The global market for cooling fans is set to expand at a CAGR of over ~10.4% during the assessment period of 2022-2032 totalling a valuation of US$ ~21.2 Billion by the end of 2032. Rapid growth of industries such as consumer electronics, automotive, and telecom is a key factor driving demand for cooling fans globally.
Similarly, the market is anticipated to expand quickly during the forecast period as a result of a many recent trends, including an increase in demand for cutting-edge technology, growing demand for hybrid electric vehicles, rapid penetration of industrialization, ongoing investment in RD, an increase in demand for high-efficiency products in the manufacturing market.
For many sectors, Cooling Systems are now necessary equipment because they keep machinery cool while it operates. By removing heat from systems, these fans reduce the possibility of component damage brought on by excessive heating.
Over the projected period, increasing vehicle production and sales will be a major factor in driving the worldwide cooling fans market. As coolant removes all of the heat received from the engine, automakers are putting effective cooling fans in their cars.
Request Sample Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-16328
Most of the cooling sales remain concentrated in the industrial segment. However, other sectors like consumer electronics, telecom, and automotive will also help the Air Coolers market to thrive at a stupendous growth rate during the projection period.
According to the report, key market participants are anticipated to concentrate on product penetration in regions like South Asia and Latin America. By integrating environmentally friendly raw materials in their production, cooling fan manufacturers are diverting their attention to sustainability concerns.
Key Takeaways from the Cooling Fans Market Study
- By type, centrifugal cooling fans segment is anticipated to grow at 5.4% CAGR through 2032.
- In terms of application, industrial segment holds the largest share of 37.2% in the global cooling fans market.
- Based on sales channel, the online retailing segment is forecast to grow at a CAGR of 5% over the projection period
- North America and Europe together hold the major share of around 2% in the global cooling fans market.
- The U.S. cooling fans market is projected to expand at 5.7% CAGR between 2022 and 2032.
- The overall cooling fans market in Japan is likely to grow at 9.2% CAGR during the forecast period.
“Cooling fan’s providers are concentrating on expanding their product portfolios by introducing innovative products at affordable prices. This will help them to increase their revenue share over the projection period”, says an FMI analyst.
Who is Winning?
Leading manufacturers of cooling fans are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of cooling fans market globally.
Leading players operating in the global cooling fans market are Delta Group, DENSO, MinebeaMitsumi Inc. (NMB Technologies Corporation), Nidec Corporation, EBM-Papst Group, Ziehl-Abegg SE, Aerovent, Horton, Inc., SPAL Automotive, S.P. Plastic Industries, SUNON Group, ADDA, AVC, AMETEK.Inc, Rosenberg, Multi-Wing America, and Flexxaire among others.
For any Queries Related with the Report, Ask to Analyst:
https://www.futuremarketinsights.com/ask-question/rep-gb-16328
Global Cooling Fans Industry by Category
By Type:
Axial Fans
Centrifugal Fans
Others
By Application:
Consumer Electronics
Telecom/Datacom
Automotive and Transportation
Industrial
Others
By Sales Channel:
Direct Sales
Specialty Stores
Multi-brand Stores
Online Retailing
Others
