Agricultural Ventilation Fans Market Research Report Detailed Analysis On The Basis Of Application, Latest Trend, Region And Growth Forecast to 2030

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.

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When application is taken into consideration, the market is classified into equine, dairy/livestock, and greenhouse. Amongst these, the dairy/livestock category is predicted to dominate the market throughout the forecast period. As per the United Nations’ Food and Agriculture Organization (FAO), the total milk output across the globe was around 843 million tons in 2018, primarily because of the surge in production in the European Union (EU), Argentina, the U.S., Turkey, and India.

This was because of the improvements and advancements in the milk collection process and the health and hygiene of livestock with proper ventilation and temperature control. Geographically, the Asia-Pacific (APAC) region will be the fastest-growing region in the agricultural ventilation fans market during the forecast period, as per the estimates of the market research company, P&S Intelligence. This is credited to the presence of several populous countries, such as India and China, in the region and the subsequent rise in the requirement for food and dairy items in the region.

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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.

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.