Ventilation Fan Market Strategies and Share 2031
The ventilation fan market size is projected to reach US$ 5.38 billion by 2031 from US$ 2.87 billion in 2023. The market is expected to register a CAGR of 8.9% during 2023–2031. Integration of IoT in ventilation fans is likely to remain a key trend in the market.
Ventilation Fan Market Analysis
The ventilation fan maintains exceptional indoor air quality by diluting and removing pollutants created inside a space, which is a key contributor to the comfort and health of building occupants and is a major supplier to the comfort and health of the building inhabitants. These solutions can be used to remove pollutants and bacteria while also reducing odor and moisture. Small apartments have a limited number of windows, which prevents adequate air circulation. Additionally, compact floor layouts with inadequate control over specific irritants and more concentrations of pollutants in every room lead to poor air quality in these settings.
Ventilation Fan Market Overview
Ventilation fans emit air from a space; however, they do not expel air outside. These fans cycle existing air back into the space or bring in external air from outside through ducting. Ventilation fans can reduce energy costs as they circulate clean air throughout the room and are more cost-effective as they don't require additional venting components. With all this in mind, it is clear that understanding how exhaust and ventilation fans differ is essential when selecting a fan suitable for your requirements. The term ventilation fans or roof fans is used to ventilate an industrial or commercial area by providing workers with fresh air in an enclosed area. These fans circulate air from outside through the building, providing a fresh source of oxygenated and revitalized air. Ventilation fans are advantageous and necessary for enhancing air quality within a workspace. A lack of sufficient ventilation leads to stagnant air, breathing difficulties, and other health issues, such as dizziness and nausea. This is why ventilation fans are crucial in maintaining clean air.
Industrial and manufacturing facilities are frequently prone to a variety of hazardous substances, which range from gases to airborne particles and smoke, fumes, and vapors; such particles can be dangerous to the environment. Continuous exposure to these hazardous particles can lead to headaches, eye irritation, chest pains, siderosis, cancer, and pulmonary edema. The importance of safety when working with these hazardous chemicals cannot be overstated, and protocols must be followed to ensure no accidental exposures. Ensuring adequate ventilation when working with and storing these hazardous materials is essential to prevent the accumulation of hazardous vapors. Inhaling chemical fuels can lead to profound health implications, which is why industrial ventilation exhausts are designed with a vacuum that captures these substances. Therefore, the ventilation fan market growth is increasing significantly.
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Ventilation Fan Market: Strategic Insights
Market Size Value in US$ 2.61 billion in 2022 Market Size Value by US$ 4.9 billion by 2030 Growth rate CAGR of 8.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Ventilation Fan Market: Strategic Insights
| Market Size Value in | US$ 2.61 billion in 2022 |
| Market Size Value by | US$ 4.9 billion by 2030 |
| Growth rate | CAGR of 8.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Ventilation Fan Market Drivers and Opportunities
The Expanding Construction to Favor Market
The construction industry is expanding worldwide due to the increasing number of residential projects, the liberalization of commercial projects by regulatory bodies, and the financing of larger projects. New York's Hudson Yards is the largest construction site in American history, according to a release from a regulatory agency. Commercial construction is also increasing owing to the major construction projects, including new campuses for high-tech giants such as Apple Inc., Google, and Amazon, building increased distribution centers and warehouses. Projects in urban areas, such as smart construction and green construction, are also increasing rapidly. The growth of the construction industry leads to the increasing demand for the ventilation fan market. Ventilation fans have become an essential component in the construction industry. The construction industry is not considered an important service sector, and the governments of various countries have not assisted with such projects.
Growing
application in Industrial and Commercial Setting
Ventilation fans are a crucial component of the air supply ventilation system used to regulate air quality by reducing fumes, dust, and contaminants generated by various activities. Ventilation fans allow fresh air circulation to provide a safer and healthier workplace for employees. Ventilation fans maintain a healthy and productive environment by utilizing low-quality air and introducing clean air into a facility. Additionally, various facilities can benefit greatly from these ventilation solutions, ensuring a fresh and safe atmosphere for visitors. Maintaining a healthy and productive environment by increasing the quality of air and introducing clean air into a facility. Additionally, various facilities can benefit greatly from these ventilation solutions, ensuring a fresh and safe atmosphere for people. Thus, such a growing application of ventilation fans creates a lucrative opportunity for the growth of the market.
Ventilation Fan Market Report Segmentation Analysis
Key segments that contributed to the derivation of the ventilation fan market analysis are product type, installation, and applications.
