Press release
Global Ceiling Fan Market Size To Grow At A CAGR Of 3%% During The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter's Five Forces Models.
Ceiling Fan Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): More Than USD 9.3 Billion
Forecast CAGR (2023-2028): 3%
Rapid urbanisation in developing nations like China and India is anticipated to significantly aid new residential construction projects. This is also expected to soar ceiling fan market demand in the forecast period as low- and middle-income groups are increasingly investing in home infrastructure.
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Noise is a major concern for consumers of ceiling fans. Fans that are too loud can be distracting and reduce user comfort. Hence, manufacturers of ceiling fans are releasing models equipped with technologies that can drastically lower noise levels. These fans have noise-cancelling components such as sound-absorbing materials, brushless DC motors, and aerodynamic blades.
The capability of ceiling fans to serve as a decorative element for complementing and enhancing the ambience, mood, and design of a space is driving the market. Moreover, the demand for ceiling fans is also increasing amid the growing availability of ceiling fans with diverse designs and reasonable prices.
Ceiling Fan Industry Definition and Major Segments
A ceiling fan is a type of electric fan suspended from the ceiling, usually used to circulate the air in the room. Unlike air conditioners, it does not have air temperature-changing functions. It features various components, including a rotor, a flywheel, a rotor, blades or paddles, and metal arms, among others. A ceiling fan can consist of 3-6 blades or paddles.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/ceiling-fan-market
The market, based on type, is divided into:
Standard Fan
Decorative Fan
High Speed Fan
Energy Saving Fan
Others
On the basis of fan size, the ceiling fan market is segregated into:
Small
Medium
Large
By distribution channel, the market is bifurcated into:
Offline
Online
The major end uses of ceiling fan are:
Residential
Commercial
The major regional market of ceiling fan include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Ceiling Fan Market Trends
The extension of outdoor living areas is boosting the utilisation of outdoor ceiling fans to provide cooling and air circulation in outdoor locations. These fans have characteristics like weather-resistant materials, rust-proof coatings, and waterproof motors to handle extreme environmental conditions.
The popularity of smart ceiling fans is growing as they are equipped with features such as remote control, voice control, and mobile app control. These features allow users to control the fan from anywhere in the room or even remotely. Some smart ceiling fans are also equipped with sensors that can detect the temperature and humidity levels in the room and adjust the fan speed accordingly.
The Asia Pacific region holds a significant portion of the overall ceiling fan market, due to the expanding middle-class population in China and India. The implementation of favourable government initiatives to improve urban infrastructure is anticipated to be a major factor aiding the demand for ceiling fans in the coming years.
Key Market Players
The major players in the global ceiling fan market report include Crompton Greaves Consumer Electricals Limited, Emerson Electric Co., Hunter Fan Company, Ajanta Electricals, Del Mar Fans & Lighting, and The Henley Fan Company Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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