global ventilation grills market size is estimated to reach $543.3 million by 2031, growing at a CAGR of 3.8% from 2022 to 2031.

PORTLAND, OREGON, UNITED STATES, October 13, 2023 /EINPresswire.com/ -- The ventilation grills market has witnessed significant growth in the past decade, owing to increased spending on residential and commercial building construction in developed countries. The market is also driven by advantageous features of ventilation grills such as the ability to reduce odor and maintain healthy oxygen levels in interior spaces of the building. A number of players in the ventilation grills industry offer a wide range of grills in various sizes and materials to strengthen their foothold in the global market.

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According to a new report published by Allied Market Research, titled, “Global Ventilation Grills Market," The global ventilation grills market size was valued at $367.70 million in 2021, and is estimated to reach $543.3 million by 2031, growing at a CAGR of 3.8% from 2022 to 2031.

On the basis of material, the metal segment dominated the ventilation grills market in 2021, in terms of revenue. On the basis of application, the air supply segment registered the highest revenue in the year 2021. On the basis of end-user industry, the residential segment is expected to grow at a higher CAGR during the forecast period, owing to increased demand for emerging economies.

Market Overview:

Ventilation grills are segmented based on material into plastic, metal, and wood. Among these, the metal segment held the largest ventilation grills market share in 2021, owing to the extensive use of metal ventilation grills in commercial and industrial buildings. Furthermore, ventilation grills are bifurcated into the exhaust and air supply based on their application. Based on application, the air supply segment registered a higher revenue in 2021, owing to the extensive use of air supply vents in cold countries.

In addition, the market is analyzed among different end-user industries of ventilation grills, which includes building residential and non-residential buildings. The market is mainly driven by the rise in the residential real estate industry. However, factors such as fluctuating prices of raw materials and low expenditure on ventilation systems in developing economies are anticipated to limit the ventilation grills market growth.

The global ventilation grills market is segmented by type, application, and region. By type, the market is divided into aluminum, steel, and others. By application, the market is classified into residential, commercial, and industrial. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Ventilation Grills are specialized air-conditioning and ventilation products used to circulate air within the building. They are usually made of aluminum or steel and are available in various designs, sizes, and features. Ventilation grills are installed in the walls and ceilings of the building to allow air movement and reduce the risk of condensation. The market for ventilation grills is growing due to the increasing demand for energy-efficient and cost-effective ventilation solutions.

The key drivers of the market are the increasing demand for energy-efficient ventilation solutions, rising construction activities, and technological advancements. Additionally, the growing awareness about energy conservation and the increasing disposable income of people are also driving the market growth. On the other hand, the high cost of ventilation grills and the lack of skilled technicians are restraining the market growth.

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Market Trends:

In 2021, North America dominated the global ventilation grills market, in terms of revenue. Moreover, the market in Asia-Pacific is expected to grow with the highest CAGR. This is attributable to the rapid growth of the construction industry in developing countries such as India and China in the past few decades.

Furthermore, on the basis of the end-user industry, the non-residential segment is anticipated to grow rapidly during the forecast period, owing to a rapid rise in the number of commercial buildings in emerging economies such as India and China.

The rise in global population and rapid urbanization propel the growth of the building construction sector; thereby, driving demand for building ventilation systems. Ventilation systems consist of various components such as fans, filters, and grills. The rise in demand for ventilation systems positively influences the ventilation grills market.

Moreover, ventilation grills enable the flow of fresh air throughout the internal spaces of the building, thereby reducing odor and maintaining a healthy work environment. Such advantages significantly improve the serviceability of the building. Thereby, positively influencing the growth of the market.

Competitive Landscape:

Key manufacturers in the market offer a wide range of products to sustain the harsh competition in the market. For instance, Systemair India Pvt. Ltd., a major manufacturer of ventilation grills, offers a wide range of ventilation grills for residential and commercial applications.

However, various manufacturers in the ventilation grills market had to stop their business in countries such as China, U.S., and India, during the pandemic lockdown. This break directly impacted sales of ventilation grill manufacturing companies. In addition, lack of manpower and raw materials constricted the supply of raw materials for ventilation grills; and negatively influenced the growth of the market. After two years of COVID-19 outbreak and the introduction of vaccinations, the severity of the pandemic has significantly reduced and there has been a rapid recovery amongst key players in the market.

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Key Takeaways:

The report provides an extensive analysis of the current and emerging ventilation grills market trends and dynamics.

By material, the metal segment dominated the ventilation grills market, in terms of revenue in 2021 and plastic is projected to grow at a significant CAGR during the forecast period.

By application, the air supply segment registered higher revenue in 2021.

By end user industry, the non-residential segment is anticipated to grow at a higher CAGR during the forecast period.

Asia-Pacific is projected to register highest growth rate in the coming years.

The key players within the ventilation grills are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the ventilation grills industry.

The ventilation grills market forecast report provides an extensive analysis of the current trends and emerging opportunities of the market.

In-depth ventilation grills market analysis is conducted by constructing estimations for the key segments between 2022 and 2031

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