New Zealand Ventilation Products Market To Generate Revenue Worth $183.2 Million by 2030

The New Zealand ventilation products market is projected to generate $183.2 million revenue by 2030, advancing at a CAGR of 5.4% during 2021–2030. Key factors driving the market include the surging awareness of health effects and environmental of polluted air, the rising number of commercial and residential projects, and the increasing preference for decentralized ventilation.

During the COVID-19 pandemic, the market for ventilation goods in the country suffered a detrimental impact, with a decline in demand for services. It is because the supply chain for refrigerants and electronic components such as compressors, embedded systems, and fan units was disrupted, which had an impact on manufacturing ventilation equipment and limited the market growth. Despite moderating due to the COVID-19's Delta variant, the New Zealand economy continued to recover in 2022. This will accelerate the restoration of operations, thus resulting in the increasing sales of ventilation systems to the country's commercial and industrial sectors.

Residential Sector Held Larger Market Share

The residential sector held a larger revenue share, of more than 80%, in 2021 in the New Zealand ventilation products market. This is ascribed to the surging focus of people to keep their homes healthier, cleaner, and more comfortable by installing ventilation systems, which continuously replace stale indoor air with fresh outdoor air. Furthermore, these devices recover a significant amount of heat in their outgoing airstreams and keep homes warm in a cold climate.

Whereas, the demand for ventilation systems in the commercial sector is projected to witness faster growth, advancing at a CAGR of around 4.0% during 2021–2030, in terms of volume. This can be attributed to the increasing tourism in the country. For instance, international visitor arrivals to New Zealand are forecasted to reach 5.1 million in 2024, from 3.7 million in 2017, up by 37.1%. This equates to a growth rate of 4.6% per year. This is due to a range of factors, including easy availability of tourist visas, low travel costs, and destination marketing.

Moreover, the sales of heat recovery ventilation (HRV) systems across the residential and commercial sectors held the largest market share in 2021. This is because the systems offer substantial savings on heating bills over using normal bathroom fans and window ventilation equipment. Also, these improve the air quality of a building, which enhances the health and well-being of the people living in the facility.

The New Zealand ventilation products market is fragmented in nature, due to the presence of several key players, such as Manrose, DVS, SmartVent, Mitsubishi Electric, SAYR Ventilation, Fantech Pty. Ltd., Ventair Pty. Ltd., HRV, MoistureMASTER, and IXL Home Pty. Ltd.