(MENAFN- Ameliorate Digital Consultancy)
Over the forecast period (2022-2032), the industrial ventilation fan market is anticipated to grow at a CAGR of 7% by value.
Around 45% of industrial infrastructure that uses ventilation fans is older than ten years old globally. The proportion of new infrastructure to existing infrastructure is very low in places like Europe and the United States. Companies have prioritised remodelling production facilities in these industrial clusters and have also invested in non-core machinery like ventilation fans. Spending on non-core industrial equipment has risen by an average of 14.7% in Western European nations, with some of this increase being diverted to spending on ventilation fans.
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Important market players seek certifications from numergroups and organisations to prove that their product is dependable, sustainable, and long-lasting. Additionally, the localization of industrial facilities in developing nations has adjusted domestic market demand. Market participants are focusing their efforts to increase their market presence across regional marketplaces.
Industrial ventilation fans have undergone extensive research & development and continual product development. Demand is being fueled by changes in design, features, usefulness, efficiency, etc. According to Fact.MR's most recent data, the industrial ventilation fan market represents close to 35% of the overall ventilation fan industry.
Key Takeaways from Market Study
· At the end of 2032, the industrial ventilation fan market is anticipated to be worth US$ 2.2 million.
· The demand for axial fans and centrifugal fans, according to product type, is anticipated to grow at a CAGR of 7.6% during the forecast period.
· Wall-mounted and ceiling-mounted fans are expected to have increases in demand at CAGRs of 7.9% and 6.6%, respectively, according to mounting type analysis.
· According on flow rate segmentation, the sub 100 CFM category is anticipated to grow at a CAGR of 8.6%.
· In absolute terms, the East Asia region is predicted to generate a US$ 225 million opportunity in 2032 over 2022.
Winning Strategy
Industrial ventilation fan producers have expensive running expenses. In this industry, the costs of the resources needed to maintain their existence are very expensive. If new competitors operate by keeping their operational costs low from the outset of their businesses, they stand to earn significantly.
Existing manufacturers can reduce their costs from three different sources: fixed costs, variable costs, and semi-variable costs. Their chance to increase profitability will come from reduced operational costs.
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, MaGulf, 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, VentB.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
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 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
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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