REPORT HIGHLIGHT
Residential Air Circulators Market size was valued at USD 2,580 Million in 2022, expanding at a CAGR of 6.7% from 2023 to 2030.
In residential areas, home air circulators are utilized to effectively circulate the air and cool a room or area in hot situations. An air circulator is more effective at moving air than a simple fan or an AC system. These circulators can be used to circulate air throughout a larger area or for personal use. To distribute air across a vast region, big home air circulators are frequently utilized. They are designed to drive heat air out of the residential space or mix hot and cold air.
Residential Air Circulators Market - Market Dynamics:
- Technological advancement drives the market growth
- The domestic air circulator sector may benefit from more R&D for the creation of more effective residential air circulators. Residential air circulators are undergoing rapid technological progress that includes the use of efficient motor technology, touch controls, remote controls, the Internet of Things, artificial intelligence, and more. In particular, the worldwide home air circulator sector is developing its usage of brushless direct current (BLDC) motors. In contrast to alternating current (AC) motors, BLDC is an energy-efficient technology that has been used in air circulators for improved performance and energy or cost savings. The brushless DC motor may reduce energy use by up to 80%, giving homes access to contemporary efficiency alternatives. Thereby, driving the market growth over the forecast period.
Residential Air Circulators Market - Key Insights:
- As per the analysis shared by our research analyst, the global Residential Air Circulators market is estimated to grow annually at a CAGR of around 6.7% over the forecast period (2023-2030)
- The Residential Air Circulators industry is projected to grow at a significant rate owing to the growing construction industry.
- Based on the distribution channel, the online segment is expected to grow at the highest CAGR over the forecast period.
- Based on region, the Asia Pacific is expected to grow at the highest CAGR over the forecast period.
Residential Air Circulators Market- Segmentation Analysis:
- The Global Residential Air Circulators Market is segmented based on installation, type, distribution channel and Region.
- Based on the distribution channel, the global Residential Air Circulators market is segmented into offline and online. The online segment is expected to grow at the highest CAGR over the forecast period. Online shopping offers a sophisticated and adaptable experience. Before making any purchases or procurement decisions, customers may read the unbiased survey that other purchasers have posted. A superior comparison analysis experience between two or more items is also provided via the online mode. Customers save time and money by shopping online since manufacturers do not have to charge merchants an additional fee for domestic air circulators. Thereby, driving the segment growth.
Residential Air Circulators Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to dominate the market during the forecast period. The market growth in the region is attributed to the growing construction of residential homes along with rising government initiatives. For instance, according to the Union Housing and Urban Affairs Ministry, more than 8,900,000 of the 1.14 crore housing sanctioned by the Indian Government have begun construction, with 5,250,000 finished and distributed to recipients. The Indian government has sanctioned a total investment of 7.52 lakh crore for the affordable housing plan. Thereby, driving the market growth in the region.
Residential Air Circulators Market- Competitive Landscape:
The key players operating in the market are: Havells India Ltd, GREE ELECTRIC APPLIANCES, DOSHISHA CORPORATION, Dreo, Ecoair Cooling Systems Solutions, Dimplex, DAIKIN INDUSTRIES Ltd., Honeywell International Inc. (A Helen of Troy Company), INDcool Electrical Private Limited, IRIS USA Inc., Lasko Products LLC, MUJI (Hong Kong) Co. Ltd., Senelux Ltd, Munters and Shimono.
Recent Developments:
In June 2023, the PolyFan 513S (pedestal air circulator) and CF714S (standing floor air circulator fan) were introduced by Dreo. These are small circulator floor fans with vertical and horizontal oscillation.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL RESIDENTIAL AIR CIRCULATORS MARKET KEY PLAYERS
- Havells India Ltd
- GREE ELECTRIC APPLIANCES
- DOSHISHA CORPORATION
- Dreo
- Ecoair Cooling Systems Solutions
- Dimplex
- DAIKIN INDUSTRIES Ltd.
- Honeywell International Inc. (A Helen of Troy Company)
- INDcool Electrical Private Limited
- IRIS USA Inc.
- Lasko Products LLC
- MUJI (Hong Kong) Co. Ltd.
- Senelux Ltd
- Munters
- Shimono
GLOBAL RESIDENTIAL AIR CIRCULATORS MARKET, BY INSTALLATION
- Wall-mounted
- Floor Standing/Tabletop
- Hybrid
GLOBAL RESIDENTIAL AIR CIRCULATORS MARKET, BY TYPE
- Oscillating
- Non-oscillating
GLOBAL RESIDENTIAL AIR CIRCULATORS MARKET, BY DISTRIBUTION CHANNEL
GLOBAL RESIDENTIAL AIR CIRCULATORS MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA