The primary purpose of industrial fans is to blow cold air and drive hot air out of the environment. There is a wide range of uses for industrial fans, from cooling large industrial spaces to providing cooling for technical assembly operations. The two primary types of industrial fans are axial and centrifugal. A centrifugal fan is similar to a blower, an enclosed unit that functions like a pump that pulls air in using a rapidly rotating impeller and then pushes it out at a 90° angle. An axial fan pulls and blows air parallel to its axis, causing the air to transfer axially outward. Motor, rotor shaft, and blades or impellers are fundamental components of an industrial fan assembly. Industrial fans are highly efficient and heavy-duty air flow devices that can withstand stringent environments and operate longer to provide constant airflow and pressure. Every industry requires air flow system to ensure a safe working environment, propels the adoption of industrial fans amongst the end user.
Ebm Papst Inc, Johnson Controls International Plc, Greenheck Fan Corp, Systemair Ab, And Witt & Sohn Ag Are Among the Key Market Players Operating in The Industrial Fans Market.
Industrial fans have been used for decades as a major cooling source for industrial machines and equipment. Industrial fans serve as cooling and air circulation devices to prevent overheating and subsequent damage. However, industrial fans possess common problems that can result in huge monetary losses. Moreover, industrial fans are made mainly of metal, so it needs regular maintenance for efficient and smooth operation. Industrial fans are also manufactured from carbon steel grades, stainless steels, nickel-based alloys, titanium, Monel, and aluminum. Further, new tariff rates are increasing the prices of steel and aluminum. The sharp price fluctuations in metals during the COVID-19 pandemic influenced the manufacturing of industrial fans. For instance, according to the World Bank report on Commodity Prices, there was a 20% rise in metal prices in August 2021. Thus, fluctuating cost of raw materials is restraining the industrial fan market growth
The industrial fans market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa, and South America. In 2022, The APAC industrial fan market accounted for the largest market share, and it is also expected to grow at the highest CAGR over the forecast period. The increasing investment by international brands to open their industrial plants across APAC countries such as India, Vietnam, Thailand, and China are further contributing to the rise in demand for industrial fans. For instance, in September 2021, BorgWarner announced the launch of its new variable cam timing (VCT) manufacturing plant in India. Similarly, in November 2022, Coretronic announced the launch of a new electronic plant in Vietnam. The plant is expected to be operational by the end of 2023. These factors are influencing the demand for industrial fans across the region, which is also expected to contribute to the APAC industrial fan market growth over the forecast period.
The top ten companies in the market include Witt & Sohn AG, Airmaster Fan Co, Johnson Controls International Plc, FlaktGroup Holding GmbH, Systemair AB, ebm papst Inc, Greenheck Fan Corp, Jan Fan Inc, Savio SRL, and Wilkinson Dynamic Balancing Ltd The above listing of key players is derived by considering multiple factors such as overall revenue, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the important market initiatives and product developments from the industry are mentioned below. Few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News |
| 2022 | Ebm-Papst Group is the leading producer of motors and fans globally, opening a new production plant with an investment of 30 US million for producing highly efficient fans and motors in the USA. This second plant expansion will strengthen the presence of Ebm-Papst in North America for future market growth of sustainable refrigeration, air conditioning, and ventilation applications |
| 2022 | Johnson Controls invested $7.5 million into new automation equipment at Oklahoma’s commercial HVAC manufacturing plant. The new equipment will increase capacity, while improving product quality, safety, and assembly productivity at the 900,000-square-foot facility, known as Johnson Controls Rooftop Center of Excellence. |
| 2021 | Greenheck Fan Corp, a leading company in engineering and manufacturing air movement, conditioning, and control equipment, has incorporated Northern Light® UV-C technology into its line of AMPLIFY™ overhead HVLS fans. Help control airborne pathogens in medical facilities and are recommended by the CDC, ASHRAE, and other organizations |
