PORTLAND, Oregon and PUNE, India, May 24, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Thermo ventilators Market by Product, and End-user Industry: Global Opportunity Analysis and Industry Forecast, 2017-2023", the global thermo ventilators market was valued at from $2,332 million in 2016, and is expected to reach $3,718 million by 2023, registering a CAGR of 7.1% from 2017 to 2023. Asia-Pacific is expected to exhibit lucrative growth opportunities, owing to the growth in commercial sector.
The demand for global thermo ventilators industry is mainly driven by its ability to automatically adjust the ventilation system as per the occupants thereby making it energy efficient and its increasing application in commercial sector. Moreover, growth in awareness about thermos ventilators among the residential sector is also expected to contribute significantly to the demand for thermos ventilators during the forecast period. However, the initial investment of thermo ventilators is expected to pose a major challenge for the global market growth.
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Among its application, commercial segment is expected to generate the maximum revenue in the global market during the forecast period, and is expected to account for $2,255 million until 2023. Residential sector is expected to register the fastest CAGR of 7.5% during the forecast period.
Key Findings of the Thermo Ventilators Market:
- The global thermo ventilators market is expected to grow at the CAGR of 7.1% during the forecast period, thereby expanding the opportunities for the industry.
- The window mounted, among the various types of thermo ventilators market is expected to witness the highest CAGR as compared to other product types.
- North America is expected to be the highest revenue contributor in 2016.
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The key players operating in the global thermo ventilators market are Panasonic, Whirlpool, Lennox International Inc., Vaisala, Mistubishi Electric, Honeywell International Inc., Aereco, Swegon Group AB, Siemens, and Sauter Controls GmbH.
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SOURCE Allied Market Research