New York, NY, Aug. 27, 2019 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Smart Vent Market By End-Use (Residential and Commercial) and By Installation (Floor, Ceiling, and Wall): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global smart vent market was USD 5,194 million in 2018 and is expected to reach around USD 12,960 million by 2026, growing at a rate of 12.1% between 2019 and 2026.
A ventilation system that operates on the basis of room temperature preference of an individual is called a smart ventilation system. Smart vents are integrated with temperature and pressure sensors, for maintaining a balance between under-conditioned and over-conditioned rooms. In smart vents, complete ventilation procedure is controlled by smart electronic devices, such as smartphones and tablets. The main motive of a smart vent is to decrease energy usage and overall expense as compared to continuously operating simple ventilation systems without compromising the indoor air quality (IAQ).
Browse through 37 Tables & 19 Figures spread over 163 Pages and in-depth TOC on “Global Smart Vent Market: Industry Type, Size, Share, Segments, Growth, Analysis and Forecast, 2018–2026”.
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Air quality in and around a building is termed as Indoor Air Quality (IAQ). Comfort and health of a building’s occupants rely on the IAQ eventually. The globally rising concerns of maintaining healthy IAQ to control health issues are fueling the smart vent market. Smart vents effectively enhance the natural air infiltration to prevent various health problems. Moreover, a smart ventilation system provides both qualitative and quantitative data required for demonstrating procedures that maintain the overall IAQ. Smart vents attenuate radon particle and prevent smoke entry at a reasonable cost. The global adoption of smart vents is rising to reduce health costs in airtight infrastructure with inadequate ventilation systems. Low awareness of various benefits offered by smart ventilation systems, such as reduced energy consumption, improvisation of IAQ (Indoor Air Quality), may restrain the smart vent market. Many developing economies are unaware of the importance of smart vents and are still relying on traditional ventilation methods. However, such traditional approaches are observed to be ineffective in the current scenario and are leading to severe health issues. Various emerging localities are unaware that smart vents are not only user-friendly with multiple customized options but also significantly help in lowering different respiratory health issues by maintaining an optimum IAQ level.
By end-use, the smart vent market includes residential and commercial. The residential segment is projected to hold the largest market share and grow at the fastest rate over the estimated time span. By installation, the market is divided into floor, ceiling, and wall. The wall segment is projected to hold the largest share and the ceiling segment is anticipated to grow at the fastest rate over the forecast time period.
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The North American smart vent market is mainly driven by the rising applications of smart HVAC in residential and commercial sectors. The region’s cold climate is getting colder with every passing year due to global warming. A smart HVAC system in North American countries is mainly utilized for warming the room to optimum temperature. Smart ventilation for ceilings is widely opted in the U.S., Canada, and Mexico for warming house roofs. In October 2018, construction spending in the U.S. exceeded over USD 1.31 trillion. The flourishing construction industry is significantly fueling the smart vent market in the region. The U.S. will hold the largest market share, due to the developing smart home construction industry.
The rising energy-efficient devices demand in European countries is driving the region’s smart vent market. European countries are opting for smart ventilation systems for warming their homes. Moreover, the smart vent market will generate lucrative opportunities in Europe over the forecast time period, owing to rising technological enhancements that have resulted in IoT integration with smart vents. Germany will dominate in this regional market, owing to the growing number of smart homes. The smart homes market in Germany was worth approximately USD 3,142 million in 2018. The UK is estimated to grow notably in the future, owing to the low rates of air conditioning systems and mandating regulation initiated by European governments for using energy-efficient and eco-friendly devices.
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The Asia Pacific is a major smart vent market globally, due to the rising smart home constructions and building automation and global warming. Developing Asia Pacific economies of China and India are opting for technically-advanced and eco-friendly solutions like variable refrigerant flow technology. Furthermore, various government regulations, like the Indian Bureau of Energy Efficiency and Labeling Standards, have mandated builders to use smart HVAC devices in their infrastructural projects. Due to the growing global warming, governments of Asia Pacific countries are implementing strict rules for making overall ventilation systems more energy-efficient and eco-friendly along with reducing costs and energy consumption. China is projected to hold the largest smart vent market share, due to its flourishing building automation sector in the upcoming years.
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Some noticeable players in the smart vent market are CSR Electrical, DCI Products, Ecovent Systems, Enerbee, Flair, IPS Roofing Products, Keen Home, Nest Labs, Rowan Dron Electrical, and San Mao Technology.
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This report segments the global smart vent market into:
Global Smart Vent Market: By End-Use
Global Smart Vent Market: By Installation
Global Smart Vent Market: By Region
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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