North America Ceiling Fans Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Standard and Decorative), Fan Size (Small, Medium, and Large), and End-User (Residential, Commercial, and Industrial)
Market Introduction
A ceiling fan, fixed on the ceiling of a room, helps in air circulation, and creates a cooling effect by evaporating sweat and increases heat exchange through convection. Ceiling fans use considerably less power than air conditioning, and hence they are popular among middle-class customers. In addition to cost efficiency, ceiling fans also have a long lifespan. Urbanization in emerging economies across the North America is promoting the establishment of new residential buildings and is subsequently aiding the market expansion. Furthermore, 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, lighting fans, and smart fans with the feature of voice control and connectivity access to tablets and smartphones. The key players in the region are continuously improving the overall business processes to meet the customers' demand for superior quality products and services in the best possible way. Several domestic and multinational companies already have a strong foothold in North American countries like the U.S. and Canada. According to the data by Natural Resources Defense Council, more than 80 million American households have at least one ceiling fan. The U.S. Department of Energy finalized an updated energy efficiency standard for ceiling fans, which will reduce consumer energy bills, save energy, and help limit global warming, without restricting the ability of this equipment to enhance indoor air quality and maintain comfort. Also, technologically advanced consumer durable at high demand is a major factor driving the North America ceiling fans market.
COVID-19 is having a very devastating impact over the North America region. North America is an important market for the growth of ceiling fans products owing to the presence of developed countries such as the US and Canada in this region. The U.S has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is likely to impact the ceiling fans market in the region as, due to the COVID-19 outbreak, the supply and distribution chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth. The high number of COVID cases have resulted in a negative impact on the region’s economy and there has been a decline business activities and growth of various industries operating in the region. Nevertheless, the factory and business shutdowns across the US, Canada, and Mexico negatively impacted the sales of ceiling fans products, such as fan blades, motors, and other important parts. COVID-19 has had a severe impact on logistics operations, transportation, and trade activity. North America is home to many manufacturing and technology companies. Thus, the coronavirus outbreak's impact is anticipated to be quite severe and likely in remain in 2021. However, the impact of COVID-19 is short-term; it is likely to decrease in the coming years.
Get more information on this report :
Market Overview and Dynamics
The ceiling fans market in North America is expected to grow from US$ 1,804.62 million in 2019 to US$ 2,684.58 million by 2027; it is estimated to grow at a CAGR of 5.2% from 2020 to 2027. The increasing demand for energy-efficient fans is used in various end-user applications, ranging from ceiling fans for domestic use to multiple blade fans of varying sizes and dynamic airflow that are used in different industrial cooling equipment and efficient airflow. For instance, the modern generation BLDC fans are the best ceiling fans on the market right now. BLDC ceiling fans stand for Brushless direct current ceiling fans. They are reliable, cost-effective, long-term, high-performance, and smart. They do not have brushes in the engine; instead, they place magnets for the motor's synchronized operation. The motor is powered by direct current via an inverter or a switching power supply, making it efficient. Most BLDC ceiling fans have a 5-star rating of 25-40 watts of energy, which is about 40-70 percent lower than regular old fans. Also, BLDC fans do not require the installation of an additional regulator that saves 200-500 rupees upstream. Instead, they are wirelessly controlled with the help of remote air conditioners. Some of these fans come with remote control, which makes it easier for you to manage them.
Key Market Segments
The North America ceiling fans market is segmented into product, fan size, and end-user. Based on product, the market is segmented into standard and decorative. The standard segment held the largest share of North America ceiling fans market in 2019. Based on fan size, the North America ceiling fans market is segmented into small, medium, and large. The medium segment held the largest share of North America ceiling fans market in 2019. Based on end-user, the North America ceiling fans market is segmented into residential, commercial, and industrial. Residential segment held the largest share of North America ceiling fans market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the ceiling fans market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Big Ass Fans, Crompton Greaves Consumer Electricals Limited, Havells India Ltd., Hunter Fan Company, Kichler Lighting LLC, Luminance Brands, Minka Lighting Inc., Panasonic Corporation, Westinghouse Electric Corporation.
Reasons to buy report
- To understand the North America ceiling fans market landscape and identify market segments that are most likely to guarantee a strong return.
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America ceiling fans market.
- Efficiently plan M&A and partnership deals in North America ceiling fans market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America ceiling fans market.
- Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.
North America Ceiling Fans Market Segmentation
North America Ceiling Fans Market - By Product
- Standard
- Decorative
North America Ceiling Fans Market - By Fan Size
- Small
- Medium
- Large
North America Ceiling Fans Market - By End-User
- Residential
- Commercial
- Industrial
North America Ceiling Fans Market - By Country
- US
- Canada
- Mexico
North America Ceiling Fans Market - Company Profiles
- Big Ass Fans
- Crompton Greaves Consumer Electricals Limited
- Havells India Ltd.
- Hunter Fan Company
- Kichler Lighting LLC
- Luminance Brands
- Minka Lighting Inc.
