Industrial Fans Market Size and Growth Trends to 2028

The industrial fans market is expected to grow from US$ 8,010.30 million in 2022 to US$ 12,643.10 million by 2028; it is anticipated to register at a CAGR of 7.9% from 2022 to 2028.

The primary purpose of industrial fans is to blow cold air and drive hot air out of the environment. There is a wide range of uses for industrial fans, from cooling large industrial spaces to providing cooling for technical assembly operations. The two primary types of industrial fans are axial and centrifugal. A centrifugal fan is similar to a blower, an enclosed unit that functions like a pump that pulls air in using a rapidly rotating impeller and then pushes it out at a 90° angle. An axial fan pulls and blows air parallel to its axis, causing the air to transfer axially outward. The motor, rotor shaft, and blades or impellers are fundamental components of an industrial fan assembly. Industrial fans are highly efficient and heavy-duty air flow devices that can withstand stringent environments and operate longer to provide constant airflow and pressure. Every industry requires an airflow system to ensure a safe working environment, propelling the adoption of industrial fans market analysis among the end user.

Increasing demand from the food & beverage industries and growing usage of industrial fans in several industries such as oil & gas, cement, chemical, mining, and manufacturing are among the factors driving the industrial fans market growth of the industrial fans market. Further, surging demand for power consumption is expected to provide lucrative opportunities for the market during the forecast period. Technological advancements in industrial fans are expected to emerge as a trend in the industrial fans market players during the forecast period.

Strategic Insights

Impact of COVID-19 Pandemic on Industrial Fans Market Share

The impact of COVID-19 pandemic has significantly affected the industrial fans market players in 2020. The ban on commercial activities has disrupted the industrial supply chain from procuring raw materials to supplying finished goods. There was a decline in demand for industrial fans from the commercial sectors due to disruptions in construction & manufacturing operations and restrictions on international trade as restrictions were imposed on the borders of countries. However, the constantly growing healthcare industry created a massive demand for industrial fans to maintain the required temperature conditions in the healthcare facilities, safely transport and store medicines, keep patients and caregivers safe and comfortable in traditional healthcare facilities and emergency hospitals assembled in halls, and maintain the temperature in car parks and other municipal spaces.

Lucrative Regions: Industrial Fans Market Share

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Technological Advancement in Industrial Fans

Industrial fans are used for heat reduction applications, where cold air is blown to cool the industrial environment and processes. As the power requirement of applications and systems increases, the need for higher-power cooling also rises. Industrial fan design is evolving to meet these needs as an ideal method for improving performance at a relatively low cost. Various technological advancements were made to develop modern centrifugal and axial industrial fans to reduce the energy consumption of ventilation systems in modern buildings and structures. Industrial fans were undergoing several improvements to maximize output while conserving energy. The major improvements in industrial fan technology are an increase in energy efficiency, expansion of the working area for airflow rates at specified dimensions and speeds, noise reduction, and optimization of design performance. Thus, technological advancements in industrial fans are expected to fuel the industrial fans market analysis over the forecast period.

Technology-Based Insights

Based on technology, the industrial fans market is bifurcated into centrifugal and axial. The axial segment dominated the industrial fans market analysis in 2021. The use of axial fans continues to increase in confined cooling spaces, including server rooms and workspaces, as it provides low-pressure and high-volume airflow. Moreover, axial fans change the flow direction of gas; the gas flows in the axial direction parallel to the shaft about which the fan blades rotate. Such fans rotate at variable rates to supply the equipment with fresh air, thereby maintaining optimum operating temperatures. The rising demand for axial fans from various industries such as automotive, oil & gas, healthcare, and food & beverages is driving the industrial fans market growth.

Players operating in the industrial fans market are mainly focused on the development of advanced and efficient products.

• In December 2021, Greenheck Fan Corp—a leading company in engineering and manufacturing air movement, conditioning, and control equipment—incorporated Northern Light UV-C technology into its line of AMPLIFY overhead HVLS fans. These fans help control airborne pathogens in medical facilities and are recommended by the CDC, ASHRAE, and other organizations.
• In October 2021, FläktGroup, a leading company providing Critical Ventilation Solutions and Indoor Air Quality, launched a JMv(G) high-efficiency axial fan range. JMvG Axial Fans were developed to help customers achieve “Net Zero” targets and maximize aerodynamic efficiencies. JMvG range is suitable for industrial process applications because they provide comparatively higher volume and pressure envelopes.

The global industrial fan market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. The APAC industrial fan market accounted for the largest market share, and it is also expected to grow at the highest CAGR over the forecast period.

Witt & Sohn AG, Airmaster Fan Co, Johnson Controls International Plc, FlaktGroup Holding GmbH, Systemair AB, ebm papst Inc, Greenheck Fan Corp, Jan Fan Inc, Savio SRL, and Wilkinson Dynamic Balancing Ltd are a few of the key industrial fans market players operating in the market. The market report provides detailed market insights, which help the key players strategize the industrial fans market growth for the coming years.