China leads world ventilation market, with lift for Europe
The latest research from BSRIA shows that China is set to lead world demand for fans and ventilation, but Europe will also see a lift and steady growth over the next seven years.
The BSRIA marketing intelligence study on World Ventilation: Fans and Ventilation Market shows that China experienced “brisk growth” of 21% in 2016. This was largely driven by the residential sector, since products in the commercial sector contracted by 2%.
In Europe, the outlook for the fans and ventilation market is expected to regain momentum, as growth is forecast to hit seven per cent annually until 2022. The market is forecast to expand by four per cent per year, but it will lag substantially behind that of China which will stand at nine per cent.
Specific 2016 figures for Europe paint a broadly “stable picture”, despite mixed country-level sales data. Sales of units in the residential sector expanded by one per cent at 677 million US$, with Germany, Netherlands and Sweden increasing, while France and the UK experienced a decline. Despite the market remaining static, growth is forecast.
In the commercial sector, the market held steady at 1,966 million US$, with all countries but the UK showing a “moderate rise”.
The ventilation markets in France, Germany, Netherlands, Sweden, UK, and China are among the most developed and fastest growing in the world driven by legislation and new building designs, populated with many local suppliers and some “international heavyweights”.