North America Axial Fans Market
North America comprises developed economies such as the US and Canada and developing countries such as Mexico. The rapid pace of technological developments and supporting government regulations have transformed North America into the most promising market for the manufacturing sector. With the increasing demand from customers for high-quality products and services, companies are constantly focusing on innovations to serve their customers in the best possible way. Moreover, high individual spending capacities in North America has led to the expansion of several industries in this region, including food & beverages, healthcare, and manufacturing. The growth of these industries is directly impacting the demand for axial fans worldwide. Several domestic and international companies have a strong foothold in North America. The US is a major market for axial fans in this region, followed by Canada and Mexico. The region largely supports the growth of the axial fans market through effective manufacturing policies. Manufacturing is considered to be an important sector supporting the growth of the overall American economy. Despite the decline in the total output and diminishing growth of the sector recorded in the past few years, the sector contributes a lot of value to the power of the US economy. Also, every dollar spent toward the manufacturing sector subsequently adds to the growth of economy along with supporting the growth of other sectors, such as retailing, transportation, and business services. Axial fans change the direction of flow of gas; the gas flows in the axial direction parallel to the shaft about which the blades of fan rotate. Such fans rotate at variable rates to supply the equipment with fresh air, thereby maintaining optimum operating temperatures. Rising demands from various applications such as agriculture, air-conditioning, industrial, transportation, mobile, ventilation is driving the axial fans market of the North American region. Therefore, the expansion as well as the growth of construction and manufacturing industries is expected to lead to rise in demand for axial fans. The US is the largest consumer of axial fans, followed by Canada, owing to presence of several manufacturers. Demand for such fans is high, and with improving economic conditions, industrialists are eyeing for opportunities to enlarge their business operations. Moreover, the axial fans are available in abundance in the region owing to high production volume and increased consumption. Several players in the market are dominating the growth of the axial fans market and are focusing toward research and development activities and use of improved techniques. These players are constantly working on innovations in new product developments of axial fans with improved characteristics and qualities. However, strict government regulations and their impact on the surrounding environment is projected to hamper the axial fans market growth over the forecast period. Companies such as Multi-Wing America, Inc., Howden, and Zitrón are present in the North America region which would help in attracting attention of new industries. With growing requirement for emission control and noise reduction solutions, the demand for high-performance fans for the restricted spaces would continue to grow which is projected to influence the development cycle of axial fans. For instance, Multi-Wing America, Inc. has experienced demand for PMAX3 narrow-depth axial fans for many applications with restricted space, such as off-highway equipment and mobile power generators. The array of modular configurations of PMAX3 enables the company to boost production.
The US is the worst-hit country in North America due to the outbreak of COVID-19, with thousands of infected individuals facing severe health conditions across the country. Increasing number of infected individuals has led the government to impose lockdown across the nation’s borders during Q2. The majority of the manufacturing plants were either temporarily shut or are operating with minimum staff; the supply chain of components and parts is disrupted; these are some of the critical issues faced by the North American manufacturers. The US is one of the largest markets for axial fans especially rising demand from fume hood exhaust to exhaust harmful fumes away from operator; remove welding fume from welding booths; and many more. However, the outbreak has severely affected the production and revenue generation with the lower number of manufacturing staff. Thus, the factors mentioned above have had a negative impact on the growth of the axial fans market in the region.
Strategic insights for the North America 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$ 1060.27 Million |
| Market Size by 2028 | US$ 1472.71 Million |
| Global CAGR (2021 - 2028) | 4.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Speed
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America 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 North America is expected to grow from US$ 1060.27 million in 2021 to US$ 1472.71 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2021 to 2028. Rising demand for axial fans in vending machine An internal cooling unit installed in vending machines circulates cool air with the help of axial fans to maintain uniform temperature within the vending machine. If the temperature of a device increases beyond a certain limit, the internal parts of the machine can wear out within a short span or may lead to malfunctions, especially parts that generate heat are greatly affected by heat. Device internal cooling and fan selection are extremely important to attain long-term functioning of parts inside vending machines. With advancements in technology, axial fans are being increasingly used in vending machines. Therefore, growing demand for vending machine rises in developed and developing countries, such as the US, Canada, propels the demand for axial fans. Pelonis Technologies, Inc. offers an extensive range of axial fans for vending machine applications. Abbeychart, LF Spa, Sofasco Fans are some other players existing in an axial fans market. The players using axial fans for vending machines are making significant investment for the development of latest version of axial fans to make them highly adaptable among vending industry. Owing to the fact standard AC model is an energy efficient model and axial fans consumes nearly 100-watt electricity in the course of high-speed rotation. The fan can connect directly to DC power source such as solar panels and batteries which is making axial fans an ideal choice for different types of vending machines. In February 2018, Regal Beloit Corp., manufacturer of electric motors & other devices has developed new motor & fan- GlacAir for the commercial refrigeration application supported with the refrigerant R290. GlacAir is equipped with axial-flux electronically commutated motor design which assist in boosting energy efficiency of displays, reach-in coolers, vending machines., and other commercial refrigeration applications. Also, the new motor & fan consumes 85% less watts as compare to shaded pole motor. Such product developments will help in creating demand for axial fans for vending machine applications. 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 North America 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 North America Axial Fans Market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Sofasco Fans
• 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 North America Axial Fans Market is valued at US$ 1060.27 Million in 2021, it is projected to reach US$ 1472.71 Million by 2028.
As per our report North America Axial Fans Market, the market size is valued at US$ 1060.27 Million in 2021, projecting it to reach US$ 1472.71 Million by 2028. This translates to a CAGR of approximately 4.5% during the forecast period.
The North America 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 North America Axial Fans Market report:
The North America Axial Fans Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Axial Fans Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Axial Fans Market value chain can benefit from the information contained in a comprehensive market report.
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