The Australian ventilation products market is projected to generate $2,806.3 million revenue in 2030, advancing at a CAGR of 4.6% during 2020–2030. This can be attributed to the growing preference for decentralized ventilation, the rising number of commercial and residential projects, and the surging awareness of the environmental and health effects of air pollution.
The COVID-19 pandemic had a minor negative impact on the Australian ventilation products market growth, as the supply chain and import of raw materials in the country were disrupted due to lockdowns imposed in the country. However, the market is expected to stabilize in the coming years, as people become more aware of air quality and air filtration systems. Moreover, adequate ventilation is just one of the preventive measures to reduce the risk of COVID-19 transmission.
The Australian ventilation products market is classified into ventilation fans, energy recovery ventilation (ERV) systems, air curtains, air cleaners/air purifiers, and air handling units (AHUs) and fan coils, under the product segment. Among these, the ventilation fans category dominated the market in 2020, and it is expected to maintain its position during the forecast period as well. This is due to the widespread installation of such systems in business offices and buildings. Furthermore, the start of high-value infrastructure development projects and encouraging government measures are driving the market expansion.
Moreover, the market for ventilation products in Australia is bifurcated into commercial and residential, based on the usage segment. Between the two, the commercial category is projected to register faster growth during the forecast period. Rapid urbanization and economic growth have led to an increase in the number of malls, hospitals, and hotels, which, in turn, drives the demand for ventilation systems. Furthermore, the development of corporate centers, special economic zones (SEZs), and retail shops is also boosting the market growth in the country.
Players in the Australian ventilation products industry are extensively involved in product launches to gain a significant position. For instance, in July 2021, Vent-Axia Group Limited announced the launch of Lo-Carbon Heat Save, which is designed to offer either single room or whole house heat recovery ventilation solution for existing homes. The decentralized heat recovery ventilation unit is ideal for retrofitting, providing extract and supply ventilation to improve indoor air quality (IAQ), and supplying fresh air to rooms as part of a modular system.
Similarly, in September 2020, Vent-Axia Group Limited announced the launch of the Multivent MEV family, a new range of mechanical extract ventilation (MEV) and decentralized MEV (dMEV). The Vent-Axia Multivent MEV family offers a range of eight MEV and eight dMEV models. Both the MEV and dMEV units offer an easy-to-operate control platform and extremely low operating noise.
Major players operating in the Australian ventilation products market include Johnson Controls International PLC, Daikin Industries Ltd., Mitsubishi Electric Corporation, Air Change International Limited., FANCO PTY. LTD., Elta Group, Rosenberg Ventilatoren GmbH, and Vortice S.p.A.