Rockville, March 14, 2023 (GLOBE NEWSWIRE) -- As per this latest study by Fact.MR, a provider of market research and competitive intelligence, the global adaptive cooling fan market is expected to garner US$ 69 billion by 2033, expanding at a CAGR of 3% from 2023 to 2033.
A majority of today's major industries utilize cooling fans, although the IT/server, automotive, home appliance, and industrial sectors are the leading end users. The machinery employed in these industries generates a significant quantity of heat, which has the power to destroy an entire system. Thus, using a cooling fan is essential to maintaining the machinery's best performance and lifespan. A wide range of cooling fans, including axial fans, centrifugal fans, and others, are available to meet the requirements of various industries.
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Due to rising sales of smart appliances, mostly because of consumers' rising spending power, and increased consumer awareness of smart cities and smart integrated appliances, the Asia Pacific region is predicted to dominate the worldwide adaptive cooling fan market over the forecast period.
- In April 2022, JHCOOL unveiled the JH-10LF evaporative air conditioner. The condenser of the JH-10LF evaporative air conditioner is cooled using cooling water from the evaporative chiller.
Key Takeaways from Market Study
- The global adaptive cooling fan market amounted to US$ 51.2 billion in 2023.
- Worldwide demand for adaptive cooling fans is projected to increase at a CAGR of 3% during the forecast period (2023 to 2033).
- The global market is estimated to touch US$ 69 billion by the end of 2033.
- Asia Pacific dominated the global market with 38% share in 2022.
- The market in China is anticipated to surge ahead at a CAGR of 15.1%.
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Market Competition
Through joint ventures, mergers, and acquisitions, industry participants plan to reach specialty markets and grow their businesses internationally. Some of the major players in the industry are AMETEK, Denso Corporation, flexxaire, Horton Holding, SPAL Automotive, Valeo SA, Toshiba Electronic Devices & Storage Corporation.
- To increase its presence in China, for instance, Symphony purchased Munters Keruilai Air Treatment Equipment Co., Ltd.
- Metal Industries was bought by Greenheck Group, a multinational producer of air control systems, in December 2021. With the inclusion of grilles, registers, diffusers (GRDs), and air terminal units, metal industries broadened Greenheck's range of products (ATUs).
Competitive Landscape
The global market for adaptive cooling fans is fragmented with a growing number of manufacturers jostling for a higher market share. Businesses see an opportunity to accelerate expansion through new product introductions and sales channels.
- For quicker charging of electric vehicles, MAHLE created a new battery cooling system in September 2021. To ensure that the battery's maximum temperature reduces significantly while charging and that the temperature is spread more evenly, an electrically nonconductive coolant circulates in the cells.
- To provide unheard-of power and safety to the rapidly expanding electric vehicle (EV) market, XING Mobility and Castrol announced a partnership in April 2021 to further develop XING Mobility's immersion cooling battery technology. This partnership will make use of Castrol's advanced thermal management fluid.
Companies Profiled
- AMETEK, Inc.
- Denso Corporation
- Flexxaire Inc.
- Horton Holding, Inc.
- SPAL Automotive Srl
- Valeo SA
- Toshiba Electronic Devices & Storage Corporation
Key Segments of Adaptive Cooling Fan Industry Research
- By Type:
- Engine Cooling Fans
- Ventilation Fans
- Condenser Fans
- By Vehicle:
- Passenger Cars
- Commercial Vehicles
- Electric Vehicles
- By Sales Channel:
- OEMs
- Aftermarket
- By Region:
- North America
- Latin America
- Europe
- Asia Pacific & China
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global adaptive cooling fan market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on type (engine cooling fans, ventilation fans, condenser fans), vehicle (passenger cars, commercial vehicles, electric vehicles), and sales channel (OEMs, aftermarket), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
Key Questions Covered in the Adaptive Cooling Fan Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Adaptive Cooling Fan sales grow until 2033?
- Which are the factors hampering the Adaptive Cooling Fan demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Adaptive Cooling Fan Market during the forecast period?
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