The axial fans market is projected to grow from US$ 2.61 billion in 2023 to US$ 3.93 billion by 2031; it is expected to expand at a CAGR of 5.2% from 2023 to 2031. Technological advancement is anticipated to be a key trend in the market.
Axial fans are ideal for heating, ventilation, and air conditioning systems. Several properties define axial fans. Examples of these qualities are a large diameter, a narrow radial breadth, and a low-profile design. These specific traits contribute to the high performance of axial flow fans. Axial flow fans are also widely utilized in the industry. Axial fans can extract air from rotary filters and return air trenches. They can also be used as exhaust. Due to all these advantages, the demand for axial fans is expected to grow during the forecast period.
An axial fan is a fan that allows gas to flow through it in an axial direction, parallel to the shaft around which the blades move. The flow is axial at the entrance and exit. The fan is meant to produce a pressure difference, and hence force, which causes a flow through the fan. Axial fans are ideal for generating high-volume airflow in low-pressure systems. Axial fans are available in several sizes and can be put in either a big mounting plate or a small radius. Short radii are the most predominant and result in laminar flow, whereas standing, wall mounting, roof mounting and other methods provide smooth laminar flow.
Industrial axial fans are mechanical devices that transport air or other gases in several industrial applications. They operate by spinning a central rotor or impeller at high speeds, resulting in a flow of air or gas directed through a series of vanes or blades. This flow can be used to ventilate, cool, or circulate air in a variety of industrial environments, depending on the application's specific needs. Axial fans are popular in a variety of applications. They are extremely efficient and save power. They also make less noise than centrifugal fans. Axial fan blades can be swept or inclined. Axial fans can be tailored to meet a range of needs. Thus, the demand for axial fans for industrial applications is expected to grow during the forecast period.
Key market participants are focusing on new product development and technological advancement. This is expected to create lucrative growth prospects for the axial fan market growth during the forecast period. For instance, in September 2023, Mainstream, a well-known manufacturer of Air Handling Unit fans and coils, announced the release of its new IntelliCUBE Axial Fans. Mainstream is strengthening its position as an HVAC industry leader, carrying on the tradition of a three-generation family business. Further, in September 2022, ebm-papst launched a novel axial fan for railway applications with high back pressure.
The key segments that contributed to the derivation of the axial fans market analysis are speed, size, application, type, and end user.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
Asia Pacific is expected to hold a prominent share of the axial fan market throughout the forecast period. This growth may be attributed to the increasing demand from industrial and commercial applications. North America is also expected to hold a significant share of the market in 2023. The rapid pace of technological developments and supporting government regulations are expected to boost the demand for axial fans from the North American region during the forecast period.
The regional trends and factors influencing the Axial Fans Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Axial Fans Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2.61 Billion |
| Market Size by 2031 | US$ 3.93 Billion |
| Global CAGR (2023 - 2031) | 5.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Speed
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Axial Fans Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Axial Fans Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The axial fans market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Axial Fans are listed below:
The axial fans market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Axial Fans Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
The Axial Fans market size is projected to reach US$ 3.93 billion by 2031.
Asia Pacific is expected to dominate the axial fans market with the highest market share in 2023.
Technological advancement to play a significant role in the global axial fans market in the coming years.
The leading players operating in the axial fans market are Rosenberg Ventilatoren GmbH, Sofasco Fans, Sunonwealth Electric Machine Industry Co., Ltd., Ziehl-Abegg, Omron Corporation, Hidria, Fulltech Electric Co., Ltd., Howden Group, and Cooltron Industrial Supply, Inc.
Increasing demand for industrial applications and increasing investment in cooling towers are the major factors driving the axial fans market.
The global axial fans market is expected to grow at a CAGR of 5.2% during the forecast period 2024 - 2031.