Ceiling Fan Market Outlook:
The IMARC Group's latest research report, titled "Ceiling Fan Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global ceiling fan market size reached US$ 10.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028.
A ceiling fan is an electrically-operated non-portable mechanical device that is suspended from the room's ceiling to circulate air. It comprises an electric rotor that helps pivot the blades attached to the main body in a cyclic motion that creates a cooling effect, evaporates sweat, and allows better heat exchange through convection. As compared to air conditioners, ceiling fans are cost-effective, consume less energy, offer a longer lifespan, and exhibit high energy efficiency. Apart from this, ceiling fans distribute air effectively in the living space and lower the room temperature; thus, they are extensively installed in residential and commercial sectors. Currently, they are commonly available in numerous styles and standard, low-profile, dual motor, and remote-control variants.
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Ceiling Fan Market Growth and Development:
The ongoing establishment of new industrial and residential buildings and the increasing demand for effective cooling electronic appliances, including ceiling fans, to reduce the reliance on heating, ventilation, and air conditioning (HVAC) systems are primarily driving the market growth. Moreover, the continuous launch of decorative ceiling fans featuring layered light fixtures and interchangeable blades and the advent of voice-activated smart ceiling fans with assistive features for people with physical limitations are propelling the market growth. Additionally, the escalating development of brushless direct current (BLDC) motor fans with lower generating capacity are favoring the market growth. Besides this, the implementation of various government schemes facilitating electricity connections to isolated rural regions and the extensive product diversification by key players are supporting the market growth.
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List of Top Ceiling Fan Manufacturers Worldwide:
1. Emerson Electric Co.
Establishment: 1890
Headquarters: St. Louis, United States
2. Hunter Fan Company
Establishment: 1886
Headquarters: Tennesse, United States
3. Crompton Greaves Consumer Electricals Ltd.
Establishment: 2016
Headquarters: Mumbai, India
4. Shell Electric MFG Co. Ltd.
Establishment: 1952
Headquarters: Hong Kong, China
5. Broan-NuTone, LLC
Establishment: 1936
Headquarters: Hartford, Wisconsin
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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Article source: https://article-realm.com/article/Finance/43119-Leading-Ceiling-Fan-Manufacturers-Across-the-World-by-IMARC-Group.html
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