The latest report by IMARC Group, titled “North America Ceiling Fan Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the North America ceiling fan market is expected to exhibit a CAGR of 2.88% during the forecast period (2022-2027). Ceiling fans are mechanical devices that are usually electrically powered and suspended from the ceiling of enclosed spaces. They are manufactured using cast iron, cast aluminum, or stamped steel and comprise hub-mounted rotating blades that move clockwise. They induce evaporative cooling and create slow movement in the still and hot air to circulate the air in the room. Compared to electric desk fans, they have a slower speed; however, they are more energy efficient, require low maintenance, and have a long service life. They are more economical, consume less power than air conditioners, and offer convenient portability, making their installation feasible for residential and commercial sectors. As a result, ceiling fans are gaining immense traction in North America.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
North America Ceiling Fan Market Trends:
In North America, significant growth in the housing sector due to the expanding population and rapid urbanization represents the primary factor driving the market growth. Besides this, the rising consumer spending on interior decoration to modify homes and commercial spaces is another major growth-inducing factor. Additionally, since North America is a cold region, there has been widespread product adoption for ventilation during winters. Along with this, the increasing product installation in commercial, hospitality, and retail establishments has augmented the demand for ceiling fans. Furthermore, several leading manufacturers are launching premium ceiling fans, such as lighting and decorative fans, with unique designs and sleek appearance. In line with this, the development of innovative product variants equipped with remote control, pull cords, layered light fixtures, and interchangeable and customizable blades in trendy fan finishes has catalyzed the market growth. Moreover, the easy product availability via offline and online distribution channels owing to rapid globalization has accelerated product sales. Other factors, including the growing popularity of intelligent fans, emerging home renovation trends, surging social media influence, new technological innovations, and inflating consumer disposable incomes, are also creating a favorable market outlook.
- Based on the end use, the market has been classified into residential, commercial, and industrial.
- On the basis of the type, the market has been divided into standard, decorative, high speed, energy saving, and other fans.
- The market has been segmented based on fan size into small, medium, and large.
- Based on the distribution channel, the market has been bifurcated into offline and online channels.
- Country-wise, the market has been segregated into the United States, Canada, and Mexico.
- The competitive landscape of the market has also been examined, along with detailed profiles of the key players operating in the industry.
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