Industrial Fans Market Size, Share, Industry Analysis, Trends, Growth, Forecasts 2030

Industrial Fans Industry Prospective:

The global industrial fans market size was evaluated at $5700 million in 2022 and is slated to hit $8900 million by the end of 2030 with a CAGR of nearly 5.2% between 2023 and 2030.

Request Free Sample

Industrial Fans Market: Overview

Industrial fans are equipment whose key function is to offer and accommodate a large air or gas flow to various building components. This can be done by blade rotation by connecting to the shaft and hub and is driven by a turbine or motor. For the record, the rate of flow of these industrial fans ranges from about 200 cubic feet to 2,000,000 cubic feet per minute. Moreover, the constant air or gas flow from these industrial fans produces aeration, ventilation, air-cleaning, cooling, and combustion

Key Insights

• As per the analysis shared by our research analyst, the global industrial fans market is projected to expand annually at the annual growth rate of around 5.2% over the forecast timespan (2023-2030)
• In terms of revenue, the global industrial fans market size was evaluated at nearly $5700 million in 2022 and is expected to reach $8900 millionby 2030.
• The industrial fans market is anticipated to grow rapidly over the forecast timeline owing to a rise in pneumoconiosis as well as other lung ailments occurring as a result of excessive dust particles in an environment in factories that can adversely affect the health of the workers leading to product demand in factories.
• In terms of product type, the blower fans segment is slated to register the highest CAGR over the forecast period.
• Based on end-user, the iron & steel segment is predicted to lead the segmental growth in the forecast period.
• Region-wise, the European industrial fans industry is projected to register the fastest CAGR over the assessment timeline.

Request Free Sample

Industrial Fans Market: Growth Factors

Humungous demand for heavy ventilated fans to boost the global market trends over forecast timespan

Growing customer demand for the use of heavy ventilated fans as well as heavy machine cooling fans in factories will upsurge the growth of the industrial fans market across the globe. Large-scale use of the product in small-scale as well as large-scale firms will steer the global market earnings in the years ahead. Apart from this, a rise in pneumoconiosis as well as other lung ailments occurring as a result of excessive dust particles in an environment in factories can adversely affect the health of the workers. This, in turn, has led factory owners to purchase industrial fans to provide a clean and safe working environment for their workers, thereby driving global market trends.

A rise in the demand for industrial fans in the food & beverages sector will enhance the profitability of the global market. Escalating use of products in oil & gas, mining, cement, manufacturing, and chemical sectors will embellish the growth of the market globally.    

Industrial Fans Market: Restraints

High raw material costs can shrink the growth of the global industry to a certain extent in coming years

An increase in the costs of raw components as well as a massive surge in the import duties can impede the growth of the industrial fans industry in the forthcoming years.

Industrial Fans Market: Opportunities

Escalating requirement of conserving power has translated into huge demand for industrial fans globally

The growing need to reduce power usage is anticipated to open new growth avenues for the global industrial fans market in the upcoming years.

Industrial Fans Market: Challenges

Stringent government legislation regarding the manufacture & sale of products can obstruct the growth of the industry globally 

Strict government laws regarding the production, sale, and purchase of products along with strict laws in emerging economies related to obtaining of license for manufacturing the product can pose a big challenge to the growth of the industrial fans industry across the globe.

Industrial Fans Market: Segmentation

The global industrial fans market is sectored into product type, end-user, and region.                                    

In terms of product type, the industrial fans market across the globe is segregated into pedestal, fans, wall-mounted fans and blower fans segments. Furthermore, the blower fans segment, which acquired nearly 55% of the global market share in 2022, is projected to record the highest rate of annual growth in the forecasting years. Moreover, the segmental surge over the next eight years can be due to the escalating use of blower fans in various end-use sectors such as oil & gas, mining, power generation, construction, mining, chemicals, and iron & steel.

Based on the end-user, the industrial fans industry globally is sectored into power generation, oil & gas, construction, chemicals, iron & steel, mining, and other segments. Additionally, the iron & steel segment, which garnered a key share in the global industry revenue in 2022, is anticipated to lead the segmental expansion in the years ahead. The growth of the segment over the period from 2023 to 2030 can be due to the rise in the use of industrial fans in the iron & steel segment.  

Industrial Fans Market: Report Scope

Industrial Fans Market: Regional Insights

Asia-Pacific is predicted to establish a strong foothold in the global industrial fans market in the coming decade

Asia-Pacific, which accounted for nearly 33.8% of the global industrial fans market earnings in 2022, will be the leading region in the next eight years. Moreover, the market progression in Asia-Pacific over the forecast timeline can be attributed to supportive government policies along with easy availability of raw components as well as access to cost-effective workforce in countries such as India, Vietnam, Bangladesh, Thailand, Indonesia, and China. A large presence of behemoths in countries such as Japan, Taiwan, South Korea, and China will further proliferate the size of the market in the region.

European industrial fans industry is set to record the highest CAGR in the forecast timeline. The growth of the industry in the continent over the forecast timeframe can be due to the thriving healthcare sector in the countries of Europe. Moreover, the rise in the number of patients admitted to hospitals requires more industrial fans to be installed in hospitals & clinics, thereby enlarging the scope of growth of the industry in Europe.

Key Developments

• In the first half of 2022, Ferrari Industrial Fans, a key UK-based firm manufacturing industrial fans for cooling & heating purposes, re-introduced industrial fans in the UK with a new fast product line that is designed for effective transportation of light or clean dusty air. The move is likely to add to the profits of the company along with boosting the growth of the industrial fans market in the UK.
• In November 2022, Rite-Hite, a U.S. firm manufacturing industrial goods, launched new industrial fans referred to as CoolMan® Zone Fans. For the record, these fans enhance worker comfort, minimize power costs, and maintain the temperature of the factory (manufacturing) units.
• In September 2023, Mainstream, a key manufacturer of air handling unit fans & coils, launched IntelliCUBE Axial Fans with a view to strengthening its position in the HVAC sector.

Industrial Fans Market: Competitive Space

The global industrial fans market profiles key players such as:

• Airmaster Fans
• EPOCH FANS
• Berner International
• WujiangDeshengxin Purification Equipment Company Limited
• Pheonix Manufacturing
• National Fan Company
• Triangle Engineering
• Hunter Industrial
• Howden American Fan Company
• J&D Manufacturing
• SPARTAK JSC
• Twin City Fan
• ANJOS
• Uvents Ventilation Systems
• Ferrari Industrial Fans

The global industrial fans market is segmented as follows:

By Product Type

• Wall-Mounted Fans
• Pedestal Fans
• Blower Fans

By End-User

• Power Generation
• Oil & Gas
• Construction
• Chemicals
• Iron & Steel
• Mining
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa