The electric fan market will grow at a CAGR of 3.09% and its market share will increase to $2.7 billion between 2021 and 2026. According to Tech Navio’s research and analysis of market data, although the growth of the electric fan market has been negatively affected since 2020, and factors such as increased use of air conditioners have also hindered market growth, the study analyzed historical data and inferred that the electric fan market is gradually growing. One of the key factors driving market growth is the cost-effective electric fan supply chain. Electric fans are cheap and easily available household appliances that are widely used around the world.
Electric fan manufacturers use a variety of raw materials in the manufacturing process, including steel plates, enameled copper wires, ball bearings, steel rods, blades, winding wires, and PVC. The market consists of a large number of suppliers, and electric fan manufacturers can purchase raw materials in bulk at low prices.
The low cost of raw materials leads to low production costs, which will contribute to market growth. Increasing product innovation in the fan category is a key market trend that will have a positive impact in the coming years. Innovation in electric fans is mainly reflected in improving technology, performance efficiency, design, appearance, and convenience. Vendors emphasize the use of IoT in their products, which can be controlled remotely through cloud computing technology. Such ceiling fans are becoming increasingly popular.
Anti-bacteria and dust-removing ceiling fans have been introduced in the market. These fans are covered with anti-bacteria coatings to prevent the growth of bacteria. Due to the increasing demand for quality fans in the market, there is a great demand for bladeless fans, and innovative products with advanced technology will contribute to the growth of the market. The increase in the use of air conditioners will be a major challenge for the electric fan market. Air conditioners are one of the widely used household appliances in the world because of their more features and more effective cooling technology. The market share growth of the ceiling fan segment will be very significant during the forecast period. The ceiling fan segment accounts for the largest share of the global electric fan market. Ceiling fans are widely used because they have higher safety and better cooling effect than floor fans and wall-mounted fans. The increasing use of ceiling fans as decorative appliances (lamps) and the increase in the number of innovative products in this segment are the major factors driving the sales growth of this segment during the forecast period.
The main functional requirements of floor fans are adjustable tilt, energy saving, applicable area, silent, remote control function, slim body, smart operation, LED control panel, beautiful appearance design, easy cleaning, etc.
Hot-selling sites: North America, Europe, Asia.
Hot-selling month: Summer.
Supply chain industrial belt: Foshan, Shunde, Dongguan.
Price range: 30~150 USD.