Pune, Maharashtra Dec 12, 2022 (Issuewire.com) - The market value of the portable fan market will grow by $795.59 million with a CAGR of 5.18% from 2021 to 2026. APAC will be responsible for the 40% growth of the fan market.
Whereas the electric fan market is set to grow by $2.70 billion with a 3.09% CAGR from 2021 to 2026. The large ceiling fan segment is covered by the electrical fan market. With the increased use of ceiling fans as decorative applications, there are daily new product innovations under the segment. Over time designer ceiling fans have become an integral part of deciding the interior of any space.
The new report with the name of “India Ceiling Fan Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 published by IMARC Group. In India, the ceiling fan market is expected to grow by 2.60 percent CAGR in the period of 2022-2027.
China, India, and Japan are the primary markets for the brushless direct current fan market. But, the market of BLDC in the following geographic location is slower than the growth of the market in South America. In the year 2022, the Y-O-Y growth rate for the BLDC fan market is 6.75%.
The growing demand for energy-efficient electrical fans is high. Customers want a fan that is both energy efficient and small with a smart cooling system like the BLDC ceiling fans of The Fan Studio.
Due to their high energy efficiency, BLDC fans are commonly used in households. As the product cost of such ceiling fans is high, it is expected to reduce product sales in underdeveloped countries. Due to the cost sensitivity, BLDC is not that popular among Indian consumers. But, due to the fan manufacturers and sellers like Fan Studio, the cost of BLDC fans has become quite affordable.
As magnet and motor control components are imported from China, it affects the market growth of designer ceiling fans.
The BLDC fan market is segmented into two parts commercial and residential. The growth of the commercial segment will be significant during the forecast period. Moreover, in the commercial segment, the growth will be driven by the high demand for tiny and compact DC fans in electrical equipment. To compete in the market, fan manufacturers and sellers are focusing on multiple growth strategies like quality, price, service, brand image, and marketing of the products.
In India, the reason for the ceiling fan growth rate is the increasing availability of electricity across the country with the new design of premium lighting and decorative fans.
Media Contact
The Fan Studio praptimore@thefanstudio.com 09881290494 Nityanand Complex, Shop No 10 & 11A, G. FLoor, Bund Garden Road, Sangamvadi, Pune https://www.thefanstudio.com/
