Press Release

Global Electric Fan Market Is Expected To Grow Over A Difference Of 84.74 Million Units In Terms Of Volume From The Year 2020 To 2026: Bonafide Research

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Global Electric Fan Market Outlook, 2026

A fan is an electronic device that consumes power to generate circular air motion to generate a flow within the air. It is mainly used for cooling and circulating air and is widely used in homes, classrooms, offices, shops, hospitals and hotels, and other places. 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. The recent publication of Bonafide Research- ‘Global Electric Fan Market Outlook, 2026’ offers a valuable insight with an emphasis on the global market from the period of 2015 to 2026. The segments considered for the study include type, application, and end-use industry along the main regions. The report covers a detailed study on market drivers, restraints, opportunities, and challenges that are affecting the growth of this industry. It also aims to study the individual growth trends, prospects, and contributions of various segments to the total market. As the coronavirus disease (COVID-19) crisis takes over the world, the report includes the changes in the markets, as well as the purchase behaviors of the consumers globally, and our estimates about the latest market trends and forecasts, are being done after considering the impact of this pandemic.

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Growing urbanization in emerging economies is promoting the establishment of new residential buildings. Coupled with this, the increasing tendency of frequent interior renovations among the developing regions is expected to drive the market with a CAGR of over 4% through the forecasted period. Apart from this, the hike in disposable income among the young population and the increase in the global temperature is to be cited as the major contributor to the market growth. In terms of volume, the market is expected to grow over a difference of 84.74 Million Units from the year 2020 till the end of the forecasted period. As the governments in the developing economies have been working on providing shelters to low-income groups, the household application of the electric fan had witnessed growth to over 70% of the market in 2020. Growth in commercial real estate, hospitality, and retail sectors and a need for cost-cutting which leads to a reduction in the use of air conditioners are to drive the commercial end user segment for the fan. Moreover, large-sized electric fans are an economically feasible option to ventilate a big space with a large number of people such as warehouses & factories, when compared to ACs. Thus by the end of the forecasted period, the market is expected to grow with an anticipated CAGR of 5.21%.

Today, the electric fan market can be broadly classified into four major categories of ceiling fan, wall mount, table or desk, standing fans, and others including exhaust fans, cabinet fans, misting fan, and industrial fans, to name a few. Long gone are those days when a fan’s only job was to produce some airflow in the room. Today’s fans are while being extremely aesthetically appealing, equipped with modern technologies that enable them to be very functional while being equally efficient. The global fan market is dominated by the ceiling fan type, which accounts for over 45% of the global market throughout. Among the major segments of the electric fan, the standing floor fan segment is to show the lowest market value difference, expected to reach a value of USD 2.30 Billion by the end of the forecasted period. With the characteristics of saving the floor space, circulate air conditioning, and add instant evaporative air movement, the wall-mounted fan segment is expected to grow with the highest anticipated CAGR of 4.38%. The segment of desk/ table fan has gained immense popularity post the Covid outbreak, where employees working from home demanded a cost-effective and non-space consuming ventilation option.

The Asia Pacific is expected to dominate the global electric fan market, owing to rising infrastructural development and construction activities in emerging countries such as China, India, Japan, and many other developing countries in the region. The region held to a share of over 50% of the global market since 2015 and is to grow over the forecasted period. Middle East & Africa is which held to the second lowest growth in the global market, is expected to grow with the highest anticipated CGAR of 5.92%. North America is expected to register significant growth in the global market in terms of revenue, owing to increasing demand for customized or specifically designed electric fans in countries in the region. Increasing utilization and distribution of electric fans by retail outlets and online sales platforms to meet increasing demand from consumers is another factor expected to boost the growth of the target market. China has been leading the global fan market, with a share of over 20% in 2015, and ever since have been in a decreasing trend without compromising on its market dominance. The increasing demand for premium fans can be attributed to their high-performance efficiency and visual appeal. This has been the major reason for the growth of the electric fan market in the developed countries like the USA, UK, etc. The USA accounted for a share of 12.57% in the year 2015, which declined marginally to 12.04% by 2020.

Also, the increased spending on premium products of home decor is further propelling the demand for ceiling fans with new innovative features such as interchangeable blades and lighting fans, and smart fans with features such as voice control and connectivity access to tablets and smartphones. However, increasing use of air conditioners, stringent procedures associated with the testing of fans, and the threat from unorganized sectors may hamper the growth of the electric fan industry over the forecast period. Globally, Panasonic Corporation, Emerson Electric, and Westinghouse Electrics are the top 3 companies, which barely put up to 6.32% of the market. Other key 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, and others, including the unorganized players in Asian countries like China & India. There is no vast differentiation between fan products offered by different companies. More or less the fans offered by different companies come with the same limited specifications. Vendors are increasingly focusing on innovating their products to improve performance efficiency, design, appearance, and convenience offered by technologies. Manufacturers are also emphasizing the deployment of IoT in modern electric fans which can be controlled remotely through cloud computing technology.

We provide 10% free customization with this report, we have considered covid-19 effect for year 2020 and in forecast period.

