Pune, India, May 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Ventilation Grill Market.
Market Research Future (MRFR) reveals that the global ventilation grill market 2020 can potentially cross the valuation of USD 0.32 Billion by 2030-end. The projected CAGR that can be achieved by the market between 2022 and 2030 (review period) is 4%, adds MRFR.
Primary Drivers and Key Restraints
COVID-19 has disrupted a number of construction projects around the world, rendering the supply chains fragile and also causing delays. A majority of the construction projects are no longer active; however, they are expected to get started in the near future. To combat the negative impact of the pandemic, massive investments as well as focus are being put in to combat the issue and revive the economic impact. Governments everywhere are offering significant backing to the construction industry with essential funding and constant dialogue. The construction industry is on its way to better growth prospects, given the escalating demand for housing and the candid government leadership as well as investment.
Construction is known for being a highly resilient industry when it comes to social and political volatility, with the projects expected to finish on time even in these arduous circumstances. In the industry, one of the most adaptable markets is that of ventilation grills. The market can gain from the constant surge in the demand for plastic ventilation grill in the residential sector coupled with the growth of the e-commerce sector.
Rising industrialization and rapid urbanization also induce major growth of the ventilation grills market. The mounting number of construction projects in the residential as well as non-residential sector, especially in developing nations like India, Japan and China also benefit the market. The emergence of brownfield and greenfield projects along with the frequent technological innovations in ventilation grill systems can act as lucrative opportunities in the global market.
The ventilation grill market has been broadly covered in the report, keeping in mind the primary segments of material and application.
The materials available in the worldwide market are plastic, wood and metal.
The applications of ventilation grills are residential as well as non-residential.
The ventilation grill market has split into four main regions, namely, Europe, North America, APAC or Asia Pacific, and RoW or the rest of the world.
In 2018, the biggest share in the global market was owned by APAC and its lead is presumed to remain intact throughout the review period. Apart from this, the regional market can expand at the fastest rate in the coming years, backed by factors like the thriving construction industry, and the burgeoning population in emerging countries like Indonesia, China, India and Thailand. The market growth will also be induced by the high production as well as sales of heavy and light vehicles like trucks and buses. Ventilation grills are in huge demand in the region, thanks to the boom in infrastructural advancements including residential & corporate buildings, hotels, entertainment buildings, educational institutions, along with various other commercial buildings.
The North American market is headed by the United States (US) and Canada, all because of the massive investments being made in the construction sector. The well-established industrial and commercial sector in these nations improves the demand for ventilation grills as well. The skyrocketing e-commerce sector, presence of renowned manufacturers, and the rampant deployment in commercial vehicles are also working in favor of the ventilation grill market in the region.
Europe offers a conducive environment for the ventilation grill market, given the high concentration of technologically-advanced nations like Spain, Germany, France and Italy. The region holds an expansive consumer base for industries like healthcare, commercial and automotive. With the presence of celebrated ventilation grill manufacturers like Trox GmbH, Roccheggiani SpA and Vents, the market growth in the region receives a considerable boost, which is only going to get better in the approaching years.
Top companies in the ventilation grill industry are Vents (Ukraine), Brookfield, WI (US), Systemair AB (Sweden), Waterloo Air Products Plc. (UK), Aldes Aeraulique S.A., (France), GDL Air Systems Limited (UK), Allvent (Australia), Gavo B.V. (the Netherlands), Roccheggiani SpA (Italy), Rf-Technologies NV/SA (Belgium), Kemtron (UK), Trox GmbH (Germany), TANGRA AV Ltd (Bulgaria), Imeksan HVAC (Turkey), to name a few.
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