The global household fans market was worth $6.6 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 3.93% and reach $7.7 billion by 2023.
“The Household Fans Market Research Report” examines the existing as well as sequential performance of the worldwide market. The report also calculates the forthcoming status of Household Fans market based on thorough analysis. By providing exploratory techniques such as, qualitative and quantitative analysis the report presents a comprehensive analysis of market progression. Graphical presentation of information through charts, (graphs, diagrams, tables as well as pictures), the report provides a lucid and easy understanding of the market to readers.
Increased electrification especially in rural areas has contributed to the growth of the household fans market in the historic period. Electrification coupled with the rise in disposable income has boosted the demand for household fans. For example, in India, the percentage of rural population with access to electricity increased from 68.3% in 2010 to 89.3% in 2017. The Percapita net disposable income increased from $1,372.9 in 2013 to $2,018.53 in 2017 at a CAGR of 10.1%. Rise in disposable income increased the purchasing power of the people which in turn has increased the market for household fans.
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Companies Covered (Sales, Price, Revenue, Volume, Gross Margin and Market Share)-
Hunter Fan Company, Casablanca, Emerson Ceiling Fans, Minka, Monte Carlo, Craftmade, Litex, Fanimation, Kichler, Panasonic and Other.
Markets Covered: 1) By Type Of Product: Ceiling Fans; Table Fans; Pedestal Fans; Exhaust Fans; Wall Fans 2) By Type of Current: AC Residential Fans; DC Residential Fans 3) By Application: Home; Commercial 4) By Distribution Channel: Store-based Retailing; Direct Sales; Non-Store-based Retailing
Regional Outlook of Household Fans Market report includes the following geographic areas such as: United States, Europe, China, Japan, Southeast Asia, India, Central & South America and ROW
Increased tariffs on raw materials such as steel and aluminum restrained the market for household fans in the historic period. Steel and aluminum are predominantly used in manufacture of components such as blades for fans. Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, in 2018, USA imposed a 25% and 10% tariffs on import of steel and aluminum respectively.
Household fan manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to stringent government regulations on electric home appliances and advances in technology. Energy efficient fans are designed to utilize minimum energy. Currently, over 80 countries have standards and labels for energy efficient appliances. For example, in the USA, ENERGY STAR certified ceiling fans provide cutting edge design, use latest technology and are 60% more efficient than conventional ceiling fans.
In October 2019, Hunter Fan Company, manufacturer and distributer of fans has acquired Entrepreneurial Pursuits, Inc. for an undisclosed amount. This acquisition will help Hunter Fan Company to expand their product portfolio and allows the company to provide a more holistic solution to customers. Entrepreneurial Pursuits, Inc was engaged in manufacturing and distributing of fixed and rolling mount caged fan solutions for commercial and industrial uses.
More importantly, the report underscores participant’s financial performance which includes assessment of capital investments, cash flow, Household Fans sales volume, pricing structure, cost structure, gross margin, profitability, revenue outcome, and growth rate. The assessments enable market players to determine competitors’ financial strengths and dominance across the globe. Furthermore, the report analyzes business strategies adopted by participants that usually comprise recent business expansions, mergers, acquisitions, ventures, partnerships as well as promotional activities, technology adoption, brand developments, and product launches.
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Influence Of The Household Fans Market Report:
-Comprehensive assessment of all opportunities and risk in the market.
-Household Fans market recent innovations and major events.
-Detailed study of business strategies for growth of the market-leading players.
-Conclusive study about the growth plot of Household Fans market for forthcoming years.
-In-depth understanding of market-particular drivers, constraints and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the market.
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– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
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Finally, all aspects of the Global Household Fans Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects. The report supplies the international economic competition with the assistance of Porter’s Five Forces Analysis and SWOT Analysis.
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MarketInsightsReports provides syndicated market research on industry verticals including Household Fans, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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