Market Size of Europe Ventilation Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Ventilation Equipment Market Analysis
Europe's Ventilation Equipment market was valued at USD 4.8 billion in 2022 and is expected to register a CAGR of 6.2% during the forecasted period. Ventilation systems are used to control indoor air quality by diluting and displacing indoor pollutants.
- Short- and long-term exposure to indoor air pollution has the potential to cause different types of health issues, such as respiratory diseases, heart disease, cognitive deficits, and cancer. Thus, the rising concerns about improving indoor air quality across the region are key factors driving the market's growth.
- Moreover, the region has a growing demand for energy-efficient ventilation equipment. According to the European Commission, ventilation units consume over 2% of all electricity in the European Union and are among the largest indoor electricity consumers after heating, cooling, and lighting. By using more efficient ventilation units, European citizens can save 1300 PJ in energy use each year by 2025.
- Also, the growing trends of green buildings coupled with the implementation of stringent regulations related to the health and safety of the industrial workforce will significantly augment the demand for ventilation systems.
- The pandemic highlighted the importance of ventilation, which positively impacted the market growth. Several studies suggested that COVID-19 transmission was particularly effective in crowded, confined indoor spaces such as workplaces (offices, factories) and other indoor settings, such as churches, restaurants, shopping centers, and vehicles. Ventilation with outdoor air was deemed to dilute contaminants in closed spaces and increase the time required for exposure to an infectious dose.
- However, the high cost related to installing and maintaining the ventilation systems is an important factor impeding the market's growth. Also, the lack of skilled professionals responsible for manufacturing and maintaining these systems is a restraint for market growth.
