Report : Axial Fans Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Coverage by Speed (Low Speed, Medium Speed, and High Speed), Size (Diameter (130-250) MM, Diameter (250-910) MM, Diameter (910-1500) MM, and Diameter Above 1500 MM), Application (Radiator, Cooling & Refrigeration, Ventilation, and Other), Type (AC, DC, and EC), End User (Commercial, Industrial, and Residential)
The “Global Axial Fans Market to 2027 - Analysis and Forecasts by Speed (Low Speed, Medium Speed, and High Speed), Size (Diameter Below 250 MM, Diameter (250-910) MM, Diameter (910-1500) MM, and Diameter Above 1500 MM), Application (Radiator, Cooling & Refrigeration, Ventilation, and Other), Type (AC, DC, and EC), End User (Commercial, Industrial, and Residential) and Geography” The scope of study involves understanding on the factors responsible for this growth of axial fans market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant axial fans players in the market and their key developments.
The global axial fans market was valued at US$ 4,973.5 Mn in 2018 and is projected to be worth US$ 7,069.9 Mn by 2027, growing at a CAGR of 4.0% during the forecast period. In 2018, APAC accounted for 24.2% of market share in the global axial fans market and it is estimated to grow at a highest CAGR of 4.8% during the forecast period. Countries such as India, China, Japan, Australia among others have developed a robust industrial base and experienced a considerable shift in automotive, manufacturing, food & beverages, construction, and other industrial bases. Axial fans are considered to be highly energy-efficient systems, which ensures reduction in cost and energy usage. The market for axial fans is strongly governed by the growth of defense, automotive, manufacturing, entertainment, construction, and other end-user industries in aforementioned countries. These industries deploy axial fans in several applications, such as condensers, industrial and commercial air conditioners, ventilation systems, motor/engine cooling systems, and refrigeration systems, to move the air axially. These industries in APAC are rapidly adopting the innovation accelerators, which include advanced technologies and processes.
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 2018. The common use of all-purpose axial fans in baking and cooking purposes has made them a common ingredient in households, hotels, restaurants, and food processing plants. All-purpose axial fan is a versatile and highly functional equipment used in the food industry to prepare a broad range of food products such as bread, cakes, bun, hot dogs, cookies, and other savories. Growing demand from these end user industries has boosted the sales of AC axials fans in recent years.
The global axial fans market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East and Africa, and South America. Europe has accounted for the largest share of the global axial fans market in 2018, followed by APAC and North America. Some of the major players in the axial fans market include are Cooltron Industrial Supply, Inc., ebm-papst, Fulltech Electric Co., Ltd, Hidria, Howden Group, OMRON Corporation, Oriental Motor USA Corp., Pelonis Technologies, Inc., Rosenberg Ventilatoren GmbH, Sofasco Fans, Sunonwealth Electric Machine Industry Co., Ltd and ZIEHL-ABEGG, among others.
Europe dominated the axial fans market in 2018 with a share of 36.9% and is expected to continue its dominance by 2027 accounting for 36.1% of revenue share with a CAGR of 3.8% during 2019-2027.
The report segments the global axial fans market as follows:
Global Axial Fans Market - by Speed
Global Axial Fans Market - by Size
Global Axial Fans Market - by Application
Global Axial Fans Market - by Type
Global Axial Fans Market - End-user
Global Axial Fans Market - By Geography
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