Clifton, New Jersey, April 01, 2022 (GLOBE NEWSWIRE) -- The recent publication of Bonafide Research 'Global Electric Fan Market Outlook, 2026' offers valuable insights emphasizing the global market from 2015 to 2026. The global market is majorly driven by the considerable growth in the housing sector, especially across the developing economies; even in some countries, governments are working to provide shelters to low-income groups. Moreover, growing urbanization in emerging economies is promoting the establishment of new residential buildings and recently banks have been providing home loans with reduced interest rates and low down payments in many countries. The household application of the electric fan had contributed close to 70% value share in 2021. The commercial sectors such as warehouses & factories have a larger space compared to the residential areas and they are always in the need of cost-cutting.
Increasing disposable income and increasing affordability have increased the average selling price of the fans over the years and the trend is expected to continue. Today’s fans are while being extremely aesthetically appealing, equipped with modern technologies that enable them to be very functional while being equally efficient. The increasing tendency for frequent interior renovations and increased spending on premium home decor products propelling the demand for designer fans, lighting fans, energy-efficient, smart fans with features such as voice control and smartphone connectivity. Other than monetary reasons, environmental disturbance has been a major driver in the market. In the last two decades, the global temperature average has increased by 0.82 degrees Celsius according to the National Oceanic and Atmospheric Administration which is expected to drive the demand for Electric Fans. However, increasing use of air conditioners, stringent fan testing procedures, and the threat from unorganized sectors may hamper the growth of the electric fan industry over the forecast period.
Get a free sample report: https://www.bonafideresearch.com/samplereport/210319931/global-electric-fan-market
A new entry to the fan market is BLDC (Brushless Direct Current Motor) fan which consumes less energy and results in low power bills. BLDC motor uses permanent magnets, instead of electromagnets that are used in conventional motors. This motor converts the input of alternate current into direct current, and hence this technology works smoothly even at low voltage or power fluctuations. Manufacturers claim that the use of this technology reduces bills, by up to 50%.
The highest populated, Asia Pacific is dominating the global electric fan market, and the region contributed over 50% of the revenues the region is expected to increase its contribution over the forecasted period. China has been leading the global fan market, with a share of over 20% in 2015, and ever since has been in a decreasing share without compromising on its market dominance. China represents one of the largest producers and exporters of ceiling fans worldwide. Moreover, government schemes in India, such as “IPDS” and “DDUGJY”, are anticipated to positively influence the country’s electric fans market during the forecast period. Warm weather conditions along with the huge population are propelling the use of fans in the region. Middle East & Africa is expected to grow with the highest anticipated CGAR of 5.92%. The increasing demand for premium fans can be attributed to their high-performance efficiency and visual appeal. This has been the major reason for the growth of the electric fan market in developed countries. The USA accounted for a share of more than 10% in the year 2021. In terms of volume, the market is expected to grow over a difference of 84.74 Million Units from the year 2020 till the end of the forecasted period 2026.
The electric fan market is been categorized broadly into four major categories of ceiling fans, wall mounts, table or desk, standing fans, and others including exhaust fans, cabinet fans, to name a few. The global electric fan market is dominated by the ceiling fan type, which accounts for over 45% of the global market. The wall-mounted fan segment is expected to grow with the highest anticipated CAGR of 4.38%. The segment of desk/ table fan has gained immense popularity post the Covid outbreak, where employees working from home demanded a cost-effective and non-space consuming ventilation option.
Get customized report as per requirement:https://www.bonafideresearch.com/product/customize/210319931/global-electric-fan-market
Globally, Panasonic Corporation, Emerson Electric, and Westinghouse Electrics are the top 3 companies. Other key players in the market include Hunter Fan, Crompton, Shell Electric MFG Co. Ltd, Big Ass Fans, Minka Lighting, Orient Electric, Henley Fan, Fantasia, Midea Group, Singfun Fans, Usha International Limited, and others, including the unorganized players in Asian countries like China & India. There is no vast differentiation between fan products offered by different companies. More or less the fans offered by different companies come with the same limited specifications. Vendors are increasingly focusing on innovating their products to improve performance efficiency, design, appearance, and convenience offered by technologies. Manufacturers are also emphasizing the deployment of IoT in modern electric fans which can be controlled remotely through cloud computing technology.
Considered in this report
• Geography: Global
• Base year: 2020
• Historical year: 2015
• Forecasted year: 2026
TABLE OF CONTENT
Part 1: Executive Summary
Part 2: Report Methodology
Part 3: Global Electric Fan Market Outlook (Value & Volume)
Part 4: Global Ceiling Fan Outlook (Value & Volume)
Part 5: Regional Electric Fan Outlook (Value & Volume)
Part 6: Regional Ceiling Fan Outlook (Value & Volume)
Part 7: Country Market Size
Part 8: Market Dynamics
Part 9: Market Trends and Developments
Part 10: Company Profiles
Part 11: Strategic Recommendations
Part 12: Disclaimer
| Segmentation | Details |
| Market Share By Type |
|
| Market Share By Application |
|
| Market Share By Region |
|
| Market Share By Country |
|
| Key Players |
|
Please follow the link to buy the research report: https://www.bonafideresearch.com/buy-now/210319931
Note: The report covers a detailed study on market drivers, restraints, opportunities, and challenges that affect this industry's growth. It also aims to study the individual growth trends, prospects, and contributions of various segments to the total market. As the coronavirus disease (COVID-19) crisis takes over the world, the report includes the changes in the markets and the purchase behaviours of the consumers globally, and our estimates about the latest market trends and forecasts drawn from the impact of this pandemic.
