Singapore Ceiling Fan Market Research Report Forecast to 2030
The Singapore ceiling fan market is projected to witness significant growth during the forecast period, exhibiting a CAGR of 6.35%. The market was estimated to be USD 212.47 million in 2022 and is expected to reach a value of USD 338.73 million by the end of the forecast period (2023-2030).
The Singapore ceiling fans market witnessed significant growth over the last few years and is projected to register a CAGR of 6.35% during the forecast period. The major drivers for the products are the rising global temperature coupled with the enlarged population which has boosted the demand for ceiling fans. However, progressive demand for substitute products in the markets may limit the growth. But the advantage of premium and technically updated products are expected to create lucrative growth opportunities for players operating in the Singapore ceiling fans market during the forecast period.
Market Segmentation
Based on type, the standard fan segment accounted for a market share of 38.12% in 2022 and is expected to grow a CAGR of 6.09% during the upcoming years. This is mainly owing to the wide availability of the standard fan at a reasonable price which in turn has increased its sales among consumers.
The AC fan segment is expected to dominate the Singapore ceiling fan market based on motor type in 2022, owing to the growing benefits provided by ac fans, which in turn has increased its installation in various sectors. As a part of this, as residential houses only have AC electricity, when ceiling fans originally developed, only AC motors were used in their construction. Because it is less expensive and simpler to create and supply electricity this way, it is the power provided by the grid. To use a fan with an AC motor, consumers usually plug it into a power source once it has been installed.
Based on industry vertical, the residential sector is expected to experience a significant growth in Singapore ceiling fan market owing to the growing population across the country, which in turn has increased the residential construction across the country as well as the sales of ceiling fan, which are usually installed in homes.
Furthermore, based on distribution channel, the offline segment held a significant share of 70.96% in 2022 owing to the increased consumer preferences for purchasing through offline mode.
Major Players
The key players operating in the ceiling fan market include Havells India Ltd. (India), Emerson Electric Co. (US), Honeywell International Inc. (US), Panasonic Corporation (Japan), LG Electronics Inc. (South Korea), Fanco Fan Marketing Pte Ltd (Singapore), Gracezone Marketing Pte Ltd. (Singapore), Aeroair Marketing Singapore Pte Ltd. (Singapore), Aspire Lightings (Singapore), and Capital Marketing (S) Pte Ltd. (Singapore).
Companies Mentioned
Havells India Ltd. (India)
Emerson Electric Co. (US)
Honeywell International Inc. (US)
Panasonic Corporation (Japan)
LG Electronics Inc. (South Korea)
Fanco Fan Marketing Pte Ltd (Singapore)
Gracezone Marketing Pte Ltd. (Singapore)
Aeroair Marketing Singapore Pte Ltd. (Singapore)
Aspire Lightings (Singapore)
and Capital Marketing (S) Pte Ltd. (Singapore).
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- 1 Executive Summary 10
- 1.1.1 Singapore Ceiling Fan Market, By Type 13
- 1.1.2 Singapore Ceiling Fan Market, By Motor Type 14
- 1.1.3 Singapore Ceiling Fan Market, By Industry Vertical 15
- 1.1.4 Singapore Ceiling Fan Market, By Distribution Channel 16
- 2 Market Introduction 17
- 2.1 Definition 17
- 2.2 Scope Of The Study 17
- 2.3 Research Objective 17
- 2.4 Market Structure 18
- 2.5 Key Buying Criteria 18
- 3 Research Methodology 19
- 3.1 Research Process 19
- 3.2 Primary Research 20
- 3.3 Secondary Research 21
- 3.4 Market Size Estimation 22
- 3.5 Forecast Model 23
- 3.6 List Of Assumptions & Limitations 24
- 4 Market Dynamics 25
- 4.1 Introduction 25
- 4.2 Drivers 25
- 4.2.1 Increasing Global Temperature To Propel The Demand For Ceiling Fans 25
