Australia Ventilation Products Market Future Prospects
The Australian ventilation products market size will stand at an estimated USD 682.5 million in 2024, which is projected to advance at a CAGR of 6.6% during 2024–2030, reaching USD 1,003.9 million by 2030.
The growth of the industry is primarily ascribed to the rising number of commercial and residential projects, surging awareness of the health and environmental effects of polluted air, and growing preference for decentralized ventilation.
The rising number of residential and commercial projects is a major factor propelling the growth of the market. This is attributed to the growing population and construction industry in Australia. For instance, in the first quarter of June 2024, the construction of 39,715 residential units began, rising by 0.5% from the last quarter of 2023. The value of work done in the residential sector was around USD 14 billion and Thus, the increasing infrastructure spending and construction boom in Australia is supporting the growth of the market in the country.
The rising awareness of the harms of a poor air quality also drives the market. According to Environmental Justice Australia, almost 5,000 Australians die from exposure to air pollution each year. Thousands more suffer from health issues such as stroke, heart diseases, and asthma. Most indoor air pollutants arise from chemicals, through the use of cleaning products, air fresheners, and pesticides, and via emissions from furniture and construction materials, as well as from heating and cooking. Cooking emissions, for example, have long been regarded primarily as an odor issue. Recent studies, however, have shown that particulate matter (PM) is a significant health risk of indoor air, and cooking can be a major source of PM2.5
