Electric fans market size to grow by USD 2.70 billion from 2021 to 2026: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Jan. 16, 2023 /PRNewswire/ -- The global electric fans market size is estimated to increase by  USD 2.70 billion from 2021 to 2026. The market's growth momentum will accelerate at a CAGR of 3.09% during the forecast period, according to Technavio - Request a sample report

Global electric fans market – Vendor analysis
Vendor landscape –

The global electric fans market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer electric fans in the market are Bajaj Electricals Ltd., Dyson Ltd., Emerson Electric Co., Fanimation Inc., Foshan Sanshui Richy Electric Appliances Co. Ltd., Granso Co. Ltd., Gree Electric Appliances Inc. of Zhuhai, Havells India Ltd., Hunter Fan Co., Koninklijke Philips NV, Matthews Fan Co., Panasonic Corp., Stadler Form Aktiengesellschaft, Swan Products Ltd., Usha International Ltd., Visual Comfort and Co., Westinghouse Electric Corp., CK Birla Group, Crompton Greaves Consumer Electricals Ltd., and Minka Lighting Inc. and others.

Vendors in the market compete on the basis of several factors, such as quality, price, service, brand image, distribution, and marketing. Major vendors are focusing on acquiring small brands to increase their market presence. This is further increasing competition in the market.

For details on vendors and their offerings – Buy the report!

Global electric fans market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Global electric fans market - Segmentation assessment

Segment overview
Technavio has segmented the market based on product (ceiling fans, floor fans, and wall-mounted fans). 

• The ceiling fans segment will grow at a significant rate during the forecast period. Ceiling fans have enhanced safety features and more cooling effect when compared to floor fans and wall-mounted fans, which is increasing their use. Moreover, the increasing use of ceiling fans as decorative appliances and the rising number of product innovations are expected to drive the growth of the segment during the forecast period.

Geography overview
Based on geography, the global electric fans market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global electric fans market.

• APAC will account for 45% of the market's growth during the forecast period. China and India are the key countries for the electric fans market in the region. Moreover, market growth in this region will be faster than the growth of the market in Europe, North America, and South America. Government initiatives for the housing sector, the cost-effective supply chain of electric fans, the increasing demand for luxury fans, and numerous product innovations will drive the market growth in APAC during the forecast period.

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Global electric fans market – Market dynamics

Leading drivers - The cost-effective supply chain of electric fans is driving the growth of the market. Electric fans are inexpensive and hence are easily available. Manufacturers use a wide variety of raw materials for manufacturing electric fans. Some of the raw materials include steel sheets, enameled copper wires, ball bearings, steel rods, blades, winding wires, and PVC. The market has numerous suppliers, and manufacturers can purchase raw materials in bulk at low prices. This reduces production costs, which further reduces the cost of electric fans. Thus, the easy availability of raw materials for manufacturing electric fans and the low manufacturing cost are expected to fuel the growth of the market.

Key trends - Increasing product innovations are driving the market's growth. Innovations in the market aim at improving performance efficiency, design, appearance, and convenience. Moreover, vendors are focusing on the use of IoT in their products. The demand for bladeless fans is high. Hence, vendors such as Orient and Dyson have started offering bladeless fans. Thus, the emergence of innovative products with advanced technologies is expected to support the growth of the market during the forecast period.

Major challenges - The increasing use of air conditioners will challenge the market growth during the forecast period. Air conditioners are used widely across the world. Many developed countries have varied climatic conditions. Hence, they use air conditioners equipped with temperature control functionalities. Thus, the shift from electric fans to air conditioners may hamper the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this electric fans market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the electric fans market between 2022 and 2026
• Precise estimation of the size of the electric fans market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Electric Fans Market industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of electric fans market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments 
• Exhibit 24: Chart on Product - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product - Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 Ceiling fans - Market size and forecast 2021-2026
• Exhibit 28: Chart on Ceiling fans - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Ceiling fans - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Ceiling fans - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Ceiling fans - Year-over-year growth 2021-2026 (%)

• 5.4 Floor fans - Market size and forecast 2021-2026
• Exhibit 32: Chart on Floor fans - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Floor fans - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Floor fans - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Floor fans - Year-over-year growth 2021-2026 (%)

