Ceiling Fans Market

Global Ceiling Fans Market Size, Share & Trends Analysis Report By Product (Standard, and Decorative), By Type (Indoor, and Outdoor), By Size, By Distribution Channel (Offline, and Online), By Application, By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23229 Publication Date: June-2024 Number of Pages: 416
2023
USD 14 Billion
2031
USD 20.4 Billion
CAGR
4.9%
Historical Data
2020 to 2022

Market Report Description

The Global Ceiling Fans Market size is expected to reach $20.4 billion by 2031, rising at a market growth of 4.9% CAGR during the forecast period. In the year 2023, the market attained a volume of 1,35,326.0 thousand units, experiencing a growth of 12.3% (2020-2023).

Outdoor ceiling fans help create a more enjoyable outdoor experience by mitigating the discomfort caused by heat and humidity. Thus, Outdoor segment acquired $3,865.6 million revenue in 2023. They enable individuals to spend more time outdoors, whether enjoying a meal with family and friends or simply lounging on a patio sofa. As a result, the demand for outdoor ceiling fans has surged among homeowners, hospitality businesses, and commercial establishments catering to outdoor gatherings.

Ceiling Fans Market Size - Global Opportunities and Trends Analysis Report 2020-2031

Rural areas often have limited access to modern appliances and may rely on traditional methods for cooling and ventilation. Manufacturers can service rural households and enter previously unexplored markets by introducing cost-effective ceiling fan models specifically tailored to their requirements. Hence, rural market expansion with affordable models propels the market’s growth.

Additionally, e-commerce platforms have made it easier for consumers to access a wider range of ceiling fan products from various manufacturers and retailers, increasing their options and choices. Online shopping allows consumers to browse and purchase ceiling fans from the comfort of their own homes, at any time and from any location, which has increased convenience and reduced the need for physical store visits. Therefore, expansion of the e-commerce sector is driving the growth of the market.

However, demand for ceiling fans peaks during warmer seasons, such as spring and summer, when temperatures rise, and households seek cooling solutions. In regions with hot climates or tropical weather patterns, the demand for ceiling fans may remain high for extended periods, driving sales during peak seasons. Therefore, seasonal demand fluctuations are hindering the growth of the market.

Ceiling Fans Market Share 2023

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

Driving and Restraining Factors
Ceiling Fans Market
  • Rise of outdoor living spaces
  • Rural market expansion with affordable models
  • Expansion of the e-commerce sector
  • Seasonal demand fluctuations
  • Limited product differentiation
  • Increasing smart and connected technologies
  • Emergence of solar-powered ceiling fans
  • Competition from alternative cooling solutions
  • Voltage and electrical compatibility concerns

Product Outlook

Based on product, the market is divided into standard and decorative. In 2023, the standard segment garnered a 63% revenue share in the market. In terms of volume, the standard segment utilized 78,556.7 thousand units of ceiling fans in 2023. Standard ceiling fans are typically more affordable compared to premium or specialized models, making them accessible to a larger segment of the population. This affordability factor particularly appeals to price-conscious consumers, including budget-conscious households, businesses, and industries seeking cost-effective cooling solutions.

Type Outlook

On the basis of type, the market is segmented into indoor and outdoor. In 2023, the outdoor segment attained a 28% revenue share in the market. In terms of volume, the outdoor segment would utilize 55,428.8 thousand units of ceiling fans by 2031. There has been a significant expansion in the use and design of outdoor living spaces, including patios, decks, gazebos, verandas, and outdoor kitchens. As households seek to extend their indoor living areas to the outdoors, the demand for outdoor ceiling fans has surged.

Ceiling Fans Market Share and Industry Analysis Report 2023

Size Outlook

Based on size, the market is categorized into small, medium, and large. In 2023, the medium segment registered a 54% share in the market. In terms of volume, the medium segment would utilize 92,901.8 thousand units of ceiling fans in 2031. Medium-segment ceiling fans balance affordability and features, making them appealing to many consumers. Medium-segment fans provide adequate functionality, performance, and aesthetics to satisfy the requirements of most households and businesses while remaining within their financial means despite not being as fundamental as entry-level fans. 