- Based on the product type, the ventilation fan market is divided into axial fans, centrifugal fans, and propeller fans.
- By installation, the market is segmented into wall mounted roof mounted.
- In terms of applications, the market is segmented into residential, commercial, and industrial.
Ventilation Fan Market Share Analysis by Geography
The geographic scope of the ventilation fan market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific is estimated to be the fastest growing region in the fan market due to rising disposable income and high standard of living. People are gravitating towards smart and high-tech construction in the Asia-Pacific region, mainly in developing countries. The increase in disposable income will lead to a middle-class population in the area of 4,444 inhabitants. People in the region are more conscious about their health, which increases the demand for the ventilators market as they improve the indoor air quality of the building. Fans also help maintain the temperature in the area, which further increases the market in the area.
Ventilation Fan Market Report Scope
Ventilation Fan Market News and Recent Developments
The ventilation fan market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the ventilation fan market are listed below:
- Emb-Papst Group, a manufacturer of motors and fans, announced plans to establish a new production plant in the US, with a US$ 30 million investment to produce highly efficient fans and motors. This second factory expansion will strengthen Ebm Papstl's presence in North America for future ventilation fan market growth in sustainable refrigeration, ventilation applications, and air conditioning. (Source: Emb-Papst Group, November 2022)
- Johnson Controls invested USD 7.5 million into new automation equipment at Oklahoma's commercial Heat ventilation and air conditioning manufacturing plant. This new equipment will improve capacity while enhancing product quality, safety, and assembly productivity at the 900,000 sq. ft facility, called the Johnson Controls Rooftop Center of Excellence. (Source: Johnson Controls, October 2023)
Ventilation Fan Market Report Coverage and Deliverables
The “Ventilation Fan Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Ventilation fan market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Ventilation fan market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Ventilation fan market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the ventilation fan market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Installation, Applications, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The market is expected to register a CAGR of 8.9% during 2023–2031.
The global ventilation fan market is expected to reach US$ 5.38 billion by 2031.
Integration of IoT in ventilation fans to play a significant role in the global cryocoolers market in the coming years.
The leading players operating in the global ventilation fan market are Delta Electronics, Inc., Fuji Electric Co., Ltd, Greenwood Airvac, Mitsubishi Electric Corporation, Nortek Air Solutions, LLC, Panasonic Corporation, Polypipe Limited, Systemair AB, Titon, Vent-Axia, KAFF, Havells, Orient Electric, Protan AS, GM Modular Pvt. Ltd, Panasonic, Wadbros Imports & Exports, Suzhou Blauberg Motoren Technology Co., Ltd, American Aldes Ventilation Corporation, and Kruger Ventilation.
The expanding construction is the major factors that propel the global ventilation fan market.
Asia Pacific dominated the ventilation fan market in 2023.
TABLE OF CONTENTS
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Ventilation Fan Market - By Product Type
1.3.2Ventilation Fan Market - By Installation
1.3.3Ventilation Fan Market - By Applications
1.3.4Ventilation Fan Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.VENTILATION FAN MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTEr's FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.VENTILATION FAN MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.VENTILATION FAN MARKET - GLOBAL MARKET ANALYSIS
6.1.VENTILATION FAN - GLOBAL MARKET OVERVIEW
