Dublin, Dec. 27, 2022 (GLOBE NEWSWIRE) — The “Ceiling Fans Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global ceiling fans market market.
The global ceiling fans market is expected to grow from $8.80 billion in 2021 to $9.57 billion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The ceiling fan market is expected to grow to $11.82 billion in 2026 at a CAGR of 5.4%.
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Major players 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, Minka Group, Ajanta Electricals, Big Ass Fans, Casablanca, The Henley Fan Company Ltd, Monte Carlo, Mega Home Appliances, and Havells India Ltd.
The ceiling fans market consists of sales of ceiling fans by entities (organizations, sole traders, and partnerships) that are used to evenly distribute and circulate the air that’s in the room and to improve the decor of the rooms. A ceiling fan is a device suspended from the ceiling of a room, with hub-mounted rotating blades that circulate the air, thereby producing a cooling effect. They have a better shelf-life, low power consumption, and are cost-effective.
The main types of ceiling fans are standard fans, decorative fans, high-speed fans, energy-saving fans, and other types. Standard ceiling fans are conventional ceiling fans with metal blades used for circulating air in homes and offices. The ceiling fans are applied in residential and commercial buildings and distributed through online and offline channels.
Asia Pacific was the largest region in the ceiling fans market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ceiling fans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The ceiling fans market research report is one of a series of new reports that provides ceiling fans market statistics, including ceiling fans industry global market size, regional shares, competitors with a ceiling fans market share, detailed ceiling fans market segments, market trends and opportunities, and any further data you may need to thrive in the ceiling fans industry. This ceiling fans market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 growth of 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.
In December 2021, Griffon Corporation, US-based management, and holding company acquired Hunter Fan Company for an undisclosed amount. The acquisition is expected to enhance Griffon’s product portfolio while accelerating its growth and online market presence. Hunter Fan Company is a US-based manufacturer of ceiling fans.
The countries covered in the ceiling fans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
|No. of Pages||175|
|Forecast Period||2022 – 2026|
|Estimated Market Value (USD) in 2022||$9.57 billion|
|Forecasted Market Value (USD) by 2026||$11.82 billion|
|Compound Annual Growth Rate||5.4%|
Key Topics Covered:
1. Executive Summary
2. Ceiling Fans Market Characteristics
3. Ceiling Fans Market Trends And Strategies
4. Impact Of COVID-19 On Ceiling Fans
5. Ceiling Fans Market Size And Growth
5.1. Global Ceiling Fans Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Ceiling Fans Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Ceiling Fans Market Segmentation
6.1. Global Ceiling Fans Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Standard Fan
- Decorative Fan
- High Speed Fan
- Energy Saving Fan
- Other Types
6.2. Global Ceiling Fans Market, Segmentation By End Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Global Ceiling Fans Market, Segmentation By Distribution Channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Ceiling Fans Market Regional And Country Analysis
7.1. Global Ceiling Fans Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Ceiling Fans Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
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