Press Release

Global Ceiling Fan Market to Grow at a CAGR of 3.0% During 2024-2032, Driven by Growing Demand for Energy-Efficient Modern Designs

Global Ceiling Fan Market

According to a new report by EMR titled, ‘Global Ceiling Fan Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 10.17 billion in 2023. The market is further expected to grow at a CAGR of 3.0% between 2024 and 2032, to reach a value of almost USD 13.26 billion by 2032.

Ceiling fans are essential for cooling spaces and saving energy costs. Modern ceiling fans feature functional and unique designs with innovative materials and neutral and sophisticated colours such as matte black, brushed nickel, and satin brass. A major trend in the ceiling fan market is the integration of smart technology, such as automation, voice control, and remote-control capabilities. Some fans can also sense temperature, air quality or humidity changes and can automatically adjust their settings to create a comfortable environment for room occupants.

 

With the rising demand for sustainability and energy efficiency, there is a rising preference for energy-efficient fans that provide monetary benefits to users. For instance, in the United States of America, there is a rising adoption of energy star-rated fans designed to meet the United States Environmental Protection Agency (US EPA) criteria concerning performance, quality, and efficiency of fans. Further, integrating LED lighting into ceiling fan also helps homeowners lower their utility bills while providing efficient lighting with multiple degrees of colour temperatures.

 

These fans are widely sold through brick-and-mortar/physical stores where distributors have strong relationships with retailers. However, consumers are gravitating towards online channels, such as Amazon.com Inc (NASDAQ: AMZN) and are increasingly using the same to purchase appliances, including ceiling fans.

 

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Market Breakup by Type, Fan Size, Distribution Channel, End Use, and Region:

  • The market is segmented based on type into standard fan, decorative fan, high speed fan, energy saving fan, and others.
  • By fan size, the market is segmented into small, medium, and large.
  • By distribution channel, the market is bifurcated into offline and online.
  • By end use, the market is segmented into residential and commercial.
  • Region-wise, the global market for ceiling fans can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • Modern fan designs with sophisticated and innovative models are rising in popularity among consumers.
  • The integration of smart technology, such as automation, voice control, and mobile application compatibility in fans provides convenience to consumers. These fans offer consumers the capability to remotely adjust fan speed and direction without needing to change their position.
  • Sustainability and energy efficiency are crucial growth drivers for ceiling fans. Fans designed to meet the Energy Star Ratings are being increasingly demanded by consumers to save money and the environment.
  • Consumers are also demanding fans made of materials, such as reclaimed wood and recycled materials, to protect the environment and enhance home aesthetics and functionality.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global ceiling fan market for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, fan size, distribution channel, end use, and major regions of ceiling fan.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the ceiling fan market are Crompton Greaves Consumer Electricals Limited, Emerson Electric Co., Hunter Fan Company, Ajanta Electricals, Del Mar Fans & Lighting, The Henley Fan Company Ltd., and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Fan Size
  • Distribution Channel
  • End Use
  • Region
Breakup by Type
  • Standard Fan
  • Decorative Fan
  • High Speed Fan
  • Energy Saving Fan
  • Others
Breakup by Fan Size
  • Small
  • Medium
  • Large
Breakup by Distribution Channel
  • Offline
  • Online
Breakup by End Use
  • Residential
  • Commercial
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Crompton Greaves Consumer Electricals Limited
  • Emerson Electric Co.
  • Hunter Fan Company
  • Ajanta Electricals
  • Del Mar Fans & Lighting
  • The Henley Fan Company Ltd.
  • Others

 

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

 

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

 

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