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Fan industry shows signs of slowing down in inertial growth market
At the sixth general meeting of the China General Machinery Industry Association's Fan Branch, held in Dalian from July 5th to 8th, it was revealed that the fan industry has faced challenges due to national macroeconomic control and other factors. The market saw a decline in orders during the first five months of this year. However, the industry remains resilient, driven by its critical role in supporting key national projects such as oil, chemical, coal, metallurgy, power, mining, textiles, environmental protection, and scientific research. This has allowed the sector to maintain a momentum of growth.
According to data from the Fan Branch, from January to May this year, the total industrial output value reached 97.73866 billion yuan, up 11.45% year-on-year. Industrial sales output was 85.17458 billion yuan, an increase of 11%, while export delivery value rose to 23.99 billion yuan, reflecting a 11% year-on-year growth. The industry’s added value stood at 30.64458 billion yuan, growing by 20%, and main business income reached 83.42605 billion yuan, up 15.69%. Total profit amounted to 53.6137 billion yuan, an increase of 9%. However, cumulative order volume dropped by 2% compared to the same period last year.
From the data, several trends emerged in the fan industry’s performance over the first five months of the year. First, the industry continued to show inertia-driven growth. Despite macroeconomic pressures, key enterprises maintained a 11% year-on-year increase in output, largely due to the wide application of fans across various sectors and the steady economic growth in China. Additionally, many manufacturers had carried over contracts from the previous year, contributing to sustained production and growth.
However, the industry still faces uneven development. While some companies like Shengu, Shaanxi Drum, and Long Drum achieved moderate growth—some even reaching 68.8%—others experienced declines. This highlights the disparity among firms within the sector.
Second, there was a significant increase in finished product inventory, with a sales ratio of only 87.1%. This was attributed to companies balancing production to avoid heavy deliveries later in the year, delayed payments from users, and project cancellations due to policy changes. These issues are expected to ease as the second half of the year progresses.
Third, the market showed a declining trend in orders, with key enterprises reporting a slight drop compared to the same period last year. Medium-sized companies were particularly affected, with some experiencing a sharp reduction in orders—down to as low as 20% of the previous year’s level. In contrast, large manufacturers like Shengu, Shaanxi Drum, and Zhongtong maintained stable order volumes.
Fourth, the competitiveness of products needs improvement. New product output value fell by 12.17%, contrasting with the overall 11.45% increase in output. This indicates a pressing need for enhanced technological innovation. Although exports increased by 20% year-on-year, this was partly due to a low base in the previous year. Overall, exports remain low, accounting for only 2.4% of total output.
Fifth, the industry is facing oversupply in low-end products, while demand for specialized fans is rising. Fans are divided into two categories: mass-produced small and medium fans, and high-tech turbo compressors, centrifugal fans, and Roots blowers. While demand for the former is expected to grow, it will likely remain oversupplied. Meanwhile, special-purpose fans—such as corrosion-resistant, high-temperature, and explosion-proof models—are seeing increasing demand, especially those made from materials like stainless steel, glass fiber, and titanium.
Overall, the fan industry maintained a positive trajectory in the first five months of the year, with modest growth and improved economic performance. Looking ahead, it is expected that the industry will continue to grow steadily in the second half of the year, with improvements in major economic indicators. 2006 is anticipated to be another year of healthy growth for the fan industry.