The ceiling fans market in MEA is expected to grow from US$ 1,444. 39 million in 2019 to US$ 2,409. 66 million by 2027; it is estimated to grow at a CAGR of 6. 7% from 2020 to 2027. Modern customers tend to spend on appliances that are both durable and attractive.
New York, May 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East & Africa Ceiling Fans Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Fan Size, and End-User" - https://www.reportlinker.com/p06075703/?utm_source=GNW
The increasing spending on high-quality home decor in several countries in the MEA is encouraging the use of ceiling fans with added features such as layered light fixtures and interchangeable blades. Furthermore, manufacturers are introducing premium products such as lighting fans and decorative fans, which is boosting the sales of decorative ceiling fans. Moreover, the expenditure on interior decoration as a result of growing awareness of different designs for the home as well as commercial interiors through robust campaigns on social media platforms, including Facebook, Pinterest, and Instagram, is expected to have a positive impact on the growth of the ceiling fans market Furthermore, companies are offering creative ceiling fans to improve the internal appeal of households. In urban areas, few companies sell custom ceiling fans with 3 and 4 blades. Growing customer demand for renovation of their home after a certain period increases the availability of different decorative ceiling fans, such as rustic ceiling fans, contemporary ceiling fans, black ceiling fans, fancy ceiling fans, etc. Globalization has led to a broader consumer market, which encourages easier product selection of a wide range of goods across multiple distribution networks. In addition, the development of the interior design industry paved the way for fancy and luxury ceiling fans to provide visitors with an enriching experience which will further increase the demand for premium quality decorative ceiling fans. Additionally, rising demand for energy efficient fans is a major factor driving the MEA ceiling fans market.
Based on product, the decorative segment is expected to register the highest CAGR in the MEA ceiling fans market during forecast period.The market for decorative appliances is increasing with the increase in preference for home renovation to have modern décor. In addition, the expenditure on interior decoration as a result of growing awareness of various designs for the home as well as commercial interiors through comprehensive campaigns on social media platforms, including Facebook, Pinterest, and Instagram, is expected to have a positive impact on the growth of the segment. In addition, manufacturers introduce creative goods with a customization option. This increases the appearance of both residential and industrial spaces. For example, a few manufacturers offer customized products with four blades and different attractive designs. Different types of decorative ceiling fans available in the market include rustic ceiling fans, black ceiling fans, contemporary ceiling fans, and others.
The MEA comprises growing economies such as the UAE and Saudi Arabia, which are prospective markets for ceiling fan providers, owing to the presence of diverse customer base for the consumer goods sector.The ongoing COVID-19 pandemic is having disruptive effects on the region.
Among the MEA countries, South Africa has reported the highest COVID-19 cases.Other countries facing the significant economic impact of COVID-19 include Iran, Turkey, Saudi Arabia, Israel, Morocco, UAE, Qatar, Kuwait, Oman, and Egypt.
Factory and business shutdowns, and travel bans are further aggravating the economic problems of the countries in the MEA. Hence, the ongoing pandemic is negatively impacting the ceiling fans market growth in the MEA.
The MEA ceiling fans market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the MEA ceiling fans market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the MEA ceiling fans market. Crompton Greaves Consumer Electricals Limited, Fantasia Ceiling Fans, Havells India Ltd., Hunter Fan Company, and Panasonic Corporation are among the key players operating in market in this region.
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