Amid the COVID-19 crisis, the global market for Centrifugal Blowers estimated at US$3 Billion in the year 2022, is projected to reach a revised size of US$3.5 Billion by 2026, growing at a CAGR of 3.9% over the analysis period. High Pressure, one of the segments analyzed in the report, is projected to grow at a 4.2% CAGR to reach US$2.2 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Medium Pressure segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 22.7% share of the global Centrifugal Blowers market.
The U.S. Market is Estimated at $753 Million in 2022, While China is Forecast to Reach $553.8 Million by 2026
The Centrifugal Blowers market in the U.S. is estimated at US$753 Million in the year 2022. The country currently accounts for a 25.21% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$553.8 Million in the year 2026 trailing a CAGR of 5.8% through the analysis period.
While weak investments and volatile industrial output will frustrate baseline growth in the industrial and manufacturing sector, manufacturing companies’ efforts to reduce costs, transform, innovate, improve performance for better chances of survival in a tough economy, will open opportunities for new and replacement demand for innovative, high performance and energy efficient centrifugal blowers.
The market is also driven by the rising construction industry. Extensive plans for infrastructure development, of many countries, creates ample growth opportunity for the market for centrifugal blowers. Infrastructure development currently is in full swing in developing countries of Asia-Pacific.
Another important market growth promoting factor has been the constant effort of manufacturers for developing product design and incorporating better features. Adoption in the chemical industry would also increase significantly. The blowers here are used for exhausting high temperature, and harmful gases from chemical plants. The wood industry also has immense use of centrifugal blowers that blow off dust particles.
In recent years, the increased focus on sustainability as well as achieving higher efficiency has led manufacturers of centrifugal blowers to make a substantial R&D investment towards developing low noise and cost-effective products that can help in optimizing the entire processing. This has resulted in the development of oil-free, integrally-geared centrifugal turbo blowers, which offer enhanced energy efficiency and flow rates, resulting in an energy-efficient, reliable, and continuous air supply. In addition, these industrial blowers can be easily serviced that can help in reducing operational costs, while their oil-free design also facilitates in delivering clean and pure air.