North America Destratification Fan Markets, 2021-2022 & 2028: Growing Popularity of the "Green Building" Concept & Increasing Need for the Energy-Efficient Ventilation Systems – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “North America Destratification Fan Market Forecast to 2028 – COVID-19 Impact and Analysis – by Installation, Application and Sales Channel” report has been added to ResearchAndMarkets.com’s offering.

The destratification fan market was valued at US$ 204.9 million in 2021 and is projected to reach US$ 341.8 million by 2028; it is expected to grow at a CAGR of 7.6% from 2021 to 2028.

The North America destratification fan market is predicted to grow due to factors such as increasing need for the energy-efficient ventilation system. Proper and effective ventilation plays a very important role in an energy-efficient home. The amount and type of ventilation that is ‘suitable’ varies from house to house and from occupant to occupant.

Various households will have different occupancy levels (people and pets), schedules, activities, health concerns, and other preferences, all of which will influence the proper ventilation systems and functioning. Ventilation also aids in moisture control, lowering the risk of mold growth and structural damage. The American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) Standard 62.2 specifies how a home’s living area should be ventilated.

It is widely assumed that in rooms with stratified air, the temperature disparity is normally 2-3C per 5m height but can reach 1C/m height. Using the greatest differential rate as an example, this indicates that in a 10m high room, the temperature difference between floor and ceiling level can be 10C. The higher the ceiling, the greater the possible temperature differential, and hence the greater the expected savings from deploying effective thermal destratification fans.

The savings can be achieved when the destratification fans are installed and turned on, as the air is destratified, and the heating system may be adjusted to a lower temperature. Additionally, destratification fans aid in enhancing energy savings by helping to save up to 20-30% off heating costs for industrial buildings or warehouses when properly installed and run at the optimum speed and direction.

On the basis of installation, the destratification fan market is divided into the open ceiling and grid ceiling. The open ceiling segment holds a significant amount of revenue shares in the market. The downstream demand markets are driving the growth of the destratification fan market. On the basis of application, the destratification fan market is segmented into retail, warehouse & distribution, manufacturing facilities, agriculture & livestock, aviation, offices, hospitality & hotels, and others.

The office segment holds a significant amount of revenue shares in the market. Recent developments in fan technology, temperature control units, etc. are the major factors driving the adoption of destratification fans across North America. On the basis of sales channels, the destratification fan market is bifurcated into online and offline.

The online, segment holds a significant amount of revenue shares in the destratification fan market. Rising awareness about indoor air quality (IAQ) and green building initiatives are some of the major factors contributing to the growth of the destratification fan market in North America. The US aviation industry is showing a Northward direction growth; for instance, according to the Bureau of Transportation Statistics (BTS), in September 2021, the U.S twenty airlines carried 58.4 million passengers, more than 90% of passengers.

Therefore, with the increasing number of passengers has also increased the demand for commercial aircraft. Further, the growing focus on enhancing the infrastructure of private airports increases the demand for destratification fans, which in turn is further fuelling the growth of the US destratification fan market.

The US and Canada are among the prime contributors to the North American destratification fan markets. In 2019, according to U.S. Energy Information Administration, the global emission of energy-related carbon dioxide was totalled 33,621.5 million metric tons while the United States emitted 5,130 million metric tons of energy-related carob dioxide, whereas Canada’s total GHG emissions in 2019 were 730 mega tonnes of carbon dioxide.

Therefore, the federal governments in North America are investing a massive amount of capital in reducing CO2 emission; thus, they are frequently investing in development and innovation products. For instance, the Canadian government has committed $60 billion to reduce greenhouse gas emissions, develop clean technologies, assist Canadians and communities in adapting to a changing climate, and protect the environment. The US Federal government is investing $62 billion in the US Department of Energy (DOE) to continue making clean energy more equitable.

The US government’s Bipartisan Infrastructure Deal supports the supply chain for batteries, a grant program to support advanced energy technology manufacturing projects in coal communities, and the DOE’s Loan Program Office’s (LPO) authority to invest in various energy-efficient projects. Therefore, with these governments’ initiatives, there are many lucrative opportunities for the key vendors operating in the destratification market.

Key Market Dynamics

Market Drivers

• Increasing need for the energy-efficient ventilation system
• The rapid growth of the construction industry

Market Restraints

• High cost of destratification fans and availability of low-quality products in the local market

Market Opportunities

• Growing awareness coupled with rising disposable income

Future Trends

• The growing popularity of the “Green Building” concept

Company Profiles

• Zo- Fans Inc
• Canarm Ltd
• Vents US
• Continental Fan
• Delta T LLC
• Airius, LLC
• Air-Row Fan Company
• Refresh Fans
• Texas Electronics Canada Inc
• Drd System

For more information about this report visit https://www.researchandmarkets.com/r/ikx9hq

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