ALBANY, N.Y, Oct. 19, 2020 /PRNewswire/ -- Set to grow at a rate of about 5% over the forecast period of 2020 to 2030, the global fan and blowers market is expected to chart a notable growth trajectory. Valuation will reach worth of USD 11.3 billion by the end of the forecast period. The market is growing - it is pertinent to note here - on the back of multiple positively impacting trends and drivers.
As per Transparency Market Research, "Commercial and industrial sectors, world over, are growing. It will impact growth in the global fans and blowers market in a positive manner. Players in the market are focusing upon product design. Technology is a major factor of growth. As smart technologies make in-roads in the market, demand would only grow further."
Regional Analysis of Global Fans and Blowers Market:
As far as a regional analysis is concerned, the charts are led by Asia Pacific and the trend is anticipated to sustain itself over the forecast period
In the Asia Pacific (APAC) region, countries that will lead the growth include India and China
It is pertinent to note here that African region is also contributing notably to market growth
Analyze global Fans and Blowers market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Competitive Landscape of the Global Fans and Blowers Market:
As far as revenue share is concerned in the market, it is pertinent to note about 30% is held by just a handful of leading players. Names that are well-received in the market include ACME Engineering & Manufacturing Corporation, Air Control Industries, Inc., Airmaster Fan, Alfa Fans, Gardner Denver, Inc., Continental Blower, LLC, and Air King America, LLC. The market is moderately fragmented.
Players are using a variety of growth strategies, usually a mix of inorganic and organic, to stay ahead of their game. Innovation is a key focus area for a number of top players, eyeing better revenues. In the recent past, strategies that have changed the game are key alliances and product development. For instance, in 2020, CycloBlower VHX was launched by Gardner Denver Inc. The blower boasts of a variable helix to helical screw design. It is known for efficiency and superior performance.
Vertical Lift Module Market – The global vertical lift module market is expected to expand at an impressive CAGR of 9% during the forecast period. The market growth can be primarily attributed to rise in demand for automated storage systems, flourishing e-Commerce sector, significant increase in the number of warehouses worldwide, widening applications in the various end-use sectors, and advancements in technology. The onset of the Industry 4.0 across the industrial sector worldwide is one of the major factors that will continue to offer opportunities to the players operating in the current vertical lift module market landscape.
Water Electrolysis Machine Market – The global water electrolysis machine market is expected to expand at a healthy CAGR of ~7% during the forecast period. Shift toward sustainable and environment-friendly technologies, increasing regulatory pressure pertaining to environmental protection, growing support from governments, and increasing investments toward the development of cutting-edge water electrolysis machines are some of the key factors that are anticipated to drive the growth of the global water electrolysis machine market during the assessment period. Market players should focus on research and development activities and eye opportunities in other regional markets by forging strategic partnerships and business alliances.
Temperature & Pressure Switches Market – The global temperature & pressure switches market is expected to expand at a moderate CAGR of ~4% during the forecast period. The market growth can be primarily attributed to factors such as increasing investments toward research and development, increasing adoption from various end-use sectors, stringent regulatory policies, and growing focus on improving the quality and functional properties of temperature & pressure switches. Advancements in the sensor technology is another factor likely to influence the overall growth of the global temperature & pressure switches market during the assessment period.
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