According to Fact.MR, a company that offers market research and competitive intelligence, the industrial ventilation fan market is anticipated to grow at a CAGR of 7% by value over the forecast period (2022-2032).
Around 45% of industrial infrastructure that uses ventilation fans is older than ten years old globally. The proportion of new infrastructure to existing infrastructure is very low in places like Europe and the United States. Companies have prioritized remodeling production facilities in these industrial clusters and have also invested in non-core machinery like ventilation fans. Spending on non-core industrial equipment has risen by an average of 14.7% in Western European nations, with some of this growth shifting to spending on ventilation fans.
Key Market Study Conclusions
• By the end of 2032, the Axial industrial ventilation fan market is anticipated to be worth US$ 2.2 million.
• Axial fans and centrifugal fans are expected to experience the fastest growth in demand over the projected period, with a CAGR of 7.6%.
Wall-mounted and ceiling-mounted fans are expected to have increases in demand at CAGRs of 7.9% and 6.6%, respectively, according to an analysis of mounting types.
• Flow rate segmentation suggests that the sub-100 CFM category is anticipated to grow at a CAGR of 8.6%.
• Over 2022, the East Asia region is anticipated to have an absolute dollar potential of US$ 225 Mn.
Industrial ventilation fan producers have expensive running expenses. In this industry, the costs of the resources needed to maintain their existence are very expensive. If new competitors operate by keeping their operational costs low from the outset of their businesses, they stand to earn significantly.
Existing manufacturers can reduce their costs from three different sources: fixed costs, variable costs, and semi-variable costs. Their chance to increase profitability will come from reduced operational costs.