Report : South America 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 5.1% CAGR, the South America Industrial Fans Market is speculated to be worth US$ 449.84 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South America industrial fans market was valued at US$ 333.81 million in 2022 and is expected to reach US$ 449.84 million by 2028, registering a CAGR of 5.1% from 2022 to 2028. Growing use of industrial fans in oil & gas, cement, chemical, mining, and manufacturing industries and increasing demand from food & beverage industry are the critical factors attributed to the South America industrial fans market expansion
The manufacturing industry plays an important role in the economy, and the activities of the industry are also vital for national socioeconomic development. Industrial fans are used for cooling, exhaust, material handling, air conditioning, chemical processing, combustion, agricultural, and ventilation purposes. Industrial fans are crucial and mandatory for any industrial process. It is widely used in chemical, manufacturing, engineering, cement production, heating & ventilation, mining, and many other industries. These fans provide a safe, secure, comfortable, and productive working environment for long hours and days. Further, cement production requires various industrial fans that resist abrasion and dust buildup and can operate in high-temperature applications. The chemical industry’s operations involve handling and using hazardous and flammable substances and materials that require proper and safe storage, which require sufficient and adequate ventilation. In such scenarios, industrial fans play a vital role in keeping the chemicals cool and avoiding the buildup of hazardous fumes. The oil & gas industry's industrial fans perform in the harshest and most severe conditions. Further, industrial fans in the mining industry are used to supply sufficient oxygen to the working laborers and exhaust harmful gases. Improper ventilation in the underground mine can result in serious health issues for the manual workforce. Hence, the use of industrial fans in the mining industry is considered essential cautionary machinery and are mandated to use by strict laws in several countries. Therefore, the growing use of industrial fans in several industries such as oil & gas, cement, chemical, mining, and manufacturing is driving the South America industrial fans market growth.
On the contrary, fluctuating cost of raw materials hurdles the growth of South America industrial fans market.
Based on technology, the South America industrial fans market is bifurcated into centrifugal and axial. The axial segment held 64.6% share of South America industrial fans market in 2022, amassing US$ 215.52 million. It is projected to garner US$ 278.98 million by 2028 to expand at 4.4% CAGR during 2022–2028.
Based on industrial, the South America industrial fans market is segmented into chemical & petrochemicals, healthcare, automotive manufacturing, food & beverage, oil & gas, mining, and others. The chemical & petrochemicals segment held 22.9% share of South America industrial fans market in 2022, amassing US$ 76.50 million. It is projected to garner US$ 105.83 million by 2028 to expand at 5.6% CAGR during 2022–2028.
Based on country, the South America industrial fans market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 66.1% share of South America industrial fans market in 2022. It was assessed at US$ 220.75 million in 2022 and is likely to hit US$ 296.82 million by 2028, exhibiting a CAGR of 5.1% during the forecast period.
Key players profiles in the South America industrial fans market report are ebm‑papst Inc; FlaktGroup Holding GmbH; Greenheck Fan Corp; Johnson Controls International Plc; Systemair AB; and Witt & Sohn AG, among others.
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