Europe Axial Fans Market
European comprises several developing economies such as Germany, France, UK, and Italy, among others. Europe is a well-established and mature market for axial fans. The use of these fans is closely related to various industries, such as automotive, construction, manufacturing and ventilation and other sectors. Therefore, the growth of the axial fans market is strongly linked to growth of these industries in European economy. Europe is considered to be one of the largest markets for fans across the world. The production and use of axial fans have substantially increased over the years with the growth of the automotive, construction, manufacturing, and food & beverages industries. To meet the rising demand, the countries in this region have also escalated the import of these fans from other regions. The rise in industrial spending has been instrumental in the increase in demand for these fans. Moreover, growth in focus towards economic growth, coupled with surge in demand for industrial goods, is further fueling the demand for axial AC fans. The automotive sector contributes 6.8% to the average GDP of the region. The automotive industry supports the growth of the economy by assisting the supply chain that results in the creation of a diverse array of business opportunities and services for OEMs. The growth of the automotive industry further boosts the developments in the axial fans in Europe. Moreover, the European automotive industry successfully delivers the products manufactured in this region to the market, generating a trade surplus of ~US$ 101 Mn (€90.3 Mn). Automotive is considered to be a crucial sector in the EU as it significantly contributes to the country’s GDP as well as employs millions of people in the region. Apart from the automotive—construction, manufacturing, etc., are the other sectors increasingly demanding axial AC fans. The market predominantly comprises small and medium enterprises (SMEs), focused on enhancing their opportunities by generating specialized form of products. Therefore, the increase in focus toward generating specialized form of products is expected to lead to the growth of ventilation market, which in turn, would lead to increase in demand for axial AC fans. Germany is one of the largest economies in Western Europe and a leading car manufacturing country that accounts for the largest share of the car manufacturing, in terms of shipment, and is expected to continue its dominance during the forecast period. However, the growth of market for axial fans is hampered by Brexit and the EU economies, which had negative impact on the sales of such equipment in this region.
In Europe, Russia is the hardest-hit country by the COVID-19 outbreak, followed by the UK and others. Majority of European countries are expected to suffer an economic hit due to a lack of revenue from various industries, as these countries record the highest number of COVID-19 cases and deaths in the past year. Due to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to face an economic slowdown in 2020 and most likely in 2021. European countries represent a major market for axial fans owing to the stringent safety regulations established by government authorities for keeping noise level reduced in industrial environment and provide fresh air. This aspect will create lucrative opportunities for the development of low noise axial fans for industrial applications. However, the supply chain disruptions and demand decline from various end-user industries of axial fans market have led to a decline in revenues of market players operating in the European region.
Strategic insights for the Europe Axial Fans provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1843.47 Million |
| Market Size by 2028 | US$ 2457.93 Million |
| Global CAGR (2021 - 2028) | 3.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Speed
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Axial Fans refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The axial fans market in Europe is expected to grow from US$ 1843.47 million in 2021 to US$ 2457.93 million by 2028; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028. Initiation of low power consumption axial fans. Key players in the axial fans market are focusing on developing new products and introducing innovative technologies. Manufacturers are focusing on diversification and expansion of applications of axial fans by investing heavily in R&D activities. The high-power consumption of axial fans leads to high costs. Therefore, manufacturers are introducing new low power consuming products in the market owing to which high demand for low power consumption axial fans has been observed over the past few years. For instance, in May 2018, Mechatronics announced a new and expanded line of low power consumption axial fans, adding new sizes, new speed control and alarm output options, and additional levels of environmental protection. Low power axial fans are ideal for applications where only power input is available. Mechatronics’ low power fans are electronically commutated, providing the efficiency of a DC fan with the simplicity of connecting to power supply. Available with voltage input of 100VAC to 240VAC, a single model can be used in products for both 115VAC and 230VAC applications. Applications of low power fan include servers, networking equipment, power supplies, medical & dental equipment, battery charging systems, material processing equipment, food service equipment, and lighting. Low power axial fans of Mechatronics provide solutions where low total cost, design flexibility, quick turn-around, and excellent customer service are required. Furthermore, these products reduce power consumption as much as 70% lower than that of standard axial fan models. Similarly, ebmpast is another company offering axials fans with advanced technologies. This is bolstering the growth of the axial fans market
In terms of speed type, the medium speed segment accounted for the largest share of the Europe Axial Fans Market in 2020. In terms of Application type, the Cooling & Refrigeration segment held a larger market share of the axial fans market in 2020
A few major primary and secondary sources referred to for preparing this report on the Europe Axial Fans Market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report Rosenberg Ventilatoren GmbH
• Low Speed
• Medium Speed
• High Speed
• Diameter Below 250 MM
• Diameter (250-910) MM
• Diameter (910-1500) MM
• Diameter Above 1500 MM
• Radiator
• Cooling & Refrigeration
• Ventilation
• Other
• AC
• DC
• EC
• Commercial
• Industrial
• Residential
• US
• Canada
• Mexico
The Europe Axial Fans Market is valued at US$ 1843.47 Million in 2021, it is projected to reach US$ 2457.93 Million by 2028.
As per our report Europe Axial Fans Market, the market size is valued at US$ 1843.47 Million in 2021, projecting it to reach US$ 2457.93 Million by 2028. This translates to a CAGR of approximately 3.9% during the forecast period.
The Europe Axial Fans Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Axial Fans Market report:
The Europe Axial Fans Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Axial Fans Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Axial Fans Market value chain can benefit from the information contained in a comprehensive market report.
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