The global centrifugal fan wheel market size was USD 6.6 Billion in 2022 and is expected to reach USD 9.75 Billion in 2032, and register a revenue CAGR of 5.3% during the forecast period. Rising demand for centrifugal fan wheels across numerous industries, including Heating, Ventilation, and Air Conditioning (HVAC), manufacturing, and mining, among others, is one aspect that is responsible for the market revenue growth. Centrifugal fan wheels with cutting-edge technology are being developed by manufacturers in response to the demand for energy- and cost-efficient air handling systems.

The need for centrifugal fan wheels with improved efficiency and reduced noise levels is one of the major factors driving market revenue growth. With this, manufacturers have been consistently creating innovative and effective fan wheels that provide improved performance, greater durability, and lower maintenance requirements. For instance, in March 2021, Delta Electronics introduced a new line of high-performance centrifugal fan wheels that are quieter and more efficient than earlier generations.

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Rising demand for centrifugal fan wheels in HVAC applications, notably in commercial and residential buildings, is another factor driving the market revenue growth. Modern centrifugal fan wheels, which are intended to enhance air circulation and energy efficiency, are in high demand due to the requirement for energy-efficient HVAC systems. Moreover, the need for centrifugal fan wheels in the building and construction industry is being driven by expanding construction activities throughout various regions, particularly in developing countries.

Also, the demand for centrifugal fan wheels with greater corrosion and wear-and-tear resistance is driving market revenue growth. With this, producers have created cutting-edge materials and coating techniques to increase the toughness and longevity of centrifugal fan wheels. For instance, the Greenheck Group introduced a new line of centrifugal fan wheels in February 2022 that provide greater resilience to corrosion and wear and tear than conventional fan wheels.

In addition, the need for energy-efficient centrifugal fan wheels is being driven by government legislation addressing environmental degradation and energy saving. As an illustration, the Department of Energy (DOE) in the United States has put laws in place regarding energy efficiency criteria for commercial and industrial fans and blowers. With this, producers have created energy-efficient centrifugal fan wheels that are less expensive to operate and meet the DOE's energy efficiency guidelines.

Competitive Landscape:

• ABB Ltd.
• Siemens AG
• Howden Group Ltd.
• Alfa Laval AB
• Sulzer Ltd.
• KSB SE & Co. KGaA
• Chicago Blower Corporation
• PennBarry
• Greenheck Fan Corporation
• Continental Blower LLC

The global market is further segmented into type and application:

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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