Publication Month: Apr 2021 | Report Code: TIPRE00007895 | No. of Pages: 132 | Category: Electronics and Semiconductor | Status: Published
The global axial fans market is segmented into five major regions—North America, Europe, APAC, MEA, and SAM. One of the key factors driving the growth of the axial fans market is its wide range of applications in industries such as food & beverages, mining, aerospace, electronics, and chemicals. Industrial axial fans are designed to create a large volume of airflow at low pressure. Cooling or air-conditioning is one of the major applications where these types of fans are used. Axial fans move hot air from one location to another to cool a room or an entire building. These types of fans are also used in refrigeration systems, particularly for condenser cooling. According to industrial experts, axial fans are reliable for general purpose applications, such as moving air from one place to another. This is mainly due to the high volume of airflow created at low pressure. Therefore, these fans are suitable for cooling confined spaces, such as a computer, a room, or an entire office. These fans make air-conditioners energy efficient and enhance their durability. Vending and refreshment industries also make use of these fans in most of their machines to keep their products cool and fresh. Axial fans are used in internal cooling systems of computers and other devices.
The outbreak of COVID-19 has created significant disruptions in primary industries such as food & beverage, energy & power, electronics & semiconductor, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the global axial fans market as they are the major supply and demand sources for axial fans products and solutions. Also, applications such as vending machines, snow making machines, and HVAC systems, where axial fans play a crucial role have witnessed strategic decline in the adoption of the products, thus has created a negative impact in the market growth. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted manufacturing, supply, and sales of various electronic components that are required for the manufacturing of axial fans. The estimated impact of COVID-19 outbreak on the growth of global axial fans market in various countries/regions is described below.
The developed and developing Asian countries such as China, India, South Korea, and Australia provide a huge market growth perspective for many small and large players operating in the axial fans market. The rapid industrial development in these countries is projected to boost market growth during the forecast period. Axial fans have applications in a wide range of industries, such as cement, paper & wood, pharmaceuticals, steel, and food. Axial fans are used in these industries for handling critical processes that require drying, ventilation, and fume & hot air exhaust, among others. These types of fans are mainly applied in equipment dedicated to exchanging heat through environmental air. Cooling towers, air-cooled condensers, and air-cooled heat exchangers are other applications. The low cost of manufacturing in India, China, and South Korea, coupled with the availability of cheap labor, is attracting various industry players to set their manufacturing bases in these countries. Further, limited government regulations for manufacturers in APAC countries is positively influence the growth of the axial fans market in this region.
Based on speed, the market has been segmented into low speed, medium speed, and high speed. The medium speed segment accounted for the largest share of the axial fans market in 2020. Moreover, the high-speed segment is projected to grow at the fastest pace during the forecast period. The rotational speed of an axial fan is measured in terms of revolutions per minute (rpm). The speed of rotation is the number of revolutions the fan impeller has to run in order to meet the performance requirements and is one of the significant factors determining the demand for axial fans.
Based on size, the axial fans market has been segmented into diameter below 250 mm, diameter (250–910) mm, diameter (910–1500) mm, diameter above 1500 mm. The diameter (250–910) mm segment accounted for the largest share of the axial fans market in 2018. Moreover, the diameter (910–1500) mm segment is projected to grow at the fastest pace during the forecast period. The demand for axial fans with diameter (250–910) mm are used in many large- and small-scale industries, such as food & beverage, chemical, and electronics, among others. Moreover, these types of fans are extensively used in residential and commercial applications for ventilation and cooling & refrigeration.
Based on application, the axial fans market has been segmented into radiator, cooling & refrigeration, ventilation, and others. The cooling & refrigeration segment accounted for the largest share of the axial fans market in 2020. Moreover, the ventilation segment is projected to grow at the fastest pace during the forecast period.
Based on type, the axial fans market has been segmented into AC, DC, and EC. The AC axial fans segment accounted for the largest share of the axial fans market in 2020. Moreover, the EC axial fans segment is projected to grow at the fastest pace during the forecast period.
Based on end user, the axial fans market has been segmented into commercial, industrial, and residential. The industrial segment accounted for the largest share of the axial fans market in 2018. Moreover, the residential segment is projected to grow at the fastest pace during the forecast period. Axial fans are well suited for high flow usage and for low air resistance conditions.
|Market Size Value in||US$ 2,301.4 Million in 2020|
|Market Size Value by||US$ 3,219.8 Million by 2028|
|Growth rate||CAGR of 4.3% from 2021-2028|
|No. of Pages||132|
|No. of Tables||218|
|No. of Charts & Figures||108|
|Historical data available||Yes|
|Segments covered||Coverage by Speed , Application , Type , End User|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
The global Axial Fans market has been segmented as follows:
The List of Companies - Axial Fans Market