Selbyville, Delaware, June 11, 2024 (GLOBE NEWSWIRE) --
Ceiling Fan Market size will record USD 16.3 billion by 2032. The energy efficiency initiatives, in line with consumer preferences for eco-friendly appliances, will catalyze industry progression over 2024–2032.
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Technological breakthroughs have led to the development of energy-efficient ceiling fans with advanced features, meeting the evolving demands of environmentally conscious consumers. With a focus on sustainability and reduced energy consumption, these innovations are driving market expansion as consumers increasingly opt for eco-friendly cooling solutions that offer both comfort and environmental benefits.
For instance, in June 2022, Signify introduced silent ceiling fans, EcoLink AeroFlo, in India, featuring aerodynamic blades and a high-performance motor promising superior airflow of 240 cu.m/min. The robust motor design and double ball bearings ensure high performance with minimal noise. This development suggests a growing demand for ceiling fans that offer enhanced performance and comfort, which could influence similar innovations and preferences in the global ceiling fan industry, driving demand for technologically advanced and quieter models.
4 blades ceiling fans to gain traction
The 4 blades ceiling fan market size will undergo a considerable upturn from 2024 to 2032, driven by consumer preference for the balance between airflow and aesthetic appeal provided by four-blade ceiling fans. With their efficient performance and sleek design, 4-blade fans are popular choices for both residential and commercial spaces. Additionally, manufacturers often offer a wide variety of styles and finishes within this segment, further driving its popularity and solidifying its position as the preferred choice in the market.
Industrial sector to sustain its significance in the end-use segment
The ceiling fan market share from the industrial segment will observe a noteworthy upsurge by 2032, propelled by the substantial demand for ceiling fans in industrial settings such as warehouses, factories, and commercial buildings. Industrial-grade ceiling fans are essential for maintaining optimal airflow and temperature regulation in large spaces, contributing to improved employee comfort and productivity. Additionally, the industrial sector's steady expansion and ongoing infrastructural developments further bolster the demand for ceiling fans, solidifying the segment's leading position in the market.
North America to establish a notable presence
North America ceiling fan market will register a remarkable market CAGR from 2023 to 2032, propelled by high levels of residential construction and renovation activities, increasing consumer preference for energy-efficient home appliances, and the widespread adoption of ceiling fans as a cost-effective cooling solution. Moreover, the presence of established manufacturers and robust distribution networks will further strengthen North America's position as a key contributor to the ceiling fan industry.
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Ceiling Fan Market Players
Companies including Emerson Electric Co., Shell Electric Holdings Ltd., Casablanca Fan Company, Hunter Fan Company, The Henley Fan Company, Crompton Greaves, and Panasonic are operating in the ceiling fan industry.
These ceiling fan market players are augmenting their share by investing in research and development to introduce innovative designs and energy-efficient technologies that resonate with consumer preferences. Additionally, they are expanding their distribution networks to reach a wider audience and enhance brand visibility. Furthermore, they are leveraging marketing campaigns and promotional activities to highlight the benefits of their products, thus solidifying their competitive position and increasing their market share in the market.
In April 2024, Bajaj Electricals unveiled a new range of ceiling fans, marking its debut digital campaign for its premium brand Nex. The Dryft and Glyde series promises innovative features, enhancing home comfort and setting a new standard in fan technology.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Ceiling fan Industry 360º synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Product type trends
2.5 Type trends
2.6 No. of blades trends
2.7 Blade length trends
2.8 Price range trends
2.9 End-Use trends
2.10 Distribution channel trends
Chapter 3 Ceiling Fan Industry Insights
3.1 Industry ecosystem analysis
3.2 Raw material analysis
3.3 Key news and initiatives
3.3.1 Partnership/Collaboration
3.3.2 Merger/Acquisition
3.3.3 Investment
3.3.4 Product launch & innovation
3.4 Regulatory landscape
3.5 Impact forces
3.5.1 Growth drivers
3.5.2 Industry pitfalls & challenges
3.6 Consumer buying behavior analysis
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
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