Draught Fan Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Draught fans are exhaust fans that are used in industries for various activities such as power generation and ventilation. They are used in thermal power plants for maintaining the temperature of the combustion chamber by adding exhaust fumes into combustion chamber or drawing out the exhaust fumes from the combustion chamber into the chimney. Draught fans are classified into two types, which include forced draught fan and Induced draught fan. The basic difference between the two is forced draught fan pushes the atmospheric air into the air distribution system while the induced draft fan draws the gases out to the atmosphere. Induced fans are placed in the inlet of the boiler, while the forced draft fans are deployed at the outlet between the chimney and the dust filter. Draught fans are essential in industries generally in the energy and power industries.

Covid-19 Scenario Analysis:

• The demand for the draught fan is expected to decrease in the year 2020 due to lockdown imposed by the government and low demand from chemical industries.
• COVID-19 pandemic has halted the production of various products in the chemical industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of draught fan market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth throughout the year. 
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which is negatively affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Increasing demand for the thermal power plants due to increasing energy consumption act as the major growth drivers for the draught fan market. Further, maintaining the temperature around the combustion chamber in industries like coal, chemical, oil, and gas contribute to the growth of draught fans market. A considerable rise in factories and an increase in demand for industrial fans acting as the major growth drivers for the draught fan market. Draught fans remove the poisonous gases, air contaminants, and smoke making the air clean for humans. Asia-Pacific countries such as India and China are rapidly increasing power plant projects, which further drive the requirement for the draught fans. Asia-Pacific is an emerging region in the power supply. Thus, in this region the draught fans will have more demand in the thermal power plants, thus driving the market of draught fans. The U.S being the largest producer of electricity drives the market of draught fans in this country. Government stringent regulation on air pollution in industries also acts as the driver as all the industries need to set up these fans for removing the toxic gases that arise during the production process for the worker's safety. However, the lag in the power supply in some countries can hamper the growth of the draught fans market. Also, countries with less infrastructural development can hamper the growth of draught fans as fewer industries are established in these countries. Contrarily, the requirement for draught fans in coal industries, thermal power plants like NTPC, and NALCO present new pathways for draught fans market. Thus, draught fans are in high demand due to their high quality and high operational performance.

The global draught fan market trends are:

New product launches to flourish the market

The launch of the new generation technologically advanced products can boost the growth of the market. In the past few years, many such products having unique features that were launched in the market. In 2019, AIRAP company launched a new centrifugal draught fan VP SOD Et. It has a tight single inlet with a high-efficiency wheel, TURA blades and a motor. This fan can be used for the industrial ventilation process. This is a new generation draught fan that offers cost and energy-saving benefits. 

High demand from applications :

Nowadays manufacturers are producing new products based on the interests of the customers. Based on the application of the draught fan are categorized into various types like cooling towers, in coal mines, removal of dust in industries, ventilation in power plants, and buildings. An increase in thermal power plants like NTPC, JINDAL power projects, and others have increased the draught fans market. Draught fans purpose in these industries is to remove the nitrogenous toxic gases and other air contaminants that are generated during the production process. Thus, it acts as an industrial ventilator. It also acts as an industrial drying fan in the food processing and automobile industries. It helps in the drying of the manufactured product that helps in improving the quality of the product. Further, a draught fan is used in material handling. For example, in power plants, the crushed coal and air mixture is transferred to furnace through these draught fans. In the ships, the demand for these draught fans has also increased as it is used in the combustion chamber by throwing out the hot gases outside and also adding air inside to balance the temperature and maintain fresh air inside. Thus the draught fan is used effectively in these industries and is energy efficient. Further, this fan is the basic mechanical device that should be implemented for the smooth running of industries.

Key benefits of the report:

• This study presents the analytical depiction of the draught fan market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the draught fan market share.
• The current market is quantitatively analyzed to highlight the draught fan market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in the coming years.  

 Draught Fan Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights