Electric fans market size to grow by USD 3,604.96 million from 2022 to 2027; Growth driven by rising demand for premium fans - Technavio

NEW YORK, April 21, 2023 /PRNewswire/ -- The global electric fans market size is estimated to increase by USD 3,604.96 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 3.96% during the forecast period. The market is driven by the rising demand for premium fans. These fans offer better performance efficiency and visual appeal. They are perceived to be status symbols. Also, premium fans complement the contemporary design of rooms and improve the aesthetics of living spaces. Such factors have increased the consumer demand for premium fans. To meet the growing demand, vendors in the market are offering a wide range of premium fans that are stylish and energy-efficient and consume less electricity. For instance, Bajaj Electricals offers various designer fans, such as Ornio, a shank-less ceiling fan that operates at high speeds. As a result, the market size will expand during the forecast period. Discover some key insights on the market size, historic period (2017 to 2021), and forecast period (2023-2027) before buying the full report - Request a sample report

Global Electric Fans Market – Vendor Analysis

The global electric fans market is fragmented, with the presence of several vendors. The market is subject to rapidly changing consumer demands and preferences. Changing consumer preference patterns may affect vendor performance in the market. It may also be affected by global and regional economic conditions and various other demographic trends. Vendors compete based on several factors, such as quality, price, service, brand image, distribution, and marketing. In addition, they are focusing on acquiring other small brands to increase their market presence. All these factors will intensify the competition in the market during the forecast period. Some of the key vendors covered in the report include:

• Crompton Greaves Consumer Electricals Ltd. - The company offers ES 6 electric fans with inbuilt Bluetooth handheld remote, mobile application, and voice control.
• Emerson Electric Co. - The company offers Elite Range Aero electric fans, which are designed with curved blades for better air flow movement and consume 60% less electricity than standard ceiling fans.
• Fantasia Ceiling Fans - The company offers electric air fans, which are designed with green bionic noise reduction fan blades, along with concavo-convex waved shape to improve airflow.
• Haier Smart Home Co. Ltd. - The company offers Stealth Air Cruise electric air fan, which is designed with the Aerofoil profile blade to deliver large volumes of air.
• Luminace Holdings LLC
• Delta T LLC
• Fantech Pty Ltd.
• GREE ELECTRIC APPLIANCES INC. OF ZHUHAI
• Havells India Ltd.
• Hunter Fan Co.
• Lian Li
• Midea Group Co. Ltd.
• Minka Lighting Inc.
• Orient Electric Ltd
• Panasonic Holdings Corp.

Global Electric Fans Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on product (ceiling fans, door fans, and wall-mounted fans), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

The market growth in the ceiling fans segment will be significant over the forecast period. Ceiling fans offer enhanced safety features and cooling effects when compared to floor fans. In addition, the increased use of ceiling fans as decorative appliances and product innovations by vendors will drive the growth of the segment. The increased demand for luxury ceiling fans is another factor driving the growth of the segment.

Geography Overview
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 41% of the market growth during the forecast period. The growth of the regional market is driven by various factors such as the increase in the number of government initiatives for the housing sector, the cost-effective supply chain of electric fans, increasing demand for luxury fans, and product innovations. The increasing consumer spending on residential homes and apartments will further drive the growth of the electric fans market in APAC during the forecast period.

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Global Electric Fans Market – Market Dynamics

Key Trends – 

The rising demand for customized fans is identified as the key trend in the market. The emphasis on personalized home decorations has grown among consumers. This has led to a rise in the demand for expensive and customized fans among consumers in both developed and developing countries. This growing consumer inclination has encouraged vendors to offer a wide range of decorative fans. For instance, Emerson Electric manufactures and offers customized fans with various lighting fixtures and a variety of blade shapes. Similarly, Bajaj Electricals offers fans various designs and themes such as Avengers, Princess, and Winnie the Pooh to attract consumers.

Major challenges –

The increasing use of air conditioners will challenge the growth of the market. Air conditioners are increasingly being adopted by consumers worldwide owing to effective cooling capabilities. The demand for air conditioners is increasing with a rise in disposable incomes and the increased consumer demand for convenience. Besides, air conditioners are equipped with temperature control functionalities, which enable them to function as both coolers and air conditioners. Such factors are limiting the adoption of electric fans, which is negatively affecting the growth of the market.

