Press release
Ceiling Fans Market Size, Share Analysis, Segments, Drivers, Trends, Forecast to 2032
Ceiling Fans Market Analysis
The Business Research Company's Ceiling Fans Global Market Report 2023 identifies increasing growth of the construction industry as the major driver for the ceiling fans market's growth in the forecast period. Construction is the process of building, altering, repairing, remodeling, improving, or demolishing any structure. Ceiling fans are helpful in the construction industry by introducing premium products such as decorative fans, and lighting fans, which offer higher margins, thereby increasing their profitability.
The global ceiling fans market size grew from $9.48 billion in 2022 to $10.09 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the ceiling fans is expected to grow to $11.61 billion in 2027 at a CAGR of 3.6%.
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Major competitors in the ceiling fans market are Emerson Electric Co., Del Mar Fans & Lighting, Crompton Greaves Consumer Electricals Limited, Shell Electric Mfg. (China) Co. Ltd., Broan-NuTone LLC.
A key trend in the ceiling fans market includes introduction of air-purifying ceiling fans. Companies operating in ceiling fans are introducing innovative products to meet consumer demand and strengthen their position. For instance, in March 2022, Havells India Limited, an Indian electrical equipment company, launched a Stealth Puro Air, India's first air purifying ceiling fan with a three-stage air purifier that filters PM2.5 and PM10 pollution, as well as Volatile organic compounds (VOCs). It offers a Clean Air Delivery Rate (CADR) of 130 cubic meters per hour. Stealth Puro Air is designed to promote a healthy lifestyle while also providing excellent comfort and well-being in the fast-paced lives of consumers.
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The ceiling fans market is segmented -
1) By Type: Standard Fan, Decorative Fan, High Speed Fan, Energy Saving Fan, Other Types
2) By End Use: Residential, Commercial
3) By Distribution: Offline, Online
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the ceiling fans market.
The Business Research Company's "Global Ceiling Fans Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Ceiling Fans Market Include:
1. Executive Summary
2. Ceiling Fans Market Characteristics
3. Ceiling Fans Market Trends And Strategies
4. Ceiling Fans Market - Macro Economic Scenario
5. Ceiling Fans Market Size And Growth
…….
26. Africa Ceiling Fans Market
27. Ceiling Fans Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ceiling Fans Market
29. Ceiling Fans Market Future Outlook and Potential Analysis
30. Appendix
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