Global Industrial Ventilation Fan Market
Global Industrial Ventilation Fan Market Size to Touch USD 2.45 Billion by 2029
Published | 03 January 2023
Global industrial ventilation fan market is flourishing because of an increasing demand of energy-efficient energy fans by hospitals & clinics, high adoption of ventilation in household sector, consumers' rising environmental consciousness and the requirement for improved indoor air quality.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global industrial ventilation fan market size at USD 1.58 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global industrial ventilation fan market size to grow at a significant CAGR of 6.7% reaching a value of USD 2.45 billion by 2029. Major factors for the expansion of global industrial ventilation fan market include growing global demand for energy-efficient and environmentally friendly fans by hospitals and clinics and an increasing focus on enhancing indoor air quality. In addition, rapid population in developing economies coupled with expanding construction sector is increasing demand for large industrial ventilation fans in a variety of applications, such as condominiums, flats, hospitals, shops, offices, and malls. Fans employed in industry are classified into two types: forced ventilation and natural ventilation. An air compressor is utilized in forced ventilation to generate a high-velocity circulation of air. A fan is used in natural ventilation to circulate air from one location to another. Industrial fans are utilized in a range of industries, including chemical, pharmaceutical, and food product manufacturing. They can also be utilized to improve air quality during dyeing and printing processes in the textile sector. Hence, all these factors are expected to propel the expansion of global industrial ventilation.
Global Industrial Ventilation Fan Market – Overview
The ventilation fans are employed to circulate air in the building. It is also referred to as an exhaust fan since it offers fresh air in the surroundings and keeps the building temperature stable. Ventilation fans are becoming increasingly popular around the world. They are gaining traction as cities become more densely populated. The need for ventilation can be seen all around the world. Demand is predicted to rise because to increased construction in the residential, commercial, and industrial sectors. Furthermore, smart home initiatives are a significant component that is predicted to drive market growth in coming years. Increasing living standards and rising disposable income are increasing demand for the ventilation fan industry. A constant supply of fresh air in an operation space is essential for a healthy work environment. The degree of contamination in the air is restricted and regulated by government agencies, and businesses are required to take long-term actions to resolve these issues. Carpentry, glass production, paper manufacturing, milling, and brick manufacture are all exposed to greater levels of air pollution. As a result, these industrial manufacturing facilities constitute the primary client base for industrial ventilation fans, causing unit sales to skyrocket during the forecast period.
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Global Industrial Ventilation Fan Market – By End User
Based on end user, global industrial ventilation fan market is segmented into Industrial manufacturing, Oil & Gas, Automotive, Food & Beverages Processing, and Chemicals. The industrial manufacturing segment is expected to hold the highest market share. Ventilation fans are used to clean and disinfect polluted and warm air. These ventilation fans are necessary in dip tank, polishing and grinding, spray painting, and welding sectors in the industrial sector. Due to stringent government policies and regulations governing employee health, ventilation fans are primarily employed in the industrial sector. The industrial segment includes carpentry, glass manufacturing, paper manufacturing, milling, brick manufacturing, textile manufacturing, and agriculture.
Impact of COVID-19 on Global Industrial Ventilation Fan Market
Covid-19 had a detrimental effect on industrial ventilation fan market, due to manufacturing industries were shut to contain the virus spread. A few minor and large industry initiatives were also halted, due to a shortage of investors and the financial crisis. Furthermore, since most of those parts are manufactured in Asia-Pacific countries, industrial ventilation fan manufacturing companies had difficulty procuring raw materials, such as motors, blades, capacitors, and other parts. Industrial fan manufacturers began looking for local raw material firms to help sustain demand and supply. However, post COVID-19 related relaxations have eased the travel ban and lockdown norms due to which industries, plants, facilities, and companies have resumed resulting in high adoption of ventilation fan globally coupled with a surging demand for these fans from medical buildings.
Major players operating in global industrial ventilation fan market ACME Engineering & Manufacturing, AEROVENT, Air Control Industries Ltd., Airflow Developments Ltd., Airmaster Fans, AirMax Fans, Axair Fans UK Ltd., Continental Fan Manufacturing Inc., Ebara Corporation, Elta Fans, FAWENT SA, Ferrari Ventilatori Industriali S.p.A, Formula Air, Hartzell, Helios Ventilation, J&D Manufacturing, JKF Industri A/S, Mitsubishi Electric Corporation, Ventinet B.V., and Volution Group Plc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Industrial Ventilation Fan Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Industrial Ventilation Fan Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Industrial Ventilation Fan Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Product Type (Axial Industrial Ventilation Fans, Centrifugal Industrial Ventilation Fans); By Mounting (Wall-mounted, Ceiling-mounted); By Flow Rate (Below 100 CFM, 100-250 CFM, 250-500 CFM, 500-750 CFM, Above 750 CFM); By End User (Industrial manufacturing, Oil & Gas, Automotive, Food & Beverages Processing, Chemicals); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: January 2023
A growing need for improved indoor air quality, consumers' increasing environmental consciousness, and a spurring demand for energy-efficient fans by hospitals & clinics are projected to propel the expansion of Global industrial ventilation fan market during the forecast period 2023 and 2029.
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