September 13, 2022 10:00 ET | Source: Persistence Market Research Persistence Market Research

New York, New York, UNITED STATES

New York, Sept. 13, 2022 (GLOBE NEWSWIRE) -- The U.S. & Canada residential ceiling fan market was valued at US$ 4.12 Bn at the end of 2021 and is predicted to expand at a CAGR of 5.9% between 2022 and 2032, according to the latest industry report by Persistence Market Research.

Over the past few decades, the fan market has experienced immense growth in the U.S. and Canada. Modern customers tend to spend money on appliances that are durable and attractive. Along with comfort, customers also search for cost-efficient and advanced technology products.

Smart ceiling fans have become one of the prominent items in both, developed and developing cities, in the U.S. & Canada. The use of smart ceiling fans is not limited to only cooling but also help provide an elegant look to the house. One of the key enablers for smart ceiling fans has been the rising use of digital assistance and AI. Smart sensing technology helps analyze a room’s space and provide cooling accordingly.

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With continuous development and innovation in technology, fan manufacturers are focusing on IOT-enabled technology to provide better control and comfort. Market players are also trying to manufacture energy-saving products that will consume less energy and will thereby be budget-friendly.

Meanwhile, customized and theme designs of ceiling fans is also contributing toward the growth of the residential ceiling fan market in the U.S. & Canada. Overall, smart technology, durability, and attractiveness of residential fans is expected to drive market growth over the coming years.

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Key Takeaways from Market Study

“Premium designs, smart innovations, and the trend of expansion are driving the U.S. & Canada residential ceiling fan market. Also, omni-channel retailing and increasing e-Commerce penetration will aid market expansion,” says an analyst of Persistence Market Research.

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The report underlines groundbreaking insights into the competitive scenario of the U.S. & Canada residential ceiling fan market, along with the highlights of differential strategies used by manufacturers.

Some of the key players identified across the value chain include Minka Group, Kichler Lighting LLC, Progress Lighting (Hubbell Inc.), HINKLEY, INC, Quorum International Inc., Big Ass Fans, Craftmade International Inc., Fanimation, Generation Brands, LG Electronics Inc., and Honeywell International.

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Know More about Report Inclusions

Persistence Market Research published a new market report on the U.S. & Canada residential ceiling fan market, covering global industry analysis of 2017-2021 and forecasts for 2022 to 2032. This research report provides compelling insights on the basis of product type, usage, mounting type, and sales channel, across the U.S. & Canada.

The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.

Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.

Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.

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