The North America Ceiling Fans Market would witness market growth of 4.7% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 19,947.9 thousand units, showcasing a growth of 12.1% (2020-2023).
The ceiling fans market, segmented by indoor type, encompasses a variety of fans tailored to different indoor environments and needs. Indoor ceiling fans are essential for enhancing air circulation and maintaining comfortable temperatures in residential homes, commercial offices, retail spaces, and hospitality venues. These fans come in diverse designs, ranging from sleek, modern styles to traditional and rustic aesthetics, ensuring they complement any interior decor. Therefore, the US market would utilize 20,600.1 thousand units of indoor celling fans by 2031.
The US market dominated the North America Ceiling Fans Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,359.2 million by 2031, growing at a CAGR of 3.9 % during the forecast period. The Canada market is registering a CAGR of 7% during (2024 - 2031). Additionally, The Mexico market would showcase a CAGR of 6.1% during (2024 - 2031).
These are widely recognized for their exceptionally low electricity consumption compared to air conditioning devices. Due to their negligible energy consumption, consumers can benefit from reduced utility bills, making them an appealing choice for individuals aiming to minimize their energy expenditures and ecological impact. As energy efficiency continues to gain importance in sustainability efforts, the adoption of ceiling fans is further encouraged as a greener cooling alternative.
Another factor driving the adoption of ceiling fans is their versatility in applications and installations. It may be implemented in commercial structures, outdoor living areas, residential dwellings, and industrial facilities. Additionally, ceiling fans come in various sizes, styles, and configurations, allowing consumers to select models that best suit their needs and preferences.
Canada’s climate varies from hot and muggy summers to cold and dry winters in different parts of the country. According to Statistics Canada, building construction investment rose 1.7% to $19.8 billion in November 2023. The residential sector grew 2.2% to $13.7 billion, while non-residential sector investment increased 0.4% to $6.0 billion. Hence, the increasing e-commerce sector and rising regional residential construction propel the market’s growth.
Free Valuable Insights: The Ceiling Fans Market is Predict to reach USD 20.4 Billion by 2031, at a CAGR of 4.9%
Based on Product, the market is segmented into Standard, and Decorative. Based on Type, the market is segmented into Indoor, and Outdoor. Based on Size, the market is segmented into Medium, Small, and Large. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Application, the market is segmented into Residential, and Commercial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Product (Volume, Thousand Units, USD Billion, 2020-2031)
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Size (Volume, Thousand Units, USD Billion, 2020-2031)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)
By Application (Volume, Thousand Units, USD Billion, 2020-2031)
By Country (Volume, Thousand Units, USD Billion, 2020-2031)
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