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The global portable fan market size is forecast to increase by USD 927.81 million, at a CAGR of 5.46% between 2023 and 2028. Market growth hinges on various factors, including the efficiency of the supply chain for portable fans, expansion in the residential housing sector, and the surge in online sales channels. A streamlined and cost-effective supply chain for portable fans is crucial for meeting consumer demand and maintaining competitive pricing. Concurrently, the growth of the residential housing sector drives the need for cooling solutions, propelling demand for portable fans. Additionally, the escalating preference for online shopping channels amplifies sales opportunities, offering convenience and accessibility to a broader consumer base. The interplay of these factors shapes market dynamics, presenting opportunities for businesses to capitalize on emerging trends and cater to evolving consumer preferences. Adaptation to these shifts is essential for sustainable growth and maintaining a competitive edge in the market. Our report examines historical data from 2018-2022, besides analyzing the current and forecasted market scenario.
The APAC region is set for substantial market growth driven by factors such as rising disposable incomes, cost-effective supply chains for portable fans, increasing demand for luxury fan options, and ongoing product innovations. ACOAIRCOMFORT contributes significantly with versatile box fans suitable for commercial and residential use. Similarly, Crompton Greaves Consumer Electricals Ltd enhances the market with durable table fans like the Air Buddy, widely available across India. The automotive radiator fan segment within the region reflects similar trends, with a focus on efficient cooling solutions for vehicles. These fans play a critical role in maintaining optimal engine temperatures, enhancing vehicle performance and longevity. As technological advancements and consumer preferences evolve, the market for Automotive Radiator Fans in APAC is poised to expand, driven by innovation and demand for reliable automotive cooling systems.
Market Forecast 2024-2028
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Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The APAC region anticipates significant market growth driven by factors such as the cost-effectiveness of portable fan supply chains. Stand, wall, and table fans are affordable and widely used home appliances globally, meeting increasing demand for small, energy-efficient, and environmentally friendly cooling solutions amidst rising temperatures. Manufacturers leverage various raw materials like steel sheets, enamelled copper wires, ball bearings, steel rods, blades, and winding wires, procured in bulk at competitive prices due to numerous suppliers. This cost efficiency contributes to affordable pricing, with portable fans ranging from USD 15 to USD 150 in the market. Additionally, the market for portable power stations, emerging as versatile energy solutions for mobile and off-grid applications, is also expanding. These stations provide portable electricity generation and storage, catering to diverse consumer needs from outdoor enthusiasts to emergency preparedness.
For instance, Bajaj Electricals offers a wide range in various price brackets. The company offers products ranging from USD 28.56 (Elite Neo 3) to USD 42.61 (Bajaj Ultima 4 Blade). Thus, the easy availability of raw materials to manufacture portable fans and the low manufacturing cost of these fans are expected to contribute to the growth of the market during the forecast period.
One of the major factors expected to drive the growth of the market is the growing emphasis on product innovations. The market is exhibiting a steady growth rate and is expected to reach maturity during the forecast period. Therefore, vendors are focusing on product innovations. Innovations are aimed at improving the design, appearance, convenience, and wireless technologies within smart home environments. These technology has voice control compatibility smart and connected technologies with personalized cooling algorithms. Vendors are emphasizing the use of luminance in their products.
For instance, Dyson Group Co. offers the Dyson Air Multiplier M06 table fan with four hours of battery backup, two brightness settings on the LED light, and three fan speeds. The company also offers innovative fans, such as the Dyson Pure Hot + Cool portable tower fan. This product is a silent, multifunctional, IoT-enabled portable fan that purifies the air by sensing particles and gases, besides diagnosing and reporting pollutants in real-time. Thus, the introduction of innovative products with advanced technologies is expected to contribute to the growth of the market during the forecast period.
Growing market prospects and the surging demand for these products are driving the market for counterfeit fans. The growing penetration of e-commerce across different geographic regions worldwide is propelling the sales of counterfeit products. Customers find it challenging to distinguish genuine products from counterfeit products, as they look similar. Counterfeit products are in high demand because of their low price. The growing number of counterfeit products will adversely affect the sales and pricing strategies of genuine vendors operating in the market.
However, such promotional activities come at huge costs and further reduce the profit margins of vendors. A major reason for the low price of counterfeit products is the high savings on the production and transportation of counterfeit products, as manufacturers who produce these counterfeit products operate in regional or local markets. This makes counterfeit products cost less than genuine products. The low price of counterfeit is, however, a huge challenge for vendors in the market during the forecast period.
The market share growth by the table fan segment will be significant during the forecast period. The table fan segment by type is expected to grow during the forecast period. Table fans are small, lightweight, and compact. They can be placed on desks, counters, and tabletops for cooling small spaces. Orient, Bajaj Electricals, and Crompton are some of the major vendors that offer a wide variety of table fans.
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The table fan segment was the largest and was valued at USD 1,348.72 million in 2018. Product innovations, such as the development of bladeless fans, drive the growth of the segment. These fans come in attractive designs and are safe to use and easy to clean. Compared with conventional fans with blades, bladeless table fans can multiply airflow by 15 times. The growing emphasis on convenience in using various household appliances is driving the adoption of bladeless table fans, which, in turn, is anticipated to drive the growth of the table fan segment of the market during the forecast period.
