The Global Commercial Fan and Air Purification Equipment Market size is expected to reach $131.2 billion by 2030, rising at a market growth of 8.4% CAGR during the forecast period.
Several chronic disorders, including asthma, COPD, and other respiratory diseases, rise due to inhaling particulate matter. Globally, the air and water quality is impacted by climate change, thus, the need for air purification arises. Hence, the air purification equipment would generate more than 40% share of the market by 2030. For instance, millions of people throughout the world suffer from poor health due to deteriorating air quality. Additionally, the WHO has predicted that almost 2.43 billion people are exposed to hazardous levels of household air pollution while using simple stoves or open fires fueled by coal, kerosene, and biomass (animal dung, wood, and crop waste.) Further, in 2019, 455 000 individuals died from asthma and roughly 262 million others were affected by it. 3.23 million people died from chronic obstructive pulmonary disease (COPD) in 2019, making it the third most common fatality worldwide.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 2021, Daikin introduced Daikin Air Purifier. This product is a portable room air purifier designed for improving indoor air quality (IAQ) while helping reduce the risk of airborne infections and pollutants. Additionally, In December, 2021, Sharp Corporation released an FX-J80 air purifier to offer clear and fresh air inside homes. The FX-J80 air purifier can be tracked and controlled with the "SHARP AIR APP" available on Apple Store and Play Store, offering added ease of use to users.
Based on the Analysis presented in the KBV Cardinal matrix; 3M Company, Hitachi, Ltd., and Honeywell International Inc. are the forerunners in the Market. In November, 2020, Honeywell launched Honeywell Electronic Air Cleaners (EACs) with UV Systems and a new line of indoor air quality (IAQ) sensors, to assist in enhancing and measuring commercial building indoor air quality. Companies such as Carrier Global Corporation, Illinois Tool Works Inc., and Daikin Industries Ltd. are some of the key innovators in the Market.
Market Growth Factors
Growing demand for healthier indoor environments
One of the key factors driving the rising demand for commercial air filtration systems is the growing emphasis on creating healthier indoor environments. In recent years, there has been a significant improvement in awareness and understanding of the impact of indoor air quality on human health and well-being. Regulatory requirements and suggestions, in addition to health issues, are urging the usage of commercial fan and air purification. By investing in air purification systems, many businesses and companies boost employee productivity and well-being, which is anticipated to impact the market's overall performance positively.
Integration of IoT technologies
By improving functionality and efficiency, incorporating Internet of Things (IoT) technology in commercial fan and air purification equipment presents fantastic prospects. The demand for these cutting-edge solutions is fuelled by real-time monitoring, preventative maintenance, remote diagnostics, and advanced sensors that optimize performance, increase energy efficiency, and offer a seamless user experience. IoT remotely monitors and controls systems for commercial fan and air purification equipment. Businesses are drawn to technological improvements as they search for innovative solutions to optimize their indoor environments. As a result of the rising IoT, to create excellent opportunity the market.
Market Restraining Factors
High initial and operating costs
This equipment is frequently more expensive than conventional options. Incorporating sophisticated technologies, filtration systems, and features into these products contributes to their higher price tags. Commercial fan and air purification have significant prices because of several things, including the original purchase price, installation expenses, ongoing maintenance, and operational costs. Air purification equipment frequently requires regular filter replacements, servicing, and cleaning to guarantee optimum efficiency and longevity. These recurring expenses can be a burden, particularly for businesses with limited funds or without maintenance staff. The market's expansion is anticipated to be constrained by high adoption and maintenance costs.
Equipment Type Outlook
By equipment type, the market is classified into air purification equipment, attic & exhaust fan, and others. The attic & exhaust fan segment covered a considerable revenue share in the market in 2022. Building attics often have attic fans installed to assist in controlling humidity and temperature. They enhance ventilation by removing hot air from the attic and preventing it from seeping into the rest of the structure. Exhaust fans are frequently employed in commercial settings for clearing indoor environments of foul odors, contaminants, and stale air.
Power Range Type Outlook
Based on power range type, the market is bifurcated into 200 - 400 square Ft, more than 400 square Ft, and less than 200 square Ft. The 200 - 400 square Ft segment witnessed the largest revenue share in the market. The particular requirements of small to medium-sized areas are driving the requirement for commercial equipment in the 200-400 square feet range. Due to their accessibility, adaptability, and ability to satisfy niche markets, small cafes, boutique shops, and offices have become increasingly popular.
