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The US ventilation equipment market has been forecast to reach a value of US$3.81 billion by 2016, representing a compound annual growth rate (CAGR) of over 5% since 2006.
Key factors set to continue driving growth within the industry include the need to comply with government regulations, along with the development of next-generation equipment.
From a unit perspective slower growth has been noted, and a 2015 forecast is given as 23.65 million, compared with 23.43 million in 2006.
As with many other developed regions, the US ventilation equipment market struggled during the global recession, as new building construction and retrofit development projects were cancelled or postponed.
The US is expecting a return to growth within the construction industry in the next few years, which is likely to drive demand within the ventilation equipment market.
Growth is also likely to come from an increased focus on indoor air quality and its implications for health, as well as concerns over excessive energy use and the subsequent environmental impact. The ever-increasing cost of fuel is also expected to drive demand for efficient ventilation equipment.
Vendors in the US ventilation equipment market are currently developing next-generation equipment to meet the demand for technologically advanced equipment among end-users. Some of the large vendors in the market are developing equipment in line with the green concept, i.e., ventilation equipment that consumes relatively less energy and also results in relatively less carbon emission.
In addition, the US government encourages vendors to develop such equipment. Also, many industries and commercial buildings are becoming increasingly interested in contributing to the ecofriendly concept.
Key players currently dominating the US ventilation equipment market include Greenheck Fan Corp., CaptiveAire Systems Inc., Twin City Fan Companies Ltd., and Lau Industries Inc.
For more information on the US ventilation equipment market, see the latest research: US Ventilation Equipment Market
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