Fans and Blowers Market Size
|2020 - 2029
|Base Year For Estimation
|> 2.50 %
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Fans and Blowers Market Analysis
The fans and blowers market is expected to register a CAGR of 2.5% during the forecast period.
The COVID-19 pandemic affected the market studied, as lockdown measures temporarily shut down various manufacturing industries, and there were no new manufacturing or construction projects in 2020. Currently, the market has rebounded to pre-pandemic levels.
- The growing multitude of commercial places, like data centers, corporate offices, etc., and the increasing industrialization in many developing countries are expected to drive the fans and blowers market's growth during the forecast period.
- Renewable power plants require minimal infrastructure for fans and blowers. With many major countries shifting toward renewable energy sources, the share of renewable power plants in the power generation mix is expected to increase over the coming years, which, in turn, is expected to restrain the demand for fans and blowers.
- The increasing urbanization and growing population present an opportunity for the market. The average height of buildings and congestion have been increasing. Since this trend is expected to continue during the forecast period, the demand for ventilating equipment to make up for the unavailability of proper ventilation is expected to increase, providing an opportunity for the market's growth.
Fans and Blowers Market Trends
Industrial Segment Expected to Dominate the Market
- Fans and blowers are used in various industries, like chemicals, oil and gas, steel plants, food manufacturing, etc., to maintain indoor air quality and a dust-free environment for people to work in. The growing trend of industrialization in many countries, with new factories, power plants, and other manufacturing sectors, is expected to drive the market's growth
- The most air-equipment-consuming industries are iron and steel plants, chemical plants, fuel-based power plants, etc., which have seen a proliferation in recent years. For example, in August 2022, the government of India planned to build six steel plants in Odisha. The investors for the project include Tata Steel, ArcelorMittal, Nippon Steel, and the Adani Group. The chemical industry is advancing in the current scenario, particularly in developing countries.
- For example, in April 2022, INEOS Nitriles planned to establish a chemical plant in Koln, Germany, to produce acetonitrile. The French chemical companies tabled new plans for setting up new chemical parks and clusters in the country.
- Major player in the market is also investing in the expansion of operations to cater the needs of industrial fans and blowers. For instance, in April 2023, Howden announced that they plas to set up a branch in Brazil to expand its Latin American presence. Customers have 24-hour access to the service center, which provides hardware procurement, aftermarket service support, and hardware specialized assistance for product range of industrial fans and blowers.
- Due to such developments, the industrial sector is anticipated to overshadow other deployment segments during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to have the largest market share in the near future due to the high demand for such products from countries like China, India, Japan, etc. The growing rate of urbanization with the proliferation of industrial and commercial units is the key factor responsible for the high demand.
- In countries like China and India, oil and gas and petrochemical projects, iron and steel plant projects, and power generation projects have witnessed growth in recent years. The trend is expected to continue in the unfolding scene due to the upcoming industrial projects.
- For example, countries like China are still developing the fuel-based power generation sector. In the first quarter of 2022, the provincial governments of many states in China approved new plans to add around 8.3 GW of coal-based power generation plants. The states include Hunan, Shaanxi, Gansu, Anhui, Zhejiang, and Fujian.
- Several refinery projects have been planned in India. For example, in July 2022, the Rajasthan government entered into an agreement with HPCL to set up a refinery and petrochemical complex in the Barmer district of Rajasthan. The project includes 13 mechanical units with a combined capacity of 9 million metric tons per year. It is expected to be operational by 2024.
- Such projects are expected to bolster the demand for fans and blowers in Asia-Pacific during the forecast period.
Fans and Blowers Industry Overview
The fans and blowers market is fragmented. Some of the major players in the market (in no particular order) include Acme Engineering & Manufacturing Corp., Airmaster Fan Company Inc., and Continental Blower LLC.
Fans and Blowers Market Leaders
Acme Engineering & Manufacturing Corp
Flakt Woods Group SA
Gardner Denver Inc.
Howden Group Ltd
Crompton Greaves Power and Industrial Solutions Limited
*Disclaimer: Major Players sorted in no particular order
Fans and Blowers Market News
- March 2023: Saudi Aramco and its Chinese partners announced that they aim to start full operations of a refinery and petrochemical project in northeast China in 2026. The project is located in Liaoning province's city of Panjin and is expected to cost USD 10 billion.
- December 2022: Saudi Arabian Oil Company and TotalEnergies announced that they had taken the final investment decision for the construction of a petrochemical facility in Saudi Arabia. The 'Amiral' complex will be owned, operated, and integrated with the existing SATORP refinery located in Jubail.
Fans and Blowers Market Report - Table of Contents
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2028
4.3 Recent Trends and Developments
4.4 Market Dynamics
4.5 Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products and Services
4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Technology
5.2 By Deployment
220.127.116.11 Power Generation
18.104.22.168 Oil and Gas
22.214.171.124 Iron and Steel
126.96.36.199 Other Industries
5.3 By Geography
5.3.1 North America
5.3.4 South America
5.3.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Acme Engineering & Manufacturing Corp.
6.3.2 Airmaster Fan Company Inc.
6.3.3 Continental Blower LLC
6.3.4 CG Power and Industrial Solutions Limited
6.3.5 DongKun Industrial Co. Ltd.
6.3.6 Flakt Woods Group SA
6.3.7 Gardner Denver Inc.
6.3.8 Greenheck Fan Corp.
6.3.9 Howden Group Ltd
6.3.10 Loren Cook Company
6.3.11 Pollrich GmbH
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Fans and Blowers Market Research FAQs
What is the current Fans And Blowers Market size?
The Fans And Blowers Market is projected to register a CAGR of greater than 2.5% during the forecast period (2024-2029)
Who are the key players in Fans And Blowers Market?
Acme Engineering & Manufacturing Corp, Flakt Woods Group SA, Gardner Denver Inc., Howden Group Ltd and Crompton Greaves Power and Industrial Solutions Limited are the major companies operating in the Fans And Blowers Market.
Which is the fastest growing region in Fans And Blowers Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Fans And Blowers Market?
In 2024, the Asia-Pacific accounts for the largest market share in Fans And Blowers Market.
What years does this Fans And Blowers Market cover?
The report covers the Fans And Blowers Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Fans And Blowers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Fans and Blowers Industry Report
Statistics for the 2024 Fans And Blowers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fans And Blowers analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.