United States, Rockville, MD, April 12, 2022 (GLOBE NEWSWIRE) -- Analysis by Fact.MR, a market research and competitive intelligence provider, reveals that the industrial ventilation fan market is expected to expand at a CAGR of 7% by value over the period of forecast (2022-2032).
Worldwide, around 45% of industrial infrastructure where ventilation fans are used is over a decade old. In regions such as Europe and the U.S., the ratio of new infrastructure vs old infrastructure is very low. In such industrial clusters, companies have prioritized manufacturing facility revamp, and have also invested in non-core equipment such as ventilation fans. In Western European countries, an average of 14.7% increase in spending on non-core industrial equipment has been reported, and a portion of this spending has also diluted to spending on ventilation fans.
Browse in-depth TOC on "Propeller Industrial Ventilation Fans Demand Analysis"
70 Tables and
121 Figures
170 Pages
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Prominent market participants are going for certifications from various organizations and associations that their product is safe to use, sustainable, reliable, and durable. Moreover, localization of manufacturing facilities in developing regions has recalibrated the demand for domestic markets. Market players are channelizing their resources to develop a higher market presence across regional markets.
Industrial ventilation fans have been through continuous product development with robust research & development. Changes in design, features, functionality, efficiency, etc., are fuelling demand. As per the latest analysis by Fact.MR, industrial ventilation fan market share is close to 35% of the global ventilation fan market size.
Key Takeaways from Market Study
- The industrial ventilation fan market is estimated to reach a valuation of US$ 2.2 Mn at the end of 2032.
- On the basis of product type, demand for axial fans and centrifugal fans is likely to increase at a CAGR of 7.6% over the forecast period.
- Analysis on mounting type reveals that, demand for wall-mounted and ceiling-mounted fans is likely to expand at CAGRs of 7.9% and 6.6%, respectively.
- Segmentation on the basis of flow rate reveals that, the below 100 CFM segment is poised to expand at a CAGR of 8.6%.
- The East Asia region is expected to create an absolute dollar opportunity of US$ 225 Mn in 2032 over 2022.
“Growing HVAC industry is likely accelerate the installation of industrial ventilation fan across industrial manufacturing and automotive companies,” says a Fact.MR analyst.
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Winning Strategy
Manufacturers of industrial ventilation fans are operating under high operational costs. Costs of resources used to maintain their presence or existence are very high in this industry. New entrants are likely to gain a lot if they function by keeping their operating costs at low levels from the point of starting their business.
Manufacturers already present in business can cut their costs from three sources, i.e., fixed costs, variable costs, and semi-variable costs. Reduced operational costs will provide an opportunity for them to enhance their profitability.
Leading manufacturers of industrial ventilation fans are 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, Industrie CBI S.p.a., Indventech, J&D Manufacturing, JKF Industri A/S, Maico Gulf, Mitsubishi Electric Corporation, MZ Aspiratori S.p.A, New York Blower Company, Panasonic Corporation, Patterson Fan Company, Inc., Polypipe Ventilation (Genuit Group), Reitz Group, Rucon, SAMA S.r.l., TPI Corporation, Ventinet B.V., and Volution Group Plc.
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Segments Covered in Industrial Ventilation Fan Industry Analysis
- Industrial Ventilation Fan Market by Product Type:
- Axial Industrial Ventilation Fans
- Propeller Industrial Ventilation Fans
- Tubeaxial Industrial Ventilation Fans
- Vaneaxial Industrial Ventilation Fans
- Centrifugal Industrial Ventilation Fans
- Forward Inclined Blade Fans
- Radial Blade Fans
- Backward Inclined Blade Fans
- Axial Industrial Ventilation Fans
- Industrial Ventilation Fan Market by End Use:
- Industrial manufacturing
- Carpentry
- Glass Manufacturing
- Paper Manufacturing
- Milling
- Brick Manufacturing
- Textile Manufacturing
- Agriculture
- Others
- Oil & Gas
- Automotive
- F&B Processing
- Chemicals
- Others
- Industrial manufacturing
- Industrial Ventilation Fan Market by Mounting:
- Wall-mounted Industrial Ventilation Fans
- Ceiling-mounted Industrial Ventilation Fans
- Industrial Ventilation Fan Market by Flow Rate:
- Below 100 CFM Industrial Ventilation Fans
- 100-250 CFM Industrial Ventilation Fans
- 250-500 CFM Industrial Ventilation Fans
- 500-750 CFM Industrial Ventilation Fans
- Above 750 CFM Industrial Ventilation Fans
- Industrial Ventilation Fan Market by Region:
- North America Industrial Ventilation Fan Market
- Latin America Industrial Ventilation Fan Market
- Europe Industrial Ventilation Fan Market
- East Asia Industrial Ventilation Fan Market
- South Asia & Oceania Industrial Ventilation Fan Market
- MEA Industrial Ventilation Fan Market
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the industrial ventilation fan market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (axial fans (propeller fans, tube axial fans, vane axial fans), centrifugal fans (forward inclined blade fans, radial blade fans, backward inclined blade fans)), mounting (wall-mounted, ceiling-mounted), end use (industrial manufacturing (carpentry, glass manufacturing, paper manufacturing, milling, brick manufacturing, textile manufacturing, agriculture, others), oil & gas, automotive, F&B processing, chemicals, others), and flow rate (below 100 CFM, 100-250 CFM, 250-500 CFM, 500-750 CFM, above 750 CFM), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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