Electric Fan Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Aug 2020
  • Pages: 120
  • SKU: IRTNTR40168
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The electric fans market share is expected to increase by USD 2.06 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 3%.

This electric fans 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 market segmentation by product (ceiling fans, floor fans, and wall-mounted fans) and geography (APAC, Europe, MEA, North America, and South America). The electric fans market report also offers information on several market vendors, including Bajaj Electricals Ltd., Crompton Greaves Consumer Electricals Ltd., Delta T LLC, Emerson Electric Co., Havells India Ltd., Hunter Fan Co., Orient Electric Ltd., Panasonic Corp., Phillips Lighting & Home, and Westinghouse Electric Corp. among others.

What will the Electric Fans Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Electric Fans Market Size for the Forecast Period and Other Important Statistics

 

Electric Fans Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The demand for premium appliances is notably driving the electric fans market growth, although factors such as increased use of air conditioners across the world may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric fans industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electric Fans Market Driver

The rising demand for premium fans is one of the significant factors driving the growth of the electric fan market. This increasing demand for premium fans can be attributed to their high-performance efficiency and visual appeal. Vendors have been offering a wide range of premium fans, including designer fans and underlight ceiling fans, which are energy efficient. A few vendors also offer luminaire fans with light sources and multipurpose light fixtures that further enhance the aesthetics of a room. The rising demand for such premium fans will fuel the growth of the electric fan market during the forecast period.

Key Electric Fans Market Trend

Increasing product innovations have been identified as one of the critical electric fan market trends. Market vendors are focusing on various product innovations to increase their shares in the electric fan market. The innovative products are incorporated with advanced technologies to provide better performance efficiency, design, appearance, and convenience. A few vendors are offering IoT-enabled ceiling fans that can be controlled remotely, and their speed can be automatically adjusted according to the temperature of the room. Anti-germ and bye-bye dust ceiling fans are other innovative products, which are coated with advanced polymer technology for preventing dust accumulation on the surface of the fan blades. The demand for bladeless fans, which increase the airflow and purify and circulate air in a room, is also growing. The rising popularity of such innovative products is expected to have a positive impact on the growth of the electric fan market.

Key Electric Fans Market Challenge

The increased use of air conditioners across the world is one of the major factors expected to hamper the growth of the global electric fans market during the forecast period. A significant increase in the disposable income of consumers in developed countries has a huge impact on the adoption of air conditioners. Many developed countries have varied climatic conditions and have extremely low- or high-temperature zones. Due to the climatic conditions, developed countries are using air conditioners as these machines are equipped with temperature control functionalities, which enable them to function as coolers and air conditioners. The multifunctional properties of air conditioners and major lifestyle changes are driving the switch from electric fans to air conditioners. 

Parent Market Analysis

Technavio categorizes the global electric fans market as a part of the global household appliances market within the global household durables industry. The global household appliances market covers revenue generated by manufacturers of electric household appliances and related products. Technavio calculates the global household appliances market size based on combined revenue generated by manufacturers/marketers of consumer electronics, home furnishings and decorative products, household appliances, homebuilding, and homeware and specialties products. 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 market in focus during the forecast period.

This electric fans 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 2020-2024.

Who are the Major Electric Fans Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Bajaj Electricals Ltd.
  • Crompton Greaves Consumer Electricals Ltd.
  • Delta T LLC
  • Emerson Electric Co.
  • Havells India Ltd.
  • Hunter Fan Co.
  • Orient Electric Ltd.
  • Panasonic Corp.
  • Phillips Lighting & Home
  • Westinghouse Electric Corp.

 

This statistical study of the electric fans market encompasses successful business strategies deployed by the key vendors. The electric fans market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Bajaj Electricals Ltd. - In March 2018, the company launched the first IoT Air Cooler Bajaj COOL.iNXT
  • Crompton Greaves Consumer Electricals Ltd. - In October 2019, the company launched Air Buddy, a kitchen fan for a comfortable and convenient kitchen experience
  • Emerson Electric Co. - In February 2019, the company completed the acquisition of General Electric's Intelligent Platforms' programmable logic controller technologies

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 electric fans 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. 

