Market Trends of Fans And Blowers Industry
Industrial Segment Expected to Dominate the Market
- Fans and blowers are used in various industries, like chemicals, oil and gas, steel plants, food manufacturing, etc., to maintain indoor air quality and a dust-free environment for people to work in. The growing trend of industrialization in many countries, with new factories, power plants, and other manufacturing sectors, is expected to drive the market's growth
- The most air-equipment-consuming industries are iron and steel plants, chemical plants, fuel-based power plants, etc., which have seen a proliferation in recent years. For example, in August 2022, the government of India planned to build six steel plants in Odisha. The investors for the project include Tata Steel, ArcelorMittal, Nippon Steel, and the Adani Group. The chemical industry is advancing in the current scenario, particularly in developing countries.
- For example, in April 2022, INEOS Nitriles planned to establish a chemical plant in Koln, Germany, to produce acetonitrile. The French chemical companies tabled new plans for setting up new chemical parks and clusters in the country.
- Major player in the market is also investing in the expansion of operations to cater the needs of industrial fans and blowers. For instance, in April 2023, Howden announced that they plas to set up a branch in Brazil to expand its Latin American presence. Customers have 24-hour access to the service center, which provides hardware procurement, aftermarket service support, and hardware specialized assistance for product range of industrial fans and blowers.
- Due to such developments, the industrial sector is anticipated to overshadow other deployment segments during the forecast period.
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Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to have the largest market share in the near future due to the high demand for such products from countries like China, India, Japan, etc. The growing rate of urbanization with the proliferation of industrial and commercial units is the key factor responsible for the high demand.
- In countries like China and India, oil and gas and petrochemical projects, iron and steel plant projects, and power generation projects have witnessed growth in recent years. The trend is expected to continue in the unfolding scene due to the upcoming industrial projects.
- For example, countries like China are still developing the fuel-based power generation sector. In the first quarter of 2022, the provincial governments of many states in China approved new plans to add around 8.3 GW of coal-based power generation plants. The states include Hunan, Shaanxi, Gansu, Anhui, Zhejiang, and Fujian.
- Several refinery projects have been planned in India. For example, in July 2022, the Rajasthan government entered into an agreement with HPCL to set up a refinery and petrochemical complex in the Barmer district of Rajasthan. The project includes 13 mechanical units with a combined capacity of 9 million metric tons per year. It is expected to be operational by 2024.
- Such projects are expected to bolster the demand for fans and blowers in Asia-Pacific during the forecast period.
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