Portland,OR, Jan. 20, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ventilation grills market garnered $367.7 million in 2021, and is estimated to generate $543.3 million by 2031, manifesting a CAGR of 3.8% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $367.7 million |
| Market Size in 2031 | $543.3 million |
| CAGR | 3.8% |
| No. of Pages in Report | 210 |
| Segments covered | Material, Application, End-user Industry, and Region. |
| Drivers | A rise in the number of residential and commercial buildings Availability of ventilation grills in a wide range of materials such as metal, plastic, and wood Properties of ventilation grills such as easy installation, long durability and cost efficiency |
| Opportunities | Growth of the manufacturing industry |
| Restraints | Difficult installation |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global ventilation grills market, owing to implementation of global lockdown which resulted to temporary closure of the production of ventilation grills.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced shortage of labor and unavailability of raw materials.
- However, owing to the introduction of various vaccines, the severity of the COVID-19 pandemic reduced significantly. As of mid-2022, the number of COVID-19 cases reduced significantly. This has led to the considerable recovery of the real estate industry and also resulted in the full-fledged reopening of ventilation grill manufacturing facilities.
- Moreover, it has been more than two years since the outbreak of this pandemic, and many companies have already shown significant signs of recovery.
The research provides detailed segmentation of the global ventilation grills market based on Material, Application, End-user Industry, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on material, the metal segment held the highest share in 2021, accounting for two-thirds of the global ventilation grills market, and is expected to continue its leadership status during the forecast period. However, the plastic segment is expected to register the highest CAGR of 4.3% from 2022 to 2031.
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Based on application, the air supply segment accounted for the highest share in 2021, contributing to nearly three-fourths of the global ventilation grills market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the exhaust segment is expected to manifest the highest CAGR of 4.1% from 2022 to 2031.
Based on end user industry, the residential segment accounted for the highest share in 2021, holding more than three-fifths of the global ventilation grills market, and is expected to continue its leadership status during the forecast period. However, the non-residential segment is estimated to grow at the highest CAGR of 4.0% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to more than one-third of the global ventilation grills market share, and is projected to maintain its dominant share in terms of revenue in 2031. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 4.4% during the forecast period.
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Key Players:
Leading market players of the global ventilation grills market analyzed in the research include Hafele Groups, TROX GmbH, Systemair Group, Zanardo S.p.A, Dhariwal Industries, American Aldes Ventilation Corporation, Aruna Techno Industries, TANGRA - AV Ltd., Rytons Building Products Ltd, and Dospel Sp. Z.o.o.
The report provides a detailed analysis of these key players of the global ventilation grills market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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