Large Cooling Fan Global Market Report 2024

The global large cooling fan market has grown strongly in recent years. It will grow from $7.08 billion in 2023 to $7.78 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth witnessed in the historical period can be credited to several key factors. These include the surge in industrialization and manufacturing output, an upswing in both commercial and residential construction activities, the expansion of data centers, notable growth within the automotive industry, stringent energy efficiency regulations, the amplification of warehousing and logistics operations, an uptick in power generation capacity, and an escalating demand for environmentally friendly and sustainable solutions. These elements collectively contributed to the overall growth observed during that period.

The global large cooling fan market is expected to see rapid growth in the next few years. It will grow to $12.34 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. Anticipated growth in the upcoming forecast period is driven by multiple factors, notably the escalating demand for high-capacity cooling solutions and the imperative need for effective data center cooling. This growth is further propelled by the global shift towards renewable energy sources, the expanding e-commerce sector leading to increased warehousing demands, the burgeoning aerospace industry, and governmental initiatives promoting energy efficiency.

Infrastructure development is poised to be a significant driver for the large cooling fan market. This encompasses the construction of fundamental structures that spur economic growth and enhance living standards. Large cooling fans, like axial fans used at construction sites, warehouses, and assembly operations, facilitate spot or general cooling by moving substantial air volumes. Notably, initiatives like the Global Infrastructure and Investment Partnership by the G7 Summit Leaders aim to foster sustainable infrastructure in developing nations through a $600 billion funding collaboration among G7 countries. Similarly, the Indian government's plan to invest $1.4 trillion in infrastructure development between 2019 and 2023 underscores how infrastructural growth fuels demand for large cooling fans in the forecasted period.

The upsurge in demand for Internet of Things (IoT) devices is expected to drive growth within the large cooling fan market. IoT devices, equipped with sensors and connectivity features, enable data collection, exchange, and remote control over the Internet. Large cooling fans benefit from IoT integration, facilitating remote monitoring, automated adjustments, and energy efficiency optimization. The proliferation of global IoT connections, projected to grow from 13.2 billion in 2022 to an estimated 34.7 billion by 2028, underscores the pivotal role of rising IoT demand in propelling the large cooling fan market.

Innovation emerges as a pivotal trend shaping the landscape of the large cooling fan market. Leading companies are leveraging new technologies to develop innovative products, gaining a competitive advantage in the market. For example, MaxSun's launch of the RTX 4090 MGG, featuring five strategically positioned cooling fans, showcases a pioneering design aimed at enhancing heat dissipation efficiency in GPUs.

Major companies in the large cooling fan market are intensifying their focus on introducing IoT-enabled fans to gain a competitive edge. The Cloud 3 fan, launched by Orient Electric, integrates IoT capabilities and innovative CloudchillTM technology. This smart pedestal fan employs water to produce nanoparticles, effectively reducing room temperatures by up to 12-18 degrees Celsius and up to 20 degrees Celsius with the addition of ice to the water reservoir. This strategic move emphasizes the significance of IoT-driven innovations in capturing market opportunities.

In December 2021, SPX Corporation, a US-based provider of engineered products and technologies, completed the acquisition of Cincinnati Fan & Ventilator Co Inc for $145 million. This strategic acquisition enabled SPX Corporation to expand its offerings with Cincinnati Fan's high-performance engineered air quality portfolio. Leveraging this portfolio, SPX aims to bolster its market presence, optimize distribution channels, and drive additional growth. Cincinnati Fan & Ventilator Co Inc., also based in the US, specializes in providing tailored engineered air quality solutions, encompassing centrifugal fans, blowers, axial flow fans, and critical exhaust systems.

Major companies operating in the large cooling fan market report are ebm-papst Group, Ziehl-Abegg SE, Horton Holding GmbH & Co. KG, Multi-Wing America Inc., Delta Electronics Inc., Rosenberg Ventilatoren GmbH, Ventech Systems Ltd., Teral-Aerotech Fans Pvt. Ltd., Airtech Blower Industries Pvt. Ltd., Howden Group Plc., Smd Engineering Equipments & Systems Ltd., Kilburn Engineering Ltd., Revcor Airflow Solutions, Halifax Fan Ltd., CUI Devices Inc., Airmaster Fan Company Ltd., Big Ass Fans Inc., Penn Fan Company Inc., Twin City Fan Companies Ltd., Patterson Fan Company Inc., Air Control Industries Ltd., Hunter Industrial Fans Inc., Greenheck Fan Corporation, Loren Cook Company, Continental Fan Manufacturing Inc., AirPro Fan & Blower Company Inc., Schaefer Ventilation Equipment Inc., Canarm Ltd., Cincinnati Fan Company, Air King Limited, AirMax Fans Inc., AirVolution-D, Air Comfort Corporation

Asia-Pacific was the largest region in the large cooling fan market share in 2023. The regions covered in the large cooling fan market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the large cooling fan market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of large cooling fans include axial, centrifugal, and other variations. An axial fan propels extracted air parallel to the central shaft around which its blades rotate. Widely utilized across various devices and systems, these fans excel in moving both hot and cold air. Their shallow installation depth, minimal noise output, and high efficiency make them especially adept at directing air through heat exchangers.

This report provides large cooling fan market statistics, including large cooling fan industry global market size, regional shares, competitors with a large cooling fan market share, detailed large cooling fan market segments, market trends and opportunities, and any further data you may need to thrive in the large cooling fan industry. This large cooling fan market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The large cooling fan market consists of sales of large cooling fans including blowers and cross-flow fans. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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