Cooling fans are used to remove excess amount of heat in automotive or electronic systems. Large cooling fan used in many industries such as IT, automobile, mining, and others. Moreover, increasing demand for IoT devices and increasing adoption of advanced driver assistance systems (ADAS) are the major factors that are expected to drive the market growth during the forecast period. For instance, in July 2019, ebm-papst, a Germany-based company, which is leader in the manufacturing of fan and electric motors entered into a partnership with Plug and Play Tech Center, a U.S.-based corporate innovation platform. Through this partnership, ebm-papst utilized Plug and Play Tech Center industry specific platform in the field of IoT. However, critical designing of cooling fans and high power consumption are some of the factors that are expected to restrain growth of the market.
In 2021, global large cooling fan market is estimated to reach US$ 6,140 million in terms of value.
The global large cooling fan market is expected to grow significantly during the forecast period, due to rising demand for cooling fans from various applications such as chemical, construction, manufacturing, food & beverages, and others. In chemical industries, cooling fans are used for air cleaning and for maintaining the environment clean and pure. Increasing demand for large cooling fan from chemical industries in the Asia Pacific region is expected to drive the market growth during the forecast period. For instance, India has some of the largest chemical and petrochemical company in the world such as Tata Chemicals Ltd. and Reliance Industries Limited. Similarly, according to Coherent Market Insight analysis, economies such as Japan and South Korea have plans to expand their manufacturing and power generation sector. Thus, this is expected to drive demand for large cooling fans during the forecast period.
Furthermore, major global players across different regions are focusing on developing new products with new features and technologies to gain competitive edge in the market. Industries are developing cooling fans with new features to cater to the demand from the end users. For instance, in January 2012, ebm-papst., electric motors and fans manufacturer, has introduced new compact fan for decentralized residential ventilation systems
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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