Market Research axial fan 3/5

Overview of the regional outlook of the Axial Fans Market:

 Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA. 

Market Insight – Axial Fans Market

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.

Speed Segment Insights

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.  

Size Segment Insights

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.