axial fans Market

The Axial Fans market was valued at US$ 2,301.4 million in 2020 and is projected to reach US$ 3,219.8 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028.

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, Germany, France, Italy, China, and India, 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 among 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.

A few key companies operating in the Axial Fans market and profiled in the report are Rosenberg Ventilatoren GmbH; ZIEHL-ABEGG; Hidria; Fulltech Electric Co., Ltd, and Rosenberg Ventilatoren GmbH.

Overall size of the axial fans market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the axial fans market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the axial fans market.