DUBLIN--(BUSINESS WIRE)--ResearchAndMarkets.com has added the "Global Electric Fan Market Outlook to 2026" report.

The global market is mainly driven by the significant growth of the global construction industry, especially in the domestic sector.

The housing sector has seen significant expansion, especially in developing economies. The recently published "Global Electric Fan Market Outlook 2026" provides valuable insights, focusing on the global market from 2015 to 2026. The market segments considered in the study include type, application, and end-use industries. area.

The report has studied in detail the market drivers, constraints, opportunities and challenges affecting the growth of the industry.

It also aims to study the individual growth trends, prospects and contributions of various market segments to the overall market. As the coronavirus disease (COVID-19) crisis sweeps the world, the report includes market changes and global consumer buying behavior, as well as our estimates of the latest market trends and forecasts, which will be completed later taking into account the impact of this epidemic.

The growing urbanization of emerging economies is driving new residential buildings. In addition, the trend of frequent interior decoration in developing regions is expected to drive the market at a compound annual growth rate of over 4% during the forecast period.

In terms of quantity, from 2020 to the end of the forecast period, the market is expected to increase by 84.74 million units. As the governments of developing economies have been committed to providing shelters for low-income groups, the household application of electric fans will increase to more than 70% of the market in 2020.

The growth of the commercial real estate, hotel and retail industries and the need for cost-cutting leading to reduced air-conditioning use will drive the commercial end-user segmentation of fans. In addition, compared with air conditioners, large electric fans are an economical and feasible option for ventilating large spaces with many people such as warehouses and factories. Therefore, by the end of the forecast period, the market is expected to grow at a CAGR of 5.21%.

The global fan market is dominated by ceiling fans, accounting for more than 45% of the global market. Among the main segments of electric fans, the market value of the floor fan segment has the smallest difference, which is expected to reach US$2.3 billion by the end of the forecast period.

Due to increasing infrastructure development and construction activities in emerging countries such as China, India, Japan, and many other developing countries in the region, the Asia-Pacific region is expected to dominate the global electric fan market.

Since 2015, the region has accounted for more than 50% of the global market and will grow during the forecast period. The Middle East and Africa maintained the second lowest growth rate in the global market and is expected to grow with the highest expected CGAR growth of 5.92%.

Due to the increasing demand for customized or specially designed electric fans in countries in the region, North America’s revenue in the global market is expected to increase significantly.

Retail stores and online sales platforms increase the use and distribution of electric fans to meet the growing needs of consumers, which is another factor that is expected to drive the growth of the target market. China has always led the global fan market, with a share of more than 20% in 2015, and has been on a downward trend since then, but it does not affect its market dominance.

The growing demand for high-quality fans can be attributed to their high-performance efficiency and visual appeal. This is the main reason for the growth of the electric fan market in developed countries such as the United States and the United Kingdom. The share of the United States in 2015 was 12.57%, and it will drop slightly to 12.04% in 2020.

Globally, Panasonic, Emerson Electric and Westinghouse Electric are the top three companies, accounting for 6.32% of the market share.

Other major players in the market include Hunter Fan, Crompton, Shell Electric MFG Co. Ltd, Big Ass Fans, Minka Lighting, Orient Electric, Henley Fan, Fantasia, Midea Group, Singfun Fans, Usha International Limited, etc., including unorganized Players from Asian countries such as China and India. There is not much difference between the fan products provided by different companies. Fans provided by different companies have more or less the same limited specifications. Suppliers are increasingly focusing on product innovation to improve the performance efficiency, design, appearance and convenience provided by technology. Manufacturers also emphasize the deployment of the Internet of Things in modern electric fans that can be remotely controlled through cloud computing technology.

For more information about this report, please visit https://www.researchandmarkets.com/r/4cgsu1

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900