The Ceiling Fans Market is Predict to reach USD 20.4 Billion by 2031, at a CAGR of 4.9%

25-Jun-2024 | Report Format: Electronic (PDF)

Ceiling Fans Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, 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).

The Decorative segment is showcasing a CAGR of 5.2% during (2024 - 2031). Decorative ceiling fans are designed to enhance the visual appeal of indoor spaces, serving as both functional appliances and stylish decorative accents. With various designs, finishes, and blade configurations, decorative ceiling fans allow consumers to personalize their living spaces and express their unique aesthetic tastes. As consumers emphasize interior design and home décor, the demand for decorative ceiling fans that complement existing furnishings and décor schemes is rising.

Ceiling Fans Market Size - By Region

The Indoor segment is generating the highest revenue in the Global Ceiling Fans Market by Type in 2023; thereby, achieving a market value of $14.5 billion by 2031. Indoor ceiling fans can be installed in various indoor spaces, including bedrooms, living rooms, kitchens, dining areas, home offices, and other common areas. Their versatility allows consumers to use them throughout their homes to enhance comfort and airflow, making them indispensable fixtures for maintaining a pleasant indoor environment.

The Small segment is registering a CAGR of 5.2% during (2024 - 2031). With increasing urbanization and population density in cities and urban areas, there is a rising demand for compact and space-saving solutions to cool smaller living spaces such as apartments, condominiums, and compact homes. Small-segment ceiling fans are well-suited for these environments because of their compact size and efficient cooling capabilities, making them popular choices among urban dwellers seeking to maximize space utilization without compromising comfort.

The Offline segment is leading the Global Ceiling Fans Market by Distribution Channel in 2023; thereby, achieving a market value of $15.1 billion by 2031. Offline distribution channels, including brick-and-mortar stores, specialty retailers, home improvement centers, and lighting showrooms, offer convenient access to a wide selection of ceiling fan models for consumers. Consumers can make well-informed purchasing decisions regarding ceiling fans by physically visiting retail locations to examine, compare, and assess the products in question. This enables them to evaluate performance, quality, and design considerations.

The Commercial segment is experiencing a CAGR of 5.3% during (2024 - 2031). Ceiling fans come in various designs, styles, finishes, and blade configurations that can complement commercial establishments’ branding and interior decor. Whether seeking modern and sleek designs for contemporary office spaces or classic and elegant styles for upscale restaurants and hotels, businesses can choose ceiling fans that align with their brand image and aesthetic preferences.

Full Report: https://www.kbvresearch.com/ceiling-fans-market/

The Asia Pacific region dominated the Global Ceiling Fans 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. The Europe region is anticipating a CAGR of 4.4% during (2024 - 2031). Additionally, The North America region would exhibit a CAGR of 4.7% during (2024 - 2031).

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

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