Asia-Pacific Ceiling Fans Market is expected to reach US$ 7,099.59 Mn by 2027

Residential Segment to Dominate APAC Ceiling Fans Market during 2019–2027

According to The Insight Partners market research study on “APAC Ceiling Fans Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 7,099.59 million by 2027 from US$ 4,352.58 million in 2019. The market is estimated to grow at a CAGR of 6.4% from 2020 to 2027. The report provides trends prevailing in the APAC ceiling fans market along with the drivers and restraints pertaining to the market growth. Rising urbanization in developing countries is among the major factor driving the growth of the APAC ceiling fans market. However, issues associated with substitute products availability hinders the growth of APAC ceiling fans market.   

The APAC 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 APAC ceiling fans market in 2019. Based on fan size, the APAC ceiling fans market is segmented into small, medium, and large. The medium segment held the largest share of APAC ceiling fans market in 2019. Based on end-user, the APAC ceiling fans market is segmented into residential, commercial, and industrial. Residential segment held the largest share of APAC ceiling fans market in 2019.

Because of a massive rising number of cases the APAC region is greatly affected by COVID-19. The region also homes the largest population across the world, thereby imposing greater risk of many individuals; it is also a world leader of many brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other major economies outside China, such as India, Australia and Japan, and the region is thus experiencing a downward inflation. The sudden closedown of all economic activities which includes manufacturing plants of both essential products and luxurious items has impacted the overall economy of the countries in the region. China being the manufacturing hub of the world has many major players and distributers located in the country. The temporary shutdown of supply chain to manufacturers of the ceiling fans is expected to negatively impact the market. Additionally, the reduction in demand from commercial sector has been observed across countries like India. This decrease in demand, combined with slow recovery, would have a negative effect on the ceiling fans market across the region owing to the pandemic. 

Big Ass Fans, Crompton Greaves Consumer Electricals Limited, Fantasia Ceiling Fans, Havells India Ltd., Hunter Fan Company, Minka Lighting Inc., Panasonic Corporation, Westinghouse Electric Corporation are among the leading companies in the APAC ceiling fans market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Havells India Limited, a technology led Fast-Moving Electrical Goods (FMEG) and Consumer Durable company launched, country’s first intelligent Fan – Carnesia-I with smart mode. The new fan is one of the most technologically advanced - IoT fan that adds convenience and comfort to consumer’s fast paced life. The intelligent fan range comes at an attractive consumer price of approx. Rs 4500.      

The report segments the APAC Ceiling Fans Market follows:

 APAC Ceiling Fans Market – By Product

• Standard
• Decorative

APAC Ceiling Fans Market – By Fan Size

• Small
• Medium
• Large

APAC Ceiling Fans Market – By End-User

• Residential
• Commercial
• Industrial

APAC Ceiling Fans Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC