North America Electric Fan Market Research Report, 2027

North America Electric Fan Market Research Report, 2027

Actual Market Research 23-09-2022 60 Pages Figures : 15 Tables : 24 Region : North America Category : Consumer Goods & Services Appliances & Equipment

The growing construction industry in North America, corresponding to the growing population density, is driving the electric fan market in the region. This leads to more widespread distribution of electricity lines. Furthermore, the rising disposable incomes of millennials are the primary market drivers driving demand. Additionally, the global warming that is causing the average temperature level to rise is another factor causing demand to grow. Presently, the need for minimum cooling agents is becoming necessary for most parts of the world. Many people are not able to purchase expensive items like air conditioners, air coolers, etc. However, basic ceiling fans are something that many people can afford. Thus, the need to get relief on hot and sunny days, coupled with the increase in population growth, is acting as another important driver for this item. Being a cold region, the majority of the population in North America uses ceiling fans during the winter for ventilation purposes. In addition to this, several decorative and lighting fixtures employ ceiling fans. Rising demand for premium products and easy availability of the products is expected to boost the growth of the ceiling fan market in the upcoming years. According to the research report, "North America Electric Fan Market Research Report, 2027," published by Actual Market Research, the market is expected to grow at a CAGR of 2.62% in terms of value. In terms of volume, it grew from 56.12 million units in 2016 to nearly 59 million units in 2021. The average selling price of electric fans is constantly on the rise, contributing to higher revenues. Demand from Mexico is expected to rise given the climatic conditions of the country. On the other hand, the American market is a more developed market, with nearly 70% of households having installed an electric fan. Until recently, non-smart electric fans captured the market to the extent of 94% in North America. However, with technology evolution in smart fans, it is projected to grow at a CAGR of 3.88% over the forecast period. The increased demands for ceiling fans in residential homes across the region are expected to bolster market growth in future years. Unlike in India, in North America, fans have 4 or 5 fan blades. This is because, in the USA and Canada, the fans are installed to just help circulate the cold blowing air around the room while the air conditioners work. They don’t really need a high-speed fan as they do have an air conditioner working. Fans with 4/5 blades are usually slower. Also, these fans generally have a maximum of three speed settings. 4 blade fans are more expensive when compared with 3 blade fans. These fans have more aerodynamic drag in the motor. 5 bladed fans are an ideal balance between the amount of air circulation and the ambient noise. In winter, many of these fans have a reverse switch which can be flipped to reverse the direction of the rotation so that it can draw cold air from below and the warm air from the heater (usually located along the walls close to the floor or with vents on the floor) can fill the room underneath the fans. The portable battery rechargeable fan market is growing and is expected to be in high demand over the future years. Its space-saving design makes it easy to transport for any lifestyle: outdoor camping, outdoor parties, and indoors with a built-in rechargeable battery. They also come in folding designs to be accommodated in small spaces easily. They come with an 8000mAh rechargeable battery. A full charge takes 3.5 hours and can last up to 25 hours on the lowest speed. With battery operation, there are no more wires, no more hassles. This fan is equipped with a brushless DC motor, which enables the fan to operate quietly and efficiently. The fan also comes with a unique blade design, which ensures powerful but gentle airflow. The Smart Mode feature allows the wind speed to adjust automatically based on the temperature of the room. The growing tendency of renovating homes after a certain period bolsters the demand for decorative ceiling fan varieties such as rustic ceiling fans, contemporary ceiling fans, black ceiling fans, and fancy ceiling fans. Further, globalisation has led to a broader consumer market, which facilitates easier product selection from a wide range of goods made available through multiple distribution channels. Additionally, technologically advanced consumer durables are in high demand and this is a major factor driving the North American ceiling fan market. The decorative fans segment is expected to grow at a CAGR of 3.17% over the forecast period. Presently, there is a growing concern about fashionable housing decoration. People want trendy items. To satisfy this requirement, manufacturers are adding more designs to their products, thereby increasing the cost. This is acting as a restraint. However, the need for a basic cooling agent is driving this industry. There are several factors that are acting as a major impetus for the growth of this industry. The COVID pandemic hit the electric fan industry severely, as it is not regarded as an essential service. The manufacturers faced acute shortages of raw materials due to supply chain logistics being halted. The factories had to be shut for a major period of time. That led to demand and supply inequalities. Since it was a contagious epidemic, consumers refrained from using air-conditioners or even electric fans, fearing its spread, and thus the demand dropped drastically. The construction and revamping of interiors came to a standstill, which further decelerated the demand for electric fans in the region. Major Companies present in the market: Luminance, Westinghouse Electric Corporation, Big Ass Fans, Hunter Fan Company, Minka Lighting Inc, The Henley Fan Company Ltd, Orient Electric, Midea Group, and Singfun Fans. Considered in this report • Geography: North America • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • North America Electric Fan market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • United States • Canada • Mexico By Electric Fan Type in the report • Ceiling Fan • Wall mount • Desk/ Table Fan • Floor Standing/ Pedestal Fan • Others ( battery operated, etc) By Application in the report • Household use • Commercial use By Technology in the report • Smart fan • Non-smart fan By Ceiling Fan type in the report • Standard Fan • Decorative Fan • High Speed Fan • BLDC (energy saving) fan • Others (LED fan, etc) By Ceiling Fan size in the report • Small • Medium • Large By Ceiling Fan Application in the report • Household use • Commercial use By Ceiling Fan Sales Channel in the report • Online • Offline The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to electric fan industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Read More

Card image cap

Interested in this report?
Get your FREE sample!

Requirement Gathering & Methodology
Data Collection Techniques
Our Research Team & Data Sourcing
Data Science & Analytical Tools
Data Visualization & Presentation Skills
Project/ Report Delivery & After Sales Services