Selbyville, Delaware, Dec. 15, 2022 (GLOBE NEWSWIRE) —
High Speed Blower Market is expected to exceed a valuation of USD 900 million by 2032, the recent research report by Global Market Insights Inc.
A sharp increase in oil and gas exploration activities around the world will influence industry trends. The oil and gas business was significantly affected by the war between Russia and Ukraine, which led to an increase in crude oil prices. Uncertainties surrounding the supply of crude oil and related petroleum products caused by the crisis led to new initiatives to reduce dependence on crude oil imports from other countries. New investments in the exploration of unconventional resources and the start of drilling activities by energy companies around the world should boost product penetration.
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Emerging use of aerodynamic bearing technology in high speed fans
The market revenue for high-speed blowers from the aerodynamic bearing technology segment is expected to reach $500 million by 2032. Airfoil bearings have become a popular choice for factories that run consistent operations and have fewer start-stop cycles. The technology supports completely contactless transmission in fan operation. It eliminates mechanical losses and the use of grease or oil. New product innovations and developments by leading manufacturers of high speed blowers will influence the adoption of technology.
Growing importance of high-speed blowers in the oil and gas market
Industry size in the oil and gas sector is projected to reach a CAGR of 3% between 2023 and 2032. These devices are widely used in the industry to improve aeration in hydropower plants and for cooling pumps. It is also used for ventilation in refinery furnaces by combustion of air feed for cracking and reforming processes.
These blowers are widely used for temperature control processes in air-cooled heat exchangers, helping to lower the water temperature in the petrochemical industry. According to the International Energy Agency (IEA), Russia, Norway and even the United States have been producing more than 190,000 barrels per day since 2018. This is expected to drive the growth of the turbo blower market over the years.
Significant investments in waste water installations in Latin America
The Latin American market for high speed blowers is expected to reach USD 60 million by 2032. This growth can be attributed to major investments to improve the wastewater facilities in the region. Electricity company Peru Utilities, for example, bought an outdated wastewater supply from the US Air Force. The project involves redesigning the factory and making several additional architectural changes. In addition to wastewater, the oil and gas industry has also grown in recent years. According to estimates, crude oil production in Brazil has increased dramatically since 1985.
New product innovations by key business players
Some of the leading high speed blower manufacturers are Atlas Copco AB, Xylem, Inc., Nanjing Magnetic Valley Technology Co., Ltd., Continental Industries Esurging (Tianjin) Technology Co., Ltd., Spencer Turbine Company, Zi-Argus Ltd. ., APG Neuros, Inc., Aerzen Turbo Co., Ltd., United Blower, Inc., Gardner Denver, Inc. and Atlantic Blower. Companies are working to create a strong geographic presence by entering into strategic partnerships, collaborations, new product developments and more.
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Partial table of contents (ToC) of the report:
Chapter 2 Summary
2.1 High Speed Blowers Market 360º Synopsis, 2018 – 2032
2.1.1 Business Trends
2.1.2 Technology through end-user trends
2.1.3 End Use Trends
2.1.4 Regional trends
Chapter 3 High Speed Blowers Industry Insights
3.1 Industry Segmentation
3.2 COVID-19 impact on the industry landscape
3.3 Analysis of the industry ecosystem
3.4 Industry Impact Forces
3.4.1 Growth engines
22.214.171.124 Increasing awareness for hygienic water consumption
126.96.36.199 Rapid increase in oil and gas exploration
3.4.2 Pitfalls and challenges in the industry
188.8.131.52 High Technology Awards
3.5 Analysis growth potential, 2022
3.6 Technology Trends
3.7 Regulatory landscape
3.8 Porter’s analysis
3.9 PESTEL analysis
3.10 Price Developments
3.11 Impact of COVID-19 on the packaging sector
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, USA, is a global market research and advisory services provider, providing syndicated and customized research reports along with growth advisory services. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data designed and presented specifically to support strategic decision making. These comprehensive reports are designed through a proprietary research methodology and are available for key industries such as chemistry, advanced materials, technology, renewable energy and biotechnology.