Asia Pacific 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)
The Asia Pacific industrial fans market is expected to grow from US$ 3,733.21 million in 2022 to US$ 6,144.19 million by 2028. It is estimated to grow at a CAGR of 8.7% from 2022 to 2028.
Technological Advancement in Industrial Fans will be Driving the Asia Pacific Industrial Fans Market
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 Asia Pacific industrial fans market over the forecast period.
Asia Pacific Industrial Fans Market Overview
Based on geography, the Asia Pacific (APAC) Industrial fans market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The rise in government initiatives across countries in Asia Pacific, such as China and India, to promote the local manufacturing industry is expected to boost the demand for Industrial fans from the manufacturing plants. For instance, the electronics manufacturing industries across India and China are localizing production and establishing strong distribution channels for both domestic and internal distribution of their products. In March 2021, Apple Inc announced its intentions to localize the production of iPhones in India. These factors are directly driving the demand for Industrial fans across the region, thereby contributing to the Asia Pacific industrial fans market growth.
Industries such as automotive, food & beverages, oil & gas, and mining are constantly growing across Asia Pacific owing to a rise in investment by both regional and international players operating in the respective industries. Countries such as Vietnam, Thailand, Singapore, and Malaysia are experiencing a rise in investment by global players to set up their industry plants. Some of them are as follows:
• In August 2022, Baker Hughes announced the opening of its new chemical plant in Singapore to expand its local presence across the country and support regional growth.
• In November 2022, GSK announced the launch of a drug manufacturing facility in Singapore for US$ 33 million. The facility is specialized in the production of cancer treatment drugs.
• In April 2022, TTM Technologies Inc. announced the launch of its new PCB manufacturing plant in Malaysia with an investment of US$ 130 million. The facility is expected to start its operation in 2025.
The rise in the industry plants across the Asia Pacific countries is further expected to increase the demand for Industrial fans, thereby contributing to the growth of the Asia Pacific Industrial fans market.
The region is also home to several Industry fan market players. The key companies include Hangzhou Airflow Electric Appliances Co., Ltd; Xinxiang SIMO Blower Co., Ltd; Guangdong Shunde NAKKA Environmental Appliance Technology Co., Ltd; ALFA ENGINEERING CO.; and Sonika Engineers. These companies are focused on expanding their product portfolio through a rise in investment in product R&D and innovations. For instance, in February 2020, Elta Fans Asia launched its new long-cased axial fan, the Revolution SLC EC. The product is designed to lower operational costs by reducing installation time. Thus, the constant product development initiatives undertaken by Asia Pacific Industrial fans market players are contributing to the growth of the market.
Asia Pacific Industrial Fans Market Revenue and Forecast to 2028 (US$ Million)
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Asia Pacific Industrial Fans Market Segmentation
The Asia Pacific industrial fans market is segmented into technology, industrial, and country.
Based on technology, the Asia Pacific industrial fans market is bifurcated into centrifugal and axial. In 2022, the axial segment registered a larger share in the Asia Pacific industrial fans market.
Based on industrial, the Asia Pacific industrial fans market is segmented into chemical & petrochemicals, healthcare, automotive manufacturing, food & beverage, oil & gas, mining, and others. In 2022, the chemical & petrochemicals segment registered a largest share in the Asia Pacific industrial fans market.
Based on country, the Asia Pacific industrial fans market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. In 2022, China segment registered a largest share in the Asia Pacific industrial fans market.
Airmaster Fan Co; ebm‑papst Inc; FlaktGroup Holding GmbH; Greenheck Fan Corp; Johnson Controls International Plc; Systemair AB; and Witt & Sohn AG are the leading companies operating in the Asia Pacific industrial fans market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Industrial Fans Market Landscape
4.1 Market Overview
4.2 Asia Pacific PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Asia Pacific Industrial Fans Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand from Food & Beverage Industry
5.1.2 Growing Use of Industrial Fans in Oil & Gas, Cement, Chemical, Mining, and Manufacturing Industries
5.2 Market Restraints
5.2.1 Fluctuating Cost of Raw Materials
5.3 Market Opportunities
5.3.1 Rise in Power Consumption due to Urbanization
5.4 Future Trends
5.4.1 Technological Advancement in Industrial Fans
5.5 Impact Analysis of Drivers and Restraints
5.5.1 Asia Pacific Industrial Fans Market: Impact Analysis of Drivers and Restraints
6. Industrial Fans Market– Asia Pacific Market Analysis
6.1 Asia Pacific Industrial Fans Market Forecast and Analysis
7. Asia Pacific Industrial Fans Market Revenue and Forecast to 2028 – Technology
7.1 Overview
7.2 Asia Pacific Industrial Fans Market, by Technology (2021 & 2028)
7.3 Centrifugal
7.3.1 Overview
7.3.2 Centrifugal: Asia Pacific Industrial Fans Market Revenue and Forecast To 2028 (US$ Million)
7.4 Axial
7.4.1 Overview
7.4.2 Axial: Asia Pacific Industrial Fans Market Revenue and Forecast To 2028 (US$ Million)
8. Asia Pacific Industrial Fans Market – by Industry
8.1 Overview
8.2 Asia Pacific Industrial Fans Market, by Industry (2021 & 2028)
8.3 Chemicals and Petrochemicals
8.3.1 Overview
8.3.2 Chemicals and Petrochemicals: Asia Pacific Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Healthcare
8.4.1 Overview
8.4.2 Healthcare: Asia Pacific Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Automotive Manufacturing
8.5.1 Overview
