Ventilation Grills Market Trends

Growth Drivers

• Growing Manufacturing Sector - Ventilation grills’ demand is anticipated to rise in these facilities as the industrial sector expand. Ventilation grills are becoming more popular in manufacturing facilities due to technological improvements that have made them more effective and simpler to install. As per IBEF; prior to the pandemic, the manufacturing sector in India accounted for 16–17% of the nation's GDP, and it is expected to increase at one of the quickest rates. Further, according to International Trade Administration; the Japanese government has set aside USD 1.62 billion to promote Japanese SMEs within the framework of its fiscal year 2022 expenditure budget. It is anticipated that Japanese manufacturing enterprises have invested USD 890 million on digital infrastructure. By 2030, this amount is predicted to increase to USD 4.1 billion. This growth of manufacturing sector would support the expansion of ventilation grills market.
• Rising Adoption of HVAC Systems- The adoption of energy-efficiency heating, ventilation, and air conditioning systems which need to be equipped with grills is also a result of the regulations aimed at reducing carbon emissions and promoting energy efficiency. The development of smart, connected HVAC systems with remote control and automation functions for better airflow management is another effect of technological improvements.
• Increasing Awareness Regarding Ventilation- Increased public awareness of ventilation & air quality improvement is a factor that is driving the market for ventilation grills. Appropriately placed ventilation grills aid in a number of ways in improving the quality of the air. As a result, air contaminants like pollen and dust are removed, lowering the chance of developing new health problems and enabling the air to flow easily and prevent getting stagnant. In order to reduce moisture buildup in the home and place of business, ventilation grills and air vents are essential. Such ventilation tunnels also stop gas leaks from accumulating and help to prevent accidents when gas leaks do occur. In consideration to these aspects, with the increased awareness regarding ventilation, the ventilation grills market is estimated to witness growth. 

Challenges

• Limited Consumer awareness- While the awareness of indoor air quality is increasing, many consumers are still not aware of the importance of proper ventilation systems and may not see the need for ventilation grills. This lack of awareness restrains the demand for the market, particularly in a residential application where homeowners may not see the need for these products.
• Supply chain disruptions in response to the pandemic
• Complexity in regard to installation of ventilation ducts.