- Panasonic Corporation
- Westinghouse Electric Corporation
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Ceiling Fans Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.2.1 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Ceiling Fans Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Technologically Advanced Consumer Durables at High Demand
5.1.2 Boost in Purchasing of Premium Quality Decorative Items
5.2 Market Restraint
5.2.1 Presence of Substitute Products
5.3 Market Trends
5.3.1 Rising Demand for Energy Saving Fans
5.4 Impact Analysis of Drivers and Restraints
6. Ceiling Fans Market – North America Analysis
6.1 North America Ceiling Fans Market Overview
6.2 North America Ceiling Fans Market –Revenue and Forecast to 2027 (US$ Million)
7. North America Ceiling Fans Market Analysis – By Product
7.1 Overview
7.2 North America Ceiling Fans Market, By Product (2019 and 2027)
7.3 Standard
7.3.1 Overview
7.3.1.1 Standard: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Decorative
7.4.1 Overview
7.4.1.1 Decorative: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
8. North America Ceiling Fans Market Analysis – By Fan Size
8.1 Overview
8.2 North America Ceiling Fans Market, By Fan Size (2019 and 2027)
8.3 Small
8.3.1 Overview
8.3.1.1 Small: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Medium
8.4.1 Overview
8.4.1.1 Medium: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Large
8.5.1 Overview
8.5.1.1 Large: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
9. North America Ceiling Fans Market Analysis – By End- User
9.1 Overview
9.2 North America Ceiling Fans Market, By End- User (2019 and 2027)
9.3 Residential
9.3.1 Overview
9.3.1.1 Residential: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.1.1 Commercial: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.1.1 Industrial: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
10. North America Ceiling Fans Market – Country Analysis
10.1 Overview
10.1.1 North America: Ceiling Fans Market, by Key Country
10.1.1.1 US: Ceiling Fans Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 US: Ceiling Fans Market, by Product
10.1.1.1.2 US: Ceiling Fans Market, by Fan Size
10.1.1.1.3 US: Ceiling Fans Market, by End-User
10.1.1.2 Canada: Ceiling Fans Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 Canada: Ceiling Fans Market, by Product
10.1.1.2.2 Canada: Ceiling Fans Market, by Fan Size
10.1.1.2.3 Canada: Ceiling Fans Market, by End-User
10.1.1.3 Mexico: Ceiling Fans Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Mexico: Ceiling Fans Market, by Product
10.1.1.3.2 Mexico: Ceiling Fans Market, by Fan Size
10.1.1.3.3 Mexico: Ceiling Fans Market, by End-User
11. Impact of COVID-19 Pandemic on North America Ceiling Fans Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Merger and Acquisition
12.2 New Development
13. Company Profiles
13.1 Big Ass Fans
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Kichler Lighting LLC
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Minka Lighting Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.4 Luminance Brands
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Crompton Greaves Consumer Electricals Limited
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.6 Havells India Ltd.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Hunter Fan Company
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Westinghouse Electric Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.9 Panasonic Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products And Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Ceiling Fans Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. US Ceiling Fans Market, by Product– Revenue and Forecast to 2027 (USD Million)
Table 3. US Ceiling Fans Market, by Fan Size– Revenue and Forecast to 2027 (USD Million)
Table 4. US Ceiling Fans Market, by End-User– Revenue and Forecast to 2027 (USD Million)
Table 5. Canada Ceiling Fans Market, by Product– Revenue and Forecast to 2027 (USD Million)
Table 6. Canada Ceiling Fans Market, by Fan Size – Revenue and Forecast to 2027 (USD Million)
Table 7. Canada Ceiling Fans Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 8. Mexico Ceiling Fans Market, by Product– Revenue and Forecast to 2027 (USD Million)
Table 9. Mexico Ceiling Fans Market, by Fan Size – Revenue and Forecast to 2027 (USD Million)
Table 10. Mexico Ceiling Fans Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Ceiling Fans Market Segmentation
Figure 2. North America Ceiling Fans Market Segmentation – By Country
Figure 3. North America Ceiling Fans Market Overview
Figure 4. Residential Segment Held Largest Share of North America Ceiling Fans Market
Figure 5. US Held Largest Share of North America Ceiling Fans Market
Figure 6. Ecosystem Analysis
Figure 7. North America Ceiling Fans Market Impact Analysis of Driver and Restraints
Figure 8. North America: Ceiling Fans Market – Revenue and Forecast to 2027 (US$ Million)
Figure 9. North America Ceiling Fans Market Revenue Share, by Product (2019 and 2027)
Figure 10. North America Standard: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 11. North America Decorative: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 12. North America Ceiling Fans Market Revenue Share, by Fan Size (2019 and 2027)
Figure 13. North America Small: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. North America Medium: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. North America Large: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. North America Ceiling Fans Market Revenue Share, by End- User (2019 and 2027)
Figure 17. North America Residential: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. North America Commercial: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. North America Industrial: Ceiling Fans Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. North America: Ceiling Fans Market, by Key Country - Revenue 2019 (US$ Million)
Figure 21. North America: Ceiling Fans Market Revenue Share, by Key Country (2019 and 2027)
Figure 22. US: Ceiling Fans Market –Revenue and Forecast to 2027 (US$ Million)
Figure 23. Canada: Ceiling Fans Market –Revenue and Forecast to 2027 (US$ Million)
Figure 24. Mexico: Ceiling Fans Market –Revenue and Forecast to 2027 (US$ Million)
Figure 25. Impact of COVID-19 Pandemic in North American Country Markets
- Big Ass Fans
- Crompton Greaves Consumer Electricals Limited
- Havells India Ltd.
- Hunter Fan Company
- Kichler Lighting LLC
- Luminance Brands
- Minka Lighting Inc.
- Panasonic Corporation
- Westinghouse Electric Corporation
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America ceiling fans market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America ceiling fans market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the ceiling fans market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution