Axial Fans Market Size, Share, Analysis, Trends, Growth Report, 2030

Axial Fans Industry Prospective:

The global axial fans market size was evaluated at $2490 million in 2022 and is slated to hit $3460 million by the end of 2030 with a CAGR of nearly 4.18% between 2023 and 2030.

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Axial Fans Market: Overview

Axial fans can move huge volumes of air effectively. Furthermore, these products are usually used for cooling small as well as large spaces. Moreover, they can cool computer rooms as well as electronic devices. Apart from this, axial fans can also be utilized in HVAC operations, heat exchange units, condensers, and spot cooling in industrial systems. For the record, there are three kinds of axial fans, namely, vane-axial, propeller, and tube-axial. The axial fan performance depends on the size and number of blades. Reportedly, the product can produce pressure difference and finds lucrative applications in cooling towers and wind tunnels.

Key Insights

• As per the analysis shared by our research analyst, the global axial fans market is projected to expand annually at the annual growth rate of around 4.18% over the forecast timespan (2023-2030)
• In terms of revenue, the global axial fans market size was evaluated at nearly $2490 million in 2022 and is expected to reach $3460 million by 2030.
• The global axial fans market is anticipated to surge owing to the rising use of axial fans in food & beverages, electronics, mining, chemicals, and aerospace sectors.
• In terms of type, the AC segment is slated to register the highest CAGR over the analysis period.
• Based on the end-user, the industrial segment is anticipated to dominate the segment over the projected period.
• Region-wise, the North American axial fans industry is projected to register the fastest CAGR during the assessment timeline.

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Axial Fans Market: Growth Factors

A rise in the demand for products in various end-use sectors will drive the global market expansion

A surge in the use of axial fans in food & beverages, electronics, mining, chemicals, and aerospace sectors will steer the global axial fans market expansion. Furthermore, axial fans work to create low-pressure and high-volume airflows. Additionally, it finds use in confined cooling spaces such as workspaces and server rooms. Moreover, these products can be connected directly to DC power sources such as batteries and solar panels.

Apart from this, it finds extensive applications in vending machines owing to the cold air flow from axial fans. Moreover, breakthroughs in vending machine systems have encouraged the industry players to focus on manufacturing high-quality axial fans, thereby steering the expansion in the size of the global market. New product developments have contributed majorly to the growth of each sector and axial fans are one of them. For instance, in March 2020, ebm-papst Group, a key manufacturer of power-saving fans and motors across the globe, manufactured a new axial fan referred to as AxiEco Protect. Such moves will boost the global market growth trends.  

Axial Fans Market: Restraints

Fluctuations in raw material prices can inhibit global industry expansion by 2030

Volatility in the raw material costs can negatively hinder the expansion of the global axial fans industry. Disruptions in the supply of raw materials can further impede the expansion of the global industry. The easy availability of low-priced centrifugal fans has proved to be the best substitute for axial fans, thereby further impeding the growth of the global industry. High costs of raw materials such as steel & aluminum will retard the growth of the industry across the globe.

Axial Fans Market: Opportunities

An increase in the use of products in commercial & industrial applications will boost global market trends

Axial fans help the products in dealing with the issues of overheating and this can create new growth opportunities for the global axial fans market. Apart from this, the escalating need for power-efficient and reliable cooling systems will further enlarge the scope of growth of the global market. A rise in the number of industrial and commercial applications of products will further spearhead the global market expansion.

Axial Fans Market: Challenges

Huge deployment costs can prove to be a big challenge for the global industry during an estimated timeline

High installation & maintenance charges are projected to create a big challenge for the global axial fans industry. Low awareness about the benefits offered by the product can further hinder the product demand. Short lifespan due to wear & tear of the product components can pose a huge threat to the expansion of the industry across the globe.  

Axial Fans Market: Segmentation

The global axial fans market is sectored into type, end-user, and region.        

In type terms, the global axial fans market is segregated into AC, DC, and EC segments. Furthermore, the AC segment, which accumulated nearly 33.3% of the global market revenue share in 2022, is predicted to record the fastest CAGR in the ensuing years. The growth of the segment in the upcoming years can be owing to the large-scale use of AC axial fans in applications where the airflow is required to be in a particular direction. Furthermore, these products provide direct airflow along with providing a proficient way of cooling. Additionally, they find a spectrum of applications in electrical, residential, and commercial sectors.  

Based on the end-user, the global axial fans industry is divided into commercial, residential, and industrial segments. Moreover, the industrial segment, which accumulated a huge share of the global market in 2022, is anticipated to lead the global market expansion over the projected timeline. The segmental growth over the estimated timeline can be subject to humungous penetration of products in process cooling, HVAC, fume extraction, and various other industrial applications. In addition to this, non-corrosive features of the product will further drive its demand in the industrial segment. Additionally, these axial fans are used for heat removal and air movement in the industrial segment.

Axial Fans Market: Report Scope

Axial Fans Market: Regional Insights

Asia-Pacific is projected to retain its global market leadership over the projected timeline

Asia-Pacific, which accounted for 60% of the global axial fans market earnings in 2022, will be the dominating region over the assessment timespan. Moreover, the regional market growth can be credited to the rise in the demand for HVAC systems in densely populated countries such as China and India. In addition to this, a surge in the number of product applications in commercial and industrial applications will embellish the regional market trends.

Low production costs due to reduced prices of raw materials procurement and assembled parts have increased the purchase of axial fans due to their inexpensiveness in the sub-continent. Moreover, huge discounts offered on the products by manufacturers due to stiff competition along with a rise in the promotion & advertisement of products on media has opened new growth opportunities for the regional market.  

North American axial fans industry is set to register the fastest CAGR in the next couple of years subject to surging demand for power-efficient cooling solutions along with escalating demand for industrial automation in countries such as Canada and the U.S. Rise in the use of air-conditioning systems will prop up the scope of growth of the industry in the region. The presence of giant manufacturers in the region will scale up the regional industry trends.

Axial Fans Market: Competitive Space

The global axial fans market profiles key players such as:

• OMRON Corporation
• Nuaire
• ebmpapst
• Thermaco Inc.
• Oriental Motor
• Sofasco
• Pelonis Technologies
• Delta Fan
• Fulltech Electric
• ADDA Corporation
• Sunon
• Almeco
• Howden
• Halifax Fan
• Commonwealth Industrial Corporation
• WingFan Limited
• Hidria
• NMB Technologies
• COOLTRON Industrial Supply Inc.
• Horton Holdings Inc.
• Nidec Corporation.

The global axial fans market is segmented as follows:

By Type

• AC
• DC
• EC

By End-User

• Commercial
• Residential
• Industrial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa