NEW YORK — The global ventilation equipment market will reach $25 billion in revenues in 2017 and is estimated to reach $40 billion by 2025, expanding at 5.5 percent compound annual growth rate (CAGR), per a recent report from Persistence Market Research (PMR).
Air pollution levels have surged exponentially in the recent past, resulting in increased cases of asthma and chronic obstructive pulmonary disorders (COPD). According to World Health Organization (WHO), more than 3 million premature deaths are reported each year via respiratory conditions. In addition, according to Nature Journal, particle sizes PM 2.5 and PM 10 present in the air are inhaled deep into the lungs, leading to incidences of strokes and heart attacks. Ventilation equipment renders removal of air pollutants and particles, improving ambient air quality in both industrial and commercial workspaces. Moreover, stringent government and environmental regulations have been implemented owing to growing concerns about health and safety of industrial work force. These factors are estimated to propel market growth.