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Household Fans Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Household Fans Market
The Business Research Company offers in-depth market insights through Household Fans Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The household 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 consumer preferences for cooling solutions, energy efficiency concerns, urbanization and housing trend, climate and weather patterns, regulatory standards and certifications.
The household 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 growing marketing strategies and consumer education, integration with renewable energy, urbanization and compact living, health and air quality concerns, innovations in design and aesthetics. Major trends in the forecast period include quiet operation and noise reduction, energy efficiency and eco-friendly designs, smart and connected features, innovative design and aesthetics, versatility and multi-functionality.
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Market Segmentation:
The household fans market covered in this report is segmented -
1) By Type Of Product: Ceiling Fans, Table Fans, Pedestal Fans, Exhaust Fans, Wall Fans
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
Major Driver - Growth In Household Fan Market Fueled By Increased Electrification, Rising Disposable Income In Rural Areas
Increased electrification, especially in rural areas, has contributed to the growth of the household fan market in the historic period. Electrification, coupled with the rise in disposable income, has boosted the demand for household fans. For example, in India, the percentage of the rural population with access to electricity increased to 89.3%. The percapita net disposable income increased to $2,018.53. The rise in disposable income increased the purchasing power of people, which in turn increased the household fan manufacturing market.
Competitive Landscape:
Major companies operating in the household fans market report are Shell Electric MFG Co. Ltd., Hunter Fan Company, Crompton Greaves Consumer Electricals Limited, Bajaj Electricals Ltd., Panasonic Corporation, Midea Group Co. Ltd., Emerson Electric Co., Monte Carlo Fan Company, SMC Corporation, Westinghouse Electric Corporation, ACC Limited, Havells India Limited, Broan-NuTone LLC, Luminous Power Technologies Pvt. Ltd., Airmate Electrical Co. Ltd., Henley Fan Company Ltd., Kichler Lighting LLC, Craftmade International Inc., Minka Group Inc., Orient Electric Limited, Usha International Limited, Casablanca Fan Company, Fanimation Inc., Usha Shriram Enterprises Pvt. Ltd., Polar Industries Ltd., King of Fans Inc., Litex Industries Limited, Ajanta Electricals Ltd., Mountainair Fans Pvt. Ltd., Khaitan Electricals Ltd., Fantasia Ceiling Fans Ltd., GRANSO CO. Ltd., Guangdong Zhaoqing Deton Co. Ltd.
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Top Trend - Household Fan Manufacturers Reduce Carbon Footprint And Promote Energy Savings
Household fan manufacturers are increasingly producing energy-efficient products to reduce their carbon footprint and enable energy savings for consumers. The rise of energy-efficient appliances can be attributed to stringent government regulations on electric home appliances and advances in technology. Energy-efficient fans are designed to utilize minimum energy. Currently, over 80 countries have standards and labels for energy-efficient appliances. For example, in the USA, ENERGY STAR-certified ceiling fans provide cutting-edge design, use the latest technology, and are 60% more efficient than conventional ceiling fans.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Household Fans Market Characteristics
3. Household Fans Market Trends And Strategies
4. Household Fans Market - Macro Economic Scenario
5. Household Fans Market Size And Growth
…..
27. Household Fans Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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