The total value of the Australian ventilation products market was over $569 million in 2021. It will grow at a rate of about 7% in the coming years to reach a value of about $1,004 million by 2030. The growth of this sector can be credited to the growing number of residential and commercial ventures, rising knowledge about health and environmental effects of contaminated air, and the growing prevalence for decentralized ventilation.
The increasing number of commercial and residential projects is one of the main reasons behind the growth of the industry. This is because of the rising construction industry and growing population in Australia.
For example, in the June quarter of 2021, the total construction in Australia was 0.5% more in comparison to the quarter of June 2020. The expenditure on construction was about $14 billion for the residential sector and $8 billion for the non-residential. Therefore, the expansion of infrastructure and heavy construction is contributing toward the growth of the industry.
To reduce carbon emissions, the adoption of green/smart buildings is growing. A green building comes with the capabilities like energy efficiency, greenhouse gas emission reduction, water conservation, waste reuse, reduction in consumption of natural resources, and protection of the environment. Also, the giants of real estate are focusing more on constructing green/smart buildings.
Decentralized ventilation has many advantages as compared to centralized ventilation. Based on IAQ, decentralized ventilation systems are more effective in covering a larger area efficiently to satisfy the demand of each zone. When a place is fully occupied, such systems can increase the ventilation rate and delivering a higher IAQ.
Moreover, decentralized systems are capable of disregarding pollutants closer to their source, by controlling the amount of the air supply needed and the energy required for conditioning and distributing it. The adjustment and control of a ventilation system is simplified because management of every portion can be done independently.
Therefore, the need for ventilation products will increase because of the growing number of residential and commercial ventures, rising knowledge about the environmental and health effects of polluted air, and rising focus upon decentralized ventilation.
Commercial ventilation systems had a larger revenue share In the Australian ventilation products market in 2021, with over 70%. The expansion of the economy and increasing urbanization contributed toward the rise in the number of hotels, offices, hospitals, malls, and further commercial spaces, boosting the demand for such products.
Furthermore, the expansion of the retail sector and SEZs is also contributing to the requirement for ventilation products in Australia.
The requirement for ventilation equipment in residential buildings is growing significantly. With home ventilation systems, people can live in a comfortable and safe environment.
