The Department of Primary Industries and Regional Development of the Government of Western Australia states that genetically modified crops were produced on 189.8 million hectares of land in 2017 worldwide. The U.S. Food and Drug Administration (USFDA) estimates that 94% of all soybeans planted, 94% of all cotton planted, and 92% of all corn planted in the U.S. was genetically modified organism (GMO) variant in 2018. The increasing production of GM crops, owing to the high-profit margins associated with them, will result in the large-scale deployment of agricultural ventilation fans in the foreseeable future.
In addition, the surging public focus on urban agriculture practices, owing to the decreasing availability of large areas of arable land, will drive the agricultural ventilation fans market growth during the forecast years (2021–2030). According to P&S Intelligence, the market generated $600 million revenue in 2020. The scarcity of large areas of arable land can be primarily owed to the booming population and accelerating urbanization rate. As per the World Bank, the global urban population stood at 4.28 billion in 2019, and it reached 4.358 billion in 2020.
During the last few years, the agrarian community preferred circulation fans over portable fans, duct fans, and exhaust fans. The large-scale deployment of circulation fans can be credited to the cooling and ventilation offered by them in livestock barns. These fans are also used to maintain the temperature in greenhouses. In the coming years, exhaust fans will also be used in large quantities as they serve the quintessential purpose of eliminating odor from livestock barns.
Browse detailed report on Agricultural Ventilation Fans Market Growth Analysis, Opportunities, Developments and Forecast to 2030
The application segment of the agricultural ventilation fans market is classified into dairy/livestock, greenhouse, equine, and others. Under this segment, the dairy/livestock category is projected to showcase the fastest growth during the forecast period, because exhaust and ventilation fans help remove exhalations and the odor of the livestock. Proper ventilation helps improve the overall health of animals. Owing to this reason, the category is also expected to generate the highest revenue in the forecast years.
Currently, the producers of agricultural ventilation fans are engaging in product launches to meet the needs of the farming community. For example, American Coolair Corp. created a new fan with a high-density polyethylene (HDPE) cone. As HDPE is a high-strength thermoplastic polymer, the AMC FGBC52-PC is a cost-effective option for ventilating agricultural buildings having an interior wall shutter. Other companies introducing new variants of such products are AirMax Fans, Bigass Fans (Delta T LLC), ebm-papst, Multi-Wing America Inc., New York Blower Company, and QC Supply.
Globally, the Asia-Pacific region is expected to register the fastest growth in the agricultural ventilation fans market throughout the forecast period. This will be on account of the soaring per capita income, rising need for transgenic crops, and burgeoning food demand, owing to the booming population, in the region. The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) forecasts that the population of the APAC region will surge from 4,614,465,000 in mid-2019 to 5,215,489,000 by mid-2050.
Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/agricultural-ventilation-fan-market/report-sample
Therefore, the rising yield of GM crops and the increasing shift toward urban farming practices will create a massive requirement for agricultural ventilation fans in the upcoming years.
Agricultural Ventilation Fans Market Size Breakdown by Segments
By Product
- Circulation Fans
- Duct Fans
- Exhaust Fans
- Portable Fans
- Others
By Application
- Dairy/Livestock
- Equine
- Greenhouse
- Others
By Region
- North America Agricultural Ventilation Fans Market
- By product
- By application
- By country – U.S. and Canada
- Europe Agricultural Ventilation Fans Market
- By product
- By application
- By country – Germany, France, U.K., Italy, Spain, and Rest of Europe
- Asia-Pacific Agricultural Ventilation Fans Market
- By product
- By application
- By country – Japan, China, India, Australia, South Korea, and Rest of APAC
- Latin America Agricultural Ventilation Fans Market
- By product
- By application
- By country – Brazil, Mexico, and Rest of LATAM
- Middle East and Africa Agricultural Ventilation Fans Market
- By product
- By application
- By country – Saudi Arabia, South Africa, and Rest of MEA
Browse More Reports
Agricultural Adjuvants Market - The agricultural adjuvants market growth is driven by surging investments in the agriculture industry and increasing demand for agrochemicals. These factors are expected to drive the market at a CAGR of 5.5% during the forecast period of 2020–2030.
Agricultural Micronutrients Market - Geographically, the agricultural micronutrients market was dominated by the Asia-Pacific region during the historical period, and the region is further projected to grow at the fastest pace during the forecast period.
Media Contact
Company Name: P&S Intelligence
Contact Person: Abhishek
Email: Send Email
Phone: +918887787886
Address:Noida Sector 2
City: Noida
State: UP
Country: India
Website: https://www.psmarketresearch.com/market-analysis/agricultural-ventilation-fan-market
