Axial Fans Market Research Report and Outlook by 2028

The Axial Fans market was valued at approximately US$ 2,301.4 million in 2020 and is anticipated to grow to around US$ 3,219.8 million by 2028, reflecting a compound annual growth rate (CAGR) of 4.3% from 2021 to 2028.

In vending machines, an internal cooling unit utilizes axial fans to circulate cool air, ensuring a consistent temperature throughout the machine. If the temperature exceeds a certain threshold, the internal components can deteriorate rapidly or malfunction, particularly those that generate heat, which are especially vulnerable to high temperatures. Therefore, the selection of appropriate cooling systems and fans is crucial for the longevity of the components within vending machines. With technological advancements, the use of axial fans in vending machines has been on the rise. Consequently, the increasing demand for vending machines in both developed and developing nations, including the United States, Canada, Germany, France, Italy, China, and India, is driving the need for axial fans. Pelonis Technologies, Inc. provides a wide array of axial fans tailored for vending machine applications. Other notable players in the axial fans market include Abbeychart, LF Spa, and Sofasco Fans. Companies utilizing axial fans in vending machines are investing significantly in the development of the latest versions of these fans to enhance their adaptability within the vending industry. The standard AC model is recognized for its energy efficiency, with axial fans consuming approximately 100 watts during high-speed operation. These fans can be directly connected to DC power sources, such as solar panels and batteries, making them an excellent choice for various vending machine types. In February 2018, Regal Beloit Corp., a manufacturer of electric motors and related devices, introduced a new motor and fan system named GlacAir for commercial refrigeration applications, compatible with the refrigerant R290. GlacAir features an axial-flux electronically commutated motor design that enhances energy efficiency in displays, reach-in coolers, vending machines, and other commercial refrigeration systems. Additionally, this new motor and fan combination consumes 85% less power compared to traditional shaded pole motors. Such innovations are expected to stimulate demand for axial fans in vending machine applications.

Several prominent companies in the Axial Fans market, as highlighted in the report, include Rosenberg Ventilatoren GmbH, ZIEHL-ABEGG, Hidria, Fulltech Electric Co., Ltd, and Rosenberg Ventilatoren GmbH.

The overall size of the axial fans market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aims to provide a comprehensive overview and forecast for the axial fans market across all segments and regions. Furthermore, multiple primary interviews have been conducted with industry participants and commentators to validate the findings and gain deeper analytical insights into the subject matter. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the axial fans market.