The Large Cooling Fan Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Large Cooling Fan Global Market Report 2024, The large cooling fan market size 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 in the historic period can be attributed to industrialization and manufacturing growth, rise in commercial and residential construction, expansion of data centers, growth of the automotive industry, energy efficiency regulations, expansion of warehousing and logistics, increase in power generation capacity, demand for green and sustainable solutions..
The large cooling fan market size 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%. The growth in the forecast period can be attributed to rising demand for high-capacity cooling, increasing need for data center cooling, transition to renewable energy, expansion of e-commerce and warehousing, growth of the aerospace industry, government initiatives for energy efficiency, focus on indoor air quality, rapid urbanization and infrastructure development.. Major trends in the forecast period include integration of smart technologies, advancements in blade design, portable and mobile units, customization and specialized solutions, noise reduction technologies, high airflow models, integration of iot and analytics..
Infrastructural development is expected to drive the large cooling fan market. Infrastructural development refers to the construction of basic foundational structures that stimulate economic growth and improve quality of life. At construction sites, warehouses, and assembly operations, large cooling fans such as axial fans move large volumes of air for spot cooling or general cooling, thus the infrastructural developments will result in a rise in demand for large cooling fans. For instance, in June 2022, G7 Summit Leaders, an informal grouping of seven advanced economies (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States), launched a partnership for Global Infrastructure and Investment, which is aimed at supporting the development of sustainable, quality infrastructure in developing countries bolster the global economy, supply chains, and advance US national security by mobilizing $600 billion in public and private funding through collaborations among G7 countries. Similarly, from 2019 to 2023, the Indian government plans to spend $1.4 trillion on infrastructure development in the country. Thus, infrastructural development will drive the growth of the large cooling fan market in the forecast period.
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The large cooling fan market covered in this report is segmented –
1) By Type: Axial, Centrifugal, Other Types
2) By Application: Agriculture, Mining, Marine, Consumer Electronics, Automotive, Other Applications
Innovation is a key trend gaining popularity in the large cooling fan market. Major companies operating in the market are developing innovative products by adopting new technology, to gain a competitive edge in the market. For instance, in August 2023, MaxSun, a China-based technology company, launched the RTX 4090 MGG, which is the first GPU to feature five cooling fans. This innovative design includes three 10cm or 11cm fans strategically positioned over the GPU’s vapor chamber, along with two smaller Air Boost fans located on the upper side to enhance heat dissipation efficiency.
The large cooling fan market report table of contents includes:
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