Fan And Blower Motors Market Size, Share, Growth, and Industry Analysis by Type (Centrifugal Motor, Axial Flow Motor and Others) By Application (Hospital, Industrial, Commercial and Others), Regional Insights, and Forecast To 2032

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FAN AND BLOWER MOTORS MARKET OVERVIEW

The global fan and blower motors market size was valued at USD 5.89 billion in 2023 and is projected to touch USD 6.62 billion by 2032, exhibiting a CAGR of 1.3% during the forecast period.

The market for fans and blowers consists of the sales of fans and blowers by businesses (organizations, single proprietors, and partnerships) that are used to get around airflow obstructions like ducts and dampers. Machines that provide ventilation, the movement of air (or gas) needed for cooling, exhausting, and conveying, as well as being employed in industrial process needs, include fans and blowers.

COVID-19 Impact:  Numerous Halts in Operations Lowered the Market Demand

The global COVID-19 pandemic has been unprecedented and staggering, with fan and blower motors experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic has slowed the market's expansion. As a result of numerous halts in the operation of various end-use sectors, the market for fan and blower motors is slowing down. The continued effects of COVID-19, for instance, are still unknown in the mining sector, and the crisis had a negative influence on both the demand for commodities and the supply chain. While demand for gold and iron has soared, demand for thermal and metallurgical coal has fallen. The mining sector has been sluggish due to COVID-19 fears since many businesses lacked the authorization necessary to run their mines at full capacity. The market for these types of pumps is anticipated to decline as global mining activity slows.

LATEST TRENDS

Axial Flow Motors to Boost the Market Demands

Because of their small size and high-power density, axial flow motors are ideal for industrial machinery including industrial robots, blowers, pumps, compressors, and other similar machines; electric cars; drones; and so on. They have a small physical footprint, which reduces production costs and material use. It uses the same amount of current as conventional motors but generates more torque and power per unit area. An axial flow motor has a longer battery life as a result of this characteristic, which increases the cost-effectiveness of these motors. To meet the US Department of Energy's 2025 power density targets, for instance, which aim for an 89% reduction in motor volume compared to 2020 projections, a prototype motor has been created.

Axial flow motors are mostly used in electric vehicles, and demand for electric vehicles is rapidly growing due to rising gasoline prices around the world (according to OECD data, in the United States, import crude oil prices increased, as well as the negative environmental impact of operating oil-based vehicles, which drives demand for axial flow motors in the automotive and other industries). Axial flow motors are also used in other industries, such as agriculture and construction.

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FAN AND BLOWER MOTORS MARKET SEGMENTATION

• By Type Analysis

By type, market is segmented into centrifugal motor, axial flow motor and others. The centrifugal motor segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is hospital, industrial, commercial and others. The hospital segment will lead the global share through 2028.

DRIVING FACTORS

Commercial Kitchens to Bring Rise in the Market

The market for fans and blowers is anticipated to expand as commercial kitchens expand all over the world. Commercial kitchens are fully stocked preparation kitchens designed for shared use, including culinary kitchens, shared kitchens, kitchen incubators, and food innovation centres. Additionally, there are ghost kitchens, which are bare-bones commercial kitchens without a dine-in option. To keep the air clean and lower the risk of a hazardous grease fire, the majority of these kitchens need at least one upblast exhaust fan and hood system.

As a result, the demand for fans and blowers will rise throughout the forecast period due to an expansion in commercial kitchens around the world.

Technological Improvements to Boost the Market

The market for fans and blowers is changing due to technological improvements. For greater performance, companies that make fans and blowers have adopted technologies including liquid cooling technology. For instance, the US business Boyd Corporation created a low-profile cooling ultra-thin and lightweight blower in September 2020 utilizing liquid cooling technology. These have profiles that are narrow and ultra-thin, which are perfect for smaller, more powerful devices. They are as thin as 3 mm, working well in high pressure and providing cooling while preserving the durability.

RESTRAINING FACTORS

High Technical Production Process to Hinder the Market Demands

One of the main things preventing the axial flow motor market from expanding is the highly technical production process. Maintaining a continuous air gap between the two components during the manufacturing process is challenging because to the strong magnetic forces that must exist between the rotor and the stator. This technological issue, which affects several axial flow motor manufacturers, is anticipated to reduce the market's total revenue. In addition, the production process has certain heat issues because of the exact placing of results. The windings, which are buried deep inside the stator between the two rotor discs, raise cooling issues when the motor is operating. Axial flow motors have composite design and production issues, which raise their price relative to radial motor technology.

An axial flow motor's winding may be altered geometrically to match the design-specific diameter, which allows for a large decrease in the machine's overall volume. This makes it much more difficult to incorporate the motor into a compact design using conventional architectural methods.

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FAN AND BLOWER MOTORS MARKET REGIONAL INSIGHTS

Europe and North America to Grow Rapidly over the Period of Time

The European market will benefit from the presence of several significant fan and blower motor manufacturers as well as from rigorous government policies to reduce water pollution and treat water effluents. Additionally, the expansion of space heating and cooling systems together with the construction of new power plants will encourage the use of this product. France, the United Kingdom, Italy, Germany, and Russia are important nations with operations in the area.

According to projections, North America will have consistent expansion, with the United States dominating the regional industry scene. The market size will be impacted by rising building costs as well as the ongoing development of industrial facilities. Additionally, massive hydrocarbon reserves and rising oil and gas production objectives.

KEY INDUSTRY PLAYERS

Key Players Focus on Partnerships to Gain a Competitive Advantage

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List Of Top Fan And Blower Motors Companies

• ABB (Switzerland)
• Mitsubishi (Japan)
• Toshiba (Japan)
• Siemens (Germany)
• XIANGTAN ELECTRIC (China)
• TECO-Westinghouse Motor Company (U.S.)
• Nidec Motor Corporation (Japan)
• SEC Electric (U.S.)
• ASMO (Japan)
• Maxon motor (Switzerland)
• Rockwell Automation (U.S.)
• WoLong Group (China)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.