CONSIDERED IN THE REPORT
• Geography: Global
• Base year: 2020
• Historical year: 2015
• Forecasted year: 2026

REGIONS COVERED:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

ASPECTS COVERED IN THE REPORT
• Market Size By Value for the time period (2015-2026F)
• Market Size By Volume for the time period (2015-2026F)
• Market Share by Type ( Ceiling, Wall Mount, Desk/ Table, Floor, Standing & others)
• Market Share by Application (Household & Commercial)
• Market Share by Region
• Market Share by Country
• Market Share by Company

To Access Complete Report:

 https://www.bonafideresearch.com/product/210319931/global-electric-fan-market

TABLE OF CONTENT

1. Executive Summary
2. Report Methodology
3. Global Electric Fan Market Outlook
3.1. Market Size
3.1.1. By Value
3.1.2. By Volume
3.2. Market Share
3.2.1. By Type
3.2.2. By Application
3.2.3. By Region
3.2.4. By Country
3.2.5. By Company
4. Global Ceiling Fan Outlook
4.1. Market Size
4.1.1. By Value
4.1.2. By Volume
4.2. Market Share
4.2.1. By Type
4.2.2. By Application
4.2.3. By Fan Size
4.2.4. By Sales Channel
4.2.5. By Region
4.2.6. By Country
5. North America Electric Fan Outlook
5.1. Market Size
5.1.1. By Value
5.1.2. By Volume
5.2. Market Share
5.2.1. By Type
5.2.2. By Application
5.2.3. By Country
5.3. North America Ceiling Fan Outlook
5.3.1. Market Size
5.3.1.1. By Value
5.3.1.2. By Volume
5.3.2. Market Share
5.3.2.1. By Type
5.3.2.2. By Application
5.3.2.3. By Fan Size
5.3.2.4. By Sales Channel
5.3.2.5. By Country
6. Europe Electric Fan Outlook
6.1. Market Size
6.1.1. By Value
6.1.2. By Volume
6.2. Market Share
6.2.1. By Type
6.2.2. By Application
6.2.3. By Country
6.3. Europe Ceiling Fan Outlook
6.3.1. Market Size
6.3.1.1. By Value
6.3.1.2. By Volume
6.3.2. Market Share
6.3.2.1. By Type
6.3.2.2. By Application
6.3.2.3. By Fan Size
6.3.2.4. By Sales Channel
6.3.2.5. By Country
7. Asia Pacific Electric Fan Outlook
7.1. Market Size
7.1.1. By Value
7.1.2. By Volume
7.2. Market Share
7.2.1. By Type
7.2.2. By Application
7.2.3. By Country
7.3. Asia Pacific Ceiling Fan Outlook
7.3.1. Market Size
7.3.1.1. By Value
7.3.1.2. By Volume
7.3.2. Market Share
7.3.2.1. By Type
7.3.2.2. By Application
7.3.2.3. By Fan Size
7.3.2.4. By Sales Channel
7.3.2.5. By Country
8. Latin America Electric Fan Outlook
8.1. Market Size
8.1.1. By Value
8.1.2. By Volume
8.2. Market Share
8.2.1. By Type
8.2.2. By Application
8.2.3. By Country
8.3. Latin America Ceiling Fan Outlook
8.3.1. Market Size
8.3.1.1. By Value
8.3.1.2. By Volume
8.3.2. Market Share
8.3.2.1. By Type
8.3.2.2. By Application
8.3.2.3. By Fan Size
8.3.2.4. By Sales Channel
8.3.2.5. By Country
9. Middle East & Africa Electric Fan Outlook
9.1. Market Size
9.1.1. By Value
9.1.2. By Volume
9.2. Market Share
9.2.1. By Type
9.2.2. By Application
9.2.3. By Country
9.3. Middle East & Africa Ceiling Fan Outlook
9.3.1. Market Size
9.3.1.1. By Value
9.3.1.2. By Volume
9.3.2. Market Share
9.3.2.1. By Type
9.3.2.2. By Application
9.3.2.3. By Fan Size
9.3.2.4. By Sales Channel
9.3.2.5. By Country
10. Market Dynamics
10.1. Key Drivers
10.2. Key Challenges
11. Market Trends and Developments
11.1. Bladeless Ceiling Fan
11.2. Anti- Dust Fan
11.3. Dual Motor Ceiling Fans & Premium Fans
11.4. Niche Categories for Aesthetic looks
12. Company Profiles
12.1.1. Big Ass Fans
12.1.2. Crompton Greaves Consumer Electricals Limited
12.1.3. Emerson Electric Co.
12.1.4. Havells India Limited
12.1.5. Hunter Fan Company
12.1.6. Minka Lighting Inc
12.1.7. Orient Electric
12.1.8. Panasonic Corporation
12.1.9. Shell Electric Holdings Limited
12.1.10. The Henley Fan Company Limited
12.1.11. Westinghouse Electric Company LLC
12.1.12. Company Overviews
12.1.12.1. Fantasia Ceiling Fans
12.1.12.2. Midea Group
12.1.12.3. Singfun Fans
12.1.12.4. Usha International Limited
13. Strategic Recommendations
14. Disclaimer

About us:

Bonafide Research is one of the fastest growing market research and consulting company. We are expert in syndicated research reports & custom research solutions across the domains. We have been closely working with fortune 500 clients by helping them in tracking the constantly changing market scenario. Bonafide has continuously made efforts to evolve and enhance the report quality with each passing day. In house, we have published 3500+ high quality research reports with major focus on Indian market. Our client base consists of BCG, Ernst & Young, PwC, McKinsey & Company, Inflexion, Nestle, Unilever, Crompton Greaves, SRF, CPF, Aramax.

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Contact Information:

Bonafide Research
Steven Thomas, AM – Content Marketing
[email protected]
Americas: +1 201 793 8545(NA)
Europe: +44 20 86385593
APAC: +91 7878231309
https://www.bonafideresearch.com/

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