Electric Fans Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the electric fans market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains 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.

The value chain of electric fans includes raw material and input suppliers, component (electrical and electronic) suppliers or in-house production, subassemblies (by suppliers or in-house assembly line), final product assembly for a wide range of end-market segments by manufacturers, distribution/sales channels (traders, distributors/dealers/wholesalers, and retailers), consumers, and recyclers. The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Electric Fans Market?

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41% of the market’s growth will originate from APAC during the forecast period. India, the Philippines, Vietnam, and China are the key markets for electric fans in APAC. 

A significant increase in the number of 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 facilitate the electric fans 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.

What are the Revenue-generating Product Segments in the Electric Fans Market?

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The electric fans market share growth by the ceiling fans segment will be significant during the forecast period. Ceiling fans are widely used because of their enhanced safety features and more cooling effect than floor fans and wall-mounted fans. The increasing use of ceiling fans as a decorative appliance (light fixtures) and the rising number of product innovations in the segment are among the major factors expected to drive the growth of the segment during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the electric fans market size and actionable market insights on post COVID-19 impact on each segment.

 

Electric Fans Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2020-2024

$ 2.06 billion

Market structure

Fragmented

YoY growth (%)

2.30

Regional analysis

APAC, Europe, MEA, North America, and South America

Performing market contribution

APAC at 41%

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Bajaj Electricals Ltd., Crompton Greaves Consumer Electricals Ltd., Delta T LLC, 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., KHAITAN INDIA Ltd., Matthews Fan Co., Midea Group Co. Ltd., Minka Lighting Inc., Monte Carlo Fan Co., Orient Electric Ltd., Panasonic Corp., Phillips Lighting & Home, Swan Products Ltd.

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, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Electric Fans Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive electric fans market growth during the next five years
  • Precise estimation of the electric fans market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric fans industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electric fans market vendors

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1. Executive Summary                           

                                Exhibit 01:    Key finding 1

                                Exhibit 02:    Key finding 2

                                Exhibit 03:    Key finding 3

                                Exhibit 04:    Key finding 4

                                Exhibit 05:    Key finding 5

                                Exhibit 06:    Key finding 11

                                Exhibit 07:    Key finding 12

                                Exhibit 08:    Key finding 13

                                Exhibit 09:    Key finding 14

                                Exhibit 10:    Key finding 15

2. Scope of the report                           

                2.1 Preface   

                                Exhibit 11:    Years in consideration

                                2.1.1 Market definition

                2.2 Preface   

                                2.2.1 Objectives

                                2.2.2 Notes and caveats

                                Exhibit 12: Vendor key offerings

                2.3 Currency conversion rates for US$               

                                Exhibit 13:    Currency conversion rates for US$

3.  Market landscape                             

                3.1 Market ecosystem             

                                3.1.1 Parent market

                                Exhibit 14:     Global household appliances market

                                Exhibit 15:     Segments of global household appliances market

                3.2 Market characteristics      

                                Exhibit 16:    Market characteristics

                                Exhibit 17:    Market characteristics analysis

                3.3 Market segmentation analysis      

                                Exhibit 18:    Market segments

                3.4 Value chain analysis           

4. Market sizing                       

                4.1 Market definition

                                Exhibit 19:    Market definition - Inclusions and exclusions checklist

                4.2 Market sizing 2019              

                                Exhibit 19:    Market size 2019

                4.3 Market size and forecast 2019-2024            

                                Exhibit 21: Global market: Size and forecast 2019-2024 ($ millions)

                                Exhibit 22: Global market: Year-over-year growth 2020-2024 (%)

                4.4 Market outlook   

5. Five forces analysis                            

                                Exhibit 23:    Five forces analysis 2019

                                Exhibit 24:    Five forces analysis 2024

                5.1 Bargaining power of buyers           

                                Exhibit 25:    Bargaining power of buyers

                5.2 Bargaining power of suppliers       

                                Exhibit 26:    Bargaining power of suppliers

                5.3 Threat of new entrants    

                                Exhibit 27:    Threat of new entrants

                5.4 Threat of substitutes         

                                Exhibit 28:    Threat of substitutes

                5.5 Threat of rivalry   

                                Exhibit 29:    Threat of rivalry

                5.6 Market condition

                                Exhibit 30:    Market condition - Five Forces 2019

6. Market segmentation by product                

                Market segmentation by product

                                Exhibit 31: Product - Market share 2019-2024 (%)