6.2.VENTILATION FAN - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.VENTILATION FAN MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1.OVERVIEW
7.2.PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3.AXIAL FANS
7.3.1.Overview
7.3.2.Axial Fans Market Forecast and Analysis
7.3.3.Propeller Market
7.3.3.1.Overview
7.3.3.2.Propeller Market Forecast and Analysis
7.3.4.Tube Axial Market
7.3.4.1.Overview
7.3.4.2.Tube Axial Market Forecast and Analysis
7.3.5.Vane Axial Market
7.3.5.1.Overview
7.3.5.2.Vane Axial Market Forecast and Analysis
7.4.CENTRIFUGAL FANS
7.4.1.Overview
7.4.2.Centrifugal Fans Market Forecast and Analysis
7.4.3.Forward Inclined Blade Market
7.4.3.1.Overview
7.4.3.2.Forward Inclined Blade Market Forecast and Analysis
7.4.4.Backward Inclined Blades Market
7.4.4.1.Overview
7.4.4.2.Backward Inclined Blades Market Forecast and Analysis
7.4.5.Straight Radial Blades Market
7.4.5.1.Overview
7.4.5.2.Straight Radial Blades Market Forecast and Analysis
8.VENTILATION FAN MARKET - REVENUE AND FORECASTS TO 2028 - INSTALLATION
8.1.OVERVIEW
8.2.INSTALLATION MARKET FORECASTS AND ANALYSIS
8.3.WALL MOUNTED
8.3.1.Overview
8.3.2.Wall Mounted Market Forecast and Analysis
8.4.ROOF MOUNTED
8.4.1.Overview
8.4.2.Roof Mounted Market Forecast and Analysis
9.VENTILATION FAN MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATIONS
9.1.OVERVIEW
9.2.APPLICATIONS MARKET FORECASTS AND ANALYSIS
9.3.RESIDENTIAL
9.3.1.Overview
9.3.2.Residential Market Forecast and Analysis
9.4.COMMERCIAL
9.4.1.Overview
9.4.2.Commercial Market Forecast and Analysis
9.4.3.Hotels and Restaurants Market
9.4.3.1.Overview
9.4.3.2.Hotels and Restaurants Market Forecast and Analysis
9.4.4.Malls and Shopping Centers Market
9.4.4.1.Overview
9.4.4.2.Malls and Shopping Centers Market Forecast and Analysis
9.4.5.Hospitals and Medical Centers Market
9.4.5.1.Overview
9.4.5.2.Hospitals and Medical Centers Market Forecast and Analysis
9.4.6.Warehouses and Garage Market
9.4.6.1.Overview
9.4.6.2.Warehouses and Garage Market Forecast and Analysis
9.4.7.Others Market
9.4.7.1.Overview
9.4.7.2.Others Market Forecast and Analysis
9.5.INDUSTRIAL
9.5.1.Overview
9.5.2.Industrial Market Forecast and Analysis
9.5.3.Oil and Gas Market
9.5.3.1.Overview
9.5.3.2.Oil and Gas Market Forecast and Analysis
9.5.4.Automotive Market
9.5.4.1.Overview
9.5.4.2.Automotive Market Forecast and Analysis
9.5.5.Food and Beverage Processing Market
9.5.5.1.Overview
9.5.5.2.Food and Beverage Processing Market Forecast and Analysis
9.5.6.Chemical Market
9.5.6.1.Overview
9.5.6.2.Chemical Market Forecast and Analysis
9.5.7.Industrial Manufacturing Market
9.5.7.1.Overview
9.5.7.2.Industrial Manufacturing Market Forecast and Analysis
9.5.8.Others Market
9.5.8.1.Overview
9.5.8.2.Others Market Forecast and Analysis
10.VENTILATION FAN MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Ventilation Fan Market Overview
10.1.2North America Ventilation Fan Market Forecasts and Analysis
10.1.3North America Ventilation Fan Market Forecasts and Analysis - By Product Type
10.1.4North America Ventilation Fan Market Forecasts and Analysis - By Installation
10.1.5North America Ventilation Fan Market Forecasts and Analysis - By Applications
10.1.6North America Ventilation Fan Market Forecasts and Analysis - By Countries
10.1.6.1United States Ventilation Fan Market
10.1.6.1.1United States Ventilation Fan Market by Product Type
10.1.6.1.2United States Ventilation Fan Market by Installation
10.1.6.1.3United States Ventilation Fan Market by Applications
10.1.6.2Canada Ventilation Fan Market
10.1.6.2.1Canada Ventilation Fan Market by Product Type
10.1.6.2.2Canada Ventilation Fan Market by Installation
10.1.6.2.3Canada Ventilation Fan Market by Applications
10.1.6.3Mexico Ventilation Fan Market
10.1.6.3.1Mexico Ventilation Fan Market by Product Type
10.1.6.3.2Mexico Ventilation Fan Market by Installation
10.1.6.3.3Mexico Ventilation Fan Market by Applications
10.2.EUROPE
10.2.1Europe Ventilation Fan Market Overview
10.2.2Europe Ventilation Fan Market Forecasts and Analysis
10.2.3Europe Ventilation Fan Market Forecasts and Analysis - By Product Type
