The global cooling fans market has witnessed significant growth, with the market size reaching approximately USD 7.9 billion in 2022. Projections indicate that this valuation will surpass USD 21.2 billion by 2032, driven by a robust CAGR of 10.4% from 2022 to 2032.
This impressive growth is fueled by the rapid expansion of key industries such as automotive, consumer electronics, and IT & telecom. The cooling fans market currently accounts for 20% to 25% of the overall global fan market, a figure expected to rise in light of increasing production and sales of hybrid electric vehicles.
Key Takeaways
- The global cooling fans market is projected to grow from $7.9 billion in 2022 to over $21 billion by 2032.
- A robust CAGR of 10.4% is expected, driven by industries like automotive and consumer electronics.
- Cooling fans account for 20% to 25% of the overall global fan market share.
- These fans are essential for heat dissipation, preventing device overheating.
- Key sectors for cooling fan applications include automotive, consumer electronics, and industrial industries.
- The U.S. cooling fans market is expected to grow at 5.7% CAGR due to increased awareness of heating hazards.
- India is emerging as a lucrative market, propelled by rapid industrialization and data center growth.
- The U.K. market benefits from established companies and strict energy efficiency regulations.
- Centrifugal cooling fans currently hold a 55.4% market share, favored for their energy efficiency.
- Online retailing is projected to be the fastest-growing sales channel, with a CAGR of 15.5%.
Regional Insights
- United States: The cooling fans market is expected to grow at 5.7% CAGR, driven by hybrid electric vehicles and increased data centers.
- India: Rapid industrialization and a surge in data centers are set to make India a lucrative market for cooling fans.
- United Kingdom: Established companies and strict energy efficiency regulations are boosting the cooling fans market in the U.K.
Competitive Landscape
Key players in the market are concentrating on new product launches and mergers & acquisitions to enhance their global presence and secure a larger revenue share. To meet the rising demand for online clothing rentals globally, manufacturers are actively acquiring domestic companies. These strategies aim to expand their product lines and incorporate innovative offerings into their portfolios.
For instance
- In 2022, AMETEK, Inc., a leading global manufacturer of electronic instruments and electromechanical devices completed the acquisition of Navitar, Inc. and RTDS Technologies Inc.
- In 2021, Series PFB-E & GFB-E cooling fans were launched by Delta for the server architectures and power modules.
- In March 2022, DENSO Products and Services Americas, Inc., showcased its new EdgeCool system for cooling rack-mounted computer servers.
Key Companies Profiled
Delta Group; MinebeaMitsumi Inc. (NMB Technologies Corporation); SUNON Group; Nidec Corporation; EBM-Papst Group; Ziehl-Abegg SE; Aerovent; Horton, Inc.; SPAL Automotive; DENSO; S.P. Plastic Industries; ADDA; AVC; AMETEK. Inc;
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Global Cooling Fans Industry by Category
By Type:
- Axial Fans
- Centrifugal Fans
- Others
By Application:
- Consumer Electronics
- Telecom/Datacom
- Automotive and Transportation
- Industrial
- Others
By Sales Channel:
- Direct Sales
- Specialty Stores
- Multi-brand Stores
- Online Retailing
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa(MEA)
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