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Ceiling Fan Market Trends

Report ID: GMI7852
Published Date: Jan 2024
Report Format: PDF

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Ceiling Fan Market Trends

The market is witnessing a transformative shift driven by notable technological advancements. Smart fans have emerged as a prominent trend, integrating cutting-edge technology to provide users with enhanced control and convenience. These fans are often equipped with remote controls, mobile apps, and compatibility with smart home systems, allowing users to adjust settings, set schedules, and monitor energy consumption remotely. For instance, Atomberg launched a new range of Internet of Things (IoT)-enabled smart ceiling fans called Atomberg Smart 2.0 series. These fans have in-app voice control that would enable consumers to operate these smart fans with voice commands.

With a growing awareness of environmental sustainability and a desire for cost-effective solutions, consumers are increasingly prioritizing ceiling fans designed to minimize power consumption. The energy-saving fan’s market is expected to grow at the fastest CAGR of 3.3%. Manufacturers are responding by incorporating energy-efficient technologies, such as advanced motor designs, LED lighting options, and smart features that optimize performance while conserving energy. Energy Star certified ceiling fans are gaining popularity, reflecting the industry's commitment to providing eco-friendly cooling solutions without compromising on performance or style.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Ceiling fan industry size was USD 12.1 billion in 2023 and is expected to register over 3.4% CAGR from 2024-2032 owing to the increasing availability of smart ceiling fans, controllable through voice assistance devices worldwide.

The standard fans segment held 67.1% share of the ceiling fan industry in 2023 and is expected to register an appreciable CAGR from 2024-2032 owing to their ability to offer practical functionality without breaking the bank.

Asia Pacific held 49% share of the ceiling fan industry in 2023 and is expected to register a commendable CAGR from 2024-2032 due to the tropical climate prevalence in many Asian countries.

Emerson Electric Co., Hunter Fan Company, Crompton Greaves, Shell Electric Holdings Ltd., Panasonic, The Henley Fan Company, and Casablanca Fan Company are some of the major ceiling fan companies worldwide.