Market Size of Fans And Blowers Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 2.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*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.
