Press release
Household Type Fans Market Outlook 2033: Size, Share, and Key Drivers || Midea Crompton Greaves Orient Electric NuTone Inc Havells India
Household Type Fans Global Market Report 2024
The Business Research Company presents an extensive market research report on the Household Type Fans Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The household type fans market size has grown steadily in recent years. It will grow from $31.3 billion in 2023 to $32.83 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, low-interest rate environment, government schemes and initiatives for housing, growth in world population and increased electrification.
The household type fans market size is expected to see steady growth in the next few years. It will grow to $38.66 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to global population growth and urbanization, faster economic growth, growth of e-commerce, internet of things (iot), an increase in global construction activity, energy savings and benefits and steadily increasing global temperatures. Major trends in the forecast period include manufacturing more energy efficient fans, launching new products based on iot, launching bladeless fans, deploying ai to improve efficiency, offering fans with air purification technology and offering bldc (brush-less direct-current) motor fans.
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Key Market Players:
Major companies operating in the household type fans market report are Midea, Crompton Greaves, Orient Electric, NuTone Inc, Havells India, Big Ass Fans, Hunter Fan Company, Lasko, Usha, Shell Electric Holdings Limited, Atomberg, Bajaj, Anchor, Longway, Ottomate, Jupiter, Foshan Carro Electrical Co Ltd, Shunde Damin Enterprise Group Co Ltd, Zhongshan Meihua Electrical Appliance Co Ltd, Cheng Tung Technology Co Ltd, Ningbo Kingsun Anchor Industrial Co Ltd, Shining Electrical Appliance Co Ltd, Sienhua Electric Fan Co Ltd, Comefri China, Zhongshan Kebaishi Electric Appliance Co Ltd, Cixi Changfeng Electrical Appliance Factory , Exhale FANS , CasaFan, Kroll Energy GmbH, Halifax Fan, Axair Fans, Henley Fan, FPZ S.p.A., Fans-tech Electric Co., Ltd, DLK Ventilatoren GmbH, LTG Aktiengesellschaft, Michell Instruments Ltd, AUSTAR , Electrolux, Haier, Bosch, Panasonic Corporation, KTD GROUP, Aisberg Company, Philips, Damco Shenzhen, Curly, Youngo Ltd., Casablanca, Emerson Ceiling Fans, Minka, Craftmade, Litex, Fanimation, Kichler, SMC, ACC, MOUNTAINAIR, King of Fans, Airmate, Ajanta Electricals, The Modern Fan Company, Trane Technologies Plc., Loren Cook Company, Greenheck Fan Corp., Howden Group Ltd, Continental Blower LLC., Masco Corporation, Burgan Aircondition & Ventalitions, MOHSEN KUWAIT ESTABLISHMENT, Alhasawi Industrial Group, Electro Al Jazirah,, Fantasia Ceiling Fans, Fresh Electric S.A.E, Samsung Electronics Egypt S.A.E, Universal COMPANY, KIMBO EGYPT
Market Drivers:
Increased electrification especially in rural areas will contribute to the growth of the household fans market in the forecast period. Electrification coupled with the rise in disposable income has boosted the demand for household fans. According to the Energy Information Administration, a US-based government agency, in the US, total electricity end-use consumption in 2022 was about 2.6% higher than in 2021, with retail electricity sales to the residential and commercial sectors being higher than in 2021. The net disposable income per capita rose, According to the Bureau of Economic Analysis, in July 2023, disposable personal income increased by $7.3 billion (less than 0.1 percent). The rise in disposable income increased the purchasing power of the people which in turn has increased the growth of the market for household fans.
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https://www.thebusinessresearchcompany.com/report/household-type-fans-global-market-report
The household type fans market covered in this report is segmented -
1) By Type Of Product: Ceiling Fans, Table, Pedestal and Wall Fans, Exhaust Fans And Others
2) By Type of Current: AC Residential Fans, DC Residential Fans
3) By Application: Home, Commercial
4) By Distribution Channel: Store-based Retailing, Direct Sales, Non Store based Retailing
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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