Global Ventilation Fans Market to Reach $2.4 Billion by 2023
Market being driven by growing awareness of the importance of IAQ
ALBANY, N.Y. — The global market for ventilation fans, which stood at $1.6 billion in 2015, is forecast to reach $2.4 billion by the end of 2023, exhibiting a compound annual growth rate (CAGR) of 4.9 percent between 2015 and 2023, according to a report from Transparency Market Research.
The growing awareness of the importance of IAQ and stringent government regulations mandating the installation of proper ventilation systems in buildings are the key factors fueling demand in the global ventilation fans market.