Wilmington, Delaware, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Global Ceiling Fans Market was valued at US$ 10.8 billion in 2023 and is expected to grow at a significant CAGR of over 4.5% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Ceiling fans are electrical devices that are suspended from a room's ceiling and have revolving blades. They are intended to circulate air throughout a place, delivering a variety of benefits including cooling, enhanced ventilation, and energy efficiency.
Ceiling fans are a less expensive option for air conditioning. They use less electricity and can help you save money on your energy costs. Ceiling fans' economic benefits are encouraging their adoption in areas with high electricity bills.
- According to a deep-dive market assessment by RationalStat, the global ceiling fans market has been analyzed on the basis of market segments, including type, application, distribution channel and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global ceiling fans market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global ceiling fans market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Ceiling Fans Market: Segmental and Market Share Analysis
- On the basis of application, the residential market emerged as the dominant section, generating $7.3 billion in revenue in 2020. The segment is being driven by increased government activities in the residential sector to electrify households.
- On the basis of distribution channel, the online channel category is predicted to grow at the quickest CAGR of 5.1% from 2019 to 2025 since it offers consumer-friendly features such as cashback, free home delivery, and coupons.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 10.8 billion |
| Market Size Forecast | US$ 14.7 billion |
| Growth Rate | 4.5% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Leading players and brands operating in ceiling fans market adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global ceiling fans market include,
- In February 2023, Orient Electric Limited introduced the Orient Cloud 3, India's first cloud cooling fan, which uses Cloudchill Technology to assist in reducing the temperature by up to 12°C.
- In June 2022, Signify, the world leader in lighting, introduced the EcoLink AeroFlo silent ceiling fans in India. The fan has aerodynamically designed blades and is powered by a high-performance motor.
Some of the prominent players and suppliers operating and contributing significantly to the global ceiling fans market growth include Emerson Electric Co., Hunter Fan Company, CG Power and Industrial Solutions Limited, Shell Electric Holdings Limited, NuTone Inc., Orient Fans, Fantasia Ceiling Fans, Henley Fan, Creoven, and Westinghouse Electric Corporation, among others.
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RationalStat has segmented the global ceiling fans market based on type, application, distribution channel and region
- Global Ceiling Fans Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Standard Fan
- Decorative Fan
- High Speed Fan
- Energy Saving Fan
- Others
- Global Ceiling Fans Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Residential
- Commercial
- Global Ceiling Fans Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
- Offline
- Online
- Global Ceiling Fans Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Ceiling Fans Market
- US
- Canada
- Latin America Ceiling Fans Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Ceiling Fans Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Ceiling Fans Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Ceiling Fans Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Ceiling Fans Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Ceiling Fans Market
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Key Questions Answered in the Ceiling Fans Report:
- What will be the market value of the global ceiling fans market by 2030?
- What is the market size of the global ceiling fans market?
- What are the market drivers of the global ceiling fans market?
- What are the key trends in the global ceiling fans market?
- Which is the leading region in the global ceiling fans market?
- What are the major companies operating in the global ceiling fans market?
- What are the market shares by key segments in the global ceiling fans market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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