The global ceiling fans market is anticipated to reach USD 12.5 billion by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 4.3% during the forecast period, 2019 to 2025. Convenient ceiling fans with smart features that support voice control operations and can be easily connected to smartphones are gaining traction among the consumers across the globe. Moreover, government schemes that provide electricity connection to the remote areas in countries such as India, Mexico, Bangladesh, and China are anticipated to drive the product demand from 2010 to 2025.
In 2018, the standard product segment held the largest revenue share owing to high affordability and availability of the product. Moreover, manufactures are launching high velocity ceiling fans that help in saving energy. Thus, it is anticipated to accelerate the demand from commercial and residential sectors. Medium sized fan segment held the largest market share in 2018 owing to ease of accessibility and effective air-cooling feature.
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Small sized fan segment is expected to grow at the fastest CAGR of 7.7% over the forecast period owing to requirement of better air circulation in suffocating rooms and cabins. This product is majorly used in kitchens and balconies to provide effective air circulation.
Asia Pacific dominated the ceiling fan market in 2018 and is anticipated to maintain its dominance over the forecast period. Rapid urbanization, rising disposable income levels of middle-class population, and assistance provided by private and public sector banks that give loans at lower interest rates in Asian countries such as India, Philippines, China, and Bangladesh is anticipated to drive the regional market growth from 2019 to 2025.
The Leading players are concentrating on product innovations and expanding their distribution network across online and offline channels.
Further key findings from the report suggest:
- In 2018, the medium sized fan segment accounted for the revenue share of USD 7.1 billion.
- The segment of online distribution channels is projected to grow at a CAGR of 5.1% over the forecast period owing to convenience, doorstep delivery, and hassle free return policy
- By 2025, application of ceiling fans across the residential sector is anticipated to hold the ceiling fans market share exceeding 70%.
- In 2018, Asia Pacific held the largest market share of 51.9% due to rising demand from middle-class population in developing countries such as India and China
Top Key players profiled the Ceiling Fans market report include : Emerson Electric Co., Crompton Greaves, Hunter Fan Company, NuTone, Shell Electric MFG Co. Ltd., Ajanta Electricals, Big Ass Fans, Mega Home Appliances, The Henley Fan Company Ltd. and Del Mar Fans & Lighting.
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The global smart ceiling fans market size is expected to reach USD 993.6 million by 2025, according to a new report by Radiant Insights, Inc.
Rising demand for convenient products coupled with rapid adoption of advanced technology is projected to drive the growth.
Residential application segment held the largest market share exceeding 80% in terms of revenue in 2018.
Rising adoption of smart home appliances in developing economies including China and India is expected to promote the growth.
; Ottomate International; Modern Form; Minka Lighting Inc.; OCECO; Fanimation; Havells India Ltd.; and CG Power and Industrial Solutions Limited.
Industry Value Chain Analysis 3.3.1.
DecisionDatabases recently present the global Ceiling Fans Market research report 2020 which reveals an extensive analysis of the global industry by delivering detailed information about upcoming market growth, trends, customer expectations, technological improvements, competitive dynamics, top manufacturers' assessment, and working capital in the industry.
This is an in-depth study of the market enlightening key forecast to 2025.A ceiling fan rotates much more slowly than an electric desk fan; it cools people effectively by introducing slow movement into the otherwise still, hot air of a room, inducing evaporative cooling.
Fans never actually cool air, unlike air-conditioning equipment, but use significantly less power (cooling air is thermodynamically expensive).
Conversely, a ceiling fan can also be used to reduce the stratification of warm air in a room by forcing it down to affect both occupants’ sensations and thermostat readings, thereby improving climate control energy efficiency.According to this study, over the next five years the Ceiling Fans market will register a 2.3% CAGR in terms of revenue, the global market size will reach US$ 4410 million by 2024, from US$ 3850 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Ceiling Fans business, shared in Chapter 3.Browse the complete Ceiling Fans market Report and TOC @ https://www.decisiondatabases.com/ip/14714-ceiling-fans-market-analysis-reportThe key manufacturers covered in this report:Hunter Fan CompanyCasablancaEmerson Ceiling FansMinkaMonte CarloCraftmadeLitexFanimationKichlerPanasonicCrompton GreavesOrient fansUshaHavells IndiaSMCACCMideaMOUNTAINAIRKing of Fans, IncAirmateSegmentation by product type:AC Ceiling FansDC Ceiling FansSegmentation by application:HomeCommercialThis report also splits the market by region:AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapan…….Download Free Sample Report of Global Ceiling Fans Market Report @ https://www.decisiondatabases.com/contact/download-sample-14714Research objectivesTo study and analyze the global Ceiling Fans consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of Ceiling Fans market by identifying its various subsegments.Focuses on the key global Ceiling Fans manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Ceiling Fans with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the consumption of Ceiling Fans submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.Purchase the complete Global Ceiling Fans Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-14714Other Reports by DecisionDatabases.com:Global Range Hood Fans Market Growth 2019-2024 @ https://www.decisiondatabases.com/ip/19058-range-hood-fans-market-analysis-report2017-2022 Japan Centrifugal Fans Market Report (Status and Outlook) @ https://www.decisiondatabases.com/ip/15912-japan-centrifugal-fans-market-analysis-reportAbout-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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