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. Developed and developing countries hold significant potential for many small and large players operating in the axial fans market.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Axial Fans Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Speed, Size, Application, Type, and End User" - https://www.reportlinker.com/p06103251/?utm_source=GNW
Axial fans have applications in a wide range of industries, such as cement, paper and wood, pharmaceuticals, steel, and food. Axial fans are used in these industries for handling critical processes that require drying, ventilation, and fume and hot air exhaust, among others. These types of fans are mainly applied in heat exchange equipment. Cooling towers, air-cooled condensers, and air-cooled heat exchangers are other applications of these fans. The low cost of manufacturing, coupled with the availability of cheap labor, is attracting various industry players to set their manufacturing bases in these countries. Further, limited government regulations for manufacturers in countries positively influence the growth of the axial fans market in this region. The country is among the most important manufacturers and industrial producers
The US is one of the largest markets for axial fans, especially due to rising demand from fume hood exhaust to exhaust harmful fumes away from operator; remove welding fume from welding booths; and many more.It is also the worst-hit country by the COVID-19 outbreak in North America, with a huge number of individuals facing severe health conditions.
These conditions have led the federal government to impose lockdown across the nation’s borders during Q2 2020.The majority of the manufacturing plants were either temporarily shut or were operating with minimum staff; the lockdown and travel ban also led to disruptions in supply chain of components and parts.
Thus, the axial fans market in North America has faced negative effects of the pandemic.
The axial fans market, based on speed, is segmented into low speed, medium speed, and high speed.The medium speed segment led the market in 2020.
The medium-speed axial fans are an ideal choice for ducted or unducted commercial and industrial ventilation systems installed in such as office buildings, parking garages, warehouses, and manufacturing plants.These fans can be designed for both indoor and outdoor applications.
They can also be used for refrigeration in devices such as coolers, condensers, chillers, blast and spiral freezers, radiators, and oil coolers.In industrial applications, medium-speed fans are used in engine and turbine ventilation, containers and chambers ventilation, dry coolers, transformers, machine cooling, hydropower, wood dryers, paper, textiles, and chemical and metallurgic production.
These fans are widely used in applications such as food processing, crop drying, coolers, chillers, condensers, engine and turbine ventilation, and machine cooling.
The North America axial fans market size 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 overview and forecast for the North America axial fans market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry expert 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 North America axial fans market. Sofasco Fans; Sunonwealth Electric Machine Industry Co., Ltd; OMRON Corporation; Hidria; Fulltech Electric Co., Ltd; Howden Group; COOLTRON Industrial Supply, Inc; Oriental Motor USA Corp; Pelonis Technologies, inc; WingFan Ltd. & Co. KG; Multi-Wing International a/s; FläktGroup Holding GmbH; Horton Holding, Inc; Phillips & Temro Industries; Elta Fans; and BorgWarner Inc are among the market players operating in North America
Read the full report: https://www.reportlinker.com/p06103251/?utm_source=GNW
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