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Ceiling Fans Global Market Report 2024 by The Business Research Company | Emerson Electric Co., Del Mar Fans & Lighting, Crompton Greaves Consumer Electricals Limited, Shell Electric Mfg Co. Ltd., Broan-NuTone LLC, Minka Lighting Inc., Ajanta Electricals
Ceiling Fans Market Trends
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The ceiling fans market size is expected to see steady growth in the next few years. It will grow to $12.34 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to increasing environmental awareness, increasing housing projects, market expansion in developing countries, rising disposable income, and increasing population. Major trends in the forecast period include technological advancements, cost-effective cooling solutions, integration with home automation, adoption of customized products, smart ceiling fans
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Ceiling Fans Market Major Segments
The ceiling fans market covered in this report 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
Key Driver - Booming Construction Industry Fuels Growth In The Ceiling Fans Market
The increasing growth of the construction industry is significantly contributing to the growth of the ceiling fans market. 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. For instance, according to the United States Construction Databook Series, the U.S. construction industry is expected to increase by more than 15% in 2021. Also, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, in December 2021, there were 1,873,000 building permits granted while the number of housing completions stood at 1,295,000. Therefore, the increasing growth of the construction industry is driving the ceiling fans market growth.
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Prominent Trend - Innovative Air-Purifying Ceiling Fans Transform The Ceiling Fans Market
The introduction of air-purifying ceiling fans has emerged as a key trend gaining popularity in the ceiling fans market. 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.
Ceiling Fans Market Players
Major companies operating in the ceiling fans market include Emerson Electric Co., Del Mar Fans & Lighting, Crompton Greaves Consumer Electricals Limited, Shell Electric Mfg Co. Ltd., Broan-NuTone LLC, Minka Lighting Inc., Ajanta Electricals Pvt. Ltd., Big Ass Fans, Casablanca Group Ltd., The Henley Fan Company Ltd., Monte Carlo Fashions limited, Mega Home Appliances Pvt.Ltd., Havells India Ltd., Hunter Fan Company, Craftmade International Inc., Kichler Fans Co. Inc., Matthews Fans Co., Visual Comfort Fan Company, Quorum Fans, Modern Forms Fans, Westinghouse Fans, Fanimation Inc., Orient Electric Limited, Almonard Pvt. Ltd., Atomberg Technologies Pvt. Ltd., Bajaj Electricals Limited, Gorilla Fans, Khaitan Electricals Limited, Luminous Power Technologies Pvt. Ltd., Polar Industries Ltd., Superfan Co., Surya Roshni Limited, Usha International Limited
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the ceiling fans market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ceiling fans market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ceiling Fans Market Report Structure
3. Ceiling Fans Market Trends And Strategies
4. Ceiling Fans Market - Macro Economic Scenario
5. Ceiling Fans Market Size And Growth
…..
27. Ceiling Fans Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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