Fans and Blowers Market Size, Industry Analysis | 2031

Report Description

The global fans and blowers market size was USD 5.37 Bn in 2022 and is likely to reach USD 6.66 Bn by 2031, expanding at a CAGR of 1.6% during 2023–2031. The market growth is attributed to the growing need for cooling systems from data centers.

Industrial fans and blowers are machines that are used to supply huge volumes of air to various areas of a structure, as well as anywhere airflow, is required for exhausting, aspirating, cooling, ventilating, transporting, and other purposes.

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Chemicals, petrochemicals, timber, automotive, food and beverage, and other sectors make use of them. Industrial fans/blowers are classified into the following categories based on the functions they perform: Axial flow, centrifugal or radial flow, mixed flow, and crossflow are the four types of flow.

Existing and future data centres are projected to operate at greater capacities. As a result, sophisticated cooling systems to regulate the temperature in these facilities are likely to be in high demand. With the start of emission reduction measures, even established economies are projected to deploy large-scale fans and blowers for commercial buildings, resulting in massive market development.

Renewable energy facilities require an extremely little fan and blower infrastructure. Several major nations transitioning to renewable energy sources, and the percentage of renewable power plants in the power generating mix is projected to rise in the future years, reducing demand for fans and blowers.

Fans and blowers are commonly used in commercial applications to deliver air at a consistent pressure for ventilation, decreasing the burden on building HVAC systems by replacing make-up air and the exhaust of odorous gases. Since the previous decade, China's economic growth has kept demand for the aforementioned industries strong.

Some of the primary causes for the downturn are government policy changes, the US-China trade war, and the country's manufacturing industry and construction sector reaching an early stage of saturation. India is home to one of the world's major chemical and petrochemical industries.

The agriculture and transportation sectors are two of the country's largest users of these products. In addition, India is expanding its refinery and petrochemical industries. As a result of this growing tendency, numerous international firms are heavily investing in Indian refineries. As a result, demand for fans and blowers is projected to rise in tandem with the expansion of these end-user sectors.

The market report finds that the COVID-19 pandemic has negatively affected the growth of the market, due to several manufacturing businesses being temporarily shut down.

Fans and Blowers Market Dynamics

The global fans and blowers market report has up-to-date insights that help in formulating a strategic roadmap about the estimated market scenario and performance during 2023 to 2031.

Drivers

The increasing demand for power consumption, due to the increased population is driving the incorporation of power generation. Moreover, the rising metal fabrication, petrochemicals, food & beverage, cement production, and chemical are driving the growth of the fans and blowers market. The growing need for colocation centres and rising investments in refineries and petrochemical industries are projected to drive market growth in the coming years.

Restraints

The continuous decline in production activities from various industries across the world is expected to restrain the global market. Factors such as supply constraints, project delays, and cost-cutting by large manufacturers are anticipated to restrain the market growth. However, increasing geopolitical tension affects the supply chain cycle, and increases the trade barriers are hindering the growth of the market.

Opportunities

Increasing urbanization and the growing population are expected to create lucrative opportunities for the market players during the projected period, due to the increasing height of buildings and congestion. The demand for ventilating equipment to make up for the unavailability of power ventilation is increasing and is expected to offer lucrative opportunities for the growth of the market.

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Scope of Fans and Blowers Market Report

The global fans and blowers market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Fans and Blowers Market Segment Insights

Based on technology, the fans and blowers market is divided into centrifugal and axial.

The centrifugal segment is expected to hold a key share of the market in the coming years, owing to rapid globalization and industrialization. The centrifugal fan or blower is a pump that moves air. The main components of a centrifugal are the motor and the impeller.

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On the basis of deployments, the fans and blowers market is segregated into industrial, and commercial.

The industrial segment is further classified into power generation, oil & gas, construction, iron & steel, chemicals, mining, and others. The industrial segment is expected to expand at a significant growth rate during the projection period. The factors such as rising cement production, metal fabrication, chemical, petrochemicals, and food & beverages are boosting the growth of the industrial segment in the market.

The commercial segment is expected to account for a key share of the market during the forecast period owing to growing urbanization and the need for commercial buildings around the world. The growing high rises, environment-controlled, and shopping malls are expected to drive the growth of the commercial segment in the market.

In terms of region, the global fans and blowers market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.

Asia Pacific is expected to dominate the market during the projection period, due to the rising demand from data centres. Southeast Asian nations including Malaysia, Vietnam, and Singapore are building new data centres intending to become the data centre industry's hub in the Asia-Pacific region.

As a result, emerging countries are projected to drive demand for fans and blowers in the data centre industry. Moreover, Japan and South Korea, for example, have ambitions to grow their manufacturing and power generation industries. As a result, demand for fans and blowers is projected to rise throughout the forecast period.

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