Regional Outlook
Region wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the highest revenue share. The development of the regional market is significantly influenced by technological innovation, high per capita income, the high standard of lifestyle people adopts, and rising pollution consciousness. The market is expanding due to growing employee health awareness and governments implementing strict industrial regulations. The diverse climate of the region affects the need for commercial fans.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Regal Rexnord Corporation, Panasonic Corporation, 3M Company, Daikin Industries Ltd., Hitachi, Ltd., Carrier Global Corporation, SPX Flow, Inc., Honeywell International Inc., Sharp Corporation and Illinois Tool Works Inc.
Recent Strategies Deployed in Commercial Fan and Air Purification Equipment Market
Partnerships, Collaboration and Agreements:
Jun-2022: Hitachi Energy joined hands with Petrofac, a leading international service provider to the energy industry. With this collaboration, both companies would combine their expertise to support the decarbonization of power systems and deliver clean energy.
Product Launch and Product Expansions:
Dec-2021: Sharp Corporation released an FX-J80 air purifier, a novel AIoT air purifier fitted with Sharps Plasmacluster Technology that eliminates dust, airborne mold, microbes, and viruses to offer clear and fresh air inside homes. The FX-J80 air purifier can be tracked and controlled with the "SHARP AIR APP" available on Apple Store and Play Store, offering added ease of use to users.
Jun-2021: Daikin introduced Daikin Air Purifier. This product is a portable room air purifier designed for improving indoor air quality (IAQ) while helping reduce the risk of airborne infections and pollutants.
Jun-2021: Carrier revealed a new Wi-Fi-enabled smart air purifier. The smart air purifier continuously measures levels of pollution, samples incoming air, and indicates air quality. The new smart air purifier features three different technologies to make indoor air healthier.
Mar-2021: Sharp Corporation released SmartAir, a new state-of-the-art air purifier model. The product was introduced in India under a partnership with QNET. The product is equipped with IoT functionality that enables it to be connected to Wi-Fi and managed from anywhere on a smartphone through the SHARP Air mobile app. The QNET and Sharp partnership had been in existence for 6 years and has grown in strength over that period.
Acquisitions and Merger:
Apr-2023: SPX Technologies Inc. completed the acquisition of Tamco, a manufacturer and distributor of lighting and electrical products. Through this acquisition, the company aimed to boost its growth by leveraging its combined product offerings, distribution channels, and SPX Technologies' business system.
Nov-2022: Daikin Europe N.V. completed the acquisition of Landi S.p.A., a manufacturer of electrical equipment and supplies. The acquisition allows the company to develop its service and solution proposition in the HVAC market. Moreover, it would strengthen the service capabilities of the company and its partners.
Oct-2021: Regal Rexnord Corporation announced the merger of Regal Beloit Corporation with Rexnord Corporation's Process & Motion Control Business. The merger would allow the company to provide broader components of offering enhanced digital and IoT capabilities.
Sep-2021: Carrier acquired Toshiba Corporation's ownership stake in Toshiba Carrier Corporation (TCC). Through this acquisition, Carrier aimed at benefiting from growing electrification and sustainability trends with the aid of Toshiba's differentiated technology, strong channel, and global design and manufacturing footprint.
Scope of the Study
Market Segments covered in the Report:
By Equipment Type
- Air Purification Equipment
- Attic & Exhaust Fan
- Others
By Power Range Type
- 200 - 400 Square Ft
- Less Than 200 Square Ft
- More Than 400 Square Ft
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- Regal Rexnord Corporation
- Panasonic Corporation
- 3M Company
- Daikin Industries Ltd.
- Hitachi, Ltd.
- Carrier Global Corporation
- SPX Flow, Inc.
- Honeywell International Inc.
- Sharp Corporation
- Illinois Tool Works Inc.