Global Ceiling Fan Market Outlook, 2026
Long gone are those days when a ceiling fan’s only job was to produce some airflow in the room. Today’s ceiling fans are while being extremely aesthetically appealing, equipped with modern technologies that enable them to be very functional while being equally efficient. According to the report ‘Global Ceiling Fan Market Outlook, 2026’ by Bonafide Research, the ceiling fan market has come a long way, from a simple ventilation electric appliance to an added charm in the room, with the marketers bringing in innovation within the budget limits, which allowed the market to add USD 3.52 Billion from 2015 to 2026. The market is further aided by the increasing demand for ceiling fans due to affordability, low power consumption growing availability of electricity, cooling at a low velocity, ease of installation, allowing a volume growth of over 185.4 Million Units. Medium-sized ceiling fans have contributed over USD 7 Billion in 2020 as they are most suitable for a residential home. Lack of air circulation space in urban congested rooms and workplaces is expected to promote the utility of small fans. The large-sized electric fans are an economically feasible option and it is expected to grow with an anticipated CAGR of 5.21% till 2026.
Asia Pacific region has the largest market share while Latin America is expected to display exorbitant growth in the forecast period. China, India and USA together form over 40% market share. India is anticipated to grow rapidly over the forecast period owing to the rising population and hot and humid climate for the majority of the months. With the residential homes undergoing periodic changes and alterations, decorative fans of varied colours, embellishments, designs, prints and other features are gaining consumer attention. By application, households lead the ceiling fan market due to confined or small spaces and effective consumption. Consumers generally prefer to buy these ceiling fans by personally viewing the product and selecting the colour, design and functioning from the nearby stores rather than ordering from an online portal. However, today’s Millennial’s going tech-savvy prefer to order online to save time, energy and online portals lure in consumers by offering discounts.
Get a free sample report: https://www.bonafideresearch.com/samplereport/210319932/global-ceiling-fan-market
On the basis of fan type, ceiling fans are further segmented into Standard fans, Decorative fans, High-speed fans, Energy-saving fans and others. Of these, Standard ceiling fans have over 60% market capture while decorative and other types of fans are more demanded by consumers the segment grow with an anticipated CAGR of 4.30%. Even though the current generation understands the need for energy conservation, the energy-saving fan segment is expected to contribute USD 0.74 Billion by the end of the forecasted period.
The governments of various emerging countries have set up the goal of providing electricity to remote rural areas which is expected to influence the demand for ceiling fans in the upcoming future. Currently, the manufacturers are focused on high energy efficiency, better shelf-life, low power consumption, and cost-effective models, without compromising on their margins.
Aspects Covered In The Report
• Market Size By Value (2015-2026F)
• Market Size By Volume (2015-2026F)
• Market Share By Type (Standard Fan, Decorative Fan, High-Speed Fan, Energy Saving Fan, Others)
• Market Share By Size (Small, Medium & Large)
• Market Share By Application (Household & Commercial)
• Market Share By Sales Channel (Online & Offline)
• Market Share By Region
• Market Share By Country
• Market Share By Company
Related Report:
India Electric Fan Market: India Electric fan market is anticipated to grow at a CAGR of 12.35% during the forecast period ending 2025-26. The Indian market is heavily influenced by many small scales unorganized players capturing the market to the extent of almost 25% share in the year 2019-20. In total, 40 Million Units of electric fans are produced in India every year and out of these, 29 Million units are consumed within the country. India being a developed economy, where income inequality exists to a large extent, consumers prefer to buy cheap fans from local manufacturers. In terms of volume, it increased from 47.65 Million units to 64.70 Million units in 2025-26. Ceiling fans have the majority market capture followed by table fans in India. India Ceiling fan value in 2019-20 crossed over INR 6500 Crores and will continue to grow over the years to come. Pedestal fan is expected to display notable growth in future years. Eastern states of India have the least market for electric fans due to favourable weather and hilly regions. North India and West India constitute about 50% market share. Maharashtra, Karnataka and Tamil Nadu are the Indian states where the demand for electric fans is maximum.
CONTACT US:
Steven Thomas - Sales & Marketing Manager
E-mail: sales@bonafideresearch.com
Asia-Pacific: +91 7878231309
Europe: +44 20 8089 0049
North America: +1 201 793 8545
https://www.bonafideresearch.com/
Follow us on LinkedIn | Twitter
ABOUT US:
Bonafide Research is the fastest growing global market research and consulting company providing syndicated research reports, customized research reports, and consulting services to a range of verticals. We have been closely working with a wide client base ranging from Fortune 1000 companies to small and medium enterprises by helping them in tracking the constantly changing market scenario.
Bonafide has continuously made efforts to evolve and enhance the report quality with each passing day. Bonafide Research has a strong base of analysts and consultants from assorted areas of expertise who track the latest economic, demographic, trade and market data globally and help clients to make informed business decisions. We periodically update our market research studies to ensure that our clients get the most recent, relevant, actionable and valuable information for strategy development and to extract tangible results.
