Europe, North America and Latin America Portable Fans Market, revenue size is projected to grow at a CAGR of 12.5%, 13.2% and 15.3% respectively during 2022-2028

By application, the residential sector generated the highest revenue share in Europe, North America, and Latin America Portable Fans Market – 6Wresearch

The residential sector dominated the market by application on the back of the growth in investment in the real estate sector as well as the rise in demand for homes. The expansion in the per capita income of nations in the developed regions also propelled the demand for portable fans in the residential sector.

According to 6Wresearch, Europe, North America and Latin America Portable Fans Market, revenue size is projected to grow at a CAGR of 12.5%, 13.2% and 15.3% respectively during 2022-2028. Disposable income in Europe rose by 14% between 2013 and 2021, and it is anticipated to increase further in the upcoming years as per capita income and overall GDP rise, which would encourage spending on household and other durable products and provide customers with more convenience and luxury. By 2025, more than 315 million people with a per capita GDP of $23,000 would live in large cities in Latin America as a result of its expanding urban sphere, which in turn would spur the demand for household electrical appliances and cooling equipment like portable fans, etc., thereby fostering the growth of the Latin American portable fan market.

Despite a 1.9% decline in personal consumption expenditure in 2020, it recovered with a 12.7% increase the following year, which encouraged consumers to increase their spending on durable goods and services. Thus, the market for portable fans in North America would experience growth as a result of this growing spending. Government stimulus, increasing wages, a low unemployment rate, and rising private consumption have led to an increase in consumer spending and consumption, which bodes well for the market for household items like electrical appliances, kitchenware, and consumer durables. Also, Canada’s official data indicates a growth in individual spending, as retail sales in April 2019 were $51.429 billion, rising to $60.721 billion in April 2022. All of these factors would drive the premium and decorative fans market in Canada. 

According to Shivankar, Research Manager, 6Wresearch, by product types, the tower fan segment of the portable fan market dominates the largest share in Europe, North America, and Latin America attributed to the growing consumer expenditure on household items backed by growth in disposable income in the countries of these regions.

Europe, North America, and Latin America Portable Fans Market (2022-2028) report provides an in-depth analysis with 202 figures and 73 tables, covered in 172 pages. The report comprehensively covers the market by product types, material types, distribution channels, applications and countries. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.