Industrial Fans Market Size and Growth Trends to 2028

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Industrial Fans Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Technology (Centrifugal and Axial) and Industry (Chemical & Petrochemicals, Healthcare, Automotive Manufacturing, Food & Beverage, Oil & Gas, Mining, and Others)

Publication Month: Jan 2023 | Report Code: TIPRE00029818 | No. of Pages: 150 | Category: Electronics and Semiconductor | Status: Published

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

Report Coverage - Industrial Fans Market
Report CoverageDetails
Market Size Value inUS$ 8,010.30 million in 2022
Market Size Value byUS$ 12,643.10 million by 2028
Growth rateCAGR of 7.9% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages150
No. of Tables61
No. of Charts & Figures75
Historical data availableYes
Segments coveredTechnology, and Industry
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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

Lucrative Regions: Industrial Fans Market Share

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Market Insight – Industrial Fans Market

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.

Frequently Asked Questions

The industrial fans market was estimated to be US$ 8,010.30 million in 2022 and is expected to grow at a CAGR of 7.9%, during the forecast period 2022 - 2028.
Industrial fans are crucial and mandatory for any industrial process. It is widely used in chemical, manufacturing, engineering, cement production, heating & ventilation, mining, and many other industries. These fans provide a safe, secure, comfortable, and productive working environment for long hours and days. Therefore, the growing use of industrial fans in several industries such as oil & gas, cement, chemical, mining, and manufacturing is driving the industrial fans market growth.
The rising power consumption will further increase the incorporation of power generation units such as nuclear power plants, hydropower plants, coal, and thermal power plants. Such power plants will require industrial fans for combustion and provide cooling to the inverters and generators., which will further increase the demand for industrial fans in coming years. Thus, the increasing demand for power and electricity is likely to provide ample opportunities for the industrial fans market growth during the forecast period.
Asia Pacific dominated the industrial fans market in 2021. The rise in government initiatives across countries in APAC, such as China and India, to promote the local manufacturing industry is expected to boost the demand for Industrial fans from the manufacturing plants. The rise in the industry plants across the APAC countries is further expected to increase the demand for Industrial fans, thereby contributing to the growth of the APAC Industrial fans market.
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 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 the leading companies in the industrial fans market.

The List of Companies - Industrial Fans Market

  1. Witt & Sohn AG
  2. Airmaster Fan Co
  3. Johnson Controls International Plc
  4. FlaktGroup Holding GmbH
  5. Systemair AB
  6. ebm papst Inc
  7. Greenheck Fan Corp
  8. Jan Fan Inc
  9. Savio SRL
  10. Wilkinson Dynamic Balancing Ltd
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global industrial fans market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global industrial fans market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
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