The latest market report published by Credence Research, Inc. “Portable Fan Market By Product (Table Fans, Tower Fans, Others), By Material (Metal Shell, Plastic Shell, Others), By Application (Residential, Commercial, Others) – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the portable fan market was valued at US$ 2,593.2 Mn in 2018 and expected to grow at a CAGR of 3.3% during the forecast period from 2019 to 2027.
“Trend for bladeless portable fans elevate the growth of the market”
Manufacturers are developing new products and improved products in the portable fans market, such as manufacturers are developing bladeless portable fans. Bladeless portable fans offer various advantages such as it is safer, easy to clean and can be controlled by the remote, thereby, does not require to be adjusted manually. Moreover, the development of solar-powered portable fans by the manufacturers in the global market increase the demand for portable fans market globally. Consumers nowadays are demanding products that can be charged from renewable sources. Thereby, supports market growth. The rising per capita income and rapid urbanization in the emerging nations of the Asia Pacific such as China, India, Indonesia and others further expected to drive the portable fans market demand.
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Top manufacturers for portable fans market are focusing on developing new products for better consumer experience and are merging with one another.
• In May 2019, Honeywell launched a new product. The Honeywell Turbo Force 2-in-1 fan offers maximum cooling by providing a balanced flow of air. The Honeywell Turbo 2-in-1 offers high-velocity air from the tower and the top fan is used for direct personal cooling. The high-velocity can be felt from up to 40 feet of distance.
• In May 2018, Orient Electric Limited increased its product portfolio by launching a new 5-blade Wind-Pro series. The 5-blade Wind-Pro series of portable fan offers delivery of air without any sound. Through the launch of the 5-blade portable fan, Orient Electric aims to strengthen its presence in south India.
Key Market Movements:
• Globally, the portable fans market is rising at a CAGR of 3.3% for the estimated period from 2019 to 2027
• The Asia Pacific dominated the global market in the year 2018. The dominance led by the presence of major portable fan manufacturers and tropical temperatures in the region. The wide acceptance of portable fans in homes, offices and various businesses will boost the demand for portable fans in the Asia Pacific region.
• The North America segment expected to grow considerably during the forecast period due to rising demand for portable fans in the residential segment. The research study suggests that the retail sales of portable fans in the U.S. account for about US$ 550 million in the year 2018.
• The product segment subdivided into table fans, tower fans, and others. Table fan holds the largest market share of around 40% in the product segment. Table fans are the most widely used portable fan in the market due to wide availability in the market.
• Trends such as bladeless portable fans, hands-free USB neck fans, and USB phone fans are increasing the demand for portable fans market globally.
• Hand-held fans segment expected to grow significantly during the forecast period, as hand-held fans also being used by patients who suffer from chronic breathlessness. As per the European Respiratory Journal, 82 percent of patients suffer from breathlessness perceived benefit of using hand-held fans.
List of Companies Covered:
• Westinghouse Electric Corporation
• Honeywell International Inc.
• O2Cool, LLC
• Lasko Products, LLC
• Vornado Air, LLC.
• Orient Electric
• Easyacc.com, Inc.
• Crompton Greaves Consumer Electricals Limited
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