The Global Market for Industrial and Commercial Fans and Blowers is Projected to Exceed US$10.4 Billion by 2024

Revival of the Industrial Sector Drives the Global Industrial and Commercial Fans and Blowers Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Industrial and Commercial Fans and Blowers market. The global market for Industrial and Commercial Fans and Blowers is projected to exceed US$10.4 billion by 2024, driven by the revival of the industrial and commodity sectors, as well as the continued growth of alternative energy.

Industries and commercial facilities typically require low-pressure and high volume air movement without which most the activity would suffocate thus calling for use of commercial and industrial grade fans and blowers. Fans and blowers are typically rotary bladed machines that use an impeller, fit to a shaft and bearings, to provide a continuous flow of air passing through it.

Industrial and Commercial Fans and Blowers range encompass variety of products including axial fans, mixed-flow/centrifugal in-line fans, centrifugal fans, powered roof/wall ventilators, air curtains, and blowers among others that are typically used in industrial or commercial units for improving air-circulation, ensuring proper ventilation, and in industrial production/processes. While commercial HVAC applications of fans and blowers include their use in boilers, condensers, dedicated exhaust, dedicated fresh air systems and other HVAC systems used in office buildings, schools, hotels, hospital buildings, shopping centers, malls etc., Industrial Applications of fans and blowers include their use in industrial building HVAC applications and in industrial processes across industry segments such as oil & gas, mining, metal processing, chemical & petrochemical, power generation, food & beverages, medical & pharmaceuticals, pulp & paper, etc.

Like all capital goods, the state of the industry is tied to the general economy but is cyclical in nature. Factors such as aging equipment, environmental concerns, and replacement sales play an important role in shaping the demand. The industry also draws growth from the release of pent up demand after recession and economy slowdown, as customers tend to hold on to their equipment longer than normal, eventually requiring to upgrade their fleets. Also impacting growth are new government regulations and availability of financial incentives for certain type of equipment. Increasing pressure from emissions control regulations and subsidies and tax incentives are expected to encourage customers upgrade their equipment in the near term.

The oil & gas industry represents one of the major markets for Industrial Fans and Blowers. Owing to the volatility in the industry, the market witnessed headwinds in oil & gas applications. However, prices stabilized in 2017, and have been steadily increasing in the recent past. With crude prices touching the US$70 per barrel mark, the industry is experiencing a recovery in capital expenditure, leading to revival of demand for fans and blowers. In addition, prices of commodities such as steel and copper are also witnessing positive trends, portending opportunities in the refining as well as raw material processing sectors.

As stated by the new market research report on Industrial and Commercial Fans and Blowers, the United States represents the largest market worldwide. Asia-Pacific is forecast to witness the fastest growth with a CAGR of 5.9% over the analysis period. The sheer size and growth of the industrial sector in the Asia-Pacific region, especially China as well as the focus on manufacturing growth in India provide ample opportunities for the Industrial and Commercial Fans and Blowers market. In addition, steadily growing oil and commodity prices are portending a revival in the economic fortunes of Latin American, Middle Eastern, and African countries, portending opportunities for the Industrial and Commercial Fans and Blowers market. Developed economies are expected to provide opportunities in the replacement market arising from regulations on energy efficiency, as well as upturn in economic activity, especially in Europe.

Major players in the market include Acme Engineering & Manufacturing Corporation, Air System Components Inc., Airmaster Fan Company Inc., Continental Blower LLC, CECO Environmental, DongKun Industrial Co., Ltd., ebm-papst Group, FläktGroup, Gardner Denver Inc., Greenheck Fan Corporation, Howden Group Ltd., Loren Cook Company, Robinson Fans Inc, The New York Blower Company and Tuthill Corporation, among others.

The research report titled "Industrial and Commercial Fans and Blowers: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, innovations and launches, and strategic industry activities of major companies worldwide. The single segment report provides market estimates and projections in US$ for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
To connect with us, visit our LinkedIn page.


Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

Comments

Post a Comment

Popular posts from this blog

The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

Rise of Surfing as a Lifestyle Sport Among all Age Groups Drives the Global Surfing Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Surfing market. The global market for Surfing is projected to reach US$9.5 billion by 2022 , driven by the growing interest in surfing both as a leisure and sporting activity, increased accessibility to surfing through surf parks and surf pools and technology innovations focused on developing sophisticated surf-wear and surf-gear.                               Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry continues to evolve, driven by sustained efforts of s...
Read more

The Global Market for Private Tutoring Services is Forecast to Reach US$227 Billion by 2022

Intense Competition among Students and the Growing Need to Achieve Academic Excellence Drive the Global Private Tutoring Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Private Tutoring market. The global market for Private Tutoring Services is forecast to reach US$227 billion by 2022 , driven by the need to keep pace with classroom teaching, improve overall competency and enhance knowledge and skill level. Education is considered the social ladder to achieve success in personal and professional life. Higher education is associated with increased opportunities in the labor market, high remunerations, and improved social standing. People are therefore investing heavily in children’s education, including private tutoring or private supplementary tutoring which is emerging as a major phenomenon in the global education system...
Read more
Image
The global market for Material Handling Equipment is projected to reach US$190.3 billion by 2025, driven by the strong emphasis shed on production and operational efficiency and worker safety. The concept of “last mile” is widely popularized in supply chain management and transportation planning for its ability to increase customer satisfaction and profitability. Automation, optimization and delivery route planning are therefore vital strategies adopted by companies to improve their last mile performance. Of equal importance are the “first mile” operations involving indoor material handling on the plant floor. Raw material being the primary and most importance element in manufacturing needs to move through multiple stages of production and final packaging in a smooth and seamless manner to prevent logistical bottlenecks in production. Timely handling of materials is important to ensure that right materials in right quantities are delivered to the right locations at the right ti...
Read more