                Comparison by product

                                Exhibit 32: Comparison by product

                                Exhibit 33: Comparison_3

                Ceiling fans - Market size and forecast 2019-2024

                                Exhibit 34: Ceiling fans - Market size and forecast 2019-2024 ($ millions)

                                Exhibit 35: Ceiling fans - Year-over-year growth 2020-2024 (%)

                Floor fans - Market size and forecast 2019-2024

                                Exhibit 36: Floor fans - Market size and forecast 2019-2024 ($ millions)

                                Exhibit 37: Floor fans - Year-over-year growth 2020-2024 (%)

                Wall-mounted fans - Market size and forecast 2019-2024

                                Exhibit 38: Wall-mounted fans - Market size and forecast 2019-2024 ($ millions)

                                Exhibit 39: Wall-mounted fans - Year-over-year growth 2020-2024 (%)

                Market opportunity by product

                                Exhibit 40: Market opportunity by product

7. Customer landscape                         

                                Exhibit 41: Customer landscape

                                Exhibit 42: Customer landscape analysis

8.  Geographic landscape                     

                Geographic segmentation

                                Exhibit 43:    Market share by geography 2019-2024 (%)

                Geographic comparison

                                Exhibit 44:    Geographic comparison

                                Exhibit 45:    Comparison_5

                APAC - Market size and forecast 2019-2024

                                Exhibit 46: APAC - Market size and forecast 2019-2024 ($ millions)

                                Exhibit 47: APAC - Year-over-year growth 2020-2024 (%)

                Europe - Market size and forecast 2019-2024

                                Exhibit 48: Europe - Market size and forecast 2019-2024 ($ millions)

                                Exhibit 49: Europe - Year-over-year growth 2020-2024 (%)

                North America - Market size and forecast 2019-2024

                                Exhibit 50: North America - Market size and forecast 2019-2024 ($ millions)

                                Exhibit 51: North America - Year-over-year growth 2020-2024 (%)

                South America - Market size and forecast 2019-2024

                                Exhibit 52: South America - Market size and forecast 2019-2024 ($ millions)

                                Exhibit 53: South America - Year-over-year growth 2020-2024 (%)

                MEA - Market size and forecast 2019-2024

                                Exhibit 54: MEA - Market size and forecast 2019-2024 ($ millions)

                                Exhibit 55: MEA - Year-over-year growth 2020-2024 (%)

                Key leading countries

                                Exhibit 56:    Key leading countries

                                Exhibit 57:    Country_Legend_16

                Market opportunity

                                Exhibit 58:    Market opportunity

9.  Decision framework                         

                                Exhibit 59: Decision framework

10.  Drivers and challenges                 

                Market drivers

                Market challenges

                                Exhibit 60:    Impact of drivers and challenges

11.  Market Trends                 

                Increasing product innovations

                Growing emphasis on eco-friendly fans

                Rising demand for customized fans

12.  Vendor landscape                          

                Overview

                                Exhibit 61:    Vendor landscape

                Landscape disruption

                                Exhibit 62:    Landscape disruption

                                Exhibit 63:    Vendor landscape analysis

                Competitive scenario

13.  Vendor analysis                               

                Vendors covered

                                Exhibit 64:    Vendors covered

                                Exhibit 65:    Vendor_analysis1

                Vendor classification

                                Exhibit 66:    Vendor classification

                Market positioning of vendors

                                Exhibit 67:    Market positioning of vendors

                Bajaj Electricals Ltd.

