North America Household Fans Market
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; it is estimated to register a CAGR of 5.3% from 2023 to 2031. Growing Number of Households and Residences Fuels North America Household Fans Market
The housing market growth is attributed to various factors such as population increase, urbanization trends, and favorable economic conditions. According to redfin, in the US, the number of houses sold in January 2024 was 284,121, which was 1.8% higher than the number of houses sold in January 2023. Residential construction is a crucial component of the private sector. It witnessed a noteworthy increase to a seasonally adjusted annual rate of US$ 856.3 billion in June 2023, marking a 0.9% rise from the revised May estimate of US$ 848.6 billion. In March 2023, the government launched the Housing Accelerator Fund worth US$ 2.96 billion to aid in the building of at least 100,000 homes across Canada. According to the US Census Bureau, in November 2023, the number of privately owned houses (at a seasonally adjusted annual rate) was 1.56 million units, a rise of 9.3% compared to 1.43 million units in November 2022.
According to a United Nations report, approximately 1.6 billion people globally lack adequate housing, and experts predict this number could increase to 3 billion by 2030. To provide housing for these 3 billion people, the world will need to construct 96,000 new affordable homes each day, as stated by UN-Habitat. Newly constructed homes often feature spacious living areas as integral components of modern residential designs, with leisure, entertainment, and relaxation spaces. The demand for home appliances is rising significantly due to the growing housing market. Thus, the growing number of households and residences drives the global household fans market growth.North America Household Fans Market Overview
North America is one of the most significant regions for companies in the household fans market, as there has been a noticeable shift in this region toward energy-efficient cooling options. The household fans market in North America is segmented into the US, Canada, and Mexico. Consumers in these countries continuously seek economical household cooling options that reduce the need for excessive energy. Besides the excessive use of air conditioners, sustainability has become a primary concern, leading to the popularity of household fans. Factors such as the cost-effectiveness and durability of household fans and increased construction activity in the region positively impact the market growth. The widespread usage of household fans in the residential sector also fuels the North America household fan market growth. Ceiling fans are considered the most effective types of household fans as they can circulate air inside the room to create a draft throughout the room. The increasing spending on home renovation activities is seen to be the major trend for the household fan market in the region in the coming years. A study by the National Association of Home Builders in 2022 discovered that new home buyers spend on average US$ 12,000 on renovations, US$ 5,000 on furnishing, and US$ 4,000 on home appliances. Environmentally friendly fans help consumers save on utility bills. Moreover, energy efficiency and the use of smart technology are extensively driving the adoption of household fans in North America.
North America Household Fans Market Revenue and Forecast to 2031 (US$ Million)
Strategic insights for the North America Household Fans provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the North America Household Fans refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Report Attribute
Details
Market size in 2023
US$ 3,034.64 Million
Market Size by 2031
US$ 4,575.13 Million
Global CAGR (2023 - 2031)
5.3%
Historical Data
2025-2031
Forecast period
2021-2023
Segments Covered
By Product Type
By Distribution Channel
Regions and Countries Covered
North America
Market leaders and key company profiles
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North America Household Fans Market Segmentation
The North America household fans market is categorized into product type, distribution channel, and country.
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 the largest market share in 2023.
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 the largest market share in 2023.
By country, the North America household fans market is segmented into the US, Canada, and Mexico. The US dominated the North America household fans market share in 2023.
Honeywell International Inc; Lasko Products, LLC; Vornado Air, LLC; Panasonic Holdings Corp; Hunter Fan Co; Ozeri; SEG Products Inc; SEB SA; and TOSHIBA CORPORATION are some of the leading companies operating in the North America household fans market.
The North America Household Fans Market is valued at US$ 3,034.64 Million in 2023, it is projected to reach US$ 4,575.13 Million by 2031.
As per our report North America Household Fans Market, the market size is valued at US$ 3,034.64 Million in 2023, projecting it to reach US$ 4,575.13 Million by 2031. This translates to a CAGR of approximately 5.3% during the forecast period.
The North America Household Fans Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Household Fans Market report:
The North America Household Fans Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Household Fans Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Household Fans Market value chain can benefit from the information contained in a comprehensive market report.
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