Growing HVAC Industry Is Likely Accelerate the Installation of Industrial Ventilation Fan across Industrial Manufacturing and Automotive Companies

Rockville, Jan. 04, 2023 (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.

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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.

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.
  

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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.

Competitive Landscape

All the industry leader are making their strategy to stand out from other competitors in the ventilation fan market. The brands like 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 and other leading players have started manufacturing the energy & cost-efficient ventilation fan to meet the consumer preference.

One of the prominent factors in market survival is innovation. Companies develop and implement modern technology solutions at every stage of production, allowing them to manufacture products that meet customers' expectations and needs to the greatest extent possible. Firms believe in innovations that include integrated application of professional knowledge, global experience, and modern technologies in the manufacturing of industrial ventilation fans.

Organizations update and improve their product lines on an annual basis based on current trends and customer feedback. Commitment to customer demands and implementation of innovations enabled the market leader to take the lead in the global market of industrial ventilation fans and to directly influence the formation of market trends.

Key Companies Profiled

• 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

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Segmentation of Ventilation Fan Industry Research

• Ventilation Fan Market by Type:
  • Axial
    • Propeller Fans
    • Tube Axial Fans
    • Vane Axial Fans
  • Centrifugal
    • Forward-Inclineded Blade Fans
    • Radial Blade Fan
    • Backward Inclined Blade Fan
• Ventilation Fan Market by Use Case:
  • Industrial Manufacturing
    • Carpentry
    • Glass Manufacturing
    • Paper Manufacturing
    • Milling
    • Brick Manufacturing
    • Textile Manufacturing
    • Agriculture
    • Others
  • Oil & Gas
  • Automotive
  • F&B Processing
  • Chemical
  • Commercial
  • Residential
  • Others
• Ventilation Fan Market by Mounting :
  • Wall Mounted
  • Ceiling Mounted
• Ventilation Fan Market by Flow Rate :
  • Below 100 CFM
  • 100 - 250 CFM
  • 250 - 500 CFM
  • 500 - 750 CFM
  • Above 750 CFM
• Ventilation Fan Market by Region :
  • North Americas
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

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).

Check out more related studies published by Fact.MR Research:

Energy Recovery Ventilator (ERV) Market - Energy recovery ventilators have marked a significant demand after the spread of COVID-19. People have become more aware about the ventilation systems. Poor ventilation can lead to shortness of breath, tiredness and severe headaches. To prevent the build-up of Co2 and depletion of oxygen, the Energy Recovery Ventilator is used. Residential and commercial buildings require excellent ventilation. The rising demand for fresh air and correct ventilation has brought a growth in the ERV market.

Industrial Ventilation Fan Market - Global industrial ventilation fan market revenue totalled US$ 1.05 Bn in 2021. The global market is expected to reach a valuation of US$ 2.2 Bn by 2032, rising at a CAGR of 7%. Demand for axial fans is set to accelerate with the top 5 providers holding 52.2% market share by 2032.

Solar Ventilation Systems Market - The global solar ventilation systems market has reached a valuation of US$ 1.31 billion in 2022. Worldwide demand for solar ventilation systems is projected to increase at a CAGR of 4.6% and attain a market valuation of US$ 2.05 billion by 2032. Increased housing development investments are anticipated to drive demand for solar ventilation systems in the residential sector across the world.

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