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New York, March 24, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Household Fans Global Market Report 2022” – https://www.reportlinker.com/p06247513/?utm_source=GNW
44 billion in 2021 to $29.59 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $36.60 billion in 2026 at a CAGR of 5.5%.
The household fans manufacturing market consists of sales of household electric fans including ceiling fans, table fans, pedestal fans, exhaust fans, and wall fans.
The main types in the household fans manufacturing market are ceiling fans, table fans, pedestal fans, exhaust fans, wall fans.Ceiling fans in the household fans manufacturing market refer to the fan that is mounted on a ceiling.
The various types of current are ac residential fans, dc residential fans.The various distribution channels are store-based retailing, direct sales, non-store-based retailing.
These are used in the home, and commercial.
The Asia Pacific is the largest region in the household fans market in 2021.Western Europe is the second-largest region in the household fans market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Increased electrification especially in rural areas has contributed to the growth of the household fans market in the historic period.Electrification coupled with the rise in disposable income has boosted the demand for household fans.
For example, in India, the percentage of the rural population with access to electricity increased to 89.3%. The Percapita net disposable income increased to $2,018.53. The rise in disposable income increased the purchasing power of the people which in turn has increased the market for household fans.
Increased tariffs on raw materials such as steel and aluminum restrained the market for household fans in the historic period.Steel and aluminum are predominantly used in the manufacture of components such as blades for fans.
Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, the USA imposed 25% and 10% tariffs on the import of steel and aluminum respectively.
Household fan manufacturers are increasingly producing energy-efficient products to reduce their carbon footprint and enable energy savings for consumers.The rise of energy-efficient appliances can be attributed to stringent government regulations on electric home appliances and advances in technology.
Energy-efficient fans are designed to utilize minimum energy.Currently, over 80 countries have standards and labels for energy-efficient appliances.
For example, in the USA, ENERGY STAR-certified ceiling fans provide cutting-edge design, use the latest technology, and are 60% more efficient than conventional ceiling fans.
In October 2019, Hunter Fan Company, manufacturer and distributor of fans has acquired Entrepreneurial Pursuits, Inc. for an undisclosed amount. This acquisition will help Hunter Fan Company to expand its product portfolio and allow the company to provide a more holistic solution to customers. Entrepreneurial Pursuits, Inc was engaged in manufacturing and distributing fixed and rolling mount caged fan solutions for commercial and industrial uses.
The countries covered in the household fans manufacturing market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, USA, and Australia.
Read the full report: https://www.reportlinker.com/p06247513/?utm_source=GNW
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