The rising industries and growing demand for wind and sloar energyis driving the global fans and blowers market.
Covid-19 Impact & Market Status
The market suffered a substantial setback as a result of the COVID-19 epidemic. Various manufacturing businesses were temporarily shut down due to lockdown measures. Furthermore, in the United States, a total of USD 14.6 billion in building projects have been postponed. As a result, such obstacles had a negative influence on the market in 2020. The need for cooling equipment such blowers is projected to rise as a result of factors such as existing and planned data centres. Renewable energy facilities, on the other hand, require extremely little fan and blower infrastructure. The percentage of renewable power plants in the power generating mix is predicted to rise as several major countries move to renewable energy sources.
At a compound annual growth rate of 5.8%, the size of the worldwide Fans And Blowers market is projected to reach US$12.3 Billion in 2027.
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Industrial Fans Segment Experienced Highest Market Growth
The Global fans and blowers market is classified into industrial fans, industrial blowers on the basis of Product. Among these, the industrial fans accounted for maximum market share of Global fans and blowers market and is expected to gain maximum momentum in the forecast years 2018-2020. The key factors such as as rising metal fabiurcation, cement production, petrochemicals, chemical, food & beverage, steadily increasing global population, giving boost to the aforementioned sectors is driving industrial fans segment growth in the global fans and blowers market.
Automotive Segment Witnessed Strong Growth In 2020
The Global fans and blowers market is classified into chemical, food and beverage, petrochemicals, wood, automotive, metal fabrication, cement productions on the basis of Application. Among these, the automotive segment witnessed strong growth in 2020 and is expected to grow at fastest CAGR in forecast span 2021-2028. The key factors such as steadily rising global population, high disposable income, rising demand for vehicles is boosting the automotive segment growth in global fans and blowers market.
North America Held the Supreme Position in Global Fans and Blowers Market
North America is the most mature market in global fans and blowers market owing to key factors like accelerated growth of sectors including chemical, food and beverage, petrochemicals, wood, automotive, metal fabrication, cement productions and others. Furthermore, because of major investments in developing economies such as the United States and Canada, commercial and industrial structures are rapidly expanding. With the advent of emission reduction programmes, even established economies are likely to deploy large-scale fans and blowers for commercial buildings, resulting in a massive market expansion.
Following suite, Asia Pacific area is gaining ground. Due to rapidly rising energy consumption and an increasing number of commercial and industrial activities, China is one of the leading producers and exporters of Fans & Blowers in the world. China's growing industrial activities are projected to boost the country's fans and blowers industry, as the country strives to surpass the United States as an economic giant. India also possesses one of the world's largest chemical and petrochemical industries.
Owing to benefits such as energy efficiency, sustaining large air systems, enhanced durability of machines increased productivity, and easy daily maintenance, the fans, and blowers are experiencing rapid adoption as opposed to conventional equipment thus fostering remarkable progress in global fans and blowers market.
The factors such as rising metal fabrication, cement production, petrochemicals, chemical, food & beverage, steadily increasing global population, giving a boost to the aforementioned sectors is driving the global fans and blowers market. Furthermore, fans and blowers becoming popular choices in air applications, firms designing the finest quality components & leading techniques are furthering the development of the global fans and blowers market.
The advantages such as excellent aerodynamics properties, enegy saving, low production cost, and enhanced efficiency encourage further adoption of fans and blowers. The global fans and blowers market is estimated to rise at a CAGR of roughly 2.5 percent with a market value of 2.8 Bn USD through the forecast period 2021-2028.
Industrial fans and blowers are devices that supply a huge volume of air for a variety of purposes, including exhausting, aspirating, chilling, ventilating, air cleansing, transporting, and more. Chemicals, petrochemicals, automotive, food and beverage, chemical and fertiliser sectors, and so on all use these devices. They are classified as centrifugal, axial, mixed flow, or crossflow according on the force used to create movement.
Fans and blowers are employed in a variety of sectors, including chemical, petrochemical, and information technology, to keep indoor air quality and a dust-free working environment.
They are generally used in the power sector for cooling and exhaustion, power plant aeration, air pollution management, maintaining a steady flow of air during the power production and heat recovery process, and maintaining the proper temperature and pressure.
The global fans and blowers market is expected to expand due to rising demand from the food and beverage sectors. The global fans and blowers market is growing because to increased urbanisation and industrialisation in emerging economies. However, fluctuations in the raw material processing process are a crucial concern that might stifle market growth. Furthermore, popularion growth leading to more power consumptiuon is also loeading toi significant dmand of industrial fans and blowers. This is anticipated to be growth opportunity to the global fans and blowers market.
The major players in global fans and blowers market are Airmaster Fan, Wuhan General Group, Nidec Corporation, LOREN COOK COMPANY, HÜRNER LUFT- UND UMWELTTECHNIK GMBH, Gardner Denver, Alfa Fans, Air King America, Continental Blower, and ACME Engineering & Manufacturing among others.
Latest Innovations in Global Fans and Blowers Market:
Atlas Copco recently launched both pressure (multistage blowers) and vacuum (multistage exhausters) applications of air and gasses
Fans And Blowers Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||2.8 Bn USD|
|Growth Rate||CAGR of 2.5 % during 2021-2028|
|Segment Covered||Product, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Airmaster Fan, Wuhan General Group, Nidec Corporation, LOREN COOK COMPANY, HÜRNER LUFT- UND UMWELTTECHNIK GMBH, Gardner Denver, Alfa Fans, Air King America, Continental Blower, and ACME Engineering & Manufacturing among others.|
Segments of Global Fans And Blowers Market
Product Overview, 2018-2028 (USD Billion)
• Industrial blowers
Application Overview, 2018-2028 (USD Billion)
- Food and beverage
- Metal fabrication
- Cement productions
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa