North America Ceiling Fans Market
A ceiling fan, fixed on the ceiling of a room, helps in air circulation, and creates a cooling effect by evaporating sweat and increases heat exchange through convection. Ceiling fans use considerably less power than air conditioning, and hence they are popular among middle-class customers. In addition to cost efficiency, ceiling fans also have a long lifespan. Urbanization in emerging economies across the North America is promoting the establishment of new residential buildings and is subsequently aiding the market expansion. Furthermore, the increased spending on premium products of home décor is further propelling the demand for ceiling fans with new innovative features such as interchangeable blades, lighting fans, and smart fans with the feature of voice control and connectivity access to tablets and smartphones. The key players in the region are continuously improving the overall business processes to meet the customers' demand for superior quality products and services in the best possible way. Several domestic and multinational companies already have a strong foothold in North American countries like the U.S. and Canada. According to the data by Natural Resources Defense Council, more than 80 million American households have at least one ceiling fan. The U.S. Department of Energy finalized an updated energy efficiency standard for ceiling fans, which will reduce consumer energy bills, save energy, and help limit global warming, without restricting the ability of this equipment to enhance indoor air quality and maintain comfort. Also, technologically advanced consumer durable at high demand is a major factor driving the North America ceiling fans market.
COVID-19 is having a very devastating impact over the North America region. North America is an important market for the growth of ceiling fans products owing to the presence of developed countries such as the US and Canada in this region. The U.S has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is likely to impact the ceiling fans market in the region as, due to the COVID-19 outbreak, the supply and distribution chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth. The high number of COVID cases have resulted in a negative impact on the region’s economy and there has been a decline business activities and growth of various industries operating in the region. Nevertheless, the factory and business shutdowns across the US, Canada, and Mexico negatively impacted the sales of ceiling fans products, such as fan blades, motors, and other important parts. COVID-19 has had a severe impact on logistics operations, transportation, and trade activity. North America is home to many manufacturing and technology companies. Thus, the coronavirus outbreak's impact is anticipated to be quite severe and likely in remain in 2021. However, the impact of COVID-19 is short-term; it is likely to decrease in the coming years.
Strategic insights for the North America Ceiling Fans provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1,804.62 Million |
| Market Size by 2027 | US$ 2,684.58 Million |
| Global CAGR (2020 - 2027) | 5.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Ceiling Fans refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The ceiling fans market in North America is expected to grow from US$ 1,804.62 million in 2019 to US$ 2,684.58 million by 2027; it is estimated to grow at a CAGR of 5.2% from 2020 to 2027. The increasing demand for energy-efficient fans is used in various end-user applications, ranging from ceiling fans for domestic use to multiple blade fans of varying sizes and dynamic airflow that are used in different industrial cooling equipment and efficient airflow. For instance, the modern generation BLDC fans are the best ceiling fans on the market right now. BLDC ceiling fans stand for Brushless direct current ceiling fans. They are reliable, cost-effective, long-term, high-performance, and smart. They do not have brushes in the engine; instead, they place magnets for the motor's synchronized operation. The motor is powered by direct current via an inverter or a switching power supply, making it efficient. Most BLDC ceiling fans have a 5-star rating of 25-40 watts of energy, which is about 40-70 percent lower than regular old fans. Also, BLDC fans do not require the installation of an additional regulator that saves 200-500 rupees upstream. Instead, they are wirelessly controlled with the help of remote air conditioners. Some of these fans come with remote control, which makes it easier for you to manage them.
The North America ceiling fans market is segmented into product, fan size, and end-user. Based on product, the market is segmented into standard and decorative. The standard segment held the largest share of North America ceiling fans market in 2019. Based on fan size, the North America ceiling fans market is segmented into small, medium, and large. The medium segment held the largest share of North America ceiling fans market in 2019. Based on end-user, the North America ceiling fans market is segmented into residential, commercial, and industrial. Residential segment held the largest share of North America ceiling fans market in 2019.
A few major primary and secondary sources referred to for preparing this report on the ceiling fans market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Big Ass Fans, Crompton Greaves Consumer Electricals Limited, Havells India Ltd., Hunter Fan Company, Kichler Lighting LLC, Luminance Brands, Minka Lighting Inc., Panasonic Corporation, Westinghouse Electric Corporation.
The North America Ceiling Fans Market is valued at US$ 1,804.62 Million in 2019, it is projected to reach US$ 2,684.58 Million by 2027.
As per our report North America Ceiling Fans Market, the market size is valued at US$ 1,804.62 Million in 2019, projecting it to reach US$ 2,684.58 Million by 2027. This translates to a CAGR of approximately 5.2% during the forecast period.
The North America Ceiling Fans Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Ceiling Fans Market report:
The North America Ceiling Fans Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Ceiling Fans Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Ceiling Fans Market value chain can benefit from the information contained in a comprehensive market report.
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