Overview and Scope
Fans and blowers are machines that provide ventilation, the flow of air (or gas) required for cooling, exhausting, and conveying, and are used to overcome the airflow resistance caused by components such as ducts and dampers.
Sizing and Forecast
The fans and blowers market size has grown strongly in recent years. It will grow from $6.33 billion in 2023 to $6.78 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to industrialization and manufacturing growth, construction and infrastructure development, energy efficiency requirements, regulatory standards for air quality, HVAC system upgrades.
The fans and blowers market size is expected to see strong growth in the next few years. It will grow to $8.8 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to green building initiatives, rise in data center construction, focus on indoor air quality, advanced materials and manufacturing processes, global expansion in manufacturing. Major trends in the forecast period include digitalization and smart technologies, technological advancements in design, rise in energy-efficient designs, expansion in industrial Internet of Things (IIOT) applications, increased focus on noise reduction.
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Segmentation & Regional Insights
The fans and blowers market covered in this report is segmented –
1) By Type: Centrifugal Fans And Blowers, Axial Fans And Blowers, Other Types
2) By Distribution Channel: Online, Offline
2) By Application: Industrial, Commercial, Other Applications
Asia-Pacific was the largest region in the fans and blowers market in 2023. The regions covered in the fans and blowers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing construction sector is expected to propel the growth of the fans and blowers market going forward. The construction sector refers to the sector of industry and trade that deals with creating, maintaining, and repairing infrastructures. Fans and blowers are used in the construction sector to provide air for ventilation and industrial process requirements. For instance, in January 2022, according to Global Construction Perspectives and Oxford Economics, a UK-based leader in global economic forecasting and econometric analysis, by 2030, the global construction production is expected to increase by 85% to $15.5 trillion, with China, the United States, and India taking the lead and contributing 57% of the increase. Over the next 15 years, the US construction market is going to expand more quickly than China's. Therefore, the growing construction sector is driving the growth of the fans and blowers market.
Key Industry Players
Major companies operating in the fans and blowers market report are ABB ltd., Johnson Controls International plc, Nidec Corporation, Systemair AB, Patterson Companies Inc., Enovis, Munters Corp., Airmaster Fan Company Inc., Loren Cook Company, Genuit Group, CG Power and Industrial Solutions Limited, Kaeser Compressors Inc., Air System Components Inc., Industrial Solutions Limited, Twin City Fan Companies Ltd., Garden Denver Inc., Acme Engineering and Manufacturing Corporation, Zhejiang Shangfeng Fan/motor Co. Ltd., Flakt Woods Group SA, Aerzener Maschinenfabrik GmbH, Cincinnati Fan and Ventilator Company Inc., Soler & Palau Sistemas de Ventilación S.L.U., Robinson Fans Inc., Pollrich GmbH, Vortice Elettrosociali S.p.A., Ventmeca Fans Inc., Continental Blower LLC, Greenheck Fan Corporation, Nanfang Ventilator Co. Ltd., DongKun Industrial Co. Ltd.
The fans and blowers market report table of contents includes:
1. Executive Summary
2. Fans and Blowers Market Characteristics
3. Fans and Blowers Market Trends And Strategies
4. Fans and Blowers Market - Macro Economic Scenario
5. Global Fans and Blowers Market Size and Growth
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32. Global Fans and Blowers Market Competitive Benchmarking
33. Global Fans and Blowers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fans and Blowers Market
35. Fans and Blowers Market Future Outlook and Potential Analysis
36. Appendix
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