Ceiling Fan Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global ceiling fan market was worth US$ 9,288 Million in 2018, registering a CAGR of 4.7% during 2011-2018. The market value is further projected to reach US$ 11,332 Million by 2024, growing at a CAGR of 3.3% during 2019-2024. Ceiling fans refer to electrically powered mechanical devices that are suspended from the ceiling of a room to circulate air. They induce evaporative cooling and slow movement into the still, thereby cooling the hot air in the room effectively. Ceiling fans have hub-mounted rotating paddles which move much slower when compared with electric desk fans. They are highly preferred by consumers due to their advantageous properties over air-conditioners like high energy-efficiency, better shelf-life, low power consumption and cost-effectiveness.
Global Ceiling Fan Market Drivers:
Growth in the housing sector is boosting the demand for ceiling fans, especially in the developing economies. For instance, the governments of China and India are coming up with new schemes to provide shelter to the low- and middle-income groups. In addition to this, development in the commercial real estate, hospitality and retail sectors are bolstering the market growth.
The demand for ceiling fans has been rapidly increasing due to rising income levels of the consumers and increasing availability of electricity. Moreover, manufacturers are introducing premium products such as lighting fans, decorative fans, etc. which offer higher margins, thereby increasing their profitability.
The governments of various emerging countries have set up the goal of providing electricity to the remote rural areas which is expected to influence the demand for ceiling fans in the upcoming future. For instance, India has aimed to supply electricity to more than a million households.
Breakup by Product Type:
On the basis of product types, standard fans represent the most popular type of ceiling fans, accounting for more than a half of the total global market. The popularity of standard fans can be attributed to their easy usage and cost-effectiveness. Standard fans are followed by decorative fans, high-speed fans, energy saving fans and others.
Breakup by Fan-size:
Based on fan-sizes, medium-sized fans represent the largest segment, holding around three-fourths of the market share. They can be easily installed, provide cooling at a lower velocity and are affordable by the middle-income group. Medium-sized fans are followed by small-sized and large-sized fans.
Breakup by End-use:
The global ceiling fan market has also been bifurcated on the basis of end-use into the residential and commercial sectors. Amongst these, the residential sector holds the largest share due to ongoing constructional activities across the globe.
Breakup by Distribution Channel:
On the basis of distribution channels, offline stores are majorly preferred by the consumers as they can physically examine ceiling fans and instantly purchase the product. Offline stores are followed by online stores.
Region-wise, China represents one of the largest producers and exporters of ceiling fans worldwide. Warm weather conditions along with the huge population are majorly propelling the consumption of ceiling fans in the region. It is followed by India, European Union, the United States and Brazil.
The market is fragmented due to the presence of various small and large manufacturers. Some of the leading players in the market are:
Emerson Electric Co.
Shell Electric MFG Co. Ltd.
This report provides a deep insight into the global ceiling fan market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a ceiling fan manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the ceiling fan industry in any manner.
Key Questions Answered in This Report:
How has the global ceiling fan market performed so far and how will it perform in the coming years?
What are the key regions in the global ceiling fan market?
What are the major fan-size segments in the global ceiling fan market?
What are the key end-use segments in the global ceiling fan market?
What are the key product types in the global ceiling fan market?
What are the major distribution channels in the global ceiling fan market?
What are the price trends of ceiling fans?
What are the various stages in the value chain of the global ceiling fan industry?
What are the key driving factors and challenges in the global ceiling fan industry?
What is the structure of the global ceiling fan industry and who are the key players?
What is the degree of competition in the global ceiling fan industry?
What are the profit margins in the global ceiling fan industry?
What are the key requirements for setting up a ceiling fan manufacturing plant?
How are ceiling fans manufactured?
What are the various unit operations involved in a ceiling fan manufacturing plant?
What is the total size of land required for setting up a ceiling fan manufacturing plant?
What are the machinery requirements for setting up a ceiling fan manufacturing plant?
What are the raw material requirements for setting up a ceiling fan manufacturing plant?
What are the packaging requirements for ceiling fans?
What are the transportation requirements for ceiling fans?
What are the utility requirements for setting up a ceiling fan manufacturing plant?
What are the manpower requirements for setting up a ceiling fan manufacturing plant?
What are the infrastructure costs for setting up a ceiling fan manufacturing plant?
What are the capital costs for setting up a ceiling fan manufacturing plant?
What are the operating costs for setting up a ceiling fan manufacturing plant?
What will be the income and expenditures for a ceiling fan manufacturing plant?
What is the time required to break-even?
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