                                Exhibit 68:   Bajaj Electricals Ltd. - Vendor overview

                                Exhibit 69:   Bajaj Electricals Ltd. - Business segments

                                Exhibit 70:   Bajaj Electricals Ltd. - Organizational developments

                                Exhibit 71:   Bajaj Electricals Ltd. - Geographic focus

                                Exhibit 72:   Bajaj Electricals Ltd. - Segment focus

                                Exhibit 73:   Bajaj Electricals Ltd. - Key offerings

                Crompton Greaves Consumer Electricals Ltd.

                                Exhibit 73:    Crompton Greaves Consumer Electricals Ltd. - Vendor overview

                                Exhibit 74:    Crompton Greaves Consumer Electricals Ltd. - Business segments

Exhibit 75:    Crompton Greaves Consumer Electricals Ltd. - Organizational developments

                                Exhibit 76:    Crompton Greaves Consumer Electricals Ltd. - Segment focus

                                Exhibit 77:    Crompton Greaves Consumer Electricals Ltd. - Key offerings

                Delta T LLC

                                Exhibit 78:   Delta T LLC - Vendor overview

                                Exhibit 79:   Delta T LLC - Product segments

                                Exhibit 80:   Delta T LLC - Key offerings

                Emerson Electric Co.

                                Exhibit 81:   Emerson Electric Co. - Vendor overview

                                Exhibit 82:   Emerson Electric Co. - Business segments

                                Exhibit 83:   Emerson Electric Co. - Organizational developments

                                Exhibit 84:   Emerson Electric Co. - Geographic focus

                                Exhibit 85:   Emerson Electric Co. - Segment focus

                                Exhibit 86:   Emerson Electric Co. - Key offerings

                Havells India Ltd.

                                Exhibit 87:    Havells India Ltd. - Vendor overview

                                Exhibit 88:    Havells India Ltd. - Product segments

                                Exhibit 89:    Havells India Ltd. - Organizational developments

                                Exhibit 90:    Havells India Ltd. - Geographic focus

                                Exhibit 91:    Havells India Ltd. - Segment focus

                                Exhibit 92:    Havells India Ltd. - Key offerings

                Hunter Fan Co.            

                                Exhibit 93:   Hunter Fan Co. - Vendor overview

                                Exhibit 94:   Hunter Fan Co. - Business segments

                                Exhibit 95:   Hunter Fan Co. - Organizational developments

                                Exhibit 96:   Hunter Fan Co. - Key offerings

                Orient Electric Ltd.

                                Exhibit 97:   Orient Electric Ltd. - Vendor overview

                                Exhibit 98:   Orient Electric Ltd. - Business segments

                                Exhibit 99:   Orient Electric Ltd. - Organizational developments

                                Exhibit 100:   Orient Electric Ltd. - Geographic focus

                                Exhibit 101:   Orient Electric Ltd. - Segment focus

                                Exhibit 102:   Orient Electric Ltd. - Key offerings

                Panasonic Corp.          

                                Exhibit 103:   Panasonic Corp. - Vendor overview

                                Exhibit 104:   Panasonic Corp. - Business segments

                                Exhibit 105:   Panasonic Corp. - Organizational developments

                                Exhibit 106:   Panasonic Corp. - Geographic focus

                                Exhibit 107:   Panasonic Corp. - Segment focus

                                Exhibit 108:   Panasonic Corp. - Key offerings

                Phillips Lighting & Home

                                Exhibit 109:   Delta T LLC - Vendor overview

                                Exhibit 110:   Delta T LLC - Product segments

                                Exhibit 111:   Delta T LLC - Key offerings

                Westinghouse Electric Corp.

                                Exhibit 112:   Westinghouse Electric Corp. - Vendor overview

                                Exhibit 113:   Westinghouse Electric Corp. - Product segments

                                Exhibit 114:   Westinghouse Electric Corp. - Organizational developments

                                Exhibit 115:   Westinghouse Electric Corp. - Key offerings

14.  Appendix                           

                Research methodology

                                Exhibit 116:    Research framework

                                Exhibit 117:    Validation techniques employed for market sizing

                                Exhibit 118:    Information sources

                List of abbreviations

                                Exhibit 119:    List of abbreviations

                Definition of market positioning of vendors

                                Exhibit 120: Definition of market positioning of vendors

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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