Industrial Exhaust System Market An Expected Closing Value Worth US$ 6,930.3 Million by 2032 | Get Insights FMI
The global industrial exhaust system market is expected to accumulate US$ 4,378.1 Million in value by 2022-end. During the forecast period ranging from 2022 to 2032, a CAGR worth 4.7% has been projected for the market, with an expected closing value worth US$ 6,930.3 Million. During the 2016-2021 historical period, the industry grew at a value CAGR worth 3.8%.
An Industrial exhaust system is a system consisting of various components, such as fans, ducts, vents, pipes, collectors, etc. These components connect the hood to the chimney. An industrial exhaust system removes the contaminated air (which contains dust particles, fumes, shavings, chemicals and other hazardous components) from the air present in the workplace.
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These systems are placed at the source using ducts and pipes so as to avoid the mixing of harmful air with fresh air. The main objective of planting industrial exhaust systems into the workplace of any industry is to keep the environment of the area clean and safe so that the workers feel comfortable and can work efficiently.
The Industrial exhaust systems are mainly used for controlling the heat generated at the workplace by exhausting the warm air and for removing contaminated air from the place to maintain internal pressure and temperature at a safe level.
The Industrial exhaust systems are of two types – general industrial exhaust systems and local industrial exhaust systems. The local industrial exhaust systems are in general more reliable, effective and efficient as compared to general industrial exhaust systems. The general industrial exhaust systems require a high flow rate of heat, which usually leads to high costs for air cleaning equipment. Local industrial exhaust systems, due to their low flow rate, are cost effective.
Industrial Exhaust systems Market: Dynamics
Expanding industrialization across the globe in industries, such as chemical, automobile and textile, and increasing manufacturing of steel products and electrical equipment is expected to drive the demand for industrial exhaust systems. Also, some acrimonious norms set by government authorities in numerous countries are driving the demand for industrial exhaust systems and hence, the market is growing.
In contrast, factors, such as the high cost associated with the light weight of the components used in exhaust systems, after sales services of products, etc. are acting as restraints for the market of industrial exhaust systems. Simultaneously, fluctuating prices of some metals, which are used in the making of industrial exhaust systems can be a challenge for the market. However, some factors, such as a rising production of vehicles, rise in vehicle sales and rise in global industrialization are expected to create strong opportunities for this market. Additionally, increasing usage of non-noble metals in the production of industrial exhaust systems is a key trend in the industry.
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Industrial Exhaust systems Market: Regional Outlook
In terms of value, the Asia Pacific region has captured a comparatively large market share of the Industrial exhaust system market. It is followed by Europe and then North America. However, both the regions, i.e. North America and Europe are expected to grow at the same CAGR but with increasing rate of growth. The demand for industrial exhaust systems in some countries of the Asia Pacific region, such as China, India and South Korea is anticipated to grow due to the constant growth of the chemical and textile industries in the aforesaid region. Additionally, Europe can be considered a potential market for the industry.
This can be attributed to the forthcoming emission standards targeting reduction of some harmful gases, such as carbon monoxide, from several industries. Moreover, Europe and North America project many promising opportunities for the market of Industrial Exhaust systems as these regions are the hub for chemical manufacturing. The demand for Industrial Exhaust systems is predicted to grow at a lucrative rate of growth over the forecasted period which can be attributed to the rise in demand from manufacturing and textile industries.
Industrial Exhaust systems Market: Market Participants
Examples of some of the market participants identified across the value chain of the Industrial Exhaust systems market are AirPro Fan & Blower Co., American Warming & Ventilating, American Coolair Corporation, TROX GmbH, Greenheck Fan Corporation, Mestek, Inc., LOREN COOK COMPANY, PennBarry, Twin City Fan Companies, Ltd., S&P USA Ventilation Systems, LLC, Moffitt Corporation, Scott Systems, AXCES, etc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Industrial Exhaust systems Market: Segmentation
Market segmentation of the industrial Exhaust systems market on the basis of type can be done as follows:
- General exhaust system
- Local exhaust system
Market segmentation of the industrial exhaust systems market on the basis of the end use industry can be done as follows:
- Oil and Gas industry
- Chemical industry
- Metal and Mining industry
- Textile industry
- Automobile industry
- Other industries