QY Research has announced the release of a new report, titled “Global Industrial Ventilation Equipment Market Research Report 2020.” As per the report, the global industrial ventilation equipment market is anticipated to secure a significant value of US$9.5 Bn by the end of 2026 while rising at a compound annual growth rate of 3.9% during the forecast period 2020-2026. In 2019, the global market value reached US$7.2 Bn. The global industrial ventilation equipment market is highly fragmented. In 2019, Greenheck, Air Systems Components, Ebm-Papst, Twin City Fan, and Systemair collectively accounted for 31% share of the global industrial ventilation equipment market.
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Chemical Processing and Mining Companies to Significantly Add to Global Demand
Increasing implementation of stringent industrial worker health safety regulations is expected to augment the demand for industrial ventilation equipment in future. High investments for the development of transportation, water, and power industries could put a positive impact on the growth of the global industrial ventilation equipment market. The requirement for mine ventilation systems is anticipated to improve with increasing mining activities by private as well as state-owned miners.
Other industries such as chemicals and pharmaceuticals could also contribute to the expansion of the global industrial ventilation equipment market. In February 2020, Paul’s Fan Company mentioned in one of its case studies about the use of a highly customized industrial fan to remove particulates from the air to create a cleaner work environment for a fiber manufacturing and chemical processing facility.
Axial Fans Find Application in Wastewater Pump Station Ventilation and Furnace Exhaust
On the basis of type, the global industrial ventilation equipment market is segmented into axial fans, centrifugal fans, and others. Axial fans may perform better than centrifugal fans in terms of market share. Common applications of axial fans are wastewater pump station ventilation, furnace exhaust, warehouse exhaust ventilation, supply ventilation, and paint booth exhaust. The report also provides in-depth assessment of key applications of industrial ventilation equipment such as oil and gas, metals and mining, general manufacturing, chemical, building, and others.
Asia Pacific to Create Quick Growth Opportunities with Increasing Rate of Industrialization
Asia Pacific is anticipated to show quick growth in the global industrial ventilation equipment market due to rising pollution levels in countries such as India. High industrialization and urbanization growth and increasing growth of the manufacturing sector could contribute to the demand for industrial ventilation equipment in Asia Pacific. Government initiatives to reduce air pollution, the need to improve air quality are predicted to further add to the growth of the industrial ventilation equipment market in the developing region.
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Players to Invest in Product Innovation and Application Expansion to Gain Growth Globally
Some of the key manufacturers operating in the global industrial ventilation equipment market are Greenheck, Vent-Axia, Ebm-Papst, Cincinnati Fan, Systemair, Cofimco, Twin City Fan, Nanfang Ventilator, Air Systems Components, Delta Electronics, FläktGroup, Hitachi, Soler & Palau, Mitsui Miike Machinery, Johnson Controls, Loren Cook, Mitsubishi Electric, Howden, Polypipe Ventilation, Zhejiang Shangfeng, Nortek Air Solutions, Acme Fans, New York Blower, and Yilida. Industrial ventilation equipment manufacturers are expected to focus on product innovation to achieve a position of strength in the global market.
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