In 2021, the New Zealand ventilation products market was valued at $113.8 million and is projected to touch $183.2 million in 2030. The market is predicted to grow at a 5.4% CAGR from 2021 to 2030 owing to the growing count of commercial and residential projects, rising inclination toward decentralized ventilation, increasing awareness about the environment and health. By removing odor, these products develop a sustainable atmosphere. Furthermore, as inhalation of harmful pollutants and chemicals can adversely affect health, there will be a surge in the need for such solutions in the forecast period.
The rapid adoption of technological advancements will drive the New Zealand ventilation products market. This can be ascribed to the consistent efforts of producers who have developed ventilation products that provide protection against pollutants, viruses, and bacteria amid the spread of the pandemic. There is a paradigm shift among the companies for an amplified filtration ability. This assists in curbing the accumulation of pollutants and germs in the vicinity. However, this has the disadvantage of causing a high drop in pressure within spaces. Other technological innovations include active neutralization measures and smart sensing technology.
The energy-efficient ventilation systems will spur the New Zealand ventilation products market growth. In an attempt to meet the global sustainability standards by curbing the level of pollution, there is a strong inclination toward energy-efficient ventilation systems. This has made people more aware of indoor air quality amid high-volume carbon emissions. These products lower the carbon-dioxide concentration and have an enhanced ability for ventilation. This makes it appropriate for a numerous people, thereby reducing the spread of communicable diseases. Moreover, lowering the waste heat emissions would enhance energy efficiency.
The residential area accounted for more than 80% of the total revenue share and dominated the 2021 New Zealand ventilation products market. This can be credited to surging healthcare concerns, especially after the outbreak of COVID-19. People have become increasingly aware of deteriorating health conditions like the risk of spreading transmittable diseases. Since the accumulation of germs, viruses, and pollutants can be significantly reduced with the help of ventilation products, there will be skyrocketing requirements for these products in residential sector.
The commercial sector will generate a large revenue in the New Zealand ventilation products market and is projected to advance at a 4.0% CAGR in the coming years, as per volume. This is because of the developing hospitality sector and increasing the count of commercial buildings and offices. In addition, tourism is booming in this country which further is a reason for improved infrastructure such as hotels, hospitals, and airports, coupled with an influx of high investment in the tourism sector. For instance, the count of travelers was about 5000 in New Zealand in January 2021 and it skyrocketed to approximately 8400 within a year.
Hence, the increasing commercial and residential projects, coupled with growing environmental awareness will increase the demand for ventilation products.