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Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Commercial Fan and Air Purification Equipment Market, by Equipment Type
- 1.4.2 Global Commercial Fan and Air Purification Equipment Market, by Power Range Type
- 1.4.3 Global Commercial Fan and Air Purification Equipment Market, by Geography
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Top Winning Strategies
- 4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
- 4.4 Porter Five Forces Analysis
Chapter 5. Global Commercial Fan and Air Purification Equipment Market by Equipment Type
- 5.1 Global Air Purification Equipment Market by Region
- 5.2 Global Attic & Exhaust Fan Market by Region
- 5.3 Global Others Market by Region
Chapter 6. Global Commercial Fan and Air Purification Equipment Market by Power Range Type
- 6.1 Global 200 - 400 Square Ft Market by Region
- 6.2 Global Less Than 200 Square Ft Market by Region
- 6.3 Global More Than 400 Square Ft Market by Region
Chapter 7. Global Commercial Fan and Air Purification Equipment Market by Region
- 7.1 North America Commercial Fan and Air Purification Equipment Market
- 7.1.1 North America Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.1.1.1 North America Air Purification Equipment Market by Country
- 7.1.1.2 North America Attic & Exhaust Fan Market by Country
- 7.1.1.3 North America Others Market by Country
- 7.1.2 North America Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.1.2.1 North America 200 - 400 Square Ft Market by Country
- 7.1.2.2 North America Less Than 200 Square Ft Market by Country
- 7.1.2.3 North America More Than 400 Square Ft Market by Country
- 7.1.3 North America Commercial Fan and Air Purification Equipment Market by Country
- 7.1.3.1 US Commercial Fan and Air Purification Equipment Market
- 7.1.3.1.1 US Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.1.3.1.2 US Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.1.3.2 Canada Commercial Fan and Air Purification Equipment Market
- 7.1.3.2.1 Canada Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.1.3.2.2 Canada Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.1.3.3 Mexico Commercial Fan and Air Purification Equipment Market
- 7.1.3.3.1 Mexico Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.1.3.3.2 Mexico Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.1.3.4 Rest of North America Commercial Fan and Air Purification Equipment Market
- 7.1.3.4.1 Rest of North America Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.1.3.4.2 Rest of North America Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.2 Europe Commercial Fan and Air Purification Equipment Market
- 7.2.1 Europe Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.2.1.1 Europe Air Purification Equipment Market by Country
- 7.2.1.2 Europe Attic & Exhaust Fan Market by Country
- 7.2.1.3 Europe Others Market by Country
- 7.2.2 Europe Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.2.2.1 Europe 200 - 400 Square Ft Market by Country
- 7.2.2.2 Europe Less Than 200 Square Ft Market by Country
- 7.2.2.3 Europe More Than 400 Square Ft Market by Country
- 7.2.3 Europe Commercial Fan and Air Purification Equipment Market by Country
- 7.2.3.1 Germany Commercial Fan and Air Purification Equipment Market
- 7.2.3.1.1 Germany Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.2.3.1.2 Germany Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.2.3.2 UK Commercial Fan and Air Purification Equipment Market
- 7.2.3.2.1 UK Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.2.3.2.2 UK Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.2.3.3 France Commercial Fan and Air Purification Equipment Market
- 7.2.3.3.1 France Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.2.3.3.2 France Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.2.3.4 Russia Commercial Fan and Air Purification Equipment Market
- 7.2.3.4.1 Russia Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.2.3.4.2 Russia Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.2.3.5 Spain Commercial Fan and Air Purification Equipment Market
- 7.2.3.5.1 Spain Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.2.3.5.2 Spain Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.2.3.6 Italy Commercial Fan and Air Purification Equipment Market
- 7.2.3.6.1 Italy Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.2.3.6.2 Italy Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.2.3.7 Rest of Europe Commercial Fan and Air Purification Equipment Market
- 7.2.3.7.1 Rest of Europe Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.2.3.7.2 Rest of Europe Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.3 Asia Pacific Commercial Fan and Air Purification Equipment Market
- 7.3.1 Asia Pacific Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.3.1.1 Asia Pacific Air Purification Equipment Market by Country
- 7.3.1.2 Asia Pacific Attic & Exhaust Fan Market by Country
- 7.3.1.3 Asia Pacific Others Market by Country
- 7.3.2 Asia Pacific Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.3.2.1 Asia Pacific 200 - 400 Square Ft Market by Country
- 7.3.2.2 Asia Pacific Less Than 200 Square Ft Market by Country
- 7.3.2.3 Asia Pacific More Than 400 Square Ft Market by Country
- 7.3.3 Asia Pacific Commercial Fan and Air Purification Equipment Market by Country
- 7.3.3.1 China Commercial Fan and Air Purification Equipment Market
- 7.3.3.1.1 China Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.3.3.1.2 China Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.3.3.2 Japan Commercial Fan and Air Purification Equipment Market
- 7.3.3.2.1 Japan Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.3.3.2.2 Japan Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.3.3.3 India Commercial Fan and Air Purification Equipment Market
