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. 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 "North America Ceiling Fans Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Fan Size, and End-User" - https://www.reportlinker.com/p06075734/?utm_source=GNW
The increasing spending on high-quality home decor propels 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 gathering greater consumer attention toward these products, thereby boosting their demand and sales. Moreover, rising spending on interior decoration to modify home and commercial interiors as per the latest trends seen on social media platforms, including Facebook, Pinterest, and Instagram, is contributing to the ceiling fans market growth. Furthermore, companies are offering creative ceiling fans to improve the internal appeal of households. In urban areas, a few companies sell custom ceiling fans with 3 or 4 blades. Growing tendency of renovating homes after a certain period bolsters the demand for decorative ceiling fan varieties such as rustic ceiling fans, contemporary ceiling fans, black ceiling fans, and fancy ceiling fans. Further, globalization has led to a broader consumer market, which facilitates easier product selection from a wide range of goods made available through multiple distribution channels. Additionally, technologically advanced consumer durables is at high demand and this is a major factor driving the North America ceiling fans market.
Based on product, the standard segment led the North America ceiling fans market in 2019.Standard ceiling fans are widely used in homes and offices.
The height of these products ranges from 40 to 140 cm, and they are made available in different types, specifications, and designs.Standard ceiling fans usually have 50", 52", 54", or 56" blade span.
Flexibility is a key feature contributing to the popularity of standard ceiling fans.Standard ceiling fans are available in a huge range of colors, styles, designs, and sizes.
These fans are suitable for living rooms, dining rooms, game rooms, master bedrooms, etc., as the most advanced models operate noiselessly. Further, the low price and easy availability of these ceiling fans in individual stores and brand outlets further supports the market growth of the segment. The popularity of standard fans can be associated with their ease of use, convenience of cleaning, and cost-efficiency. Antique bronze, brushed nickel, auburn, and pewter are among the trendy fan finishes considered for home decor. They can be easily equipped with remote control, pull cord, and customizable blades.
COVID-19 continues to have a devastating effect on North American countries.The US has reported the highest number of COVID-19 cases among all North American countries.
The high number of COVID cases has been negatively affecting the region’s economy, and there has been a decline in business activities and growth of various industries in the region.The pandemic has been impacting the ceiling fans market in the region due to disrupted supply and distribution chains.
In addition, the outbreak is also disturbing overall manufacturing processes, and research and development activities.The factory and business shutdowns across the US, Canada, and Mexico hampered the sales of ceiling fan products such as fan blades and motors.
COVID-19 has also had a severe impact on logistics operations, transportation, and trade activity. Thus, the pandemic is further likely to continue affecting the businesses in this region in 2021. However, the impact of COVID-19 is short-term; it is likely to decrease in the coming years.
The North America 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 North America 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 typically involved in 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 North America ceiling fans market. Big Ass Fans, Crompton Greaves Consumer Electricals Limited, Havells India Ltd., Hunter Fan Company, Kichler Lighting LLC, Luminance Brands, Minka Lighting Inc., Panasonic Corporation, and Westinghouse Electric Corporation are among the key market players operating in this region.
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