Duct Fans Market

Duct Fans Market Overview

The global Duct Fans Market size was valued at USD 96.32 billion in 2023 and is predicted to reach USD 144.83 billion by 2030 with a CAGR of 6.0% from 2024-2030. Duct fans market includes the industrial sector that is involved in the design, production, and distribution of ventilated fans that is an essential component in heating, ventilation, and air conditioning (HVAC) systems. 

These fans help in regulating airflow, improve air quality, and maintain optimal temperature and humidity levels. The advantage of these fans lies in its ability to offer improved air circulation, reduce energy consumption and contribute to healthier living and working conditions. The market aids in supporting the emerging demand for efficient and sustainable HVAC solutions in various residential, commercial and industrial sectors.

Market Dynamics and Trends

The surge in installation of HVAC systems by residential, commercial and industrial buildings necessities the need for efficient air distribution within the HVAC system, thereby propelling the market growth. The report published by the Next move Strategy Consulting (NMSC) states that global HVAC systems market is valued at around USD 209.37 billion in 2023 and is expected to reach around USD 332.17 billion by 2030. 

Duct fans help in the evenly distribution of conditioned air throughout the duct work, ensuring consistent temperature and air circulation that boosts its market growth. Additionally, the rapid industrialization increases the demand for efficient ventilation system to regulate temperature, remove contaminants and ensure safe working condition for employees that drives the duct fans market growth. 

As per the report published by the United Nations Industrial Development Organization (UNIDO) 2023, there is a global rise of industrial sector growth by 2.3% that includes the manufacturing, electricity, and other industrial sectors.

This surge in industrialisation reflects about the rise in the generation of heat and pollutants that propels the adoption of duct fans to maintain optimal air quality. Furthermore, the surge in construction industry necessities the need for efficient ventilation system by newly constructed buildings to maintain comfortable indoor environment.

According to the latest report of the World Bank states that the construction industry is growing at a flourishing rate witnessing a growth of 24% from USD 22.32 trillion in 2020 to USD 27.76 trillion in 2022. This expansion of the construction sector indicates the growing demand for effective air circulation, temperature regulation, and ventilation that accelerates the growth of duct fans market.

However, adequate space is required for the installation of duct fans that restrains the market growth. Additionally, there is availability of compact and efficient HVAC system such as exhaust fan that further hinders the overall growth of the market due to growing preference for compact by consumers and enterprises.

On the contrary, the integration of smart controls and intelligent monitoring systems in duct fans increase the operational efficiency and user convenience seeking advanced HVAC solutions. Through remote operation, scheduling, and real time performance optimization aids to streamline maintenance and energy management. This technological advancement to enhance the functionality and efficiency of the ductwork is expected to create ample opportunities for the market growth in the upcoming years.

Market Segmentations and Scope of the Study 

The duct fans market report is divided on the basis of product type, size, installation type, end users and region. On the basis of product type the market is divided into centrifugal fans, axial fans, cross-flow fans and others. Based on size the market is divided into small, medium, and large. On the basis of installation type, the market is bifurcated into wall mounted, ceiling mounted, and inline. On the basis of end users, the market is divided into residential, commercial, and industrial. Regional breakdown and analysis of each of the aforesaid segments comprising of North America, Europe, Asia-Pacific, and RoW. 

Geographical Analysis

North America dominates the duct fans market share during the forecast period. This is attributed to the escalating pollution level in the countries such as U.S. and Canada that heighten the need for efficient air circulation and ventilation. 

The latest report of the American Lung Association states that around 131 million people in U.S. resided in areas with unhealthy air quality level between 2020-2022. These fans help to circulate air and clean the air to mitigate the impact of outdoor pollution and maintain healthy indoor environment.

This increasing level of pollution boosts the adoption of the clean air solution thereby boosting the market growth. Moreover, the expansion in the construction of residential, commercial, and industrial buildings in the region further increase the demand for effective ventilation and air quality control solutions that propels the duct fans market growth. 

As per the latest report of the Statisque Canada, the total investment in the building construction in Canada accounts for around 15.11 billion in 2024. This indicates a positive outlook for the market growth as these fans helps to ensure adequate air circulation and maintain optimal indoor temperature.

On the other hand, Asia Pacific is expected to show a steady rise in the duct fans market. This is due to the growth of the HVAC industry in the countries such as India, and China that propels the need for efficient and reliable ventilation system. 

According to the latest report of the International Trade Administration (ITA) report, the Indian HVAC sector is projected to reach a market size of around USD 30 billion increasing at a 15.8% CAGR by 2030. These fans are crucial to ensure optimal airflow and air quality and management thereby enhancing overall market growth in the region.

Furthermore, the rapid growth of industrialization in the region leads to surge in heat generation that propels the demand for duct fans for efficient air circulation and pollutant extraction. The latest report of the State Council Information Office reveals that the total industrial production in China witnessed a growth of USD 5.57 trillion USD that accounts for around 31.7% of the total GDP. In industrial settings these fans are used to ventilate and circulate air efficiently throughout the large space such as warehouse robotics, factories and manufacturing plants that boosts its demand in the region.

Competitive Landscape

Various key market players operating in the duct fans industry are Systemair AB, Greenheck Fan Corporation, Twin City Fan Companies, Ltd., Soler & Palau S.A., Panasonic Corporation, Zehnder Group International AG, Broan-NuTone LLC, Fantech Pty Ltd, Vent-Axia Ltd, Nortek Air Solutions, LLC, and others. These market players are opting various strategies such as product launch to maintain their dominance in the market. 

For instance, in January 2023, Fantech introduced TD EVO VAR, a new range of intelligent ventilation system to enhance indoor quality and energy efficiency. This system comes with ductwork to monitor and optimize performance of ventilation system catering to the increasing demand for sustainable and effective air management solutions.

Key Benefits

• The report provides quantitative analysis and estimations of the duct fans market from 2024 to 2030, which assists in identifying the prevailing industry opportunities.

• The study comprises a deep-dive analysis of the current and future duct fans market to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the duct fans market is provided in the report. 

• Competitive analysis of the key players, along with their market share is provided in the report.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Duct Fans Market Key Segments

By Product Type

• Centrifugal Fans

• Axial Fans 

• Cross Flow Fans

• Others

By Size

• Small

• Medium

• Large

By Installation Type

• Wall Mounted

• Ceiling Mounted

• Inline

By End Users

• Residential

• Commercial

• Industrial

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2023	96.32 Billion
Revenue Forecast in 2030	144.83 Billion
Growth Rate	6.0% from 2023 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	Surge in installation of HVAC systems propels the growth of the market. Rapid industrialization fuels the growth of the market. Expansion of construction sector accelerates the market growth.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent to up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

• Systemair AB

• Greenheck Fan Corporation

• Twin City Fan Companies, Ltd.

• Soler & Palau S.A.

• Panasonic Corporation

• Zehnder Group International AG

• Broan-NuTone LLC

• Fantech Pty Ltd

• Vent-Axia Ltd

• Nortek Air Solutions, LLC