Smart Vent Market Size, Share, Growth Report 2032

Smart Vent Market Insights

According to a report from Zion Market Research, the global Smart Vent Market was valued at USD 39.03 Billion in 2023 and is projected to hit USD 78.03 Billion by 2032, with a compound annual growth rate (CAGR) of 8% during the forecast period 2024-2032.

This report explores market strengths, weaknesses, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and future prospects that may emerge in the Smart Vent Market industry over the next decade.

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Global Smart Vent Market: Overview

A ventilation system that operates on the basis of the room temperature preference of an individual is called a smart ventilation system. Smart vents are integrated with temperature and pressure sensors, for maintaining a balance between under-conditioned and over-conditioned rooms.

In smart vents, complete ventilation procedure is controlled by smart electronic devices, such as smartphones and tablets. The main motive of a smart vent is to decrease energy usage and overall expense as compared to continuously operating simple ventilation systems without compromising indoor air quality (IAQ).

COVID-19 Impact Analysis

The COVID-19 pandemic has affected the sales of modern smart vents worldwide. The residential sector is the most influenced industry after the commercial industry because of the spread of COVID-19. Due slowdown in the construction industry, and now due to the lockdown due to COVID-19 has created further problems for the smart vent business.

Smart Vent Market: Growth Factors

Air quality in and around a building is termed Indoor Air Quality (IAQ). The comfort and health of a building's occupants rely on the IAQ eventually. The globally rising concerns of maintaining healthy IAQ to control health issues are fueling the smart vent market. Smart vents effectively enhance the natural air infiltration to prevent various health problems. Moreover, a smart ventilation system provides both qualitative and quantitative data required for demonstrating procedures that maintain the overall IAQ. Smart vents attenuate radon particles and prevent smoke entry at a reasonable cost. The global adoption of smart vents is rising to reduce health costs in airtight infrastructure with inadequate ventilation systems.

Low awareness of various benefits offered by smart ventilation systems, such as reduced energy consumption, and improvisation of IAQ (Indoor Air Quality), may restrain the smart vent market. Many developing economies are unaware of the importance of smart vents and are still relying on traditional ventilation methods. However, such traditional approaches are observed to be ineffective in the current scenario and are leading to severe health issues. Various emerging localities are unaware that smart vents are not only user-friendly with multiple customized options but also significantly help in lowering different respiratory health issues by maintaining an optimum IAQ level.

Smart Vent Market: Report Scope

Smart Vent Market: Segmentation Analysis

The global smart vent market is further sub-segmented as residential and commercial. Residential contributes about 65% of the total market share for the smart vent market.

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Globally Installation segment is further sub-segmented as Floor, Ceiling, and Wall.

Smart Vent Market: Regional Analysis

The North American smart vent market is mainly driven by the rising applications of smart HVAC in residential and commercial sectors. The region’s cold climate is getting colder with every passing year due to global warming. A smart HVAC system in North American countries is mainly utilized for warming the room to optimum temperature. Smart ventilation for ceilings is widely opted in the U.S., Canada, and Mexico for warming house roofs. Construction spending in the U.S. exceeded USD 1.31 trillion. The flourishing construction industry is significantly fueling the smart vent market in the region. The U.S. will hold the largest market share, due to the developing smart home construction industry.

The Asia Pacific is a major smart vent market globally, due to the rising smart home constructions and building automation and global warming. Developing Asia Pacific economies of China and India are opting for technically advanced and eco-friendly solutions like variable refrigerant flow technology. Furthermore, various government regulations, like the Indian Bureau of Energy Efficiency and Labeling Standards, have mandated builders to use smart HVAC devices in their infrastructural projects. Due to the growing global warming, governments of Asia Pacific countries are implementing strict rules for making overall ventilation systems more energy-efficient and eco-friendly along with reducing costs and energy consumption. China is projected to hold the largest smart vent market share, due to its flourishing building automation sector in the upcoming years.

The rising energy-efficient device demand in European countries is driving the region’s smart vent market. European countries are opting for smart ventilation systems for warming their homes. Moreover, the smart vent market will generate lucrative opportunities in Europe over the forecast time period, owing to rising technological enhancements that have resulted in IoT integration with smart vents. Germany will dominate in this regional market, owing to the growing number of smart homes.

Smart Vent Market: Competitive Analysis

Some of the major players in the global Smart Vent market include:

• SR Electrical
• DCI Products
• Ecovent Systems
• Enerbee
• Flair
• IPS Roofing Products
• Keen Home (ConnectM Technology)
• Nest Labs
• Rowan
• Dron Electrical
• San Mao Technology

The global smart vent market is segmented as follows:

By Installation

• Floor
• Ceiling
• Wall

By End-Use

• Residential
• Commercial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa