According to the latest report by IMARC Group, titled “Ceiling Fan Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global ceiling fan market reached a value of US$ 9.33 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 12.02 Billion by 2026, exhibiting a CAGR of 4.21% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Ceiling fans are mechanical fans that are powdered electronically and are mounted on the ceiling of enclosed spaces. They consist of rotating blades that move in a clockwise direction and assists in creating movements in still air and circulating it in the room. Their use aids in cooling the space effectively while requiring very little maintenance. They are characterized by their cost-effectiveness, energy-efficiency and an extended service life. Consequently, they are widely utilized across both the residential and commercial establishments.
Global Ceiling Fan Market Trends:
The global market is majorly driven by the considerable growth in the construction sector across the globe, especially in the domestic segment. There has been a significant expansion in the housing sector, especially across the developing economies. This is further supported by the numerous initiatives undertaken by the governments of various countries to expand housing projects and smart cities. They are also introducing various schemes to accommodate individuals with low- and middle-income levels in housing schemes. Since ceiling fans are one of the most commonly used appliances across households, this is providing an impetus to their uptake on the global level. Apart from this, manufacturers have also introduced several premium products that are gaining widespread prominence among the urban population. This, along with the inflating per capita income levels of the masses and an enhanced focus on improving the aesthetic appeal of homes, is expected to provide a boost to the sales of lighting and decorative fans with unique designs and sleek appearance. Some of the other factors contributing to the market growth include significant growth in retail and hospitality sectors, along with the easy product availability through online shopping portals.
Ceiling Fan Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global ceiling fan market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the global ceiling fan market on the basis of region, end-use, product type, fan size and distribution channel.
Performance of Key Regions:
- China
- India
- European Union
- United States
- Brazil
- Others
Breakup by End-Use:
- Residential
- Commercial
- Industrial
Breakup by Product 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
Explore Full Report with TOC List of Figure: https://bit.ly/3Cvx8GS
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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