10.2.4Europe Ventilation Fan Market Forecasts and Analysis - By Installation
10.2.5Europe Ventilation Fan Market Forecasts and Analysis - By Applications
10.2.6Europe Ventilation Fan Market Forecasts and Analysis - By Countries
10.2.6.1Germany Ventilation Fan Market
10.2.6.1.1Germany Ventilation Fan Market by Product Type
10.2.6.1.2Germany Ventilation Fan Market by Installation
10.2.6.1.3Germany Ventilation Fan Market by Applications
10.2.6.2France Ventilation Fan Market
10.2.6.2.1France Ventilation Fan Market by Product Type
10.2.6.2.2France Ventilation Fan Market by Installation
10.2.6.2.3France Ventilation Fan Market by Applications
10.2.6.3Italy Ventilation Fan Market
10.2.6.3.1Italy Ventilation Fan Market by Product Type
10.2.6.3.2Italy Ventilation Fan Market by Installation
10.2.6.3.3Italy Ventilation Fan Market by Applications
10.2.6.4United Kingdom Ventilation Fan Market
10.2.6.4.1United Kingdom Ventilation Fan Market by Product Type
10.2.6.4.2United Kingdom Ventilation Fan Market by Installation
10.2.6.4.3United Kingdom Ventilation Fan Market by Applications
10.2.6.5Russia Ventilation Fan Market
10.2.6.5.1Russia Ventilation Fan Market by Product Type
10.2.6.5.2Russia Ventilation Fan Market by Installation
10.2.6.5.3Russia Ventilation Fan Market by Applications
10.2.6.6Rest of Europe Ventilation Fan Market
10.2.6.6.1Rest of Europe Ventilation Fan Market by Product Type
10.2.6.6.2Rest of Europe Ventilation Fan Market by Installation
10.2.6.6.3Rest of Europe Ventilation Fan Market by Applications
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Ventilation Fan Market Overview
10.3.2Asia-Pacific Ventilation Fan Market Forecasts and Analysis
10.3.3Asia-Pacific Ventilation Fan Market Forecasts and Analysis - By Product Type
10.3.4Asia-Pacific Ventilation Fan Market Forecasts and Analysis - By Installation
10.3.5Asia-Pacific Ventilation Fan Market Forecasts and Analysis - By Applications
10.3.6Asia-Pacific Ventilation Fan Market Forecasts and Analysis - By Countries
10.3.6.1Australia Ventilation Fan Market
10.3.6.1.1Australia Ventilation Fan Market by Product Type
10.3.6.1.2Australia Ventilation Fan Market by Installation
10.3.6.1.3Australia Ventilation Fan Market by Applications
10.3.6.2China Ventilation Fan Market
10.3.6.2.1China Ventilation Fan Market by Product Type
10.3.6.2.2China Ventilation Fan Market by Installation
10.3.6.2.3China Ventilation Fan Market by Applications
10.3.6.3India Ventilation Fan Market
10.3.6.3.1India Ventilation Fan Market by Product Type
10.3.6.3.2India Ventilation Fan Market by Installation
10.3.6.3.3India Ventilation Fan Market by Applications
10.3.6.4Japan Ventilation Fan Market
10.3.6.4.1Japan Ventilation Fan Market by Product Type
10.3.6.4.2Japan Ventilation Fan Market by Installation
10.3.6.4.3Japan Ventilation Fan Market by Applications
10.3.6.5South Korea Ventilation Fan Market
10.3.6.5.1South Korea Ventilation Fan Market by Product Type
10.3.6.5.2South Korea Ventilation Fan Market by Installation
10.3.6.5.3South Korea Ventilation Fan Market by Applications
10.3.6.6Rest of Asia-Pacific Ventilation Fan Market
10.3.6.6.1Rest of Asia-Pacific Ventilation Fan Market by Product Type
10.3.6.6.2Rest of Asia-Pacific Ventilation Fan Market by Installation
10.3.6.6.3Rest of Asia-Pacific Ventilation Fan Market by Applications
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Ventilation Fan Market Overview
10.4.2Middle East and Africa Ventilation Fan Market Forecasts and Analysis
10.4.3Middle East and Africa Ventilation Fan Market Forecasts and Analysis - By Product Type
10.4.4Middle East and Africa Ventilation Fan Market Forecasts and Analysis - By Installation
10.4.5Middle East and Africa Ventilation Fan Market Forecasts and Analysis - By Applications
10.4.6Middle East and Africa Ventilation Fan Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Ventilation Fan Market
10.4.6.1.1South Africa Ventilation Fan Market by Product Type
10.4.6.1.2South Africa Ventilation Fan Market by Installation
10.4.6.1.3South Africa Ventilation Fan Market by Applications
10.4.6.2Saudi Arabia Ventilation Fan Market
