Report : Middle East & Africa Industrial Fans Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Technology (Centrifugal and Axial), Industrial (Chemical & Petrochemicals, Healthcare, Automotive Manufacturing, Food & beverage, Oil & Gas, Mining, and Others)
At 6.0% CAGR, the Middle East & Africa Industrial Fans Market is speculated to be worth US$ 605.53 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa industrial fans market was valued at US$ 427.82 million in 2022 and is expected to reach US$ 605.53 million by 2028, registering a CAGR of 6.0% from 2022 to 2028. Technological advancement in industrial fans and rise in power consumption due to urbanization are the critical factors attributed to the Middle East & Africa industrial fans market expansion.
Industrial fans are used for heat reduction applications, where cold air is blown to cool the industrial environment and processes. As the power requirement of applications and systems increases, the need for higher-power cooling also rises. Industrial fan design is evolving to meet these needs as an ideal method for improving performance at a relatively low cost. Various technological advancements were made to develop modern centrifugal and axial industrial fans to reduce the energy consumption of ventilation systems in modern buildings and structures. Industrial fans were undergoing several improvements to maximize output while conserving energy. The major improvements in industrial fan technology are an increase in energy efficiency, expansion of the working area for airflow rates at specified dimensions and speeds, noise reduction, and optimization of design performance. Thus, technological advancements in industrial fans are expected to fuel the Middle East & Africa industrial fans market over the forecast period.
On the contrary, fluctuating cost of raw materials hurdles the growth of Middle East & Africa industrial fans market.
Based on technology, the Middle East & Africa industrial fans market is bifurcated into centrifugal and axial. The axial segment held 63.1% share of Middle East & Africa industrial fans market in 2022, amassing US$ 270.09 million. It is projected to garner US$ 363.90 million by 2028 to expand at 5.1% CAGR during 2022–2028.
Based on industrial, the Middle East & Africa industrial fans market is segmented into chemical & petrochemicals, healthcare, automotive manufacturing, food & beverage, oil & gas, mining, and others. The chemical & petrochemicals segment held 25.5% share of Middle East & Africa industrial fans market in 2022, amassing US$ 109.29 million. It is projected to garner US$ 156.63 million by 2028 to expand at 6.2% CAGR during 2022–2028.
Based on country, the Middle East & Africa industrial fans market has been categorized into South Africa, the UAE, Saudi Arabia, and the Rest of Middle East & Africa. Our regional analysis states that South Africa captured 39.9% share of Middle East & Africa industrial fans market in 2022. It was assessed at US$ 170.72 million in 2022 and is likely to hit US$ 242.78 million by 2028, exhibiting a CAGR of 6.0% during the forecast period.
Key players profiles in the Middle East & Africa industrial fans market report are Airmaster Fan Co; ebm‑papst Inc; FlaktGroup Holding GmbH; Greenheck Fan Corp; Johnson Controls International Plc; and Systemair AB, among others
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