- 4.2.2 Augmented Population Density To Enlarge The Demand For Ceiling Fans 26
- 4.2.3 Drivers Impact Analysis 27
- 4.3 Restraint 27
- 4.3.1 Progressive Demand For Substitute Products In The Markets Hinders The Market Growth. 27
- 4.3.2 Restraints Impact Analysis 28
- 4.4 Opportunity 28
- 4.4.1 Advantage Of Premium And Technically Updated Products To Boost The Market 28
- 4.5 Challenge 30
- 4.5.1 Changing Consumer Preferences Of The Consumes Towards High Tech 30
- 5 Market Factor Analysis 31
- 5.1 Value Chain Analysis 31
- 5.1.1 Raw Materials Procurement 32
- 5.1.1.1 Design Planning 32
- 5.1.1.2 Injection Molding- Plastic Molding 32
- 5.1.1.3 Assembling 32
- 5.1.1.4 Qualitycontrol 33
- 5.1.2 Packaging 33
- 5.2 Supply Chain Analysis 33
- 5.3 Porter's Five Forces Model 34
- 5.3.1 Threat Of New Entrants 34
- 5.3.2 Bargaining Power Of Suppliers 35
- 5.3.3 Bargaining Power Of Buyers 35
- 5.3.4 Threat Of Substitutes 35
- 5.3.5 Intensity Of Rivalry 35
- 5.4 Impact Of The Covid-19 Outbreak On The Singapore Ceiling Fans Market 36
- 5.4.1 Impact On Production 36
- 5.4.2 Impact On Supply Chain 36
- 5.4.3 Impact On Pricing 36
- 6 Singapore Ceiling Fans Market, By Type 37
- 6.1 Overview 37
- 6.1.1 Singapore Ceiling Fans Marketestimates & Forecast, By Type, 2020–2030 38
- 6.2 Standard Fans 38
- 6.3 Decorative Fans 38
- 6.4 High-speed Fans 39
- 6.5 Energy Saving Fans 39
- 6.6 Others 39
- 7 Singapore Ceiling Fans Market, By Motor Type 40
- 7.1 Overview 40
- 7.1.1 Singapore Ceiling Fans Marketestimates & Forecast, By Motor Type, 2020–2030 41
- 7.2 Ac Fans 41
- 7.3 Dc Fans 41
- 8 Singapore Ceiling Fans Market, By Industry Vertical 42
- 8.1 Overview 42
- 8.1.1 Singapore Ceiling Fans Market Estimates & Forecast, By Industry Vertical, 2020–2030 43
- 8.2 Residential 43
- 8.3 Commercial 44
- 8.4 Industrial 44
- 9 Singapore Ceiling Fans Market, By Distribution Channel 45
- 9.1 Overview 45
- 9.1.1 Singapore Ceiling Fans Market Estimates & Forecast, By Distribution Channel, 2020–2030 46
- 9.2 Offline 46
- 9.3 Online 46
- 10 Singapore Ceiling Fans Market, Country Analysis 47
- 10.1 Overview 47
- 11 Competitive Landscape 48
- 11.1 Introduction 48
- 11.2 Market Strategy Analysis 48
- 11.3 Market Share Of The Ceiling Fan Players 48
- 11.4 Competitive Benchmarking 49
- 11.5 Key Developments & Growth Strategies 50
- 11.5.1 Product Launch 50
- 11.5.2 Expansion 50
- 12 Company Profiles 51
- 12.1 Havells India Ltd. 51
- 12.1.1 Company Overview 51
- 12.1.2 Financial Overview 52
- 12.1.3 Products Offered 53
- 12.1.4 Key Developments 54
- 12.1.5 Swot Analysis 54
- 12.1.6 Key Strategies 55
- 12.2 Emerson Electric Co. 56
- 12.2.1 Company Overview 56
- 12.2.2 Financial Overview 57
- 12.2.3 Products Offered 58
- 12.2.4 Key Developments 58
- 12.2.5 Swot Analysis 58
- 12.2.6 Key Strategies 59
- 12.3 Honeywell International Inc. 60
- 12.3.1 Company Overview 60
- 12.3.2 Financial Overview 61
- 12.3.3 Products Offered 62
- 12.3.4 Key Developments 62
- 12.3.5 Swot Analysis 63
- 12.3.6 Key Strategies 63
- 12.4 Panasonic Corporation 64
- 12.4.1 Company Overview 64
- 12.4.2 Financial Overview 65
- 12.4.3 Products Offered 66
- 12.4.4 Key Developments 66
- 12.4.5 Swot Analysis 67
- 12.4.6 Key Strategies 67
- 12.5 Lg Electronics Inc. 68
- 12.5.1 Company Overview 68
- 12.5.2 Financial Overview 69
- 12.5.3 Products Offered 69
- 12.5.4 Key Developments 70
- 12.5.5 Swot Analysis 70
- 12.5.6 Key Strategies 70
- 12.6 Fanco Fan Marketing Pte Ltd 71
- 12.6.1 Company Overview 71
- 12.6.2 Financial Overview 71
- 12.6.3 Products Offered 71
- 12.6.4 Key Developments 71
- 12.6.5 Key Strategies 71
- 12.7 Gracezone Marketing Pte Ltd. 72
- 12.7.1 Company Overview 72
- 12.7.2 Financial Overview 72
- 12.7.3 Products Offered 72
- 12.7.4 Key Developments 72
- 12.7.5 Key Strategies 72
- 12.8 Aeroair Marketing Singapore Pte Ltd. 73
- 12.8.1 Company Overview 73
- 12.8.2 Financial Overview 73
- 12.8.3 Products Offered 73
- 12.8.4 Key Developments 73
- 12.8.5 Key Strategies 73
