Sep 6, 2021   SOURCE: BusinessWire

Global Ceiling Fan Market Growth Trajectory 2021-2026, Featuring Emerson Electric Co., Orient Electric, Panasonic Corporation and Hunter Fan Company - ResearchAndMarkets.com

The "Global Ceiling Fan Market Outlook, 2026" report has been added to ResearchAndMarkets.com's offering.

The ceiling fan market has come a long way, from a simple ventilation electric appliance to an added charm in the room, with marketers bringing in innovation within budget limits, which will allow the market to grow USD 3.52 Billion from 2015 to 2026. The increased spending on premium products of home décor has propelled the demand for ceiling fans with new innovative features such as interchangeable blades, lighting fans, and smart fans with features such as voice control and connectivity access to tablets and smartphones.

The market is further aided by the increasing demand for ceiling fans due to inflating income levels of the consumers and the growing availability of electricity. The market is expected to witness a volume growth of over 185.4 Million Units by the end of the forecasted period.

Long gone are those days when a ceiling fan's only job was to produce some airflow in the room. Today's ceiling fans are equipped with modern technologies that enable them to be very functional while being equally efficient. Based on product types, standard fans represent the most popular type of ceiling fans, accounting for more than 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. Even though the current generation understands the need for energy conservations, yet the energy-saving fan segment contributes to the lowest of USD 0.74 Billion by the end of the forecasted period. Growing spending on interior decorations as a result of increasing awareness regarding various designs for the house as well as commercial interiors will allow the decorative fan segment to grow with an anticipated CAGR of 4.30%.

The home décor industry has been witnessing inconsistent growth, since the COVID-19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few apart from the ceiling fan industry. Asia Pacific region is taking a larger share in the geographic segment. It is followed by, Europe, North America, and Middle East & Africa. The global ceiling fan market is driven by the growing housing sector, especially in developing economies. Urbanization in developing countries such as China and India is expected to play a key role in promoting the establishment of new residential buildings.

Additionally, over the past few years, the private and public sector banks of these countries have been providing home loans with reduced interest rates and low down-payments. This in turn supports the growth of the ceiling fan market in these two major economies, which together contributed to a share of 31% in the year 2020.

The Middle East & Africa region is expected to be the potentially growing market for ceiling fans, expanding at a value CAGR of 5.48% from 2021 to 2025. Increasing awareness regarding the benefits of ceiling fans among the consumers of African countries is generating the demand for ceiling fans. Furthermore, supportive government initiatives to provide electricity connection in rural areas in Burundi, Liberia, Niger, Malawi, and Mozambique countries will continue to generate the demand for the product in the upcoming years.

Report Scope:

  • Market Size By Value for the time period (2015-2026F)
  • Market Size By Volume for the time period (2015-2026F)
  • Market Share by Type (Standard Fan, Decorative Fan, High Speed Fan, Energy Saving Fan, Others)
  • Market Share by Size (Small, Medium & Large)
  • Market Share by Application (Household & Commercial)
  • Market Share by Sales Channel (Online & Offline)
  • Market Share by Region
  • Market Share by Country
  • Market Share by Company

Key Topics Covered:

1. Executive Summary

2. Report Methodology

3. Global Electric Fan Market Outlook

4. Global Ceiling Fan Outlook

5. North America Ceiling Fan Outlook

6. Europe Ceiling Fan Outlook

7. Asia Pacific Ceiling Fan Outlook

8. Latin America Ceiling Fan Outlook

9. Middle East & Africa Ceiling Fan Outlook

10. Market Dynamics

11. Market Trends and Developments

11.1. Bladeless Ceiling Fan

11.2. Anti- Dust Ceiling Fan

11.3. Dual Motor Ceiling Fans &Premium Fans

11.4. Niche Categories for Aesthetic looks

12. Company Profiles

  • Big Ass Fans
  • Crompton Greaves Consumer Electricals Limited
  • Emerson Electric Co.
  • Havells India Limited
  • Hunter Fan Company
  • Minka Lighting Inc
  • Orient Electric
  • Panasonic Corporation
  • Shell Electric Holdings Limited
  • The Henley Fan Company Limited
  • Westinghouse Electric Company LLC
  • Fantasia Ceiling Fans
  • Midea Group
  • Singfun Fans
  • Usha International Limited

13. Strategic Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/j2nqd8

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