The global HVAC blower and fan Systems market garnered a market value of US$ 2887.6 Million in 2022 and is expected to accumulate a market value of US$ 3976.3 Million by registering a CAGR of 3.3% in the forecast period 2022-2032. Growth of the HVAC blower and fan market can be attributed to the increasing need for ventilation and cooling systems in commercial sectors. The market for HVAC blowers and fans registered a CAGR of 3.1% in the historical period 2016-2021.
HVAC blower and fan systems are air ventilation systems which ensure efficient movement of air through various heating, ventilation and air conditioning systems. These HVAC blower and fan systems are composed of an electric motor, modules, resistors and fans. Ranging from automotive industry, aviation industry and residential sector, these HVAC fans and blower systems find applications across a diverse set of industries. HVAC blower and fan systems market comprises a wide range of products and ancillaries depending upon the intended application. HVAC blower and fan systems are widely used in industrial applications such as those in power generation, mining, Oil & Gas, aviation, and automotive industry among others.
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Besides ensuring optimum movement of air, these HVAC fans and blower systems also play a vital role in ensuring safety of vital components such as engines. Thus, HVAC blower and fan systems are used in many industrial applications owing to which, HVAC blower and fan systems market is expected to witness significant growth during the forecast period.
HVAC Blower and Fan Systems Market: Dynamics
Anticipated steady growth in industrialization, especially in developing countries such as those in Asia Pacific, Latin America and Africa is expected to drive the growth of global HVAC blower and fan system market during the forecast period. Automotive industry accounts for a significant share in global HVAC blower and fan systems market. Anticipated steady growth in automotive production is expected to fuel the growth in demand for HVAC blowers and fans.
Moreover, growth in construction activity and infrastructure related spending coupled with increasing urbanization, especially, in developing countries in Asia Pacific and MEA regions is another factor that is expected drive growth of HVAC fans and blowers market. Furthermore, efforts towards development of efficient systems that adhere to standards such as LEED, and ASHRAE are expected to be witnessed over the forecast period. Demand for HVAC blower and fan systems is expected to register a moderate single digit growth over the forecast period.
However, relatively high cost associated with manufacture of some of these HVAC blowers and fan systems is expected to be one of the factors that are expected to act as impediments to growth of the market during forecast period. Furthermore, use of some of the harmful gases in certain systems and regulations and restrictions pertaining the same is another factor that is likely to impede the growth of market.
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HVAC Blower and Fan Systems Market: Segmentation
The global HVAC blower and fan systems market is divided on the basis product type, and end users. On the basis of product type, HVAC blower and fan systems market can be segmented as axial, centrifugal, backward inclined fans, others. On the basis of end users, the global HVAC blower and fan systems market can be segmented as Industrial, residential and Commercial users.
HVAC Blower and Fan Systems Market: Regional Outlook
The global HVAC blowers and fan market is expected to register a steady CAGR over the forecast period. North America is expected to account for a significant share in global HVAC blowers and fan market in various industrial and commercial applications. Asia Pacific region is expected to witness relatively faster growth owing to growth across key application sectors for HVAC blowers and fan systems. Moreover, MEA and Eastern Europe regions are expected to witness steady growth owing to anticipated steady growth in construction activity in the region over the forecast period. Overall, the HVAC blowers and fan systems market is expected to witness steady growth during the forecast period owing to rising demand in various segments.
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HVAC Blower and Fan Systems Market: Market Players
Examples of some of the market participants in the global HVAC blowers and Fan systems market identified across the value chain include:
- CG Power and Industrial Solutions Limited
- Acme Engineering and Manufacturing Corporation
- Air systems component Inc.
- Wuhan General Group (China) Co. Ltd.
- Continental blower LLC
- Air Master Fan company, Inc.
- DongKun Industrial Co. Ltd.
- Fläkt Woods Group SA
- Greenheck Fan Corporation
- Howden Group Ltd
- Loren Cook Company
- Gardner Denver, Inc.
- CECO Environmental
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.
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