A household ventilation fan represents a kind of fan that is driven by the motor to change air volume and is utilized to ventilate air in the settings of home and buildings. With such a household ventilation fan, indoor air quality can be improved and human health and belongs ensured.
In the years ahead, the areas of Asia-Pacific and South America will see a growing demand for household ventilation fan. It is expected that there will be a huge demand for household ventilation fans of more advanced types. On the global scale, the whole household ventilation fan market will be driven by increasing expenditures on the engineering industry, more fierce competition, continuous rollout of new products, and growing spending on machinery manufacturing industry, old technology retrofitting and renovation and greater awareness of the importance of household ventilation fan.
There is a low concentrated market of the household ventilation fan in the world because the technology required in manufacturing the fan is more mature than the high-tech products. Panasonic, Broan-NuTone, Delta Product, Zehnderd and some other companies are famous for their great advantages in the household ventilation fan market and their renowned services. At the same time, with a production market share of 39.96%, China is also a greater player in the household ventilation fan industry in the world.
The performance of the household ventilation fan market is closely linked with the relevant downstream industries and the recovery of the economic situation. The uncertainties in the global economy in the coming years will witness a growth rate that is not fast. But it is certain that there will still be a promising household ventilation fan market.
A report studying the trend of household ventilation fan market shows that in the coming five years, this market has sales that will be developing at the annual growth rate of 3.8% CAGR. By 2024, the market will amount to US$ 1020 million, increasing from US$ 850 million in 2019.