Singapore Ceiling Fans Market to Grow at 9.47% CAGR through 2028
The Singapore ceiling fans
market is witnessing high growth due to the increasing preference for
energy-efficient appliances among consumers and the rising construction
activities in the country.
According to the TechSci
Research report, “Singapore Ceiling Fans Market – By Region,
Competition, Forecast & Opportunities, 2028,” the ceiling fans
market in Singapore is witnessing high growth. The market’s valuation reached
USD 24.05 million in 2022, owing to the rising awareness among consumers
regarding high carbon footprints in the region. Thus, consumers are shifting
toward energy-efficient appliances, such as ceiling fans to counter the issue.
Ceiling fans come in a variety
of sizes, shapes, colors, brands, price points, and designs to complement any
home interior style. There are even small ceiling fans that are perfect for
small, minimalist living spaces. In addition to providing a pleasant
breeze in the home, an LED ceiling fan is also a great interior decoration that
stands out as it adds personality and depth to the living space.
In Singapore, ceiling fans are
gaining significant traction from the expanding e-commerce, as they are more
reasonably priced when sold online. generally, online retailers do not have the
same overhead costs as brick-and-mortar stores. Also, online retailers
regularly offer rebates and advancements that can save more
cash. Moreover, it is easier to compare items when the consumer shop for
ceiling fans online.
The launch of smart ceiling fans
in the market has contributed to the high growth in the market as well. With
the integration of novel technologies in a majority of household appliances,
many consumers are preferring to buy technologically advanced smart ceiling
fans that can be controlled through smartphones. Furthermore, many people in
Singapore are heavily investing in home décor, thus, they are preferring to
purchase ceiling fans that are innovative and can cater to various décor
preferences and customization needs of consumers.
Browse over 16 market data
Figures spread through 78 Pages and an in-depth TOC on the “Singapore Ceiling Fans Market”
The Singapore ceiling fans
market is segmented by product type, end user, sales channel, and region. Based
on product type, the market is fragmented into AC ceiling fans and DC ceiling
fans. Based on end user, the market is divided into residential and commercial.
Based on distribution channel, the market is divided into multi-branded stores,
hypermarkets, e-commerce, and others. Based on region, the market is divided
into North-East, Central, North, East, and West.
In terms of product type, the DC
ceiling fan segment dominated the market with 80.25% of the market share by
2022. DC ceiling fans consume much less power than AC ceiling fans, resulting
in significant savings on electricity bills. A DC fan uses 70% less energy than
an AC one. It produces less noise and vibration as well, providing a quieter
environment for consumers. The motor of a DC ceiling fan is compact, light, and
with fewer mechanical parts designed for longer life and, reducing wear and
tear. The cost of a DC ceiling fan has dropped significantly over the past few
years due to various improvements.
Companies are launching new DC
ceiling fans with updated designs and types to stay competitive in the market.
For example, FANCO launched the "RITO 5 SERIES" in Singapore with DC
brushless motor, 24W LED light, smart WI-FI control, and a 4-year warranty.
Additionally, DC motor ceiling fans are in more demand in the country as they
are more energy efficient in comparison with AC ceiling fans and save more
energy for the consumer.
Key market players in the
Singapore ceiling fans market include:
- Fanco Fan Marketing Pte. Ltd.
- Capital Distributors Pte Ltd. (KDK)
- Alaska Fan House Pte Ltd
- Crestar Enterprise Pte Ltd
- Triple D Trading Pte. Ltd. (Bestar Fans)
- Aeroair Marketing Singapore Pte Ltd
- Winfinity Electric Pte. Ltd (Fanztec)
- Spin Pte Ltd
- Acorn Marketing & Services Pte Ltd
- Mexlink International Pte Ltd (Decco)
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“The demand for ceiling fans in
Singapore is expected to grow with a significant growth rate in the coming
years owing to the launch of smart ceiling fans, equipped with updated
features, such as smartphone control. Moreover, the government initiatives to
lower the usage of air conditioners and shift toward energy-efficient
appliances, such as ceiling fans will further contribute to the market growth
during the forecast years,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Singapore Ceiling Fans Market,
By Product Type (AC Ceiling Fans, DC Ceiling Fans), By End User (Residential,
Commercial), By Sales Channel (Multi Branded Stores, Hypermarkets, E-Commerce,
and Others (Exclusive Stores, Direct Sales)), By Region, Competition, Forecast
& Opportunities, 2018-2028,” has evaluated the future
growth potential of ceiling fans in Singapore and provides statistics and
information on market structure, size, share and future growth. The report is
intended to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in the Singapore ceiling fans market.
Contact
Mr. Ken Mathews
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New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com