Dublin, September 6, 2021--(Business Wire)--ResearchAndMarkets.com has added the "Global Ceiling Fan Market Outlook to 2026" report.

The ceiling fan market has come a long way. From simple ventilation appliances to increasing the charm of rooms, marketers have introduced innovations within their budgets, which will increase the market by US$3.52 billion from 2015 to 2026. Spending on high-quality home furnishing products has driven the demand for ceiling fans with new and innovative features, such as interchangeable blades, lighting fans, and smart fans with voice control and connectivity and access to tablets and smartphones.

Due to the increase in consumer income and the increase in power supply, the demand for ceiling fans continues to increase, which further promotes the market. It is expected that by the end of the forecast period, market sales will increase by more than 185.4 million units.

Gone are the days when the ceiling fan's only job was to create some airflow in the room. Today's ceiling fans are equipped with modern technology that allows them to be equally efficient and very practical at the same time. In terms of product types, standard fans are the most popular type of ceiling fans, accounting for more than half of the global market. The popularity of standard fans can be attributed to their ease of use and cost-effectiveness. The standard fans are followed by decorative fans, high-speed fans, and energy-saving fans. Although the current generation understands the need to save energy, the energy-saving fan sector will have the lowest contribution at the end of the forecast period, at 740 million U.S. dollars. As people's awareness of various designs of house and commercial interior design continues to increase, the increase in interior decoration spending will enable the decorative fan segment to grow at an expected compound annual growth rate of 4.30%.

Since the outbreak of COVID-19, the growth of the home decoration industry has been erratic. Due to the ongoing pandemic crisis, with the exception of the ceiling fan industry, the overall performance of non-essential items such as decorative devices and bedding has declined. The Asia-Pacific region occupies a larger share of geographic market segments. This is followed by Europe, North America, the Middle East and Africa. The global ceiling fan market is driven by the growing housing sector, especially in developing economies. Urbanization in developing countries such as China and India is expected to play a key role in promoting new residential construction.

In addition, in the past few years, private and public sector banks in these countries have been providing housing loans with low interest rates and low down payments. This in turn supports the growth of the ceiling fan market in these two major economies, which together contributed 31% of the share in 2020.

The Middle East and Africa region is expected to become a potential growth market for ceiling fans, with a compound annual growth rate of 5.48% from 2021 to 2025. Consumers in African countries are increasingly aware of the benefits of ceiling fans, which has created a demand for ceiling fans. In addition, supportive government initiatives to provide electricity connections in rural areas in Burundi, Liberia, Niger, Malawi and Mozambique countries will continue to generate demand for this product in the coming years.

Market size by value during the time period (2015-2026F)

Market size by volume during the period (2015-2026F)

Market share by type (standard fans, decorative fans, high-speed fans, energy-saving fans, others)

Market share by size (small, medium and large)

Application market share (home and business)

Market share by sales channel (online and offline)

3. Global electric fan market outlook

5. North American Ceiling Fan Outlook

7. The outlook for ceiling fans in the Asia-Pacific region

8. Prospects for Ceiling Fans in Latin America

9. Prospects for ceiling fans in the Middle East and Africa

11.3. Double motor ceiling fan and advanced fan

11.4. Niche categories for aesthetic appearance

Crompton Greaves Consumer Electric Co., Ltd.

Henry Fan Co., Ltd.

For more information about this report, please visit https://www.researchandmarkets.com/r/j2nqd8

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