8.5.2 Automotive Manufacturing: Asia Pacific Industrial Fans Market Revenue and Forecast To 2028 (US$ Million)
8.6 Food and Beverage
8.6.1 Overview
8.6.2 Food and Beverage: Asia Pacific Industrial Fans Market Revenue and Forecast To 2028 (US$ Million)
8.7 Oil and gas
8.7.1 Overview
8.7.2 Oil and gas: Asia Pacific Industrial Fans Market Revenue and Forecast To 2028 (US$ Million)
8.8 Mining
8.8.1 Overview
8.8.2 Mining: Asia Pacific Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
8.9 Others
8.9.1 Overview
8.9.2 Others: Asia Pacific Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Industrial Fans Market – Country Analysis
9.1 Overview
9.1.1 Asia Pacific: Industrial Fans Market, by Key Country
9.1.1.1 China: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 China: Industrial Fans Market, by Technology
9.1.1.1.2 China: Industrial Fans Market, by Industry
9.1.1.2 Japan: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Japan: Industrial Fans Market, by Technology
9.1.1.2.2 Japan: Industrial Fans Market, by Industry
9.1.1.3 India: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Industrial Fans Market, by Technology
9.1.1.3.2 India: Industrial Fans Market, by Industry
9.1.1.4 South Korea: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 South Korea: Industrial Fans Market, by Technology
9.1.1.4.2 South Korea: Industrial Fans Market, by Industry
9.1.1.5 Australia: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 Australia: Industrial Fans Market, by Technology
9.1.1.5.2 Australia: Industrial Fans Market, by Industry
9.1.1.6 Rest of Asia Pacific: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Asia Pacific: Industrial Fans Market, by Technology
9.1.1.6.2 Rest of Asia Pacific: Industrial Fans Market, by Industry
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 Witt & Sohn AG
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Airmaster Fan Co
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 FlaktGroup Holding GmbH
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Systemair AB
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 ebm-papst Inc
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Greenheck Fan Corp
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Johnson Controls International Plc
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Industrial Fans Market, Revenue and Forecast, 2019–2028 (US$ Million)
Table 2. Asia Pacific: Industrial Fans Market, by Key Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. China: Industrial Fans Market, by Technology– Revenue and Forecast to 2028 (US$ Million)
Table 4. China: Industrial Fans Market, by Industry – Revenue and Forecast to 2028 (US$ Million)
Table 5. Japan: Industrial Fans Market, by Technology– Revenue and Forecast to 2028 (US$ Million)
Table 6. Japan: Industrial Fans Market, by Industry – Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Industrial Fans Market, by Technology– Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Industrial Fans Market, by Industry – Revenue and Forecast to 2028 (US$ Million)
Table 9. South Korea: Industrial Fans Market, by Technology– Revenue and Forecast to 2028 (US$ Million)
Table 10. South Korea: Industrial Fans Market, by Industry – Revenue and Forecast to 2028 (US$ Million)
Table 11. Australia: Industrial Fans Market, by Technology– Revenue and Forecast to 2028 (US$ Million)
Table 12. Australia: Industrial Fans Market, by Industry – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Asia Pacific: Industrial Fans Market, by Technology– Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of Asia Pacific: Industrial Fans Market, by Industry – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Industrial Fans Market Segmentation
Figure 2. Asia Pacific Industrial Fans Market Segmentation – Country
Figure 3. Asia Pacific Industrial Fans Market Overview
Figure 4. Asia Pacific Industrial Fans Market, by Technology
Figure 5. Asia Pacific Industrial Fans Market, by Industry
Figure 6. Asia Pacific Industrial Fans Market, by Country
Figure 7. Asia Pacific: PEST Analysis
Figure 8. Asia Pacific Industrial Fans Market Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. Asia Pacific Industrial Fans Market, Forecast and Analysis (US$ Million)
Figure 11. Asia Pacific Industrial Fans Market, by Technology (2021 & 2028)
Figure 12. Centrifugal: Asia Pacific Industrial Fans Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Axial: Asia Pacific Industrial Fans Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Asia Pacific Industrial Fans Market Revenue Share, by Industry (2021 & 2028)
Figure 15. Chemicals and Petrochemicals: Asia Pacific Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Healthcare: Asia Pacific Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Automotive Manufacturing: Asia Pacific Industrial Fans Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Food and Beverage: Asia Pacific Industrial Fans Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Oil and gas: Asia Pacific Industrial Fans Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Mining: Asia Pacific Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: Asia Pacific Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Asia Pacific: Industrial Fans Market, by Key Country - Revenue (2021) (US$ Million)
Figure 23. Asia Pacific: Industrial Fans Market Revenue Share, by Key Country (2021 & 2028)
Figure 24. China: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Japan: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. India: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. South Korea: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Australia: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Rest of Asia Pacific: Industrial Fans Market – Revenue and Forecast to 2028 (US$ Million)
- Airmaster Fan Co
- ebm-papst Inc
- FlaktGroup Holding GmbH
- Greenheck Fan Corp
- Johnson Controls International Plc
- Systemair AB
- Witt & Sohn AG
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific industrial fans market.Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific industrial fans market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the industrial fans market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution