At 5.3% CAGR, North America Household Fans Market is Projected to be Worth US$ 4,575.13 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America household fans market was valued at US$ 3,034.64 million in 2023 and is expected to reach US$ 4,575.13 million by 2031, registering a CAGR of 5.3% from 2023 to 2031. Development and adoption of smart ceiling fans and growing sales of home appliances through e-commerce channel are among the critical factors attributed to drive the North America household fans market growth.

Smart ceiling fans are designed to work seamlessly with other home devices such as thermostats, lights, WiFi, and security systems. The fans can be controlled by dedicated mobile apps that offer extensive control options, including scheduling, speed adjustments, and energy usage monitoring. Smart ceiling fans also reduce energy consumption resulting in lower electricity bills compared to conventional fans. The ability to control fans remotely and via voice commands can add a significant convenience factor. The rising demand for smart appliances prompts key market players to cater to the demand for smart ceiling fans. In April 2024, Nex launched ceiling fans under Dryft and Glyde series, offering 20% high air thrust. It features IoT model, BLDC motor, Smart Connect - App, remote operation, and connection with Google Assistant and Amazon Alexa. Thus, the development and adoption of smart ceiling fans are expected to become a major trend in the household fans market in the coming years.

On the contrary, the competition from substitute cooling solutions hampers the growth of North America household fans market.

Based on product type, the North America household fans market is segmented into ceiling fan, pedestal fan, table fan, exhaust fan, wall fan, and others. The ceiling fan segment held 45.9% market share in 2023, amassing US$ 1,391.81 million. It is projected to garner US$ 2,143.56 million by 2031 to register 5.5% CAGR during 2023-2031.

In terms of distribution channel, the North America household fans market is categorized into supermarkets & hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 35.8% share of North America household fans market in 2023, amassing US$ 1,085.51 million. It is anticipated to garner US$ 1,626.35 million by 2031 to expand at 5.2% CAGR during 2023-2031.

Based on country, the North America household fans market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 73.4% share of North America household fans market in 2023. It was assessed at US$ 2,222.17 million in 2023 and is likely to hit US$ 3,431.92 million by 2031, registering a CAGR of 5.6% during 2023-2031.

Key players operating in the North America household fans market are Honeywell International Inc; Lasko Products, LLC; Vornado Air, LLC; Panasonic Holdings Corp; Hunter Fan Co; Ozeri; SEG Products Inc; SEB SA; and TOSHIBA CORPORATION, among others.

• In March 2021, Hunter Fan Co expanded its SIMPLEconnect collection to fifteen fans. This line of tech-savvy, Wi-Fi-enabled fans compatible with Apple HomeKit, Google Assistant and Amazon Alexa. In addition to these platforms, the fans can be controlled with Hunter's proprietary SIMPLEconnect app.
• In July 2022, Lasko Products, LLC, announced the launch of two new Works with Alexa products -i.e., the Alexa-Enabled 48" Oscillating Tower Fan and Alexa-Enabled True HEPA Air Purifier - both the newly launched products are available on Amazon.
  
  

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