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.
Fans and Blowers Industry Segmentation
The fans and blowers are used for cooling or heating applications in industries or for ventilation in commercial places like offices, restaurants, etc. These products are also sometimes used as air supply equipment for drying hands in commercial places like bakeries, pantries, etc.
The fans and blowers market is segmented by technology, deployment, and geography. By technology, the market is segmented into centrifugal and axial. By deployment, the market is segmented into industrial (power generation, oil and gas, construction, iron and steel, chemicals, mining, and other industries) and commercial. The report also covers the market size and forecasts for the fans and blowers market across the major regions. For each segment, market sizing and forecasts have been done based on revenue.
| By Technology | |
| Centrifugal | |
| Axial |
| By Deployment | |||||||||
| |||||||||
| Commercial |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East and Africa |
Fans And Blowers Market Size Summary
The fans and blowers market is poised for steady growth, driven by increasing industrialization and urbanization, particularly in developing regions. The resurgence of commercial spaces such as data centers and corporate offices, alongside the expansion of industrial sectors like chemicals, oil and gas, and steel manufacturing, is expected to bolster demand. Despite the initial setbacks caused by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. However, the shift towards renewable energy sources may pose a challenge, as renewable power plants require less infrastructure for fans and blowers. Nonetheless, the ongoing trend of rising building heights and urban congestion presents opportunities for growth in ventilating equipment.
Asia-Pacific is anticipated to dominate the market share, fueled by robust industrial and commercial developments in countries like China and India. The region's demand is further supported by ongoing and planned projects in oil and gas, petrochemicals, and power generation. Notable initiatives, such as the establishment of new steel plants and chemical facilities, underscore the region's growth trajectory. The market remains fragmented, with key players like Acme Engineering & Manufacturing Corp., Airmaster Fan Company Inc., and Continental Blower LLC actively expanding their operations to meet the increasing demand for industrial fans and blowers.
Fans And Blowers Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2028
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1.3 Recent Trends and Developments
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1.4 Market Dynamics
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1.4.1 Drivers
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1.4.2 Restraints
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1.5 Supply Chain Analysis
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1.6 Porter's Five Forces Analysis
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1.6.1 Bargaining Power of Suppliers
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1.6.2 Bargaining Power of Consumers
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1.6.3 Threat of New Entrants
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1.6.4 Threat of Substitute Products and Services
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1.6.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Technology
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2.1.1 Centrifugal
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2.1.2 Axial
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2.2 By Deployment
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2.2.1 Industrial
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2.2.1.1 Power Generation
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2.2.1.2 Oil and Gas
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2.2.1.3 Construction
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2.2.1.4 Iron and Steel
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2.2.1.5 Chemicals
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2.2.1.6 Mining
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2.2.1.7 Other Industries
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2.2.2 Commercial
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2.3 By Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle East and Africa
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Fans And Blowers Market Size 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.
