Market Trends of Global Home Ventilation System Industry
Innovations in Cost-Effective Energy Recovery Ventilation (ERV)
The HVAC industry's technological development is focused on cost-cutting initiatives and improving existing technology. Latent heat storage with higher storage density and smaller temperature changes is becoming more popular. The potential use of Phase Change Material (PCM) in HVAC solutions for thermal storage and temperature maintenance applications, as well as innovations in Next Generation Ventilation (NeGeV) to optimize system performance and meet ventilation and cooling demands for commercial and industrial sectors, are among the factors driving the market growth. Furthermore, significant developments and innovations in mechanical ventilation systems are expected to match current price levels and significantly reduce operating costs while offering 50–90% lower energy consumption and a lower carbon footprint. All of the aforementioned factors are expected to support market growth and provide market participants with lucrative growth opportunities.
Home Renovation Industry is Propelling the Sales of Home Ventilation System Market
Homeowners' shifting preferences for energy-efficient and luxurious living spaces are significantly contributing to the industry's growth in ventilation systems. Rapid urbanization, combined with government initiatives to provide incentives and tax credits for green building construction, has fueled market growth for home ventilation systems. Furthermore, the popularity of e-commerce and the availability of technologically advanced system upgrades will drive global home ventilation system activity.
