New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Attic And Exhaust fans Global Market Report 2023' -
The global attic and exhaust fans market will grow from $8.95 billion in 2022 to $9.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The attic and exhaust fans market is expected to grow to $12.67 billion in 2027 at a CAGR of 7.1%.
The attic and exhaust fans market consists of sales of ridge vents, off ridge vents, box vents, hard-wired powered attic vents, solar powered attic vents, roof turbines, cupola vents, and soffit vents.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The attic and exhaust fans refer to a device that are used in warmer months when temperatures in an attic can exceed 120 °F (49 °C) or to pull excess moisture and unwanted odours out of a particular room or area.
The Asia Pacific was the largest region in the attic and exhaust fans in 2022.Western Europe was the second largest region in theattic and exhaust fans market.
The regions covered in the attic and exhaust fans report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of attic and exhaust fans are attic fans and exhaust fans.Attic fans refer to ventilation fan that regulates the heat level of a building's attic by exhausting hot air.
The material used is metal and plastic. The various applications involved are industrial, commercial, and residential.
The growth in the number of industries across the world contributed to the growth of the attic and exhaust fans market.Exhaust fans are used to remove contaminants like dust, fumes, and vapors, to provide a safe environment for work.
For example, a steel manufacturing plant uses an exhaust fan to create the difference between indoor and outdoor air environments so that airflow can be generated to eliminate the exhausting gas while manufacturing. According to India Brand Equity Foundation (IBEF), in India, the number of micros, small and medium enterprises (MSMEs) has increased from 2.12 million units in 2019 to 2.51 million units in 2020, a growth of 18.5%. Therefore, the growth in several industries across the world boosted the demand for industrial exhaust fans which in turn influenced the market for attic and exhaust fans positively.
Exhaust fans can cause depressurization in a house and this factor is expected to limit the growth of the attic and exhaust fans market.Exhaust fans can depressurize a house and lower the pressure indoors concerning the outside.
Depressurized houses or places will also have a higher difference in temperature between inside and outside.The risk of the absence of pressure in a house results in higher utility costs, poor indoor air quality, and damp inside walls of houses.
Therefore, such factors are expected to hurt the growth of the attic and exhaust fans market.
Increasing demand for smart attic fans is an emerging trend in the attic and exhaust fans market.A smart attic fan is a device that has a built-in thermostat/humidistat, and variable speed motor, and is operated using applications.
For instance, QuietCool AFG SMT-3.0 smart attic fan from Quiet Cool Colorado runs at the 3,000 CFM setting when the attic is at its hottest point and again the smart attic fan automatically cycles itself down to the lower speeds as the attic starts to cool down.
The countries covered in the attic and exhaust fans market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The attic and exhaust fans market research report is one of a series of new reports that provides attic and exhaust fans market statistics, including attic and exhaust fans industry global market size, regional shares, competitors with attic and exhaust fans market share, detailed attic and exhaust fans market segments, market trends and opportunities, and any further data you may need to thrive in the attic and exhaust fans industry. This attic and exhaust fans market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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