- 12.9 Aspire Lightings 74
- 12.9.1 Company Overview 74
- 12.9.2 Financial Overview 74
- 12.9.3 Products Offered 74
- 12.9.4 Key Developments 74
- 12.9.5 Key Strategies 74
- 12.10 Capital Marketing (S) Pte Ltd. 75
- 12.10.1 Company Overview 75
- 12.10.2 Financial Overview 75
- 12.10.3 Products Offered 75
- 12.10.4 Key Developments 75
- 12.10.5 Key Strategies 75
- List Of Tables
- Table 1 Primary Interviews 20
- Table 2 List Of Assumptions & Limitations 24
- Table 3 Singapore Ceiling Fans Marketestimates & Forecast, By Type, 2020–2030 (Usd Million) 38
- Table 4 Singapore Ceiling Fans Marketestimates & Forecast, By Motor Type, 2020–2030 (Usd Million) 41
- Table 5 Singapore Ceiling Fans Market Estimates & Forecast, By Industry Vertical, 2020–2030 (Usd Million) 43
- Table 6 Singapore Ceiling Fans Market Estimates & Forecast, By Distribution Channel, 2020–2030 (Usd Million) 46
- Table 7 Product Launch 50
- Table 8 Expansion 50
- Table 9 Havells India Ltd.: Products/Services Offered 53
- Table 10 Havells India Ltd.: Key Developments 54
- Table 11 Emerson Electric Co.: Products/Services Offered 58
- Table 12 Honeywell International Inc.: Products Offered 62
- Table 13 Panasonic Corporation: Products/Services Offered 66
- Table 14 Panasonic Corporation: Key Developments 66
- Table 15 Lg Electronics Inc.: Products/ Services Offered 69
- Table 16 Fanco Fan Marketing Pte Ltd: Products/Services Offered 71
- Table 17 Gracezone Marketing Pte Ltd.: Products/Services Offered 72
- Table 18 Aeroair Marketing Singapore Pte Ltd.: Products/Services Offered 73
- Table 19 Aspire Lightings: Products/Services Offered 74
- Table 20 Capital Marketing (S) Pte Ltd.: Products/Services Offered 75
- List Of Figures
- Figure 1 Market Synopsis 12
- Figure 2 Singapore Ceiling Fan Market Analysis, By Type, 2022 13
- Figure 3 Singapore Ceiling Fan Market Analysis, By Motor Type, 2022 14
- Figure 4 Singapore Ceiling Fan Market Analysis, By Industry Vertical, 2022 15
- Figure 5 Singapore Ceiling Fan Market Analysis, By Distribution Channel, 2022 16
- Figure 6 Singapore Ceiling Fan Market: Structure 18
- Figure 7 Key Buying Criteria For Singapore Ceiling Fan 18
- Figure 8 Research Process 19
- Figure 9 Top-down & Bottom-up Approaches 22
- Figure 10 Market Dynamics Overview 25
- Figure 11 Drivers Impact Analysis: Singapore Ceiling Fans Market 27
- Figure 12 Restraints Impact Analysis: Singapore Ceiling Fans Market 28
- Figure 13 Singapore Ceiling Fans Market: Value Chain Of Ceiling Fans 31
- Figure 14 Singapore Ceiling Fans Market: Supply Chain Analysis 33
- Figure 15 Porter's Five Forces Analysis Of The Singapore Ceiling Fans Market 34
- Figure 16 Singapore Ceiling Fans Market, By Type, 2022 (% Share) 37
- Figure 17 Singapore Ceiling Fans Market, By Type, 2020–2030 (Usd Million) 37
- Figure 18 Singapore Ceiling Fans Market, By Motor Type, 2022 (% Share) 40
- Figure 19 Singapore Ceiling Fans Market, By Motor Type, 2020–2030 (Usd Million) 40
- Figure 20 Singapore Ceiling Fans Market, By Industry Vertical, 2022 (% Share) 42
- Figure 21 Singapore Ceiling Fans Market, By Industry Vertical, 2020–2030 (Usd Million) 42
- Figure 22 Singapore Ceiling Fans Market, By Distribution Channel, 2022 (% Share) 45
- Figure 23 Singapore Ceiling Fans Market, By Distribution Channel, 2020–2030 (Usd Million) 45
- Figure 24 Market Share Of The Ceiling Fan Players 48
- Figure 25 Benchmarking Of Major Competitors 49
- Figure 26 Havells India Ltd.: Financial Overview 52
- Figure 27 Havells India Ltd.: Swot Analysis 54
- Figure 28 Emerson Electric Co.: Financial Overview 57
- Figure 29 Emerson Electric Co.: Swot Analysis 58
- Figure 30 Honeywell International Inc.: Financial Overview 61
- Figure 31 Honeywell International Inc.: Swot Analysis 63
- Figure 32 Panasonic Corporation: Financial Overview 65
- Figure 33 Panasonic Corporation: Swot Analysis 67
- Figure 34 Lg Electronics Inc.: Financial Overview 69
- Figure 35 Lg Electronics Inc.: Swot Analysis 70
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