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The primary purpose of industrial fans is to blow cold air and drive hot air out of the environment. There is a wide range of uses for industrial fans, from cooling large industrial spaces to providing cooling for technical assembly operations. The two primary types of industrial fans are axial and centrifugal. A centrifugal fan is similar to a blower, an enclosed unit that functions like a pump that pulls air in using a rapidly rotating impeller and then pushes it out at a 90° angle. An axial fan pulls and blows air parallel to its axis, causing the air to transfer axially outward. Motor, rotor shaft, and blades or impellers are fundamental components of an industrial fan assembly. Industrial fans are highly efficient and heavy-duty air flow devices that can withstand stringent environments and operate longer to provide constant airflow and pressure. Every industry requires airflow system to ensure a safe working environment, propels the adoption of industrial fans amongst the end user.
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The food & beverages industry in Europe is one of the largest manufacturing sectors with respect to jobs and value addition. The region is also home to several local and international food brands, including Ferrero Group, FrieslandCampina, JBS, Planted, Brewdog, Huel, Kraft, Mars, Nestle, and Unilever. These brands have increased their production capabilities through the expansion of manufacturing plants and the adoption of automated manufacturing technologies over the years. Thus, the increase in the food & beverage manufacturing plants across the region is contributing to the growth of the Europe industrial fans market. The major companies operating in the Europe industrial fans market include Witt & Sohn AG, Johnson Controls International Plc, FlaktGroup Holding GmbH, Systemair AB, Savio SRL, and Wilkinson Dynamic Balancing Ltd. These companies are focused on new product development and geographic expansion, which is further expected to contribute to the Europe industrial fans market growth. For instance, in May 2019, POLLRICH GmbH acquired trademark rights and the industrial fan program of Rußwurm Ventilatoren GmbH.
Industries such as automotive, food & beverages, oil & gas, and mining are constantly growing across APAC owing to a rise in investment by both regional and international industrial fans market players operating in the respective industries. Countries such as Vietnam, Thailand, Singapore, and Malaysia are experiencing a rise in investment by global players to set up their industrial plants. A few of them are mentioned below:
The rise in industrial plants across APAC countries is expected to increase the demand for industrial fans, thereby contributing to the growth of the APAC industrial fans market analysis.
The industrial fans market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa, and South America. In 2022, The APAC industrial fan market accounted for the largest market share, and it is also expected to grow at the highest CAGR over the forecast period. The increasing investment by international brands to open their industrial plants across APAC countries such as India, Vietnam, Thailand, and China are further contributing to the rise in demand for industrial fans. For instance, in September 2021, BorgWarner announced the launch of its new variable cam timing (VCT) manufacturing plant in India. Similarly, in November 2022, Coretronic announced the launch of a new electronic plant in Vietnam. The plant is expected to be operational by the end of 2023. These factors are influencing the demand for industrial fans across the region, which is also expected to contribute to the APAC industrial fan market growth over the forecast period.
Key Findings of Market Study:
The major stakeholders in the industrial fan market ecosystem include raw material/component providers, industrial fan manufacturers, and end-users. The raw material/component providers manufacture and supply components such as inlet cones, impellers, fan casing, inspection doors, motor pedestals, cooling wheels, and unitary base, which assists in the production of industrial fans. Any impact on the component manufacturers directly affects the global industrial fan production. The industrial fan market players are the companies that manufacture complete industrial fans and supply the same to the end-user. Witt & Sohn AG, Airmaster Fan Co, Johnson Controls Inc, Savio S.r.l., FläktGroup, and Greenheck Fan Corporation are a few players operating in the market. The end-users are the final stakeholders of the industrial fans market analysis. Industries such as chemical & petrochemicals, healthcare, automotive, food & beverage, and oil & gas are the major end users of industrial fans. The increasing production of automotive, healthcare devices, and oil & gas is increasing the demand for industrial fans, which is contributing to the growth of the industrial fans market.
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The onset of the COVID-19 pandemic has adversely impacted the growth of the industrial fans market. The sudden spread of SARS-CoV-2 resulted in the temporary shutdown of all economic activities, thereby leading to a decline in the demand for industrial fans across the end-use industries. This, in turn, impacted the business of other stakeholders, such as component providers and industrial fan manufacturers. The disruption of the supply chain across the globe also hampered the growth of the industrial fan market.
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