According to Future Market Insights, the global market for cooling fans is set to expand at a CAGR of over ~10.4% during the assessment period of 2022-2032 totaling a valuation of US$ ~21.2 Bn 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 R&D, an increase in demand for high-efficiency products in the manufacturing market.

Cooling fans have become essential equipment for numerous industries as they help to cool down machinery during functioning. These fans remove heat from systems and thus minimize the risk of damage to components due to excessive heating.

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Rising production and sales of vehicles across the globe will play a key role in boosting the global cooling fans market during the forecast period. Automotive manufacturers are installing efficient cooling fans in their vehicles as they take away all heat absorbed from the engine using coolant.

Most of the cooling sales remain concentrated in the industrial segment. However, other sectors like consumer electronics, telecom, and automotive will also help the cooling fans 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.

 “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.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global cooling fans market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the cooling fans market based on type (axial fans, centrifugal fans, and others), application (consumer electronics, telecom/Datacom, automotive and transportation, industrial, and others), and sales channel (direct sales, specialty stores, multi-brand store, online retailing, and others) across seven major regions.

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