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Ceiling Fans Market Analysis 2021: expected to grow at a CAGR of 6.0%, Companies Business, Marketing Strategy, Challenges and Potential Benefits till 2027

The Ceiling Fans Market was valued at US$ 10,189.33 million in 2019 and is projected to reach US$ 16,172.19 million by 2027; it is expected to grow at a CAGR of 6.0% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market. Million

Ceiling fans facilitate air circulation and create a cooling effect by accelerating sweat evaporation and heat exchange through convection. Ceiling fans use considerably less power than air conditioning, and hence they are popular among middle-class populations. In addition to the cost benefits, they feature longer life span than air conditioners. Growing urbanization in emerging economies is promoting the establishment of new residential buildings. In addition, 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 and lighting fans, and smart fans with features such as voice control and connectivity access to tablets and smartphones.

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The Key Players profiled in the Ceiling Fans Market research study includes:

  • Big Ass Fans
  • Kichler Lighting LLC
  • Minka Lighting Inc.
  • Luminance Brands
  • Crompton Greaves Consumer Electricals Limited
  • Havells India Ltd.
  • Hunter Fan Company
  • Westinghouse Electric Corporation
  • Fantasia Ceiling Fans
  • Panasonic Corporation

Since, the key findings in the Ceiling Fans Market research reports highlight crucial progressive industry trends, it allows the companies across the value chain to develop effective long-term strategies. The clients get to understand a clear picture of the competitors and can develop strategies and modify business expansion plans accordingly. The Ceiling Fans Market research reports cover thousands of global players that based on several parameters, such as company revenue, product portfolio, and geographic presence.

The Insight Partners adheres to the codes of practice of the Market Research Society and Strategic and Competitive Intelligence Professionals. The following methodology has been followed for the collection and analysis of data presented in this report:

Coverage:

The objective of updating “The Insight Partners” coverage is to ensure that it represents the most up-to-date vision of the industry possible. The estimated revenues of all major companies, including private and governmental, are gathered and used to prioritize coverage. Companies which are making the news, or which are of particular interest due to their innovative approach, are prioritized.

Secondary Research:

The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information relating to each Market. The secondary research sources that are typically referred to include, but are not limited to:

  • Company Websites, Annual Reports, Financial Reports, Broker Reports and Investor Presentations
  • Industry Trade Journals and Other Literature
  • National Government Documents, Statistical Databases and Market Reports
  • News Articles, Press Releases and Web-Casts Specific to the Companies Operating in the Market

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The report includes the segmentation of the global ceiling fans market as follows:

Ceiling Fans Market, by Product

  • Standard
  • Decorative

Ceiling Fans Market, by Fan size industry

  • Small
  • Medium
  • Large

Ceiling Fans Market, by End User

  • Residential
  • Commercial
  • Industrial

Impact of COVID-19 Pandemic on Ceiling Fans Market:

As of December 2020, the US, Brazil, India, Russia, Spain, and the UK are among the worst-affected countries in terms confirmed cases and reported deaths caused by COVID-19. The pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. China, is a manufacturing hub and the largest raw material supplier for various industries, is also one of the countries that experienced early effects of this pandemic. The lockdown of various plants and factories in China affected the global supply chains and disrupted manufacturing and delivery schedules, and sales of various materials. Different companies have already made announcements regarding possible delays in product deliveries and slump in future sales of their products. In addition, travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships. These factors are limiting the growth of several industries, including the consumer electronics industry.

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NOTE: All the financials considered in Company Profile’s section have been standardized to US$. This has been achieved after converting the financials (for those not in US$) with respective currency exchange rates of the particular year.

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