Latin America Ceiling Fans Market Size & Outlook
Latin America ceiling fans market, 2018-2030 (US$M)
Related Markets
Latin America ceiling fans market highlights
- The Latin America ceiling fans market generated a revenue of USD 1,357.0 million in 2023.
- The market is expected to grow at a CAGR of 4.7% from 2024 to 2030.
- In terms of segment, standard was the largest revenue generating product in 2023.
- Decorative is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,357.0 million |
| Market revenue in 2030 | USD 1,870.9 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Standard |
| Fastest growing segment | Decorative |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Standard, Decorative |
| Key market players worldwide | Griffon Corp, Crompton Greaves Consumer Electricals, Craftmade International, Ferguson PLC, Big Ass Fans, Ajanta Electrical Industries, Fanimation, MegaHOME, Masco Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.5% of the global ceiling fans market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 9,332.6 million by 2030.
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Ceiling Fans Market Scope
Ceiling Fans Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America ceiling fans market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to ceiling fans market will help companies and investors design strategic landscapes.
Standard was the largest segment with a revenue share of 65.77% in 2023. Horizon Databook has segmented the Latin America ceiling fans market based on standard, decorative covering the revenue growth of each sub-segment from 2018 to 2030.
In November 2023, the International Energy Agency published a blog stating that cooling now makes up roughly 10% of the world's electricity demand, and the percentage is still rising. The frequency of cooling-degree days is a measure of when daily temperatures cross a particular heat threshold.
It is expected to increase by 29% to 43% in Latin America and the Caribbean between 2041 and 2060 compared to the years 1990–2000. This will result in a marked increase in demand for cooling products like ceiling fans. The increasing ownership of household appliances, particularly air conditioners, in Latin America and the Caribbean signifies a rising demand for comfort and improved living standards.
Due to rising incomes and improved living conditions, the number of household appliance owners in the region increased by 20% between 2010 and 2022 and is expected to quadruple by 2050. However, the rapid growth poses challenges in terms of cost and environmental impact.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America ceiling fans market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America ceiling fans market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America ceiling fans market size, by country, 2018-2030 (US$M)
Latin America Ceiling Fans Market Outlook Share, 2023 & 2030 (US$M)
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