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Upcoming Allied Market Research
2021
Fan Market

Fan Market by Product Type (Standard Fan, Wall Fan, Table Fan, Exhaust Fan, Ceiling Fan, Pedestal Fan, and Others), End User (Households, Corporate Offices, Hospitality, Educational Institutions, Cafes, and Others), and Distribution Channel (Multi Brand Store, Exclusive Store, Hypermarkets, Online, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12405
Pages: NA
Sep 2021 | 210 Views
   
Author(s) : Roshan Deshmukh
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Charts: NA
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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A fan is a power-consuming electrical device that generates circular air movements to provide airflow. An electric fan is made up of different components such as an electric motor, blades, blade irons, flywheel, rotor, and fan mounting methods, such as a ball and socket system. Another element which is predicted to support the growth of the target market is the increased use and distribution through retail stores or online sales platform for electricity fans. Additionally, increased disposable revenue and increased desire for modular houses lead to a greater need for electric suppliers for tailored users. As a result, the growth of the worldwide electric fan market is projected to increase. Recent advances and developments in products such as different combinations of colors, forms and patterns are likely to help the fan industry to expand. Due to the outbreak of the COVID-19 pandemic, countries had to enforce lockdown that halted the progress of constructions of new properties and households. Therefore, the demand for fans has decreased as there was no requirement.

Market Scope and Structure Analysis                                                            

Report Metric

Details

 Market Size Available for Years

 2020–2030

 Base Year Considered

 2020

 Forecast Period

 2021–2030

 Forecast Unit

 Value (USD)

 Regions Covered

 North America, Europe, Asia-Pacific, and LAMEA

 Segments Covered

 Product Type, End User, Distribution Channel and Region

 Companies Covered

Shell Electric Holdings limited, Emerson Electric Co, NuTone, Inc., The Henley Fan Company Ltd., Compton Greaves Consumer Electricals Limited, Hunter Fan Company, Ajanta Electrical Pvt Ltd., Westing House Electric Corporation, Minka Group, and Panasonic Corporation.


COVID-19 Impact Analysis

  • Countries had to enforce lockdown that halted the progress of constructions of new properties and households due to the outbreak of the COVID-19 pandemic. The demand for fans has decreased as there was no requirement. The fan manufacturing companies witnessed a dip in production as sufficient workers were not available to continue the production process.
  • The disruption in the distribution channel was the prime cause as adequate raw materials could not reach the industries for production; the delivery of finished products to the procuring companies was not possible.
  • Consumers had shifted their interest toward essential goods and had no requirement for a fan during the lockdown period. It is expected that in post lockdown, the demand will rise as the construction of the properties will start to operate.

Top Impacting Factors

  • The building of properties, commercial complex, was in full force during the pre-COVID period. This aspect led to the necessity for large fans and various designs as necessary. The sales of new houses, lifestyle changes, high availability revenues, growing urbanization and living standards increase fans' growth. Currently, customers are more concerned than with a luxury fan for decor, with meeting their needs.
  • There is an increase in online market sales of door handles over brick and mortar shops. Appropriate pricing transparency is the reason why consumers are encouraged to shop online. At this moment, individuals want to shop online as they do not have enough time to walk outdoors. The consumer will be encouraged to buy online to increase transparency in the product data on e-commerce sites prices. Firms strive to contact clients online through creative ways and behave accordingly.

Market Trends

Improvement of lifestyle and urbanization leads to a surge in demand

The increase in the sale of homes, an adaptation of urban culture, and recognition of the need for stylish fans are increasing the growth of the fan market. Companies are bringing innovations into the limelight that is expected to match the existing wants and requirements of the customers. Hotel industries are adapting to transform the ambience for the guests with a royal touch, as they are mainly focusing on the installation of brass fans as they offer a shiny artistic look to the interior and exterior doors of the infrastructure.

The growth of ceiling fan is increasing than other types of fans

The need for ceiling fans in the housing industry, particularly in developing nations, is increasing. For example, the Chinese and Indian governments are developing new plans to house low- and middle-income individuals. Furthermore, expansion in the business, hotel, and retail industries supports the market growth. As consumer revenues and increase in power availability have increased, the demand for ceiling fans has increased significantly. Moreover, corporations create luxury products, such as fans of lighting, supports of ornaments, and others that allow them more room to improve their revenue. The governments of some emerging economies set themselves the objective of supplying power to the rural areas that should affect demand for ceiling fans in the future.

 Key Segments Covered

Product Type

  • Standard Fan
  • Wall Fan
  • Table Fan
  • Exhaust Fan
  • Ceiling Fan
  • Pedestal Fan
  • Others

End User

  • Households
  • Corporate Offices
  • Hospitality
  • Educational Institutions
  • Cafes
  • Others

Distribution Channel

  • Multi Brand Stores
  • Exclusive Stores
  • Hypermarkets
  • Online
  • Others

Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Benefits of the Report

  • This study presents the analytical depiction of the fan industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the fan market share.
  • The current market is quantitatively analyzed from 2020 to 2028 to highlight the fan market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed fan market analysis on the basis of competitive intensity and how the competition will take shape in coming years

Questions Answered in the Report

  • Who are the leading market players active in the fan market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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