Drivers, trends, and challenges have an impact on market dynamics and businesses as well. Find more insights in the sample PDF 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 2023 and 2027
• 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 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 Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global electric fans market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global electric fans market 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Ceiling fans - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Ceiling fans - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Ceiling fans - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Ceiling fans - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Ceiling fans - Year-over-year growth 2022-2027 (%)

• 6.4 Door fans - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Door fans - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Door fans - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Door fans - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Door fans - Year-over-year growth 2022-2027 (%)

• 6.5 Wall-mounted fans - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Wall-mounted fans - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Wall-mounted fans - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Wall-mounted fans - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Wall-mounted fans - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product ($ million)
• Exhibit 47: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 48: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 50: Chart on Comparison by Distribution Channel
• Exhibit 51: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 60: Market opportunity by Distribution Channel ($ million)
• Exhibit 61: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027 
• Exhibit 103: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Crompton Greaves Consumer Electricals Ltd. 
• Exhibit 115: Crompton Greaves Consumer Electricals Ltd. - Overview
• Exhibit 116: Crompton Greaves Consumer Electricals Ltd. - Business segments
• Exhibit 117: Crompton Greaves Consumer Electricals Ltd. - Key offerings
• Exhibit 118: Crompton Greaves Consumer Electricals Ltd. - Segment focus

• 12.4 Delta T LLC
• Exhibit 119: Delta T LLC - Overview
• Exhibit 120: Delta T LLC - Product / Service
• Exhibit 121: Delta T LLC - Key offerings

• 12.5 Fantasia Ceiling Fans 
• Exhibit 122: Fantasia Ceiling Fans - Overview
• Exhibit 123: Fantasia Ceiling Fans - Product / Service
• Exhibit 124: Fantasia Ceiling Fans - Key offerings

• 12.6 GREE ELECTRIC APPLIANCES INC. OF ZHUHAI 
• Exhibit 125: GREE ELECTRIC APPLIANCES INC. OF ZHUHAI - Overview
• Exhibit 126: GREE ELECTRIC APPLIANCES INC. OF ZHUHAI - Product / Service
• Exhibit 127: GREE ELECTRIC APPLIANCES INC. OF ZHUHAI - Key offerings

• 12.7 Havells India Ltd.
• Exhibit 128: Havells India Ltd. - Overview
• Exhibit 129: Havells India Ltd. - Business segments
• Exhibit 130: Havells India Ltd. - Key news
• Exhibit 131: Havells India Ltd. - Key offerings
• Exhibit 132: Havells India Ltd. - Segment focus

• 12.8 Midea Group Co. Ltd.
• Exhibit 133: Midea Group Co. Ltd. - Overview
• Exhibit 134: Midea Group Co. Ltd. - Product / Service
• Exhibit 135: Midea Group Co. Ltd. - Key offerings

• 12.9 Minka Lighting Inc.
• Exhibit 136: Minka Lighting Inc. - Overview
• Exhibit 137: Minka Lighting Inc. - Product / Service
• Exhibit 138: Minka Lighting Inc. - Key offerings

• 12.10 Orient Electric Ltd
• Exhibit 139: Orient Electric Ltd - Overview
• Exhibit 140: Orient Electric Ltd - Business segments
• Exhibit 141: Orient Electric Ltd - Key news
• Exhibit 142: Orient Electric Ltd - Key offerings
• Exhibit 143: Orient Electric Ltd - Segment focus

• 12.11 Panasonic Holdings Corp. 
• Exhibit 144: Panasonic Holdings Corp. - Overview
• Exhibit 145: Panasonic Holdings Corp. - Business segments
• Exhibit 146: Panasonic Holdings Corp. - Key news
• Exhibit 147: Panasonic Holdings Corp. - Key offerings
• Exhibit 148: Panasonic Holdings Corp. - Segment focus

• 12.12 Shell Electric Holdings Ltd. 
• Exhibit 149: Shell Electric Holdings Ltd. - Overview
• Exhibit 150: Shell Electric Holdings Ltd. - Product / Service
• Exhibit 151: Shell Electric Holdings Ltd. - Key offerings

• 12.13 The Henley Fan Co. Ltd. 
• Exhibit 152: The Henley Fan Co. Ltd. - Overview
• Exhibit 153: The Henley Fan Co. Ltd. - Product / Service
• Exhibit 154: The Henley Fan Co. Ltd. - Key offerings

• 12.14 Usha International Ltd. 
• Exhibit 155: Usha International Ltd. - Overview
• Exhibit 156: Usha International Ltd. - Product / Service
• Exhibit 157: Usha International Ltd. - Key offerings

• 12.15 Westinghouse Electric Corp. 
• Exhibit 158: Westinghouse Electric Corp. - Overview
• Exhibit 159: Westinghouse Electric Corp. - Product / Service
• Exhibit 160: Westinghouse Electric Corp. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 161: Inclusions checklist
• Exhibit 162: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 163: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 164: Research methodology
• Exhibit 165: Validation techniques employed for market sizing
• Exhibit 166: Information sources

• 13.5 List of abbreviations 
• Exhibit 167: List of abbreviations

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