Household Fans Market is expected to reach US$ 20.18 Billion by 2031

Asia Pacific Dominated Household Fans Market in 2023

According to our latest market study on “Household Fans Market Forecast to 2031 – Global Analysis – by Product Type and Distribution Channel,” the market was valued at US$ 13.67 billion in 2023 and is projected to reach US$ 20.18 billion by 2031; it is anticipated to record a CAGR of 5.0% from 2023 to 2031. The report includes growth prospects owing to the current household fans market trends and their foreseeable impact during the forecast period.

In 2023, North America had a significant household fans market share. North America is one of the most significant regions for companies in the global household fans market, as there has been a noticeable shift in this region toward energy-efficient cooling options. The household fans market in North America is segmented into the US, Canada, and Mexico. Consumers in these countries continuously seek economical household cooling options that reduce the need for excessive energy. Besides the excessive use of air conditioners, sustainability has become a primary concern, leading to the popularity of household fans. Factors such as the cost-effectiveness and durability of household fans and increased construction activity in the region positively impact the market growth. The widespread usage of household fans in the residential sector also fuels the North America household fan market growth. Ceiling fans are considered the most effective type of household fan as they can circulate air inside the room to create a draft throughout the room. The increasing spending on home renovation activities is expected to be the major trend for the household fan market in the region in the coming years. Further, the US is the largest economy in North America. High disposable income and a shift in consumer lifestyle attract consumers to invest in new construction activities and improve the existing structures. According to the US Census Bureau, spending on building and construction in the US public and private sectors between January 2022 and February 2022 amounted to US$ 237.8 billion, reporting a growth of 10.4% compared to the same period in 2021. During the forecast period, a surge in residential construction activities is anticipated to propel the household fans market growth in the US.

Global Household Fans Market Breakdown – by Region

In Asia Pacific, the rising urbanization and increasing disposable income of the middle-class population drive the demand for modern and convenient home appliances, including household fans such as ceiling fans, pedestal fans, table fans, wall fans, and exhaust fans. In recent years, several trends have shaped the household fans market in emerging countries such as China, Japan, South Korea, India, and Australia. One of these trends is the growing preference for multifunctional household fans. Consumers seek versatile products that perform multiple tasks, promoting efficiency and energy-saving in their household. As a result, manufacturers have responded to these demands by developing innovative household fans.

In terms of revenue, in Asia Pacific, China accounted for the largest household fans market share. China is one of the fastest-growing economies worldwide. Almost all industries in the country are experiencing significant growth due to improving living standards, increasing population, and growing per capita income. The government of China is expected to spend US$ 13 trillion yearly on the construction of buildings by 2030. As per the National Bureau of Statistics of China, the construction output value in China grew from US$ 1.51 trillion in 2010 to US$ 4.34 trillion in 2022. In addition to the continuous population growth, rising household income levels and the increasing number of people migrating from rural to urban areas favor the proliferation of the residential construction industry. The augmented focus on affordable housing by the public and private sectors further contributes to the expansion of the residential construction industry, which fuels the demand for household fans in China. Further, the housing authorities of Hong Kong have launched various measures to encourage low-cost housing. The officials aim to offer 301,000 public housing units by 2030. Such initiatives by the government of China fuel the market growth in the country. All these properties of household fans play a major role in contributing to the household fans market growth in the country. India is another major economy contribution to the growth of the household fans market in APAC. In terms of value, the household fans market in India was valued at US$ 848.40 million in 2023 and is projected to reach US$ 1,452.13 million by 2031; it is expected to register a CAGR of 6.9% during the forecast period. The construction industry in India includes the real estate and the urban development segment. The real estate segment primarily covers the residential sector.

Global Household Fans Market: Trends

Smart ceiling fans are designed to work seamlessly with other home devices, such as thermostats, lights, WiFi, and security systems. The fans can be controlled by dedicated mobile apps that offer extensive control options, including scheduling, speed adjustments, and energy usage monitoring. Smart ceiling fans also reduce energy consumption resulting in lower electricity bills compared to conventional fans. The ability to control fans remotely and via voice commands can add a significant convenience factor. The rising demand for smart appliances prompts key market players to cater to the demand for smart ceiling fans.

In April 2024, Nex launched ceiling fans under the Dryft and Glyde series, offering 20% high air thrust. It features an IoT model, BLDC motor, Smart Connect–App, remote operation, and connection with Google Assistant and Amazon Alexa. In 2023, Atomberg launched the Internet of Things (IoT)-enabled smart ceiling fans called Atomberg Smart 2.0 series. It features in-app voice control, allowing consumers to operate the smart fans with voice commands. The app offers several other features, including performance analytics, enabling users to help track real-time metrics of their fan, such as run time, electricity consumption, and energy savings. However, air coolers add moisture to the air, which can be beneficial in dry climates, without altering the air moisture content. As consumers seek more effective cooling solutions, the adoption of air coolers has been on the rise. Air cooler manufacturers are cost-effective alternatives. The competitive pricing strategies of these manufacturers make it a favorable alternative option for traditional fans. Thus, the development and adoption of smart ceiling fans will likely promote the growth of the household fans market size in the coming future.

Crompton Greaves Consumer Electricals Ltd; Honeywell International Inc; Lasko Products, LLC; Vornado Air, LLC; Panasonic Holdings Corp; Hunter Fan Co; Ozeri; SEG Products Inc; SEB SA; and TOSHIBA CORPORATION are among the key players profiled in the household fans market report.  

The household fans market involves the segmentation of the market based on:

The household fans market analysis is based on product type, distribution channel, and geography. Based on product type, the household fans market is segmented into ceiling fan, pedestal fan, table fan, exhaust fan, wall fan, and others. In terms of distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The scope of the household fans market report focuses on North America (US, Canada, and Mexico), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).      

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