Distribution Channel Outlook

Based on distribution channel, the market is divided into online and offline. In 2023, the online segment procured a 24% revenue share in the market. In terms of volume, the online segment would sell 62,653.0 thousand units of ceiling fans in 2031. Online distribution channels make it easy for consumers to compare different ceiling fan models side by side, allowing them to evaluate features, prices, and customer reviews to make informed purchasing decisions. Comparison shopping online empowers consumers to find the best value for their money and ensures that they select the most suitable ceiling fan for their needs.

Application Outlook

By application, the market is divided into residential and commercial. In 2023, the residential segment registered a 69% share in the market. In terms of volume, the residential segment would utilize 1,27,526.7 thousand units of ceiling fans in 2031. Ceiling fans offer a cost-effective and energy-efficient cooling solution for residential spaces compared to air conditioning systems. They consume less electricity, resulting in lower utility bills, which makes them an appealing option for homeowners seeking to manage their cooling costs without sacrificing comfort.

Free Valuable Insights: Global Ceiling Fans Market size to reach USD 20.4 Billion by 2031

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed a 45% revenue share in the market in 2023. In terms of volume, the Asia Pacific region would utilize 1,02,817.7 thousand units of ceiling fans in 2031. The Asia Pacific region is densely populated, with a significant portion of the population residing in urban areas. In densely populated cities where space is limited and air conditioning may be impractical or unaffordable for some, ceiling fans offer a space-saving and cost-effective cooling solution.

Ceiling Fans Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 14 Billion
Market size forecast in 2031 USD 20.4 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 4.9% from 2024 to 2031
Quantitative Data Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2020 to 2031
Number of Pages 416
Number of Tables 970
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Product, Type, Size, Distribution Channel, Application, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Honeywell International, Inc., Crompton Greaves Consumer Electricals Limited, Havells India Ltd., Emerson Electric Co., Panasonic Corporation, Mitsubishi Electric Corporation, Shell Electric Holdings Limited, Orient Electric Limited (CK Birla Group), The Henley Fan Company, General Electric Company
Need a report that reflects how COVID-19 has impacted this market and its growth? Download Free Sample Now

List of Key Companies Profiled

  • Honeywell International, Inc.
  • Crompton Greaves Consumer Electricals Limited
  • Havells India Ltd.
  • Emerson Electric Co.
  • Panasonic Corporation
  • Mitsubishi Electric Corporation
  • Shell Electric Holdings Limited
  • Orient Electric Limited (CK Birla Group)
  • The Henley Fan Company
  • General Electric Company

Ceiling Fans Market Report Segmentation

By Product (Volume, Thousand Units, USD Billion, 2020-2031)

  • Standard
  • Decorative

By Type (Volume, Thousand Units, USD Billion, 2020-2031)

  • Indoor
  • Outdoor

By Size (Volume, Thousand Units, USD Billion, 2020-2031)

  • Medium
  • Small
  • Large

By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)

  • Offline
  • Online

By Application (Volume, Thousand Units, USD Billion, 2020-2031)

  • Residential
  • Commercial

By Geography (Volume, Thousand Units, USD Billion, 2020-2031)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

The Market size is projected to reach USD 20.4 billion by 2031.

Rise of outdoor living spaces are driving the Market in coming years, however, Seasonal demand fluctuations restraints the growth of the Market.

Honeywell International, Inc., Crompton Greaves Consumer Electricals Limited, Havells India Ltd., Emerson Electric Co., Panasonic Corporation, Mitsubishi Electric Corporation, Shell Electric Holdings Limited, Orient Electric Limited (CK Birla Group), The Henley Fan Company, General Electric Company.

The expected CAGR of this Market is 4.9% from 2023 to 2031.

The Indoor segment is generating the highest revenue in the Market by Type in 2023; thereby, achieving a market value of $14.5 billion by 2031.

The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $9.4 billion by 2031.

HAVE A QUESTION?

HAVE A QUESTION?

Call: +1(646) 600-5072

SPECIAL PRICING & DISCOUNTS


  • Buy Sections of This Report
  • Buy Country Level Reports
  • Request for Historical Data
  • Discounts Available for Start-Ups & Universities

Unique Offerings Unique Offerings


  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Support with 10% customization free after sale

Trusted by over
5000+ clients

Our team of dedicated experts can provide you with attractive expansion opportunities for your business.

Client Logo