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Market Size in USD Billion
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USD 11.49 Billion |
| USD 17.50 Billion | |
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Global Ceiling Fans Market, By Type (Standard Fan, Decorative Fan, High Speed Fan, Energy Saving Fan, AC Ceiling Fans, DC Ceiling Fans, Others), Distribution Channel (Multiband Stores, Exclusive Stores, Online, Offline, Other Distribution Channels), Size (Small, Medium, Large), End-User (Residential, Commercial, Industrial) – Industry Trends and Forecast to 2030.
A mechanical fan mounted on ceiling of a room or other space to create and move air is known as a ceiling fan. By cyclically rotating its blades, which stirs up still air, it aids in cooling the surrounding atmosphere. The expanding housing sector, particularly in developing economies, drives the global ceiling fan market. For instance, the governments of China and India are developing new programs to offer housing to low- and middle-income groups. Additionally, expansion in the hospitality, commercial real estate, and retail industries are boosting ceiling fan market expansion. Consumer spending on high-end home furnishings will increase demand for ceiling fans with new, cutting-edge features such as lighting fans, interchangeable blades, and smart fans with connectivity to phones and tablets.
Data Bridge Market Research analyses that the ceiling fans market, valued at USD 11.49 billion in 2022, will reach USD 17.50 billion by 2030, growing at a CAGR of 5.4% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Standard Fan, Decorative Fan, High Speed Fan, Energy Saving Fan, AC Ceiling Fan, DC Ceiling Fans, Others), Distribution Channel (Multiband Stores, Exclusive Stores, Online, Offline, Other Distribution Channels), Size (Small, Medium, Large), End-User (Residential, Commercial, Industrial)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Emerson Electric Co. (U.S.), Hunter Fan Company (U.S.), Crompton Greaves Consumer Electricals Limited (India), Shell Electric Holdings Limited (China), Broan-NuTone, LLC. (U.S.), Ajanta Electricals (India), Orient Electric (India), Fantasia Ceiling Fans (U.K.), Westinghouse Electric Corporation (U.S.), Minka Lighting Inc. (U.S.), Panasonic Life Solutions India Pvt. Ltd. (India), Casablancafanexperts (U.S.), Craftmade (U.S.), Fanimation (U.S.), Kichler Lighting LLC (U.S.), Usha International Ltd. (China), Mountain Air (U.S.), King of Fans (U.S.), GRANSO CO., LTD. (China), Guangdong Zhaoqing Deton Co., Ltd (China)
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Market Opportunities
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Market Definition
The mechanical system powers the ceiling fan. A hook from the building's beam holds it to the ceiling. An internal electric rotor rotates the blades attached to the main circular body. Fans cause no change in temperature. However, it causes a heat exchange through convection and produces a cooling effect by evaporating sweat. In most cases, the rotating rotors emit some heat. Standard, low profile, dual motor, remote control, and other types of ceiling fans are available.
Drivers
The population density is rising daily throughout the world. Due to health infrastructure development, the birth-to-death ratio in many countries is much higher than 10 per hour. The purchase of necessities is directly correlated with the rising population density. The average temperature is rising across the globe as a result of global warming. For most of the world's regions, minimal cooling agents are becoming necessary. Many people lack the means to buy expensive items such as air conditioners. However, primary ceiling fans are a standard purchase many people can afford. Therefore, the increasing population growth and the need to find relief on hot, sunny days is another important driver for this item.
Some of the significant factors that are likely to accelerate the growth of the ceiling fans market in the anticipated timeframe include the expanding global construction industry, increasing government investments in housing projects for residents, rising levels of disposable income, rising levels of population around the world, rapid urbanization, and rising electrification rates. Construction is a booming industry worldwide. A ceiling fan had to be purchased for each building being constructed. It is stated that more ceiling fans are being purchased as more buildings are being built worldwide. As a result, the growth in new constructions is a buoyant market driver for ceiling fans.
The demand for ceiling fans has quickly increased as consumer incomes rise and electricity becomes more widely available. To increase their profitability, manufacturers release premium goods with higher profit margins, such as lighting fans, decorative fans, etc. It also serves as a decorative accessory that enhances a space's look, feel, and style and draws attention to the product. The affordability and low energy consumption, even for those with low and middle incomes, contribute to the preference increase.
Opportunities
It is anticipated that the demand for ceiling fans will shortly be impacted by the governments of several emerging nations' goal of bringing electricity to remote rural areas. In India, for instance, the goal is to power over a million homes. The demand for ceiling fans is rising, especially in developing nations due to the housing market's expansion. For instance, the governments of China and India are creating new strategies to provide housing for low- and middle-income groups. Additionally, the market expansion is supported by commercial real estate, hospitality, and retail growth.
The introduction of high-end and sophisticated products, such as decorative fans with lighting, and rising public awareness of the value of contemporary, intelligent fans will additionally contribute by creating enormous opportunities to fuel the growth of the ceiling fans market in the previously mentioned anticipated timeframe. Growing production of ceiling fans that can be operated by voice assistants and provide convenience, particularly for people with physical disabilities, presents a market opportunity.
Restraints/Challenges
Even more expensive models typically have quieter models, and some ceiling fans are noisy. Additionally, as screws may loosen with time and the motor gets louder with age, the likelihood of fan noise increases. Due to their more compact and effective motors, DC-type fans are typically quieter. Expect some "wind" noise as the blades move through the air in addition to motor noise.
Fashionable home decor is currently a source of growing concern. Trendy goods are in demand. Manufacturers are adding more designs to their products to meet this demand, raising the price. This is constraining you. Alternative products like room coolers, table fans, air conditioners, and other increasingly popular goods restrain the market's expansion.
This ceiling fans market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ceiling fans market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
The ceiling fans market is segmented on the basis of type, distribution channel, size and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Distribution Channel
Size
End-User
The ceiling fans market is analysed and market size insights and trends are provided by country, type, distribution channel, size and end-user as referenced above.
The countries covered in the ceiling fans market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Asia-Pacific dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region’s dominance are the expansion of the middle class, the development of advanced and improved urban infrastructure, and an increase in government initiatives through the implementation of supportive programs in China and India.
Middle East and Africa will undergo the highest growth rate during the forecast period owing to the growing public awareness of the advantages of ceiling fans and the increasing number of government initiatives to provide electricity connections in remote areas of the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The ceiling fans market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to ceiling fans market.
Some of the major players operating in the ceiling fans market are:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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