The global fans & blowers market size is expanding to reach US$ 11.2 billion by 2030, growth is estimated to expand at a CAGR of 5.1% over the forecast period 2021 to 2030.
The growing commercial and industrial sector across the globe to have a noteworthy impact on the overall fans & blowers market. Advancements in product design and the introduction of smart ceiling fans are anticipated to propel the sales of fans & blowers in the Asia Pacific region. The introduction of fans & blowers with increased efficiency, easy handling, self-cleaning, and reduced noise is likely to drive the market during the forecast period. Furthermore, rise in population, upgrade of infrastructure, developments in the residential sector, and investment in commercial space is expected to fuel the fans & blowers market during the forecast period.
Key Driver of Global Market
Globalization has led to an increase in the number of companies, industries, and commercial spaces. Rapid industrialization and urbanization have resulted in uplifting various economies around the world, which has led to the growth of the commercial sector. Fans & blowers are widely used in industrial and commercial applications such as material handling, ventilation, refrigeration, boilers, cooling applications, and dust collection. The rising number of end-use industries is a major driver for the fans & blowers market.
Fans & blowers can be used with existing HVAC systems to maintain a desired temperature and helps in reducing energy cost. Usage of data-intensive applications and cloud platforms was already on the rise and has surged during the COVID-19 pandemic. Development of data centers is increasing in many non-traditional locations, which is expected to fuel the fans & blowers market during the forecast period.
Advancements in product design and availability of a wide range of products are expected to drive the fans & blowers market during the forecast period. In terms of ceiling fans, the introduction of smart ceiling fans, which can be remotely controlled and helps in bringing down electricity cost is gaining popularity and attracting more consumers. The introduction of fans & blowers with increased efficiency, ease of handling, self-cleaning, and reduced noise is projected to fuel the growth of the fans & blowers market during the forecast period.
The next decade is likely to be significant due to rise in population, upgrade of infrastructure, developments in the residential sector, and investments in telecommunication. The Renewable Heat Incentive scheme in Europe coupled with the 2019 Zero Carbon Buildings initiative is expected to augment the fans & blowers market during the forecast period.
Rising demand for power consumption, owing to increased population is driving the incorporation of power generation units such as nuclear power plants, hydro power plants, coal, and thermal power plants. These power plants require industrial fans and blowers to supply air for combustion, to supply fuel to burners, and circulate gases for better heat transfer. Additionally, solar and wind energy power plants require industrial fans to cool down inverters and generators. Wind and solar energy is anticipated to boost the demand for industrial fans and blowers over the next couple of years.
Many consumers prefer products that are locally made and hence, collaboration with regional manufacturers or penetrating into regional markets is likely to be an added benefit during the forecast period. Streamlined supply chain and high penetration in regional markets are anticipated to open doors for business growth in the fans & blowers market during the forecast period.
Increasing Popularity of High Efficiency Products
The latest trend observed is increasing use of fans & blowers across various industrial applications, which has a positive impact on the growth of the market. Ceiling fans, portable coolers, and exhaust fans are products, which are popular in the commercial segment. Consumers are now concerned about the harmful impact of different products on the environment and hence, there is increasing demand for green technology. Similarly, consumers are showing keen interest in renewable energy resources; thus, the demand for fans & blowers in biomass and other production processes is expected to increase during the forecast period. Some of the demands from consumers include improved efficiency & size, improvement in motor, more usage of EC motors, better fan pitch and variable speed option, and development of products, which effectively save energy. Consumers are looking for better products and services from fans & blowers manufacturers.
Growing demand for fans & blowers across the globe in sync with government regulations, and need for eco-friendly products is boosting new product innovation in the global fans & blowers market. Companies are heavily investing in R&D for green technology. Many companies are focusing on expanding their geographical reach, technological advancement, and mergers & acquisitions in order to ensure high product visibility, consumer recall, and also to expand their consumer base and increase share of the global fans & blowers market. Manufacturers are catering to consumer needs and developing smart products besides trying to improve their carbon footprint. A wide range of products is offered by manufacturers to suit consumer needs. As consuming power is increasing, manufacturers offer transparent information about how the products and offers are differentiated to meet customer needs. Efforts are being made to connect with consumers to understand their needs better.
Economic Slowdown to Hamper Growth of Fans & Blowers Market
Currently, the outbreak of coronavirus has resulted in economic slowdown in almost all countries and lockdowns in many countries, thus affecting consumer spending power. Lockdowns have resulted in shutdown of restaurants, offices, factories, production plants, gyms, and construction activities besides social places. The drop in production activities across various industries globally is expected to restrain the global fans & blowers market. Another factor that might act as a restraint for the market is the growing geo political tension, which affects the supply chain cycle and increases trade barriers. Massive slowing of the supply chain, falling business confidence, stock market volatility, growing panic among the population, and uncertainty about the future are projected to restrain market growth during the forecast period.
In terms of type, the fans & blowers market has been segmented into standard ceiling fans, HVLS ceiling fans, caged direction, ceiling columns destratification fans, portable evaporative coolers, air supply fans, and exhaust fans. During the forecast period, the market is anticipated to be dominated by the standard ceiling fans segment. In the report, based on application, the fans & blowers market has been segmented into commercial, industrial, and others.
Based on distribution channel, the fans & blowers market has been segmented into online and offline. The offline segment is anticipated to expand at a significant growth rate during the forecast period. Asia Pacific has seen a surge in adoption of e-Commerce among consumers, which in turn has increased online retail sales of fans & blowers.
Geographically, Asia Pacific led the fans & blowers market in 2020 and the region is expected to retain its dominance during the forecast period. China and India are considered the major markets for fans & blowers in the Asia Pacific region, although North America and Europe have been dominating the fans & blowers market. Apart from Asia Pacific, African provinces also significantly contribute to the growth of the global fans & blowers market.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global fans and blowers market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
Key players operating in the global fans & blowers market include ACME Engineering & Manufacturing Corporation, Air Control Industries, Inc., Airmaster Fan, Alfa Fans, Gardner Denver, Inc., Continental Blower, LLC, and Air King America, LLC.
By Distribution Channel
This report focuses on fans and blowers market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall fans and blowers market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global fans and blowers market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global fans and blowers market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the fans and blowers market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of fans and blowers are as follows:
The research methodology adopted by analysts for compiling the global fans and blowers market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global fans and blowers market.
The study objectives of this report are:
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