Centrifugal Blower Market to cross US$ 3.5 billion by 2028, Says Global Market Insights Inc.

SELBYVILLE, Del., Feb. 14, 2022 /PRNewswire/ -- The centrifugal blower market is projected to surpass USD 3.5 billion by 2028, as reported in a research study by Global Market Insights Inc. Augmenting demand from the pulp & paper industry will complement the business growth.

The cement industry held over 12% of the revenue share in 2021 and is anticipated to reach USD 450 million by 2028. Rising growth in the construction output-driven primarily by developing economies will create huge opportunities for the industry. Growing investments in the development of commercial & residential infrastructures will augment the centrifugal blower market demand.

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The mining application is projected to witness gains of about 4% through 2028. Mining industry is set to increase in the near future to counter the increasing mineral demand due to the growing population. Asia Pacific will account for the highest share due to increasing the demand for mining and growing industries in the region.

The COVID-19 pandemic affected almost all industrial verticals across the globe. Rising COVID-19 cases, mainly in Asia, resulted in the shutdown of production facilities with adverse impacts in FY 2020. China is one of the major manufacturers that witnessed a huge disruption due to the COVID-19 crisis, thereby disturbing the overall supply of the centrifugal blower market. The shutdown of major end-user industries, such as mining, cement, and pulp & paper, among others, created a dip in product demand in 2020.

Based on pressure, the low pressure segment is anticipated to exhibit a CAGR of over 3.5%. Low-pressure centrifugal blowers are widely used in various industrial verticals. They are mainly used as air extractors in workplaces and as exhaust gas and/or odor extractors.

Asia Pacific centrifugal blower market is poised to exhibit a CAGR of over 4% throughout the assessment period. The expanding residential & commercial construction coupled with product innovations by leading manufacturers in this region is expected to drive the market in the coming years. Moreover, the recent efforts by the Government of India to boost infrastructural growth in the country coupled with China's Belt and Road initiative, formerly known as the One Belt One Road initiative, will be a boon for the construction industry in Asia Pacific in the future.

Some major findings of the centrifugal blower market report include:

• The market growth can be attributed to rapidly growing residential & non-residential activities, especially in the developing regions of Asia Pacific. These factors are expected to promote the industry development.
• Growing demand from the pulp & paper industry mainly in China is anticipated to generate huge revenue gains throughout the assessment period.
• The recent COVID-19 outbreak affected major end-users across the globe. In 2020, the centrifugal blower market exhibited a decline of over 13%. The shutting down of major industrial verticals resulted in a decline in product consumption.

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Partial chapters of report table of contents (TOC):

Chapter 2 Executive Summary

2.1  Centrifugal blower industry 360° synopsis, 2018 – 2028

2.1.1  Business trends

2.1.2  Pressure by end-user trends

2.1.3  End-user trends

2.1.4  Regional trends

Chapter 3 Centrifugal Blowers Industry Insights

3.1  Industry segmentation

3.1.1  COVID-19 impact on industry landscape

3.2  Industry size and forecast, 2018 – 2028

3.3  Industry ecosystem analysis

3.4  Innovation & sustainability

3.5  Industry impact forces

3.5.1  Growth drivers

3.5.2  Industry pitfalls & challenges

3.6  Regulatory landscape

3.7  Growth potential analysis

3.8  Competitive landscape, 2020

3.9  Porter's analysis

3.10  Regional price trends

3.11  PESTEL Analysis

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights Inc.
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SOURCE Global Market Insights Inc.