Handheld Fans Market Research, 2031--ipanergy
Handheld Fans Market Research, 2031
The global handheld fans market size was valued at $407.7 million in 2021, and is projected to reach $734.8 million by 2031, growing at a CAGR of 6.1% from 2022 to 2031.
A fan is an electric motorized machine that propels air. Usually made of wood, plastic, or metal, a fan consists of a rotating arrangement of vanes or blades that impact the air. The terms "impeller," "rotor," or "runner" all refer to a blade and hub combination that rotates. Usually, it is housed in a case or some other kind of housing. By controlling the airflow or avoiding objects from contacting the fan blades, could increase safety. The majority of fans are powered by electric motors, although they can also be hydraulic motors, operated by hand cranks, or by internal combustion engines. A compact, corded or battery-powered fan that can be easily moved from one place to another while being held in one hand is referred to as a handheld fan.Moreover, the rise in trends for outdoor activity is the major driver which propels the handheld fans industry demand. Demand for handheld fans would rise due to the rise in global trends in outdoor activity during the forecast period. According to research from the Outdoor Industry Association, nearly 49% of Americans engaged in outdoor activity at least once in 2017.
There are many different styles and combinations of portable handheld electric fans on the market. The key advantage of handheld fans is that it does not need to be installed. They are therefore portable and convenient. Handheld fans are in high demand as the development of solar-powered fans by the manufacturers in the global market increases. These days, consumers want devices that can be powered by renewable resources. For this reason, it promotes market expansion. Customers show increase in interest in novel, cutting-edge products that use environmentally friendly, energy-efficient renewable energy sources. Such devices have no negative environmental effects due to their low energy usage. In addition, it is projected that the adoption of portable devices by consumers will fuel the market expansion for handheld fans. People now consider portable electronic devices to be necessities rather than just indulgences.The consumer goods sector was one of the most heavily impacted sectors during the COVID-19 pandemic. The supply chain disruption due to trade and lockdown restrictions had a negative impact on the market. The rise in online sales for handheld fans had a positive impact on the market on the other hand. Curfew implementation and the habit of maintaining social distance on a worldwide scale, however, have an impact on domestic and foreign output, which in turn restrains market expansion.Electronics that are portable are lightweight and compact, making them simple to carry. Handheld electronics are essentially portable electronics.In addition, less battery life and not being durable is expected to obstruct the market growth during the forecast period. The biggest problem with handheld fans is their short battery life.
However, for certain handheld fans that can be charged, the supplier does not offer replacement batteries in case the battery begins to drain. The only option when the battery is damaged, therefore, is to purchase a new fan, which is obviously more expensive. Short battery life and non-durability is hampering the market expansion.The handheld fans market is segmented into Application, Distribution Channels, and Type. On the basis of type, the market is classified into rechargeable and non-rechargeable. On the basis of application, the market is categorized into commercial and residential. On the basis of distribution channel, the market is categorized into supermarkets, retail stores, online stores, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Handheld Fans Market
By ApplicationBased on application, the commercial segment held the major share of the market in 2021 and is estimated to grow significantly during the forecast period.
On the basis of application, the handheld fans market is segmented into commercial and residential. The commercial segment is accounted for a major share in the handheld fans market in 2021 and is expected to grow at a significant CAGR during the forecast period. The commercial segment of the handheld fans market includes cosmetic industries, hospitals, commercials, and others. The key players in the market are continuously evolving the requirements of the commercial industry by modifying and innovating existing handheld fans.
Handheld Fans Market
By Distribution ChannelsBased on the distribution channel, the supermarket segment held the major share of the market in 2021 and is estimated to grow significantly during the forecast period.
On the basis of distribution channel, the handheld fans market is segmented into supermarkets, retail stores, online stores, and others. The supermarket segment accounted for a major share of the market in 2021 and is expected to grow at a significant CAGR during the forecast period. A supermarket is an extended version of a conventional store with a self-service facility. It offers a wide variety of consumer electronics such as handheld fans, which are categorized and organized on large shelves. These products are placed on shelves as per their category, with placards displaying the details and price of these products.
Handheld Fans Market
By TypeBased on type, the rechargeable segment held the major share of the market in 2021 and is estimated to grow significantly during the forecast period.
On the basis of type, the handheld fans market is segmented into rechargeable and non-rechargeable. The rechargeable segment accounted for a major handheld fans market share in the handheld fans market in 2021 and is expected to grow at a significant CAGR during the handheld fans market forecast period. An electrical device that can blow air without a direct source of power supply is a rechargeable fan. It often ships with a strong battery that needs to be charged by an electrical source. In areas with predominantly hot weather, rechargeable fans are common.
Handheld Fans Market
Based on region. the Asia-Pacific region held the major share of the market in 2021 and is estimated to grow siganficantly during the forecast period.
On the basis of region, the global handheld fans market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific is projected to witness the fastest handheld fans market growth during the forecast period. Customers in the Asia Pacific region are turning to innovative and creative ways to stay cool during relentless summers in the region. Consequently, the demand for handheld fans in the area is projected to rise.The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the handheld fans market include Arctic Gmbh, D-Fantix, Easyacc, Firefly Electric And Lighting Corporation, Francfranc Corporation, H2 Brands Group Corporate, Halfords Limited, Harkin Global Solutions Pvt., Ltd., Honeywell International Inc., John Lewis Partnership Plc., L10 Brand, Life On Products, Inc., Lifemax Limited, Newell Brands Inc., Nimya ( Kianda B.V.), O2cool (Maurice Sporting Goods Of Delaware, Inc.), Shenzhen Jisu Technology Co., Ltd. (Jisulife), Shenzhen Yashang Electronics Co., Ltd., Skygenius Ltd., Xiaomi Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the handheld fans market analysis from 2021 to 2031 to identify the prevailing handheld fans market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the handheld fans market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global handheld fans market trends, key players, market segments, application areas, and market growth strategies.
Handheld Fans Market Report Highlights
|Market Size By 2031||USD 734.8 million|
|Growth Rate||CAGR of 6.1%|
|Forecast period||2021 - 2031|
|Key Market Players||ARCTIC GmbH, D-FantiX, EasyAcc, Firefly Electric And Lighting Corporation, Francfranc Corporation, H2 Brands Group Corporate, Halfords Limited, Harkin Global Solutions Pvt., Ltd., Honeywell International Inc., John Lewis Partnership Plc., L10 Brand, Life On Products, Inc, Lifemax Limited, Newell Brands Inc., O2Cool (Maurice Sporting Goods of Delaware, Inc.), Shenzhen Yashang Electronics Co., Ltd, SkyGenius Ltd., Xiaomi Corporation, Nimya ( Kianda B.V.), Shenzhen Jisu Technology Co., Ltd. (Jisulife)|
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According to the insights of the CXOs, the global handheld fans market is expected to witness robust growth during the forecast period. This is attributed to global climatic changes, and increase in humidity that causes individuals to carry or use handheld fans. Moreover, the elevated trends for outdoor activity have fueled the growth of the global handheld fans market. Portable handheld electric fans are available in a wide range of fashion and configurations in the market. The main benefit offered by the handheld fan is that it does not require installation. Furthermore, the key players in the market invest in R&D activities, advertising, and product innovations to attract traction consumers around the globe.
CXOs furthermore added that the rise in demand for portable devices and rapid urbanization in emerging economies fuel the demand for handheld fans. People now consider portable electronic devices to be necessities rather than just indulgences because of their portability. Handheld electronics are essentially portable electronics. The reduced durability and limited battery life of handheld fans, are among the factors restricting market expansion.