The global agricultural ventilation fans market generated ~$600 million revenue in 2020 and it is expected to exhibit huge expansion during 2021–2030 (forecast period). The burgeoning requirement for exotic fruits, flowers, and vegetables, increasing indoor farming practices, and soaring use of urban agriculture practices, owing to the mushrooming demand for food items and changing climatic conditions, are the major factors driving the expansion of the market across the globe.
With surging population and rapid urbanization, the availability of fertile land is falling sharply, thereby fueling the requirement for urban farming methods that can enable the efficient and judicious use of the available land. Additionally, urban agriculture massively increases food security, as large volumes of organic food items can be grown easily. As ventilation fans are used for providing a controlled environment, which is required in indoor farming processes, the growing popularity of urban farming practices is pushing up the requirement for agricultural ventilation fans.
Apart from the aforementioned factor, the increasing production of genetically modified (GM) crops is also driving the growth of the agricultural ventilation fans market. Depending on product, the market is divided into duct fans, portable fans, exhaust fans, and circulation fans. Amongst these, the exhaust fans category is predicted to exhibit the fastest growth in the market throughout the forecast period. These fans are used for eliminating exhalations of the livestock and odor from the interior of an enclosure.
Furthermore, the surging use of urban agriculture practices, owing to the changing climatic conditions, will also propel the market growth in the region in the coming years. In recent years, the players operating in the agricultural ventilation fans market have actively focused on collaborations and partnerships in order to penetrate untapped markets. For example, QC Supply launched a partnership with Advanced Feeding Systems in March 2018 for strengthening its distribution channel by serving customers in four new areas in the U.S. (Indiana, Illinois, Tennessee, and Kentucky).
Hence, it is safe to say that the market will progress rapidly in the coming years, mainly because of the growing adoption of urban agriculture practices and production of GM crops across the world.