Based on the application, the market has been segmented into residential, commercial and industrial. The residential segment will account for the largest share of this segment.? The residential segment holds the largest market share due to the increase in the number of varieties, including stand, wall, and table fans. The rising demand for tiny and compact portable fans in electrical equipment in the residential sector, such as apartments, nursing homes, schools, and buildings, is expected to drive the growth of the residential segment. The demand is increasing globally because it is more efficient and effective and consumes less energy. Hence, the increasing demand for fans globally is expected to contribute to significant growth in the market during the forecast period.
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APAC is estimated to contribute 41% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. Key factors contributing to the growth of the market in the region are a significant increase in disposable income of individuals, the cost-effective supply chain, the increasing demand for luxury fans, and numerous product innovations that are expected to propel the growth of the regional market. Countries such as India, the Philippines, Vietnam, and China are among the key consumers in APAC. The tendency of consumers to spend on premium portable fans has increased over the past few years and is one of the major factors driving the demand for luxury fans in APAC.
In addition, Havells, Orient, Crompton Greaves, and Westinghouse Electric are among the key manufacturers in APAC. Owing to advances in manufacturing technologies and significant investments in production expansion, these vendors offer a wide range of affordable and premium fans at competitive prices. This intense competition has led vendors to focus on the development and launch of new innovative products. For instance, in April 2022, Orient Electric launched a range of table walls and stand fans. They are available in numerous colours with elegant finishes. Owing to such factors, the market in APAC is expected to witness rapid growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Dyson Group Co - The company such as Dyson Pure Cool. It senses and captures pollution and allergens, then projects purified air around the whole room.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including ACOAIRCOMFORT, Bajaj Electricals Ltd., Crompton Greaves Consumer Electricals Ltd., Dyson Group Co., Easyacc, Global Product Resources Inc., Havells India Ltd., Honeywell International Inc., Lasko Products LLC, Newell Brands Inc., O2Cool LLC, Orient Electric Ltd, Pauls Fan Co., Stadler Form Aktiengesellschaft, Suiden Co. Ltd., Travelon Inc., V Guard Industries Ltd., Vornado Air LLC, Westinghouse Electric Corp., and Xiaomi Communications Co. Ltd.
Technavio market report forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The personal portable fan industry is witnessing rapid growth driven by the rising demand for compact and convenient device of cooling solutions. These devices offer a portable cooling solution ideal for various settings, including outdoor activities and areas with limited ventilation. Handheld models, clip-on fans, and desk fans equipped with rechargeable batteries and USB connections dominate the market. Consumers seek adjustable fan speeds for personalized comfort, especially in hot climates and during heatwaves. The industry emphasizes energy efficiency and environmental friendliness, aligning with sustainable consumer choices. Technological advancements incorporate smart and connected features such as Bluetooth and Wi-Fi connectivity, enabling real-time monitoring and personalized individual comfort and convenience cooling capacity through algorithms. However, challenges like battery life limitations and the need for USB-C charging options persist, driving innovation in power sources and charging technologies.
In the evolving landscape of travel and personal comfort, there is a burgeoning demand for portable fans, particularly in the handheld segment. Battery-operated fans have gained popularity for their unmatched convenience, operating independently of wall outlets. This trend spans across residential and commercial markets, with significant growth observed in industrial applications as well. The era of rapid urbanization has spurred innovation in fan materials, offering options in both metal and plastic shells. Consumers prioritize product quality and manufacturing standards, favoring established brands like acofanworks. As demand extends beyond traditional settings, cordless fans, including window box fans, dual window fans, desktop fans, pedestal fans, hassock fans, and remote-controlled variants, provide flexible solutions. These fans often feature touch screen controls, enhancing user experience. Moreover, in agricultural settings, agricultural ventilation fans play a vital role in maintaining optimal air circulation and temperature control, supporting the health and productivity of livestock and crops alike.
In our quest for eco-friendly solutions, renewable resources like solar energy are being harnessed to power electrical components in portable fans. These innovations are particularly relevant for outdoor sports activities , where humidity control is essential. Handy portable devices like these fans are indispensable for traveling , camping , and hiking . However, battery issues and rechargeable fans are topics of ongoing discussion in the industry. Stay tuned for more insights on these developments.
Portable Fan Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.46% |
Market Growth 2024-2028 |
USD 927.81 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.02 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 41% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACOAIRCOMFORT, Bajaj Electricals Ltd., Crompton Greaves Consumer Electricals Ltd., Dyson Group Co., Easyacc, Global Product Resources Inc., Havells India Ltd., Honeywell International Inc., Lasko Products LLC, Newell Brands Inc., O2Cool LLC, Orient Electric Ltd, Pauls Fan Co., Stadler Form Aktiengesellschaft, Suiden Co. Ltd., Travelon Inc., V Guard Industries Ltd., Vornado Air LLC, Westinghouse Electric Corp., and Xiaomi Communications Co. Ltd. |
Market dynamics |
Parent market growth 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 |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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