China serves as a potential market for fan due to exponential increase in population along with rise in need for cost-effective ventilation systems. In addition, rise in trend of automation for improved temperature management has boosted the demand for smart fans, particularly in the residential and commercial sectors. This, in turn, has escalated the sales of ceiling fans, energy-efficient fan motors, and air purifier fans. Furthermore, the ongoing demand for bathroom, kitchen and attic fans is significantly contributing toward the market growth. Moreover, rise in adoption of connected fans, increase in investments in R&D to introduce energy-efficient fan products, and introduction of fans with innovative designs act as the primary drivers of the market.
In addition, increase in government initiatives for energy conservation has shifted the preference of consumers from manual fan controls to digital fan controllers. This is attributed to surge in demand for smart homes, which are incorporated with advanced automation systems that facilitate remote operation of the fan. Such advancements have further resulted in the development of sensors, which monitor the temperature.
However, lack of on-site exhibitions affects consumers' awareness of various fans available in the market, which hampers the market growth. Furthermore, high cost associated with energy-efficient fan motors acts as the key deterrent factor of the market. This is attributed to the fact that consumers are more willing to purchase fans, which are pocket-friendly over those with advanced features.
In addition, the outbreak of the COVID-19 pandemic has had a severe impact on the fan market in Chian, the market growth. In addition, rise in penetration which is due to the limited supply of raw material and low demand due to border restrictions.
On the contrary, increase in manufacturing of energy-efficient fan motors is anticipated to open new avenues for of online platforms is expected to offer remunerative opportunities for the market expansion on the coming future. This would boost the market to manufacture and distribute fans through different channels. Moreover, smart home systems are gaining high traction, which is projected to propel the demand for smart fans.
The China fan market is segmented into product type, end user, and distribution channel. By product type, the market is segregated into ceiling fan, pedestal fan, table fan, exhaust fan, wall fan, and others.
On the basis of end user, it is bifurcated into residential and light commercial.
Depending on distribution channel, it segregated into multibrand store, hypermarkets, exclusive store, and online, others.
The Porter's five force analysis is used to evaluate the competitive landscape of the China fan market. The analysis is based on the bargaining power of suppliers, bargaining power of buyers, threat of new entrants, threat of substitutes, and market rivalry. The bargaining power of suppliers is low as there are a large number of suppliers in the market, which puts pressure on the cost of the fan motors, designs, and other components.
The bargaining power of buyers is high as the demand for fans is high and the presence of a number of suppliers. This further allows them to negotiate prices, which, in turn, increases the competition in the market. The threat of new entrants has increased significantly as the threat of losing customers has encouraged existing fan suppliers to continuously launch new designs and models. This has made it easier for new players to enter the market, making the competition more intense.
The threat of substitutes is low due to the limited availability of alternatives to the traditional fan designs. The market is relatively concentrated, which prevents the demand for substitutes from increasing.
The market rivalry is expected to rise due to the increased competition. There are a large number of players in the market, which has led to price wars and consolidation, thereby increasing the competition in the market.
Some of the key players profiled in the China fan market analysis include Hisense, Gree, Xiaomi, Midea, Haier, Tcl, Panasonic, Skyworth, Konka, and Chigo.
Key Benefits For Stakeholders
- Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
- Analyze the key strategies adopted by major market players in china fan market.
- Assess and rank the top factors that are expected to affect the growth of china fan market.
- Top Player positioning provides a clear understanding of the present position of market players.
- Detailed analysis of the china fan market segmentation assists to determine the prevailing market opportunities.
- Identify key investment pockets for various offerings in the market.
China Fan Market Report Highlights
| Aspects | Details |
 Forecast period | 2021 - 2031 |
 Report Pages | 74 |
 By Product Type |
|
 By End User |
|
 By Distribution Channel |
|
 Key Market Players | Skyworth, Haier, Panasonic, Hisense, Chigo, Midea, Konka, Xiaomi, Tcl, Gree |
The China Fan Market is estimated to reach $1.8 billion by 2031
Hisense, Gree, Xiaomi, Midea, Haier, Tcl, Panasonic, Skyworth, Konka, Chigo are the leading players in China Fan Market
1. Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
2. Analyze the key strategies adopted by major market players in china fan market.
3. Assess and rank the top factors that are expected to affect the growth of china fan market.
4. Top Player positioning provides a clear understanding of the present position of market players.
5. Detailed analysis of the china fan market segmentation assists to determine the prevailing market opportunities.
6. Identify key investment pockets for various offerings in the market.
China Fan Market is classified as by product type, by end user, by distribution channel
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