Household Type Fans Global Market Report 2024

The household type fans market size has grown steadily in recent years. It will grow from $31.3 billion in 2023 to $32.83 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The expansion observed in the historical period can be credited to robust economic growth in emerging markets, a low-interest rate environment, government schemes and initiatives promoting housing, an increase in the world population, and the growth of electrification.

The household type fans market size is expected to see steady growth in the next few years. It will grow to $38.66 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The anticipated expansion in the forecast period can be ascribed to the growth of the global population and urbanization, accelerated economic growth, the rise of e-commerce, the prevalence of the Internet of Things (IoT), an upswing in global construction activities, the advantages of energy savings, and a consistent increase in global temperatures. Prominent trends in the forecast period encompass the production of more energy-efficient fans, the introduction of new products leveraging IoT technology, the launch of bladeless fans, the utilization of AI to enhance efficiency, the provision of fans equipped with air purification technology, and the offering of BLDC (Brush-less Direct-Current) motor fans.

The household fans market is poised for growth in the forecast period, primarily fueled by increased electrification, particularly in rural areas. Electrification, combined with a surge in disposable income, has led to heightened demand for household fans. According to the US-based government agency, the Energy Information Administration, the total electricity end-use consumption in the US in 2022 witnessed a 2.6% increase compared to 2021, with retail electricity sales to the residential and commercial sectors surpassing the figures from 2021. The rise in net disposable income per capita, as reported by the Bureau of Economic Analysis in July 2023, contributed to increased purchasing power, thereby fostering growth in the household fans market.

The household fan market is also expected to benefit from the escalating global temperatures. Temperature, a measure of hotness or coldness, is crucial for understanding climate patterns. Household fans play a crucial role in cooling indoor spaces by circulating air, dissipating body heat, and creating a cooling effect, thus enhancing comfort during hot weather. For example, the National Oceanic and Atmospheric Administration reported in November 2023 that September 2023 marked the largest positive monthly global temperature anomaly on record, with a 0.46°C (0.83°F) increase from the previous record set in September 2020. As global temperatures continue to rise, the demand for household fans is expected to grow, driven by the need for effective cooling solutions.

Manufacturers of household fans are increasingly producing energy-efficient products as part of their commitment to reducing carbon footprints and promoting energy savings for consumers. The emergence of energy-efficient appliances is driven by stringent government regulations on electric home appliances and advancements in technology. These fans are specifically designed to minimize energy consumption. Presently, more than 80 countries have established standards and labels for energy-efficient appliances. In the USA, for example, ceiling fans certified by ENERGY STAR are at the forefront of design, employ the latest technology, and boast efficiency levels 60% higher than traditional ceiling fans.

Major players in the household fan market are strategically focusing on the development of innovative products, such as Fanmate, to maintain their market positions. Fanmate is a table fan equipped with a carbon filter designed to eliminate odors and purify the air. For instance, in March 2021, Havells India Ltd., an electrical equipment company based in India, introduced Fanmate. This fan features a luxurious satin matte finish, a leather handle, a touch button for user-friendly operation, and a USB connector for mobile charging. Additionally, it incorporates advanced functionalities such as remote control operation, underlighting, and an LED air purity indicator. The fan is also equipped with aerodynamic blades to ensure quiet operation and high air delivery.

In January 2022, Griffon Corporation, a multinational conglomerate based in the United States, completed the acquisition of Hunter Fan Company for a deal valued at $845 million. This strategic move by Griffon Corporation aims to enrich its product portfolio and reinforce its market presence. Hunter Fan Company, operating in the residential ceiling fan industry, brings valuable expertise to the Griffon Corporation portfolio through this acquisition.

Major companies operating in the household type fans market report are Midea, Crompton Greaves, Orient Electric, NuTone Inc., Havells India, Big Ass Fans, Hunter Fan Company, Lasko, Usha, Shell Electric Holdings Limited, Atomberg, Bajaj, Anchor, Longway, Ottomate, Jupiter, Foshan Carro Electrical Co Ltd., Shunde Damin Enterprise Group Co Ltd., Zhongshan Meihua Electrical Appliance Co Ltd., Cheng Tung Technology Co Ltd., Ningbo Kingsun Anchor Industrial Co Ltd., Shining Electrical Appliance Co Ltd., Sienhua Electric Fan Co Ltd., Comefri China, Zhongshan Kebaishi Electric Appliance Co Ltd., Cixi Changfeng Electrical Appliance Factory , Exhale FANS , CasaFan, Kroll Energy GmbH, Halifax Fan, Axair Fans, Henley Fan, FPZ S.p.A., Fans-tech Electric Co., Ltd., DLK Ventilatoren GmbH, LTG Aktiengesellschaft, Michell Instruments Ltd., AUSTAR , Electrolux, Haier, Bosch, Panasonic Corporation, KTD GROUP, Aisberg Company, Philips, Damco Shenzhen, Kinky Curly, Youngo Ltd., Casablanca, Emerson Ceiling Fans, Minka, Craftmade, Litex, Fanimation, Kichler, SMC, ACC, MOUNTAINAIR, King of Fans, Airmate, Ajanta Electricals, The Modern Fan Company, Trane Technologies Plc., Loren Cook Company, Greenheck Fan Corp., Howden Group Ltd., Continental Blower LLC., Masco Corporation, Burgan Aircondition & Ventalitions, MOHSEN KUWAIT ESTABLISHMENT, Alhasawi Industrial Group, Electro Al Jazirah, Fantasia Ceiling Fans, Fresh Electric S.A.E, Samsung Electronics Egypt S.A.E, Universal COMPANY, KIMBO EGYPT.

Asia-Pacific was the largest region in the household fans market share in 2023 Western Europe was the second-largest region in the global household type fans market. The regions covered in the household type fans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the household type fans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary product categories of household fans include ceiling fans, table fans, pedestal fans, exhaust fans, and wall fans. A ceiling fan, an electrically powered mechanical fan, is suspended from a room's ceiling to circulate air through hub-mounted rotating paddles. Household fans utilize various types of current, such as AC residential fans and DC residential fans. The distribution of fans is carried out through store-based retailing, direct sales, and non-store-based retailing channels, catering to both home and commercial applications.

The household fans market research report is one of a series of new reports that provides household fans market statistics, including household fans industry global market size, regional shares, competitors with household fans market share, detailed household fans market segments, market trends and opportunities, and any further data you may need to thrive in the household fans industry. This household fans market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The household fans market consists of sales of household electric fans including ceiling fans, table fans, pedestal fans, exhaust fans and wall fans. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.