LARGE COOLING FAN MARKET ANALYSIS

Regional Analysis

• By Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Asia Pacific held dominant position in the global large cooling fan market in 2021 and is estimated to retain its dominance throughout the forecast period. This is attributed to the presence of large number of mines and construction industries in the region. Moreover, underground mining is more hazardous as compared to surface mining due to outcome of many potential hazards such as adverse health effects and release of harmful gases that can lead to suffocation and many other serious problems. Therefore, cooling fans are needed to remove harmful and toxic gases from the mining sector. Moreover, Asia Pacific region is rich in bauxite, copper, iron, aluminum, and coal reserves, which boosts mining activities and this is expected to drive demand for large cooling fans.

North America is expected to exhibit highest growth during the forecast period, owing to the adoption of advanced technologies such as IoT and cloud. The market players are increasingly focusing on innovating their products, in order to improve efficiency and production. Most of the manufacturers are deploying IoT in the cooling fans, which can be automatically controlled through cloud technology. Large cooling fans are connected through internet and adjust their speed according to the temperature of the room. For instance, in May 2020, Delta Electronics, Inc., a Taiwan-based electronics manufacturing company, launched two smart building solutions such as air-conditioning anomaly detection and Bluetooth smart lighting by using Microsoft Azure hybrid cloud computing technology services. The smart building solutions can automatically collect data and the data is sensed by IoT devices for analysis and aids maintenance staff for real time monitoring operations of air conditioning system.