10.4.6.2.1Saudi Arabia Ventilation Fan Market by Product Type
10.4.6.2.2Saudi Arabia Ventilation Fan Market by Installation
10.4.6.2.3Saudi Arabia Ventilation Fan Market by Applications
10.4.6.3U.A.E Ventilation Fan Market
10.4.6.3.1U.A.E Ventilation Fan Market by Product Type
10.4.6.3.2U.A.E Ventilation Fan Market by Installation
10.4.6.3.3U.A.E Ventilation Fan Market by Applications
10.4.6.4Rest of Middle East and Africa Ventilation Fan Market
10.4.6.4.1Rest of Middle East and Africa Ventilation Fan Market by Product Type
10.4.6.4.2Rest of Middle East and Africa Ventilation Fan Market by Installation
10.4.6.4.3Rest of Middle East and Africa Ventilation Fan Market by Applications
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Ventilation Fan Market Overview
10.5.2South and Central America Ventilation Fan Market Forecasts and Analysis
10.5.3South and Central America Ventilation Fan Market Forecasts and Analysis - By Product Type
10.5.4South and Central America Ventilation Fan Market Forecasts and Analysis - By Installation
10.5.5South and Central America Ventilation Fan Market Forecasts and Analysis - By Applications
10.5.6South and Central America Ventilation Fan Market Forecasts and Analysis - By Countries
10.5.6.1Argentina Ventilation Fan Market
10.5.6.1.1Argentina Ventilation Fan Market by Product Type
10.5.6.1.2Argentina Ventilation Fan Market by Installation
10.5.6.1.3Argentina Ventilation Fan Market by Applications
10.5.6.2Rest of South and Central America Ventilation Fan Market
10.5.6.2.1Rest of South and Central America Ventilation Fan Market by Product Type
10.5.6.2.2Rest of South and Central America Ventilation Fan Market by Installation
10.5.6.2.3Rest of South and Central America Ventilation Fan Market by Applications
11.INDUSTRY LANDSCAPE
11.1.MERGERS AND ACQUISITIONS
11.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3.NEW PRODUCT LAUNCHES
11.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12.VENTILATION FAN MARKET, KEY COMPANY PROFILES
12.1.DELTA ELECTRONICS, INC.,
12.1.1.Key Facts
12.1.2.Business Description
12.1.3.Products and Services
12.1.4.Financial Overview
12.1.5.SWOT Analysis
12.1.6.Key Developments
12.2.FUJI ELECTRIC CO., LTD
12.2.1.Key Facts
12.2.2.Business Description
12.2.3.Products and Services
12.2.4.Financial Overview
12.2.5.SWOT Analysis
12.2.6.Key Developments
12.3.GREENWOOD AIRVAC
12.3.1.Key Facts
12.3.2.Business Description
12.3.3.Products and Services
12.3.4.Financial Overview
12.3.5.SWOT Analysis
12.3.6.Key Developments
12.4.MITSUBISHI ELECTRIC CORPORATION
12.4.1.Key Facts
12.4.2.Business Description
12.4.3.Products and Services
12.4.4.Financial Overview
12.4.5.SWOT Analysis
12.4.6.Key Developments
12.5.NORTEK AIR SOLUTIONS, LLC
12.5.1.Key Facts
12.5.2.Business Description
12.5.3.Products and Services
12.5.4.Financial Overview
12.5.5.SWOT Analysis
12.5.6.Key Developments
12.6.PANASONIC CORPORATION
12.6.1.Key Facts
12.6.2.Business Description
12.6.3.Products and Services
12.6.4.Financial Overview
12.6.5.SWOT Analysis
12.6.6.Key Developments
12.7.POLYPIPE LIMITED
12.7.1.Key Facts
12.7.2.Business Description
12.7.3.Products and Services
12.7.4.Financial Overview
12.7.5.SWOT Analysis
12.7.6.Key Developments
12.8.SYSTEMAIR AB
12.8.1.Key Facts
12.8.2.Business Description
12.8.3.Products and Services
12.8.4.Financial Overview
12.8.5.SWOT Analysis
12.8.6.Key Developments
12.9.TITON
12.9.1.Key Facts
12.9.2.Business Description
12.9.3.Products and Services
12.9.4.Financial Overview
12.9.5.SWOT Analysis
12.9.6.Key Developments
12.10.VENT-AXIA
12.10.1.Key Facts
12.10.2.Business Description
12.10.3.Products and Services
12.10.4.Financial Overview
12.10.5.SWOT Analysis
12.10.6.Key Developments
13.APPENDIX
13.1.ABOUT THE INSIGHT PARTNERS
13.2.GLOSSARY OF TERMS
The List of Companies
1. Delta Electronics, Inc.,
2. Fuji Electric Co., Ltd
3. Greenwood Airvac
4. Mitsubishi Electric Corporation
5. Nortek Air Solutions, LLC
6. Panasonic Corporation
7. Polypipe Limited
8. Systemair AB
9. Titon
10. Vent-Axia
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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