Bathroom Ventilation Fans Market is Expected to Grow With a CAGR of 3.7% During the Forecast Period 2018-2025, Says Esticast Research and Consulting
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As per the report “Bathroom Ventilation Fans Market By Type ( Ceiling, Inline, Wall ), By Application ( Residential, Commercial ), Industry Trends, Estimation & Forecast, 2017-2025″.
In 2017, the residential segment generated the highest revenue share in the global bathroom ventilation fans market. Among major regions, North America was the highest revenue generating market, holding nearly 45% of the market share, in 2017.
“Technological advancements and changing customer preferences has led to modifications in the design of traditional bathroom ventilation fans. The drifting preferences of customers toward green buildings and sustainable alternatives is propelling people to adopt solar bathroom ventilation fans or reside in naturally ventilated buildings, which might have an impact on the global market during the upcoming years.”
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Ceiling ventilator fans segment gained the lions share in the global market and is expected to grow with the highest CAGR of 3.9% during the forecast period
Ceiling exhaust fans are one of the most commonly used bathroom ventilators. These fans are traditionally compact in size and are highly efficient in removing spores and odor. These ventilator fans are highly suitable for those bathrooms that are either too compact or which do not have any operable window installed in them. With the technological advancements going on, ceiling exhaust fans are available with multiple attached features, such as light, heat and decorations. Apart from that incorporation of technology such as humidity sensors and motion sensors, the very segment is expected to witness an impressive growth during the upcoming years.
Premium grade bathroom ventilation fans witness higher adoption in the global market, especially in the developed nations
The bathroom ventilation fans become more sophisticated and expensive, as they transit from traditional to intelligent and power saving fans. The high fixed cost & low variable cost of ventilation fans, high product competition, and achievement of fast market penetration has propelled the market players to sell their products at competitive prices. As per the study, the premium grade ($150 and above) ventilation fans are the most adopted fans in the developed nations, owing to the high demand for intelligent features and power safety.
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Surge in new residential construction activities across the globe has rendered the highest market share to the residential segment in the global market
The residential segment held nearly 60% market share, in terms of revenue, of the global market in 2017. The segment is expected to grow with an impressive growth rate of 3.8% during the forecast period. The expansion of global bathroom ventilation fans market is a result of increasing awareness regarding home sanity & hygiene, changing lifestyle, continuous growth of new residential constructions and increasing disposable income of people across the globe. Since the last decade, North American construction industry has impressively recovered from a tough phase and as a result new tenders for the construction of residential buildings are being sanctioned, along with increasing renovation activities. As per the data revealed by a major market player, more than 15% of the revenue generated from the overall residential bathroom ventilation fans is incurred from new construction activities.
NORTH AMERICA BATHROOM VENTILATION FANS MARKET AVERAGE PRICE OF KEY PLAYERS/MANUFACTURERS IN 2017
KEY FINDINGS OF GLOBAL BATHROOM VENTILATION FANS MARKET, 2017-2025
• In Europe, the ceiling bathroom ventilation fan segment garnered the highest market share of nearly 60% in the year 2017.
• United States emerges as the market leader in the North America bathroom ventilation fans market, owing to the growing construction industry.
• Bathroom ventilation fans are anticipated to witness a declining price trend in the global market during the upcoming years.
• Asia-Pacific is expected to grow with the highest CAGR of 5.3% during the forecast period 2018-2025.
CORRELATION BETWEEN BATHROOM VENTILATION FANS MARKET PRICE AND CONSUMER ADOPTION, 2017
Some key market players are Air King, BROAN, PANASONIC, S&P USA Ventilation Systems, Delta, Continental Fan, Greenheck Fan, and Schneider Electric.