Product Code: 47394
The global fans & blowers market is expected to grow at a CAGR of more than 3.3% during 2020-2025. Increasing demand for cooling systems from data centers is among the major drivers of the fans and blowers market. The increasing demand for data centers is expected to outpace the supply, particularly in developing countries. Hence, the data centers, existing and new, are expected to run at higher loads, which, in turn, is expected to drive the demand for sophisticated cooling systems to maintain the temperature in these facilities. Renewable power plants require very limited infrastructure for fans and blowers. During the forecast period, the average power generation cost of solar PV and wind power is expected to stay below the average power generation cost of conventional power plants. Hence, the share of the renewable power plants in the power generation mix is expected to grow at higher speed, which, in turn, is expected to restrain the fans and blowers demand.
- Under the industrial deployment, the power generation sector has dominated the fans & blowers market in 2018, owing to the increasing number of conventional power plants across the globe.
- With increasing urbanization and a growing population, the average height of buildings and the congestion has been increasing. With the trend expected to continue during the forecast period, the demand for ventilating equipment, to make up for the unavailability of proper ventilation, is expected to increase, providing an opportunity for the growth of the market studied.
- Asia-Pacific has dominated the fans & blowers market, with the majority of the demand coming from China, India, Japan, and South Korea.
Key Market Trends
Power Generation Sector to Dominate the Market
- Fans and blowers are primarily used in the power industry for cooling and exhaustion purpose, aeration in the power plant, air pollution control, to maintain the stable flow of the air during power generation process and heat recovery process, and to maintain required temperature and pressure.
- Fuel cells used in standby power plants also require complex fan components. The fans and blowers are critical components in power generation plants for maintaining operational standards, improving the process efficiencies, and controlling dust particles in the air.
- Globally, the demand for electricity is growing at a rapid rate, on account of surge in population and industrial expansion. Apart from that, the increasing disposable income in the developing countries has led to a rise in per capita power consumption that is likely to create a huge demand for expansion of power infrastructure in the near future.
- Moreover, stringent international and government regulations, such as the Clean Air Act (CAA) and the Mercury and Air Toxics Standards, enforce the installation of systems that monitor and curb emissions to bring them to a safer level, in power generation companies using fossil fuels, which, in turn, is driving the demand for fans and blowers for air pollution control in the power industry.
Asia-Pacific to Dominate the Market
- Asia-Pacific has dominated the fans & blowers market in 2018 and is expected to continue its dominance in the coming years as well.
- in 2018, China's refinery capacity came to 16.8 Mb/d. Hence, the refining industry in China ranks among one of the top industries in the world. As the oil demand growth shifted from fuel-driven to petrochemical feedstock-driven, the country is transforming and upgrading the refinery industry.
- In March 2019, the Wood company was awarded a new contract from Sinochem Quanzhou Petrochemical for its 1MTA ethylene and refinery expansion project in China.
- Also, in 2018, ExxonMobil and SABIC announced that they are planning to build wholly-owned petrochemical complexes in coastal southern China. The project scheduled for the start-up in 2023.
- Hence, with the expansion of the refinery and petrochemical business and the upcoming coal-fired plant, the country is expected to witness an increase in the demand for fans and blowers, during the forecast period.
- India has one of the largest chemical and petrochemical industries in the world. The agricultural and transportation sectors are some of the major consumers of these industries in the country. Additionally, in 2018, the coal consumption rate of India registered a growth rate of 8.7%, which indicated that the country is still highly dependent on coal for energy generation, which is expected to supplement the demand for fans and blowers in the country.
- Similarly, countries such as Japan and South Korea has plans to expand their manufacturing industry and power generation sector. This, in turn, is expected to drive the demand for fans & blowers during the forecast period.
The fans & blowers market is fragmented. Some of the key players in this market include Acme Engineering & Manufacturing Corp, Continental Blower LLC, Flakt Woods Group SA, Gardner Denver Inc., and Howden Group Ltd.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Market Dynamics
- 4.4.1 Drivers
- 4.4.2 Restraints
- 4.5 Supply Chain Analysis
- 4.6 Porter's Five Forces Analysis
- 4.6.1 Bargaining Power of Suppliers
- 4.6.2 Bargaining Power of Consumers
- 4.6.3 Threat of New Entrants
- 4.6.4 Threat of Substitutes Products and Services
- 4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Technology
- 5.1.1 Centrifugal
- 5.1.2 Axial
- 5.2 Deployment
- 5.2.1 Industrial
- 126.96.36.199 Power Generation
- 188.8.131.52 Oil & Gas
- 184.108.40.206 Construction
- 220.127.116.11 Iron & Steel
- 18.104.22.168 Chemicals
- 22.214.171.124 Mining
- 126.96.36.199 Others
- 5.2.2 Commercial
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 South America
- 5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 Acme Engineering & Manufacturing Corp
- 6.3.2 Airmaster Fan Company Inc.
- 6.3.3 Continental Blower LLC
- 6.3.4 CG Power And Industrial Solutions Limited
- 6.3.5 DongKun Industrial Co. Ltd
- 6.3.6 Flakt Woods Group SA
- 6.3.7 Gardner Denver Inc.
- 6.3.8 Greenheck Fan Corp.
- 6.3.9 Howden Group Ltd
- 6.3.10 Loren Cook Company
- 6.3.11 Pollrich DLK
7 MARKET OPPORTUNITIES AND FUTURE TRENDS