The latest report by IMARC, titled “GCC Ceiling Fan Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that GCC ceiling fan market is expected to grow at a CAGR of 1.90% during the forecast period (2022-2027). Ceiling fans refer to a device installed on the ceiling of a room, with hub-mounted rotating blades that circulate the air, thus producing a destratification or cooling effect. They consist of aluminum or plastic blades, a capacitor, a flywheel, a holder, and a rotor. The warm air is attracted upward due to the rotation mechanism of the fan. In comparison to air conditioners and coolers, ceiling fans are more economical, energy-efficient, and have a longer shelf-life and lesser capital investment. In recent years, ceiling fans have gained traction in the GCC countries due to their widespread adoption in residential and commercial spaces.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will be integrated into the report.
GCC Ceiling Fans Market Trends:
One of the primary factors driving the market is the rising awareness of the economic and environmental benefits of ceiling fans. Additionally, the growing trend of spending on premium products of home décor is creating a positive market outlook. Other than this, technological innovations in ceiling fans, including lighting and decorative fans in different colors, designs, sizes, and styles, are escalating influencing the product demand. Besides this, key players are introducing brushless direct current (BLDC) motors that provide various advantages, such as low noise, longevity, lightweight, compactness, and energy costs, thus propelling the market growth. Furthermore, the launch of ceiling fans with new innovative features, including interchangeable blades, remote connectivity through smart devices, and voice control, is strengthening the market growth. Moreover, rapid globalization is leading to easy accessibility of this product through numerous distribution channels, thus creating lucrative growth opportunities for the leading players operating in the industry.
- Based on the product type, the market has been divided into standard, decorative, high speed, energy saving, and other fans.
- On the basis of the fan size, the market has been segmented into small, medium, and large.
- Based on the distribution channel, the market has been bifurcated into offline and online channels.
- On the basis of the end use, the market has been categorized into residential, commercial, and industrial.
- Country-wise, the market has been classified into Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain.
- The competitive landscape of the market has also been analyzed, along with detailed profiles of some of the key players operating in the industry.
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