Rising Urbanization, Growing Popularity of Solar Systems, and Emergence of Smart Cities Driving the Solar Ventilation Systems Market Expansion in North America & Europe
Seoul, South Korea, July 14, 2022 (GLOBE NEWSWIRE) -- A market research and competitive intelligence provider – Fact.MR, says that the global solar ventilation systems market would reach US$ 1.31 Billion in 2022 have a CAGR of 4.6% between 2022 and 2032. Fact.MR has focused on the fact that investments in housing development are witnessing a substantiation. Along these lines, the global solar ventilation systems market is projected to reach US$ 2.05 Billion by the year 2032.
With development of smart cities on the anvil, the demand for solar ventilation systems market is expected to rise at a stupendous rate in the forecast period. Both – commercial and residential complexes ask for solar ventilation systems. Plus, there are government subsidies provided all across, so as to benefit manufacturers as well as the end-consumers of these systems.
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Europe accounts for 21.7% share of the global solar ventilation systems market. In Europe, government subsidies for solar ventilation systems have benefitted the manufacturers of solar ventilation systems as well as customers for panel pricing. Moreover, the emergence of smart cities is also expected to exert a positive influence with the use of solar ventilation systems on every rooftop and commercial building.
Which Mounting Type of Solar Ventilation Systems Holds High Market Share?
“Increasing Need to Improve Air Quality in Residential Buildings Driving Demand for Roof-mounted Solar Ventilation Systems”
Based on mounting type, the global solar ventilation systems market can be classified into gable-mounted and roof-mounted. Sales of roof-mounted solar ventilation systems are anticipated to rise at the highest CAGR over the forecast period.
The most popular roof-mounted solar ventilation systems need little maintenance. During the projection period, there is anticipated to be an increase in demand for roof-mounted solar ventilation systems due to the need to improve the air quality in residential buildings.
In comparison to typical roof vents, roof-mounted solar ventilation systems include vents with solar panels as energy conversion platforms. Over the forecast period, roof-mounted solar ventilation systems are expected to be increasingly used as essential ventilation equipment.
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Key Segments Covered in Solar Ventilation Systems Industry Survey
Solar Ventilation Systems Market by Mounting Type :
Solar Ventilation Systems Market by Output Power :
Less than 10 Watts Solar Ventilation Systems
10 Watts - 20 Watts Solar Ventilation Systems
More than 20 Watts Solar Ventilation Systems
Solar Ventilation Systems Market by Application :
Solar Ventilation Systems Market by Region :
Technological innovations are the cornerstone of the solar ventilation systems market.
Researchers at the KTU (Kaunas University of Technology) Start-up Space are into development of an energy-efficient, but no noisy solar ventilation system known as “Oxygen”, which is capable of retaining heat by up to 89%.
Solar Royal did introduce SR1800 series solar ventilation systems, which do provide aesthetics as well as functionality. They come with low-profile design, thereby imparting an appropriate look to the rooftops – let location be any.
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Key players in the Solar Ventilation Systems Market
Key Takeaways from Solar Ventilation Systems Market Study
North America contributes for 26.4% of the overall revenue.
Europe accounts for 21.7% of the market share.
Call for more usage of renewable sources of energy to keep up the momentum for solar ventilation systems
More number of start-ups to come up looking at the long-term advantages
Roof-mounted solar ventilation systems to be in greater demand in the forecast period in the wake of need to enhance quality of air in residential buildings
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Aerial Work Platforms Market- The global aerial work platforms market, the market is gaining traction steadily, expected to ascend at around 6% CAGR through 2031. As per the report, the market is likely to be valued at US$ 9.3 Bn by 2021. Preference for boom lifts will remain dominant, with a predicted absolute opportunity worth US$ 2.5 Bn during the forecast period.
Brushless DC Motors Market- The worldwide brushless DC motor market was estimated at US$ 18 Billion in 2021 and is predicted to increase at a CAGR of 6.3% during the forecast period from 2022 to 2032. As of 2022, the industry is forecast to be valued at US$ 19 Billion, representing a Y-o-Y increase of 5.5%.
Pre-Painted Steel Coil Market- The pre-painted steel coil market has garnered a market value of US$ 10.64 Bn in 2022, anticipated to register a positive CAGR of 6.4% in the forecast period 2022-2032 and reach a value of US$ 19.79 Bn.
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