and more sustainable indoor environments.

“The market study conducted by our research team highlights the growing significance of duct fans in various industrial and residential applications. Through meticulous analysis, we’ve identified a notable surge in demand for duct fans owing to their energy efficiency and enhanced airflow capabilities.”Says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.

Recent Developments

The Industrial Enterprise Hygiene Standards The Ministry of Health designed and implemented the code TJ36-1979, which focuses on dust requirements for various manufacturing processes. Similarly, the Chinese Ministry of Construction and the China State Quality Supervision-Inspection-Quarantine Administration enacted GB 50325-2001, focusing on managing indoor air quality in domestic structures.

According to the International Finance Corporation, investments of US$ 3.4 billion in FQ-2018 and US$ 1.4 billion from other investors are expected to aid East Asia and the Pacific in their financial expansion.

Scope of the Report:

Attribute Details
Growth Rate CAGR of 6.0% from 2023 to 2033
Base Year of Estimation 2023
Historical Data 2018 to 2022
Forecast Period 2023 to 2033
Quantitative Units Revenue in US$ million and Volume in Units and F-CAGR from 2023 to 2033
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis
Key Segments Covered
  • Product Type
  • Shape
  • End-use industry
  • By Region
Regions Covered
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • The Middle East & Africa
  • Oceania
Key Countries Profiled
  • The United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • The United Kingdom
  • Spain
  • Russia
  • China
  • Japan
  • India
  • GCC Countries
  • Australia
Key Companies Profiled Systemair AB, Acme Engineering & Manufacturing Corp., Air System Components Inc., Airmaster Fan Company Inc., Continental Blower LLC, CECO Environmental, Crompton Greaves Limited, DongKun Industrial Co. Ltd., Flakt Woods Group SA, Robinson Fans, Twin City Fan Companies, Greenheck Fan Corporation, Nortek Air Solutions, Johnson Controls, Loren Cook, FläktGroup, Soler & Palau, Polypipe Ventilation, Nanfang Ventilator, Continental Fan Manufacturing Inc., Ebara Corporation, Elta Fans, Ferrari Ventilatori Industriali S.p.A, Formula Air, etc.

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Key Segments Covered in the Market Report

By Product Type:

  • Centrifugal Fans
  • Axial Fans
  • Cross-flow Fans

By Shape:

  • Circular
  • Rectangular
  • Square

By End User:

  • Residential
  • Commercial
  • Industrial

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East & Africa (MEA)

Author By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Originally published at https://www.einpresswire.com/article/669802642/duct-fans-market-is-expected-to-be-worth-of-us-162-788-1-million-and-at-cagr-of-6-0-by-forecast-period-2033-end-future-market-insights-inc

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