|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 3 Billion||USD 5 Billion||4.6%||2022|
Centrifugal Fans Market
The global centrifugal fans market size was evaluated at $3 billion in 2022 and is slated to hit $5 billion by the end of 2030 with a CAGR of nearly 4.6% between 2023 and 2030.
Centrifugal fans are strong and drum-sized instruments utilized for offering a high-pressure air flow for cooling and ventilating various household appliances as well as residential, commercial, and industrial systems. They are referred to as blowers and are known for their reliability, flexibility, and low noise output. These products are used in high-pressure applications and found in processing industries as a key element in air pollution control systems. Reportedly, they increase air velocity with air flowing through impellers. In addition to this, the product is mainly utilized in aspirating, exhausting, conveying, cooling, and ventilating. For the record, centrifugal fans make use of centrifugal force that is produced with the help of a spinning disk.
Rise in the number of constructions across the globe to pave the way for global market surge by 2030
An increase in construction activities will steer the expansion of the centrifugal fans market globally. Rapid infrastructural growth in emerging economies has culminated in humungous demand for centrifugal fans in recent years. Growing demand for air pollution control systems will steer the expansion of the market across the globe. A surge in the number of steel and cement units in the emerging economies of Asia and Latin America will embellish the expansion of the market globally. A prominent rise in the penetration of centrifugal fans in food & beverages, pharmaceuticals, and manufacturing sectors will spearhead the growth of the global market. Business strategies such as new product launches implemented by firms will contribute sizably towards the global market profitability. In September 2023, the ebm-papst Group, a key manufacturer of fans & electric motors, introduced the second generation of RadiCal centrifugal fan series.
Increase in the costs of product can impede the global industry expansion over 2023-2030
High product costs as well as maintenance charges can restrict the growth of the centrifugal fans industry globally. Fluctuations in the raw component prices can further impede the expansion of the industry in the forthcoming years.
Surge in the manufacture of products in various end-use sectors will generate new opportunities for growth for the global market
Increase in the production of centrifugal fans for fulfilling the product demand in oil & gas burner applications, HVAC tools, and household equipment will open new growth avenues for the global centrifugal fans market.
Supply chain fluctuations can lead to huge challenges for the growth of the global industry in the coming years
Disruptions in the supply chain activities can prove to be a huge challenge for the global centrifugal fans industry.
The global centrifugal fans market is sectored into pressure, end-user, and region.
In pressure terms, the global centrifugal fans market is segregated into low pressure, medium pressure, and high pressure segments. Furthermore, the low pressure segment, which amassed nearly two-thirds of the global market revenue in 2022, is set to register the fastest CAGR in the years to come. The growth of the segment during the predicted timeline can be due to a rise in the use of low pressure centrifugal fans in a slew of industrial applications. For the record, they are used in workspaces as exhaust fans and odor, as well as air extractors.
Based on the end-user, the global centrifugal fans industry is sectored into cement unit, pulp & paper, steel unit, chemical, power station, and mining segments. Moreover, the mining segment, which garnered a major chunk of the global industry share in 2022, is estimated to lead the global industry over the projected timeframe. The segmental expansion over the assessment timespan can be subject to the need for maintaining healthy indoor quality in mining activities.
|Report Attributes||Report Details|
|Report Name||Centrifugal Fans Market|
|Market Size in 2022||USD 3 Billion|
|Market Forecast in 2030||USD 5 Billion|
|Growth Rate||CAGR of 4.6%|
|Number of Pages||211|
|Key Companies Covered||Ebm-Papst, Systemair, Ventmeca, Twin City Fan, Greenheck Fan, Acme Fans, Fl ktGroup, Loren Cook, Johnson Controls, Nortek Air Solutions, Mitsui Miike Machinery, Cincinnati Fan, New York Blower, Soler & Palau, Nanfang Ventilator, Howden, Yilida, Zhejiang Shangfeng, and others.|
|Segments Covered||By Pressure, By End-User, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Europe is predicted to maintain its dominant position in the global centrifugal fans market over the analysis period
Europe, which contributed about 55% of the global centrifugal fans market revenue in 2022, will be a dominating region over the projected timespan. Additionally, the regional market expansion during 2023-2030 can be due to an increase in construction activities in countries such as the UK, Germany, Spain, Sweden, Austria, Italy, and France. Rise in the flow of immigrants in the European countries has resulted in immense demand for housing activities, thereby driving the regional market trends. Presence of key product manufacturers in the continent will contribute notably towards the size of the industry in the region.
Asia-Pacific centrifugal fans industry is set to register the fastest CAGR in the forthcoming years owing to lower labor costs as well as lower prices of manufacturing consumer goods in countries such as China and India. Apart from this, low raw material costs can prove beneficial for the growth of the industry in the region.
The global centrifugal fans market profiles key players such as:
Centrifugal fans are strong and drum-sized instruments utilized for offering a high-pressure air flow for cooling and ventilating various household appliances as well as residential, commercial, and industrial systems.
The global centrifugal fans market growth can be owing to escalating demand for air pollution control systems.
According to a study, the global centrifugal fans industry size was $3 billion in 2022 and is projected to reach $5 billion by the end of 2030.
The global centrifugal fans market is anticipated to record a CAGR of nearly 4.6% from 2023 to 2030.
The Asia-Pacific centrifugal fans industry is set to register the fastest CAGR over the forecasting timeline owing to lower labor costs as well as lower price of manufacturing consumer goods in the countries such as China and India. Apart from this, low raw material costs can prove beneficial for the growth of the industry in the region.
The global centrifugal fans market is led by players such as Ebm-Papst, Systemair, Ventmeca, Twin City Fan, Greenheck Fan, Acme Fans, Fl ktGroup, Loren Cook, Johnson Controls, Nortek Air Solutions, Mitsui Miike Machinery, Cincinnati Fan, New York Blower, Soler & Palau, Nanfang Ventilator, Howden, Yilida, and Zhejiang Shangfeng.
The centrifugal fans market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.