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The BLDC fan market share is expected to increase by USD 1.10 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.56%.
This BLDC fan market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers BLDC fan market segmentation by end-user (commercial and residential) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The BLDC fan market report also offers information on several market vendors, including Allied Motion Technologies Inc., Atomberg Technologies Pvt. Ltd., Brilltech Vayu, Crompton Greaves Consumer Electricals Ltd., Fanimation Inc., Fantasia Distribution Ltd., Havells India Ltd., Hunter Fan Co., Kichler Lighting LLC, Luminance Brands LLC, MinebeaMitsumi Inc., Minka Lighting Inc., Nidec Corp., OCECO ENERGY Pvt. Ltd., Orient Electric Ltd., Panasonic Holdings Corp., Perfect Enterprises, Usha International Ltd., Versa Drives Pvt Ltd., and Westinghouse Electric Corp. among others.
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The growing demand for energy-efficient electrical fans is notably driving the brushless direct current (BLDC) fan market growth, although factors such as high-end product cost may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the BLDC fan industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key BLDC Fan Market Driver
The growing demand for energy-efficient electrical fans is one of the key drivers supporting the BLDC fan market growth. Nowadays, fans and blowers are employed in a wide range of end-user applications from ceiling fans for home use to multiple blade fans of varying sizes and dynamic airflow utilized in diverse industrial equipment for cooling and effective airflow circulation. Customers are looking for something that is both energy efficient and small in size that necessitates the use of a smart cooling system. Hence, BLDC fans are good to go. BLDC fans are smaller than traditional fans and can be easily fitted into sophisticated equipment where cooling is a priority, such as high-end personal computers, communication server devices, and other medical equipment. Such factors are expected to drive the growth of the global BLDC fan market during the forecast period.
Key BLDC Fan Market Trend
The increasing disposable income of individuals is one of the key brushless direct current (BLDC) fan market trends fueling market growth. Factors such as the rise in dual household income, per capita income, and rapid growth in the employment rate have increased disposable incomes across the world. The growth in disposable income is expected to increase the spending and purchasing power of consumers during the forecast period. The demand for ceiling fans has been fast increasing as consumers' income levels have risen and electricity has become more readily available. Ceiling fans are popular in low and middle-income countries where people are unable to afford air conditioning. In these homes, ceiling fans are extremely important. Increasing disposable income among individuals will result in increased adoption of electrical products such as ceiling fans, particularly in moderate-temperature areas. Such factors are expected to drive the growth of the global BLDC fan market during the forecast period.
Key BLDC Fan Market Challenge
High-end product cost is one of the key factors challenging the BLDC fan market growth. BLDC fans are more expensive than traditional fans, but they also rely on imports for some crucial elements. Magnet and motor control are two crucial components that are primarily imported from China. However, several domestic firms have recently begun making these components in-house, reducing dependence on China. Mahindra & Mahindra Limited, as well as a few other automakers, are experimenting with ferrite magnets. The cost of importing BLDC motor components is high, which raises the cost of the final product. Imported electronic printed circuit boards(PCBs) are also used by domestic manufacturers. Such factors may hinder the growth of the global BLDC fan market during the forecast period.
This BLDC fan market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global brushless direct current (BLDC) fan market as a part of the global electrical components and equipment market within the global electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the BLDC fan market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the BLDC fan market encompasses successful business strategies deployed by the key vendors. The BLDC fan market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The BLDC fan market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the BLDC fan market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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54% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the brushless direct current fan market in APAC. Market growth in this region will be slower than the growth of the market in South America.
The increased need for cooling solutions for residential applications will facilitate the BLDC fan market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the BLDC fan market in the region faced some challenges due to the outbreak of COVID-19. However, the lockdown restrictions were lifted in the first half of 2021, owing to the initiation of large-scale vaccination drives in the region. This has led to the resumption of operations in BLDC fan manufacturing plants, which has helped the regional market recover since the first half of 2021. Thus, such factors are anticipated to drive the market growth during the forecast period.
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The BLDC fan market share growth by the commercial segment will be significant during the forecast period. The rising demand for tiny and compact DC fans in electrical equipment across various industry verticals is expected to drive the growth of the commercial segment. Moreover, the increasing demand for cooling systems across a wide range of applications, growing demand among various industries for advanced technological products that are more efficient and effective and consume less energy, and increased trade in fans across the world are expected to contribute significantly to the global BLDC fan market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the brushless direct current fan market size and actionable market insights on post COVID-19 impact on each segment.
BLDC Fan Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.56% |
Market growth 2022-2026 |
$ 1.10 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.75 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 54% |
Key consumer countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Allied Motion Technologies Inc., Atomberg Technologies Pvt. Ltd., Brilltech Vayu, Crompton Greaves Consumer Electricals Ltd., Fanimation Inc., Fantasia Distribution Ltd., Havells India Ltd., Hunter Fan Co., Kichler Lighting LLC, Luminance Brands LLC, MinebeaMitsumi Inc., Minka Lighting Inc., Nidec Corp., OCECO ENERGY Pvt. Ltd., Orient Electric Ltd., Panasonic Holdings Corp., Perfect Enterprises, Usha International Ltd., Versa Drives Pvt Ltd., and Westinghouse Electric Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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