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Technavio’s research analysis on the global industrial fans and blowers market identifies that the growth in the industrial sector will be one of the major factors that will have a positive impact on the growth of the market. The industrial sector has witnessed a rapid growth over the last few years. Countries such as China, Japan, India, Qatar, Saudi Arabia, and Oman are the major contributors to the growth of the industrial sector. Moreover, developing countries like China and India are largely investing in industrial development to attract more foreign investments to their countries. For instance, the government of India has introduced the "Make in India" initiative that offers tax exemptions to foreign companies that set up their manufacturing units in India. Also, other developing countries like China and Indonesia have similar initiatives to increase their economies. These initiatives provide increased assistance in the promotion of industrial growth and will fuel the need for fans and blowers. Our market research analysts predict that this market will register a revenue of more than USD 2.5 billion by 2021.
The rise of the renewable energy capacities is one of the key trends that will contribute to the growth of this market in the forthcoming years. Rising environmental concerns over CO2 emissions from the burning of fossil fuels to generate electricity have compelled several countries to switch to renewable sources of energy such as solar, wind, and tidal. Fossil fuels are one of the main contributors of CO2 emissions across the world. This has increased the focus to cleaner fuel sources such as renewables. Owing to the increased dependence of wind and solar power plants on industrial fans for the cooling of generators and inverters, the growth of the renewable capacities across the world will result in an increased demand for industrial fans in the coming years.
The industrial fans and blowers market consists of numerous global, regional, and local manufacturers. The vendors are increasingly concentrating on innovation and technology and competitive pricing to gain the competitive leverage. Vendors are also focusing on aftermarket service networks to expand their global presence.
The leading vendors in the market are –
The other prominent vendors in the market are Acme Engineering & Manufacturing, Air King America, Continental Blower, CG Power and Industrial Solutions Limited, DongKun Industrial, Gardner Denver, Hürner-Funken, LOREN COOK COMPANY, Nidec, and Wuhan General Group.
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During 2016, the industrial fans segment accounted for the major shares of the industrial fans and blowers market. Factors such as the increased usage of industrial fans for sectors like de-dusting, paint booths, agriculture and silos, boilers and ovens, textile, wood and paper, and microchips will contribute to the growth of this industry segment in the coming years.
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the industrial fans and blowers market throughout the forecast period. The increasing demand for industrial fans and blowers from food and beverage, power, and automotive industries in the countries such as China and India will drive the growth of the market in the region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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