The long-term partnerships between manufacturers and distributors of ventilation fans is the defining characteristic of the competitive landscape of the global ventilation fans market, finds Transparency Market Research (TMR) in a new study. Only a few players, namely, Delta Ventilation Ltd., Panasonic Corp., Nortek Inc., and Airmaster Fan Co. have been able to firmly establish themselves in this highly fragmented market as of 2015.
The presence of a large pool of regional players has intensified the competition in this market. Leading participants are increasingly focusing on strengthening their presence through mergers and acquisitions while small-scale manufacturers of ventilation fans are improving their product portfolios in order to gain a strong foothold.
Going forward, manufacturers will need to focus on geographical expansion by developing their distribution channels. Product innovation will also help these players in gaining a competitive edge, TMR expects.
Infrastructural Developments Boost Demand for Ventilation Fans
The increased construction of residential and commercial spaces, thanks to the growing population as well as rapid urbanization across the world, has boosted the demand for ventilation fans remarkably, states an analyst at TMR.
The economic rise of BRICS nations and the commencement of major infrastructural development projects in the Middle East and North American countries have propelled the construction industry in these regions. Recently, economies such as the UAE, Saudi Arabia, and Qatar have undertaken huge commercial as well as residential construction projects. With the rising construction of commercial structures such as offices and hotels, the demand for ventilation fans is increasing significantly in these regions.