- 7.3.3.3.1 India Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.3.3.3.2 India Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.3.3.4 South Korea Commercial Fan and Air Purification Equipment Market
- 7.3.3.4.1 South Korea Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.3.3.4.2 South Korea Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.3.3.5 Singapore Commercial Fan and Air Purification Equipment Market
- 7.3.3.5.1 Singapore Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.3.3.5.2 Singapore Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.3.3.6 Malaysia Commercial Fan and Air Purification Equipment Market
- 7.3.3.6.1 Malaysia Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.3.3.6.2 Malaysia Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.3.3.7 Rest of Asia Pacific Commercial Fan and Air Purification Equipment Market
- 7.3.3.7.1 Rest of Asia Pacific Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.3.3.7.2 Rest of Asia Pacific Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.4 LAMEA Commercial Fan and Air Purification Equipment Market
- 7.4.1 LAMEA Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.4.1.1 LAMEA Air Purification Equipment Market by Country
- 7.4.1.2 LAMEA Attic & Exhaust Fan Market by Country
- 7.4.1.3 LAMEA Others Market by Country
- 7.4.2 LAMEA Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.4.2.1 LAMEA 200 - 400 Square Ft Market by Country
- 7.4.2.2 LAMEA Less Than 200 Square Ft Market by Country
- 7.4.2.3 LAMEA More Than 400 Square Ft Market by Country
- 7.4.3 LAMEA Commercial Fan and Air Purification Equipment Market by Country
- 7.4.3.1 Brazil Commercial Fan and Air Purification Equipment Market
- 7.4.3.1.1 Brazil Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.4.3.1.2 Brazil Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.4.3.2 Argentina Commercial Fan and Air Purification Equipment Market
- 7.4.3.2.1 Argentina Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.4.3.2.2 Argentina Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.4.3.3 UAE Commercial Fan and Air Purification Equipment Market
- 7.4.3.3.1 UAE Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.4.3.3.2 UAE Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.4.3.4 Saudi Arabia Commercial Fan and Air Purification Equipment Market
- 7.4.3.4.1 Saudi Arabia Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.4.3.4.2 Saudi Arabia Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.4.3.5 South Africa Commercial Fan and Air Purification Equipment Market
- 7.4.3.5.1 South Africa Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.4.3.5.2 South Africa Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.4.3.6 Nigeria Commercial Fan and Air Purification Equipment Market
- 7.4.3.6.1 Nigeria Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.4.3.6.2 Nigeria Commercial Fan and Air Purification Equipment Market by Power Range Type
- 7.4.3.7 Rest of LAMEA Commercial Fan and Air Purification Equipment Market
- 7.4.3.7.1 Rest of LAMEA Commercial Fan and Air Purification Equipment Market by Equipment Type
- 7.4.3.7.2 Rest of LAMEA Commercial Fan and Air Purification Equipment Market by Power Range Type
Chapter 8. Company Profiles
- 8.1 Regal Rexnord Corporation
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Research & Development Expenses
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Acquisition and Mergers:
- 8.1.6 SWOT Analysis
- 8.2 Panasonic Holdings Corporation
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental and Regional Analysis
- 8.2.4 Research & Development Expenses
- 8.2.5 SWOT Analysis
- 8.3 3M Company
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expenses
- 8.3.5 SWOT Analysis
- 8.4 Daikin Industries Ltd.
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Research & Development Expenses
- 8.4.5 Recent strategies and developments:
- 8.4.5.1 Product Launches and Product Expansions:
- 8.4.5.2 Acquisition and Mergers:
- 8.4.6 SWOT Analysis
- 8.5 Hitachi, Ltd.
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Segmental and Regional Analysis
- 8.5.4 Research & Development Expenses
- 8.5.5 Recent strategies and developments:
- 8.5.5.1 Partnerships, Collaborations, and Agreements:
- 8.5.6 SWOT Analysis
- 8.6 SPX Flow, Inc.
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental and Regional Analysis
- 8.6.4 Research & Development Expenses
- 8.6.5 Recent strategies and developments:
- 8.6.5.1 Acquisition and Mergers:
- 8.6.6 SWOT Analysis
- 8.7 Carrier Global Corporation
- 8.7.1 Company Overview
- 8.7.2 Financial Analysis
- 8.7.3 Segmental and Regional Analysis
- 8.7.4 Research & Development Expenses
- 8.7.5 Recent strategies and developments:
- 8.7.5.1 Product Launches and Product Expansions:
- 8.7.5.2 Acquisition and Mergers:
- 8.7.6 SWOT Analysis
- 8.8 Sharp Corporation
- 8.8.1 Company Overview
- 8.8.2 Financial Analysis
- 8.8.3 Segmental and Regional Analysis
- 8.8.4 Research & Development Expenses
- 8.8.5 Recent strategies and developments:
- 8.8.5.1 Product Launches and Product Expansions:
- 8.8.6 SWOT Analysis
- 8.9 Honeywell International, Inc.
- 8.9.1 Company Overview
- 8.9.3 Segmental and Regional Analysis
- 8.9.4 Research & Development Expenses
- 8.9.5 Recent strategies and developments:
- 8.9.5.1 Partnerships, Collaborations, and Agreements:
- 8.9.5.2 Product Launches and Product Expansions:
- 8.9.6 SWOT Analysis
- 8.10. Illinois Tools Works, Inc.
- 8.10.1 Company Overview
- 8.10.2 Financial Analysis
- 8.10.3 Segmental and Regional Analysis
- 8.10.4 Research & Development Expenses
- 8.10.5 SWOT Analysis
Chapter 9. Winning Imperative for Commercial Fan and Air Purification Equipment Market