Overview and Scope
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. It is used to evenly distribute and circulate the air that’s in the room and to improve the décor of the rooms.
Sizing and Forecast
The ceiling fans market size has grown steadily in recent years. It will grow from <b>$9.94 billion in 2023 to $10.35 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. </b> The growth in the historic period can be attributed to increased energy efficiency, increased interior design trends, increased climate variability, growth in population growth, rapid urbanization
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The ceiling fans market size is expected to see steady growth in the next few years. It will grow to <b>$12.34 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. </b> The growth in the forecast period can be attributed to increasing environmental awareness, increasing housing projects, market expansion in developing countries, rising disposable income, and increasing population. Major trends in the forecast period include technological advancements, cost-effective cooling solutions, integration with home automation, adoption of customized products, smart ceiling fans
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Segmentation & Regional Insights
The ceiling fans market covered in this report is segmented –
1) By Type: Standard Fan, Decorative Fan, High Speed Fan, Energy Saving Fan, Other Types
2) By End Use: Residential, Commercial
3) By Distribution: Offline, Online
<b>Asia-Pacific</b> was the largest region in the ceiling fans market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the ceiling fans market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
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 ceiling fans market growth.
Key Industry Players
Major companies operating in the ceiling fans market include <b> Emerson Electric Co., Del Mar Fans & Lighting, Crompton Greaves Consumer Electricals Limited, Shell Electric Mfg Co. Ltd., Broan-NuTone LLC, Minka Lighting Inc., Ajanta Electricals Pvt. Ltd., Big Ass Fans, Casablanca Group Ltd., The Henley Fan Company Ltd., Monte Carlo Fashions limited, Mega Home Appliances Pvt.Ltd., Havells India Ltd., Hunter Fan Company, Craftmade International Inc., Kichler Fans Co. Inc., Matthews Fans Co., Visual Comfort Fan Company, Quorum Fans, Modern Forms Fans, Westinghouse Fans, Fanimation Inc., Orient Electric Limited, Almonard Pvt. Ltd., Atomberg Technologies Pvt. Ltd., Bajaj Electricals Limited, Gorilla Fans, Khaitan Electricals Limited, Luminous Power Technologies Pvt. Ltd., Polar Industries Ltd., Superfan Co., Surya Roshni Limited, Usha International Limited </b>
The ceiling fans market report table of contents includes:
1. Executive Summary
2. Ceiling Fans Market Characteristics
3. Ceiling Fans Market Trends And Strategies
4. Ceiling Fans Market – Macro Economic Scenario
5. Global Ceiling Fans Market Size and Growth
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.
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31. Global Ceiling Fans Market Competitive Benchmarking
32. Global Ceiling Fans Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Ceiling Fans Market
34. Ceiling Fans Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Emerson Electric Co.
Del Mar Fans & Lighting
Shell Electric Mfg Co. Ltd
Broan-NuTone LLC
Minka Lighting Inc
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