The global ceiling fan market reached a value of US$ 9.33 Billion in 2020. Ceiling fans refer to electrically powered mechanical devices that are suspended from the ceiling of a room to circulate air. They induce evaporative cooling and slow movement into the still, thereby cooling the hot air in the room effectively. Ceiling fans have hub-mounted rotating paddles which move much slower when compared with electric desk fans. They are highly preferred by consumers due to their advantageous properties over air-conditioners like high energy-efficiency, better shelf-life, low power consumption and cost-effectiveness. Looking forward, IMARC Group expects the global ceiling fan market to reach a value of US$ 12.02 Billion by 2026, exhibiting a CAGR of 4.21% during 2021-2026.
Global Ceiling Fan Market Drivers:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ceiling fan market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, product type, fan-size, end-use, and distribution channel.
Breakup by Product Type:
On the basis of product types, standard fans represent the most popular type of ceiling fans, accounting for more than a half of the total global market. The popularity of standard fans can be attributed to their easy usage and cost-effectiveness. Standard fans are followed by decorative fans, high-speed fans, energy saving fans and others.
Breakup by Fan-size:
Based on fan-sizes, medium-sized fans represent the largest segment, holding around three-fourths of the market share. They can be easily installed, provide cooling at a lower velocity and are affordable by the middle-income group. Medium-sized fans are followed by small-sized and large-sized fans.
Breakup by End-use:
The global ceiling fan market has also been bifurcated on the basis of end-use into the residential, commercial and industrial sectors. Amongst these, the residential sector holds the largest share due to ongoing constructional activities across the globe.
Breakup by Distribution Channel:
On the basis of distribution channels, offline stores are majorly preferred by the consumers as they can physically examine ceiling fans and instantly purchase the product. Offline stores are followed by online stores.
Region-wise, China represents one of the largest producers and exporters of ceiling fans worldwide. Warm weather conditions along with the huge population are majorly propelling the consumption of ceiling fans in the region. It is followed by India, European Union, the United States and Brazil.
The market is fragmented due to the presence of various small and large manufacturers. Some of the leading players in the market are:
This report provides a deep insight into the global ceiling fan market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a ceiling fan manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the ceiling fan industry in any manner.
Key Questions Answered in This Report:
According to the estimates by IMARC Group, the global ceiling fan market to reach a value of US$ 12.02 Billion by 2026, exhibiting a CAGR of 4.21% during 2021-2026.
The burgeoning construction industry in recent years and the increasing access to electricity around the world are among the key factors bolstering the market growth.
The increasing focus of governments of numerous countries on the electrification of remote and rural areas, along with the introduction of innovative designs and features in ceiling fans, represents one of the major trends in the market.
The coronavirus disease (COVID-19) outbreak and consequent lockdowns imposed by governments of several countries have disrupted the supply chains and halted the operations of various manufacturing units. Thus, the market is currently experiencing negative growth on account of the pandemic.
The global ceiling fan market reached a value of US$ 9.33 Billion in 2020.
On the basis of end-use, the market has been bifurcated into the residential and commercial sectors.
Based on the type, the market has been classified into standard, decorative, high-speed, energy-saving and other fans.
The market has been categorized based on the fan size into small, medium and large segments.
On the basis of the distribution channel, the market has been divided into online and offline channels.
Region-wise, the market has been segmented into the United States, China, India, European Union, Brazil and others.
Leading industry players are Emerson Electric Co., Hunter Fan Company, Crompton Greaves Consumer Electricals Ltd., Broan-NuTone LLC and Shell Electric Holdings Limited.
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