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Electric Fan Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

  • Published: May 2022
  • Pages: 120
  • SKU: IRTNTR40168
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The electric fans market's growth momentum will accelerate at a CAGR of 3.09% and the market share will increase to USD 2.70 billion from 2021 to 2026.

This 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
  • Geography - APAC, Europe, North America, South America, and Middle East and Africa

The market report also offers information on several market vendors, including 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. among others.

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

Electric Fan Market Size

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"The cost-effective supply chain of portable fans will facilitate the portable fan market growth in APAC over the forecast period."

Electric Fans Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The cost-effective supply chain of electric fans is notably driving the market growth, although factors such as the increasing use of air conditioners 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 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 Market Driver

  • One of the key factors driving growth in the market is the cost-effective supply chain of electric fans.
  • An electric fan is an inexpensive, easily available home appliance used extensively across the world.
  •  The manufacturers of electric fans use a wide variety of raw materials for the manufacturing process. The raw materials include steel sheets, enameled copper wires, ball bearings, steel rods, blades, winding wires, and PVC.
  • The market consists of numerous suppliers, and electric fan manufacturers can purchase raw materials in bulk at low prices.
  • The low cost of raw materials leads to low production costs, which further translate to the low cost of electric fans. Thus, the easy availability of raw materials for manufacturing electric fans and the low manufacturing cost of these fans are expected to contribute to the growth of the market.

Key Market Trend

  • The increasing product innovations is a key market trend that is expected to have a positive impact in the coming years.
  • Innovations in electrical fans aim at improving performance efficiency, design, appearance, and convenience offered by technologies. Vendors are emphasizing the use of IoT in their products.
  • Orient, for instance, offers Aeroslim, an IoT-enabled ceiling fan that can be controlled remotely through cloud computing technology. IoT-enabled ceiling fans are gaining popularity.
  • Bajaj Electricals introduced anti-germ and bye-bye dust ceiling fans. These fans are covered with an anti-germ coating that prevents the growth of germs and bacteria.
  • Currently, the demand for bladeless fans is high, owing to the increasing demand for premium fans. As a result, vendors such as Orient and Dyson have started offering bladeless fans.
  • The emergence of innovative products with advanced technologies is expected to contribute to the growth of the market during the forecast period.

Key Market Challenge

  • The increasing use of air conditioners will be a major challenge for the market during the forecast period.
  • Air conditioners are among the widely adopted household devices across the world, owing to their increased functionality and effective cooling technologies.
  • With the rise in disposable income and the increased demand for convenience, individuals are highly emphasizing household decoration.
  • 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. This shift may hamper the growth of the market.

This 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.

Parent Market Analysis

Technavio categorizes the global electric fan market as a part of the global household appliances (home appliances) market within the global household durables industry. 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 during the forecast period.

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.
  • 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.
  • Minka Lighting Inc.

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as focusing on acquiring other small brands to increase their market presence to compete in the market.

Product Insights and News

  • bajajelectricals.com - The company offers voice user interface through its Speech recognition technology.

  • bajajelectricals.com - The unified segment focuses on the creation of interface and application solutions for speech recognition 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 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 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.

Which are the Key Regions for Electric Fans Market?

Electric Fan Market Market segmentation by region

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45% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for electric fans in APAC. Market growth in this region will be faster than the growth of the market in the European, North American, and South American regions.

The 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 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

The electric fan market in the region faced some challenges due to the spread of COVID-19 in 2020. In India, manufacturing activities were halted due to the imposition of a nationwide lockdown. China, Japan, South Korea, and India were some of the countries that were severely affected by the COVID-19 pandemic. The lockdown restrictions were relaxed in the first half of 2021, owing to the rise in vaccination drives in the region. This led to the resumption of operations in electric fan manufacturing plants, which helped the regional market to recover in the first half of 2021. 

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

Electric Fan Market Segmentation

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The market share growth by the ceiling fans segment will be significant during the forecast period. The ceiling fans segment accounts for the maximum share of the global electrical fans market. 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 decorative appliances (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 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

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.09%

Market growth 2022-2026

$ 2.70 billion

Market structure

Fragmented

YoY growth (%)

2.24

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 45%

Key consumer countries

US, China, India, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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.

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

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

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive market growth during the next five years
  • Precise estimation of the market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behaviour
  • The growth of the electric fans 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 on vendors
  • Comprehensive details of factors that will challenge the growth of market vendors

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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
              • Small cooking appliances such as coffee makers and espresso machines, blenders (hand and counter-top), sandwich makers, food processors, popcorn poppers, pizza makers, ice cream makers, tea makers, electric pressure cookers, electric rice cookers, electric skillets and grillers, electric slow cookers, electric multi-cookers, toasters, electric fryers (air fryers and deep fryers), juicers and mixers/grinders, bread makers, breakfast burrito makers, can and jar openers, egg cookers, electric knives, electric spiralizers, food choppers, food dehydrators, electric irons, knife sharpeners, pasta makers, food steamers and warmers, waffle makers, wine openers, and garbage disposals o
                • o
                  • tools: Include hand tools used for household and industrial applications o
                    • improvement tools: Include o

                    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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                    Electric Fans Market market growth will increase by $2.70 bn during 2022-2026.
                    The electric fans market market is expected to grow at a CAGR of 3.09% during 2022-2026.
                    Technavio has segmented the electric fans market market by product (Ceiling fans, Floor fans, and Wall mounted fans) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
                    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., Minka Lighting Inc. are a few of the key vendors in the electric fans market market.
                    APAC will register the highest growth rate of 45% among the other regions. Therefore, the electric fans market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                    The key factors driving the electric fans market market growth are:
                    • cost-effective supply chain of electric fans
                    • Increasing product innovations
                    The electric fans market market vendors should focus on grabbing business opportunities from the ceiling fans segment as it accounted for the largest market share in the base year.
                    • What are the key global market and the regional market share?
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                    • What are the variables influencing the market growth in the primary regions?
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