Cooling & Refrigeration Segment to Dominate APAC Axial Fans Market during 2020–2028

According to a new market research study on “APAC Axial Fans Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Speed, Size, Application, Type and End User,” is expected to reach US$ 1752.25 million by 2028 from US$ 1228.17 million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2021 to 2028. The report provides trends prevailing in the APAC axial fans market along with the drivers and restraints pertaining to the market growth. Increasing demand for axial fans in vending machine are the major factor driving the growth of the APAC axial fans market. However, High noise level of axial fans hinder the growth of APAC axial fans market.

Asia Pacific is characterized by the presence of a large number of developing countries, positive economic outlook, high industrial presence, and huge population. All these factors make APAC a major region for the growth of various markets including axial fans. The lockdown of various plants and factories in all economies of the region is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various products and services. In addition to this, the region is a global manufacturing hub with countries, such as China, Japan, South Korea, and India, leading the global manufacturing industry growth. Disruptions in manufacturing units has stopped the production of new axial fans, and thus negatively impacted the market growth. Due to temporary shutdown of manufacturing units, both production & procurement of axial fans got hampered which has negatively impacted the market growth. On the contrary, the government is lifting lockdowns in all the countries of Asia, which is projected to positively impact the production and development of new axial fans and components.

Based on the speed of axial fans, the market is segmented into low speed, medium speed, and high speed. Based on size, the market is segmented into Diameter below 250 mm, Diameter (250–910) mm, Diameter (910–1500) mm and Above diameter 1500 mm). Based on application, the market is segmented into radiator, cooling and refrigeration, ventilation, and others. Based on type, the market is segmented into AC, DC, and EC types. Based on end user, the market is segmented into commercial, industrial, and residential.

Sofasco Fans; Sunonwealth Electric Machine Industry Co., Ltd; ZIEHL-ABEGG; OMRON Corporation; Hidria; Fulltech Electric Co., Ltd; Howden Group; COOLTRON Industrial Supply, Inc; Oriental Motor USA Corp ;Ebm-papst; WingFan Ltd. & Co. KG; Multi-Wing International a/s; FläktGroup Holding GmbH; Horton Holding, Inc; Phillips & Temro Industries; Elta Fans; BorgWarner Inc; Cofimco Srl are among the leading companies in the APAC Axial Fans Market The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021 BorgWarner Agrees to Acquire AKASOL AG

The report segments the APAC Axial Fans Market as follows:

APAC Axial Fans Market – By Speed

• Low Speed
• Medium Speed
• High Speed

APAC Axial Fans Market – By Size

• Diameter Below 250 MM
• Diameter (250-910) MM
• Diameter (910-1500) MM
• Diameter Above 1500 MM

APAC Axial Fans Market – By Application

• Radiator
• Cooling & Refrigeration
• Ventilation
• Other

APAC Axial Fans Market – By Type

• AC
• DC
• EC

APAC Axial Fans Market – By End User

• Commercial
• Industrial
• Residential

APAC Axial Fans Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC