Frequently Asked Questions
The global Industrial ventilation fan market was valued at USD 1.2 billion in 2022.
The industrial ventilation fan market is expected to grow at a CAGR of 7.20% between 2023 and 2030, reaching USD 1.95229186 Billion in 2030.
Centrifugal Fans is the leading segment by service type, holding about four-fifths share in terms of value in 2022.
The ceiling Services segment governs the demand for industrial ventilation fans in the world.
Axial Fans is expected to post the highest CAGR during the forecast period.
Asia Pacific is fueling the growth of the industrial ventilation fan industry, with over three-fifth share in 2022.
The top players include Crompton, Delta Electronics, Inc., Fuji Electric Co., Ltd., Havells India Ltd., Mitsubishi Electric, Panasonic Corporation, Rexnord Electronics & Controls Ltd., and others.
Increasing awareness regarding workplace safety and regulations mandating proper ventilation systems and the growing need for proper air circulation, temperature control are the major market drivers.
Industrial ventilation fans require significant investment, especially for large-scale operations are the major market restraints.
Advancements in fan design, control systems, and automation opportunities in the industrial ventilation fan industry & the industrial sector continues to expand globally, creating a greater need for ventilation solutions is the opportunity for the market.