Industrial Ventilation Fan Market

Industrial Ventilation Fan Market Outlook (2022-2032)

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.

Report Attributes	Details
Industrial Ventilation Fan Market Size (2021A)	US$ 1.05 Bn
Estimated Market Value (2022E)	US$ 1.1 Bn
Forecasted Market Value (2032F)	US$ 2.2 Bn
Global Market Growth Rate (2022-2032)	7% CAGR
Europe Market Share (2022)	~27.5%
Key Companies Profiled	Continental Fan Manufacturing Inc. Ebara Corporation Elta Fans Ferrari Ventilatori Industriali S.p.A Formula Air Helios Ventilation Maico Gulf Mitsubishi Electric Corporation MZ Aspiratori S.p.A New York Blower Company  Panasonic Corporation Volution Group Plc.

As per the latest analysis by Fact.MR, industrial ventilation fan market share is close to 35% of the global ventilation fan market size. As industrial ventilation fans have a wide spectrum of use cases, they are significantly installed across the world owing to their unmatchable attributes.

Industrial Ventilation Fan Revenue Analysis (2017-2021) Vs Market Forecast Outlook (2022-2032)

The global industrial ventilation fan market registered growth of around 0.7% during the historical period (2017-2021). Low demand was experienced due to the COVID-19 crisis. It hampered the overall performance of the market during the past half-decade. A decline of 6.7% was registered in 2020, which drastically affected market expansion.

Fact.MR, a market research and competitive intelligence provider, estimates 7% CAGR for the market over the assessment period. Growing demand for industrial ventilation fans in end-use verticals is poised to provide a valuation of US$ 2.2 Bn by 2032

Demand of wall-mounted industrial ventilation fans is likely to grow 2.1X by 2032, while demand for ceiling-mounted ventilation fans is set to witness increase at 6.6% CAGR over the forecast period.

China and Germany account for high demand for industrial ventilation fans. East Asia is likely to portray a growth of 8% CAGR, whereas the European region is estimated to exhibit a growth of 7.1% CAGR over the forecast period.

Which Key Market Trends are Driving Demand for Industrial Ventilation Fans?

“Profit Margins Changing the Game for Industrial Ventilation Fan Manufacturers”

Opportunity for high profits in any industry attracts new manufacturers towards it. The market for industrial ventilation fans represents huge profits, and many new industrial fan manufacturers are likely to enter the market.

New entrants are approaching region-specific markets. Entering region-specific markets such as those of emerging economies represents significant opportunities. In addition to this, producers are addressing local market needs in order to cater the dynamic demand and garner a larger consumer base.

“Unmatchable Attributes of Industrial Ventilation Fans Driving Their Demand”

Maintenance of a fresh supply of air in an operation space is vital for a healthy work environment. The level of contamination in the air is capped by government authorities and regulated, by which companies are enforced to take sustainable steps for addressing these issues.

Industries such as carpentry, glass manufacturing, paper manufacturing, milling, and brick manufacturing are exposed to higher air contamination. As such, these industrial manufacturing facilities are the prime customer base for industrial ventilation fans, leading the unit sales to reach new heights over the assessment period.

“Localization of Manufacturing Facilities across Established Countries”

The U.S.-China trade war didn’t bring up major economic wins for either country, but it has altered the global trade market scenario in a damaging way by rattling the supply chain. Earlier, most manufacturing used to take place in China, but the trade war resulted in a decent shift in the psychology of foreign manufacturers to be self-reliant. This resulted in the shifting of production plants to other emerging economies such as Vietnam, Thailand, and India.

Additionally, manufacturers shifting production back to their country of operation as an alternative to such fluctuations has resulted in some significant benefits, such as supporting local jobs and helping domestic companies compete effectively in the global market. Hence, localization of manufacturing facilities in the case of target product companies has helped fulfil demand in domestic markets.

Country-wise Insights

Why Does the U.S. Enjoy a Notable Share in the Industrial Ventilation Fan Market?

The U.S. industrial ventilation fan market is expected to account for a significant portion of the global share in the near future. The United States currently accounts for more than 88% market share in North America, and is expected to garner an absolute opportunity of US$ 235 Mn during the assessment period.

Higher industrial growth rate, developed production facilities, and government regulations and policies are factors enabling higher growth in the U.S. market. Manufacturers of industrial ventilation fans are channelizing their resources and export volumes in order to capture the lucrative U.S. market.      

Will Germany Be the Focal Point for Industrial Ventilation Fan Suppliers?

Due to rapid adoption and expanding infrastructure, Germany is likely to dominate the demand for industrial ventilation fans in Europe. Germany has increased its domestic production capacity to cater to customized demand. Increase in demand for industrial ventilation fans has been attributed to an increase in industrial spending.

Uptake in industrial manufacturing end use and increase in automotive production have led to higher demand for fans and blowers in country. The Germany industrial ventilation fan market is expected to create absolute $ opportunity of US$ 55 Mn in 2032 over 2022, expand at a CAGR of 5.9% during the assessment period.

Category-wise Insights

Which Application Will Lead to High Sales of Industrial Ventilation Fans?

Food & beverage processing has created ample opportunities for manufactures of industrial ventilation fans to increase their production volumes. Vane axial fans and tube axial fans are most attractive in terms of product adoption and scalability.

Food & beverage processing end use is likely to expand at 5.6% CAGR over the forecast period after capturing around 23% market share in 2021.

In addition, other applications of industrial ventilation fans such as in oil & gas industries and automotive are attributed to push market development of industrial ventilation fans in the near future.

Will Axial Ventilation Fans Bring Higher Margins for Suppliers?

A vending machine's internal cooling unit circulates cool air using axial fans to maintain a consistent temperature within the machine. Internal device cooling and fan selection are critical for the long-term operation of parts inside vending machines.

With advancements in technology, sales of axial fans have increased owing to their widespread used in vending machines. Vaneaxial industrial ventilation fans captured around 60% market share in 2021, and the segment is expected to surge at 8.1% CAGR through 2032.

However, centrifugal ventilation fan demand is likely witness an optimistic growth pattern over the decade.

Competitive Landscape

Prominent players in the industrial ventilation fan market are expanding their manufacturing facilities across the globe and finding various opportunities in emerging economies.

Tier-1 industrial ventilation fan manufacturing companies are expanding their operational bases across regions to capture a significant market share and tackle trade wars, minimize import-export costs, and employ cheaper labor.

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, Maico Gulf, 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, Ventinet B.V., and Volution Group Plc.

Fact.MR has provided detailed information about the price points of the top manufacturers of big industrial ventilation fans positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

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