Global market revenue of axial fan from 2016-2023($M) Key Drivers of the Global Axial Fans Market Global market drives · Axial fans work to create low-pressure, high-volume airflows. The product finds usage in confined cooling spaces including server rooms and work spaces. · A standard AC model is energy efficient. Axial fans consume around 100 watt electricity during its high speed rotation. It can be connected directly to a DC power source including batteries and solar panels. Thus, it is widely used in different vending machines as a result of its even flow of cold air. · Advancement in vending machine technology is driving manufacturers to invest in high quality axial fans. This factor is expected to boost its usage in the coming years. Impact of COVID-19 Pandemic on Axial Fans Market The outbreak of COVID-19 has created significant disruptions in primary industries such as food & beverage, energy & power, electronics & semiconductor, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the global axial fans market as they are the major supply and demand sources for axial fans products and solutions. Also, applications such as vending machines, snow making machines, and HVAC systems, where axial fans play a crucial role have witnessed strategic decline in the adoption of the products, thus has created a negative impact in the market growth. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreaks have impacted manufacturing, supply, and sales of various electronic components that are required for the manufacturing of axial fans. The estimated impact of COVID-19 outbreak on the growth of global axial fans market in various countries/regions is described below.

Global market revenue of axial fan from 2016-2023($M) Key Drivers of the Global Axial Fans Market Global market drives · Axial fans work to create low-pressure, high-volume airflows. The product finds usage in confined cooling spaces including server rooms and work spaces. · A standard AC model is energy efficient. Axial fans consume around 100 watt electricity during its high speed rotation. It can be connected directly to a DC power source including batteries and solar panels. Thus, it is widely used in different vending machines as a result of its even flow of cold air. · Advancement in vending machine technology is driving manufacturers to invest in high quality axial fans. This factor is expected to boost its usage in the coming years. Impact of COVID-19 Pandemic on Axial Fans Market The outbreak of COVID-19 has created significant disruptions in primary industries such as food & beverage, energy & power, electronics & semiconductor, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the global axial fans market as they are the major supply and demand sources for axial fans products and solutions. Also, applications such as vending machines, snow making machines, and HVAC systems, where axial fans play a crucial role have witnessed strategic decline in the adoption of the products, thus has created a negative impact in the market growth. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreaks have impacted manufacturing, supply, and sales of various electronic components that are required for the manufacturing of axial fans. The estimated impact of COVID-19 outbreak on the growth of global axial fans market in various countries/regions is described below.

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.

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.

Application Segment Insights Based on application, the axial fans market has been segmented into radiator, cooling & refrigeration, ventilation, and others. The cooling & refrigeration segment accounted for the largest share of the axial fans market in 2020. Moreover, the ventilation segment is projected to grow at the fastest pace during the forecast period.