High Speed Blower Market size is anticipated to exceed USD 900 million by 2032, according to the recent research report by Global Market Insights Inc.
A robust increase in oil and gas exploration activities across the globe will influence industry trends. The oil and gas business was significantly impacted by the Russia-Ukraine war which consequently led to a rise in crude oil prices. Uncertainties around the supply of crude oil and related petroleum goods due to the crisis led to new initiatives to reduce dependency on crude oil imports from other nations. New investments in the exploration of unconventional resources and the commencement of drilling activities by energy companies worldwide should drive product penetration.
Emerging use of airfoil bearing technology in high speed blowers
The high speed blower market revenue from the airfoil bearings technology segment is expected to reach USD 500 Million by 2032. Airfoil bearings have become a popular choice for plants that undertake consistent operations and have lesser start-stop cycles. The technology supports a completely contactless transmission in the operation of blowers. It eliminates mechanical losses as well as the use of grease or oil. New product innovations and developments by leading high speed blower manufacturers will influence technology adoption.
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Growing significance of high speed blowers in the oil and gas market
The industry size from the oil & gas sector is projected to record 3% CAGR from 2023 to 2032. These devices are widely used in the sector to increase aeration in hydraulic power plants and for cooling pumps. It is also used for ventilation in refining furnaces by combustion of air supply for cracking and reforming processes.
These blowers are wide utilized for temperature control processes in air-cooled heat exchangers, which aids to lower the water temperature in the petrochemical industry. According to the International Energy Agency (IEA), Russia, Norway, and even the United States are producing more than 190,000 barrels per day since 2018. It is expected that over the years this will help boost the turbo blowers market growth.
Browse key industry insights spread across 200 pages with 150 market data tables & 30 figures & charts from the report, “High Speed Blower Market Size, By Technology (Airfoil Bearings, Magnetic Bearings), By End-user (Wastewater Treatment, Oil & Gas, Chemical, Marine) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 – 2032”, in detail along with the table of contents:
Substantial investments in wastewater facilities in Latin America
The Latin America high speed blower market is predicted to reach USD 60 million by 2032. This growth can be attributed to large investments made to improve wastewater facilities in the region. For instance, electric utility company, Peru Utilities has purchased an outdated wastewater facility from the U.S. Air Force. The project entails redesigning the plant and making several additional architectural alterations. Apart from wastewater, the oil and gas industry has also grown in recent years. As per estimates, crude oil output has surged in Brazil since 1985.
New product innovations by key business players
Some of the leading high speed blower market 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 geographical presence by creating strategic partnerships, collaborations, new product developments, and more.