Electric fans market size to grow by USD 3,604.96 million from 2022 to 2027; Growth driven by rising demand for premium fans

new york, April 21, 2023 /PR Newswire/ — Global electric fan market size is US$3,604.96 million Between 2022 and 2027. The market growth momentum will progress at a CAGR of 3.96% during the forecast period. The market is driven by growing demand for premium fans. These fans offer greater performance efficiency and visual appeal. They are perceived as status symbols. Premium fans also complement the room’s contemporary design and enhance the aesthetics of your living space. These factors are increasing consumer demand for premium fans. To meet the growing demand, vendors in the market offer a wide range of premium fans that are stylish, energy efficient and consume less power. Bajaj Electricals, for example, offers a variety of designer his fans, including his Ornio, a fast-running shankless ceiling fan. As a result, the market size will expand during the forecast period. Before purchasing the full report, discover some key insights on market size, historical period (2017-2021) and forecast period (2023-2027)- Request a sample report

Global Electric Fan Market – Vendor Analysis

The global fan market is fragmented with multiple vendors. The market is driven by rapidly changing consumer demands and preferences. Changing consumer preference patterns can impact a vendor’s performance in the market. It may also be affected by global and regional economic conditions and various other demographic trends. Vendors compete based on several factors including quality, price, service, brand image, distribution and marketing. In addition, we are also focusing on acquiring other smaller brands to increase our presence in the market. All these factors will increase the competition in the market during the forecast period. Key vendors featured in the report include:

• Crompton Greaves Consumer Electricals Ltd. – The company offers the ES 6 fan with built-in Bluetooth handheld remote, mobile application and voice control.

• emerson electric company – The company offers Elite Range Aero fans designed with curved blades for better airflow movement and consumes 60% less power than standard ceiling fans.

• fantasia ceiling fan -The company offers electric air fans designed with green bionic noise reduction fan blades, along with uneven wavy shapes to improve airflow.

• Haier Smart Home Co., Ltd. -The company offers Stealth Air Cruise electric fans designed with Aerofoil profile blades to deliver large volumes of air.

• Luminous Holdings LLC

• Delta T LLC

• Fantech Co., Ltd.

• GREE ELECTRIC APPLIANCES INC. Zhuhai

• Hubbells India

• Hunter Fun Co., Ltd.

• lian lee

• Midea Group Co., Ltd.

• Minka Lighting Co., Ltd.

• Orient Electric Co., Ltd.

• Panasonic Holdings Co., Ltd.

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Global Electric Fan Market-Segmentation Assessment

Segment overview
Technavio focuses on products (ceiling fans, door fans, wall fans), distribution channels (offline and online), geographies (APAC, Europe, North America, south americaand middle east and Africa).

Market growth of the ceiling fan segment will be significant over the forecast period. Ceiling fans offer improved safety and cooling efficiency compared to floor fans. Additionally, increasing use of ceiling fans as decorative fixtures and product innovation by vendors will boost the growth of this segment. Increasing demand for luxury ceiling fans is another factor driving the growth of the segment.

geography overview
The report offers actionable insights and estimates the contribution of every region to the growth of the global electric fan market.

• APAC will account for 41% of market growth during the forecast period. The growth of the regional market is driven by various factors such as increasing government initiatives for the housing sector, cost-effective fan supply chains, increasing demand for high-end fans, and product innovation. Increasing consumer spending on homes and apartments will further drive the growth of the Asia-Pacific electric fan market during the forecast period.

Insights on global, regional and country level parameters with growth opportunities from 2017 to 2027 – Download a sample report

Global electric fan market – market dynamics

Key trends –

Growing demand for customized fans has been identified as a major trend in the market. Consumer interest in personalized home décor is on the rise. This has increased the demand for expensive and customized fans among consumers in both developed and developing countries. became. For example, Emerson Electric manufactures and offers customized fans with different lighting fixtures and different blade shapes. Similarly, Bajaj Electricals offers fans a variety of designs and themes such as Avengers, Princesses and Winnie the Pooh to attract consumers.

Key challenges –

Increasing use of air conditioners will challenge the growth of the market. Air conditioners are increasingly being adopted by consumers around the world due to their effective cooling capabilities. With rising disposable income and increasing consumer demand for convenience, the demand for air conditioners is increasing. In addition, the air conditioner is equipped with a temperature control function, which combines the functions of a cooler and an air conditioner. Such factors limit the adoption of electric fans and negatively affect the market growth.

Drivers, trends, and challenges also influence market dynamics and businesses. Check out the details in the sample PDF report.

What are the key data covered in this Fan market report?

• CAGR of the market during the forecast period

• Detailed information on the factors driving the growth of the electric fan market during the period 2023-2027

• Accurate Estimation of Electric Fan Market Size and Contribution to Parent Market

• Accurate prediction of upcoming trends and changes in consumer behavior

• The growth of the electric fan market across APAC, Europe, North America, south americaand middle east and Africa

• In-depth analysis of market competitive landscape and vendor details

• Comprehensive Analysis of Factors Challenging the Growth of Electric Fan Market Vendors

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table of contents:

1.executive summary

2 Market Outlook

3 Market size

4 Historical market size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Distribution Channel

8 Customer Situation

9 Geographical landscape

10 drivers, challenges and trends

11 Vendor Landscape

12 vendor analysis

13 Appendix

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