The global celling fan market has witnessed a healthy growth over the past several years on account of numerous factors such as urbanisation, electrification of rural areas and demand for improved infrastructure.
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According to the latest report by IMARC Group, titled “Ceiling Fan Market – Global Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue”, the global ceiling fan market reached a value of US$ 8.6 Million in 2016, expanding at a CAGR of nearly 5% during 2009-2016. A ceiling fan is an electrically powered mechanical fan, suspended from the ceiling of a room, which uses hub-mounted rotating paddles to circulate air. It cools the space effectively by introducing slow movement into the still, hot air of a room and inducing evaporative cooling. Ceiling fans are extremely popular in developing countries as they are cost-efficient and have a long lifespan of more than 10 years.
Highlights of the global ceiling fan market:
- Rise in disposable incomes, and urbanisation and electrification of rural areas are driving the market.
- Residential sector represents the largest end-use segment of ceiling fans.
- Owing to a large population and warm climatic conditions, China is one of the largest producers of ceiling fans worldwide.
The global ceiling fan market is expanding on account of the surging construction industry. Increased infrastructural activities in both the developed and developing regions have led to the demand for improved infrastructure. Moreover, various governments in the developing countries have taken initiatives to make remote villages electrified. This is expected to generate a huge demand for ceiling fans in the future. Increasing industrialization rates, constant product innovations, and construction of new residential spaces are some of the other drivers that have further stimulated the market growth. Owing to the aforementioned factors, the global celling fan market is expected to reach US$ 10.6 Billion by 2022.
The market has been segmented on the basis of end-use. Residential applications dominate the global market followed by commercial applications. On the basis of product type, standard ceiling fans are the most popular, accounting for more than a half of the total share. The other product types include decorative fans, high speed fans and energy saving fans. The market has also been analysed on the basis of key regions. Currently, China represents the largest market for ceiling fans followed by India, European Union, United States and Brazil. The demand for ceiling fans in the region can be attributed to the huge population and the warm weather conditions witnessed during the hot summer months. On analysing the competitive landscape, it is found that Emerson fans, Hunter Fans, Crompton Greaves, Shell Electric MFG Co. Ltd., Nutone, and Orient Fans are the key global producers.
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The report by IMARC Group has examined global ceiling fan market on the basis of:
- European union
- United states
- Standard fan
- Decorative fan
- High speed fan
- Energy saving fan
- Emerson fans
- Hunter fans
- Crompton Greaves
- Shell Electric MFG Co. Ltd.
- Orient fans
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