• 5.5 Wall mounted fans - Market size and forecast 2021-2026
• Exhibit 36: Chart on Wall mounted fans - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Wall mounted fans - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Wall mounted fans - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Wall mounted fans - Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Product 
• Exhibit 40: Market opportunity by Product ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 42: Chart on Market share by geography 2021-2026 (%)
• Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 44: Chart on Geographic comparison
• Exhibit 45: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026
• Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 North America - Market size and forecast 2021-2026
• Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026
• Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026
• Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 US - Market size and forecast 2021-2026
• Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.10 Germany - Market size and forecast 2021-2026
• Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.11 UK - Market size and forecast 2021-2026
• Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.12 India - Market size and forecast 2021-2026
• Exhibit 82: Chart on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 87: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 89: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 90: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 91: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 92: Matrix on vendor position and classification

• 10.3 Bajaj Electricals Ltd. 
• Exhibit 93: Bajaj Electricals Ltd. - Overview
• Exhibit 94: Bajaj Electricals Ltd. - Business segments
• Exhibit 95: Bajaj Electricals Ltd. - Key news
• Exhibit 96: Bajaj Electricals Ltd. - Key offerings
• Exhibit 97: Bajaj Electricals Ltd. - Segment focus

• 10.4 CK Birla Group 
• Exhibit 98: CK Birla Group - Overview
• Exhibit 99: CK Birla Group - Product / Service
• Exhibit 100: CK Birla Group - Key offerings

• 10.5 Crompton Greaves Consumer Electricals Ltd.
• Exhibit 101: Crompton Greaves Consumer Electricals Ltd. - Overview
• Exhibit 102: Crompton Greaves Consumer Electricals Ltd. - Business segments
• Exhibit 103: Crompton Greaves Consumer Electricals Ltd. - Key offerings
• Exhibit 104: Crompton Greaves Consumer Electricals Ltd. - Segment focus

• 10.6 Dyson Ltd. 
• Exhibit 105: Dyson Ltd. - Overview
• Exhibit 106: Dyson Ltd. - Product / Service
• Exhibit 107: Dyson Ltd. - Key offerings

• 10.7 Emerson Electric Co. 
• Exhibit 108: Emerson Electric Co. - Overview
• Exhibit 109: Emerson Electric Co. - Business segments
• Exhibit 110: Emerson Electric Co. - Key news
• Exhibit 111: Emerson Electric Co. - Key offerings
• Exhibit 112: Emerson Electric Co. - Segment focus

• 10.8 Havells India Ltd. 
• Exhibit 113: Havells India Ltd. - Overview
• Exhibit 114: Havells India Ltd. - Business segments
• Exhibit 115: Havells India Ltd. - Key news
• Exhibit 116: Havells India Ltd. - Key offerings
• Exhibit 117: Havells India Ltd. - Segment focus

• 10.9 Hunter Fan Co. 
• Exhibit 118: Hunter Fan Co. - Overview
• Exhibit 119: Hunter Fan Co. - Product / Service
• Exhibit 120: Hunter Fan Co. - Key offerings

• 10.10 Koninklijke Philips NV 
• Exhibit 121: Koninklijke Philips NV - Overview
• Exhibit 122: Koninklijke Philips NV - Business segments
• Exhibit 123: Koninklijke Philips NV - Key news
• Exhibit 124: Koninklijke Philips NV - Key offerings
• Exhibit 125: Koninklijke Philips NV - Segment focus

• 10.11 Panasonic Corp. 
• Exhibit 126: Panasonic Corp. - Overview
• Exhibit 127: Panasonic Corp. - Business segments
• Exhibit 128: Panasonic Corp. - Key offerings
• Exhibit 129: Panasonic Corp. - Segment focus

• 10.12 Westinghouse Electric Corp. 
• Exhibit 130: Westinghouse Electric Corp. - Overview
• Exhibit 131: Westinghouse Electric Corp. - Product / Service
• Exhibit 132: Westinghouse Electric Corp. - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 133: Inclusions checklist
• Exhibit 134: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 135: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 136: Research methodology
• Exhibit 137: Validation techniques employed for market sizing
• Exhibit 138: Information sources

• 11.5 List of abbreviations 
• Exhibit 139: List of abbreviations

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