Report Description

Singapore ceiling fans market was valued at USD 24.05 million in 2022 and is projected to grow at a CAGR of over 9.47% through 2028. It is anticipated to register robust growth during the forecast period. The rising construction activities, such as the development of build-to-order flats (BTO) and the changing consumer preference and shift toward energy efficient appliances are further contributing to the market growth of ceiling fans in Singapore.

Singapore Ceiling Fans Market Overview

The Singapore ceiling fan market is witnessing high demand for ceiling fans due to several factors, such as the increasingly hot and humid tropical climate, the growing trend of using energy efficient ceiling fans and government initiatives are increasing to reduce high energy consumption and carbon emissions. Ceiling fans circulate air better and use less energy than AC. Most ceiling fans are imported from China in Singapore. Continuous technological advancements are driving the growth of the market significantly.

Companies are launching smart and innovative products to meet the needs of consumers. LED lighting, enhanced connectivity, integrated voice control, UV sterilization, and improved user interface are some of the latest features to be seen in the ceiling fan industry. For example, Po Eco has launched the BLIZZARD 13 SERIES, with smart connectivity and voice control. In addition, the increasing construction of residential and commercial spaces in Singapore is also contributing to the growth of the market. For example, the growing demand for BTO apartments and condos, with smaller rooms that cannot accommodate stand fans, table fans, or coolers, requires more space, and electrical hazards, has driven demand for ceiling fans. 

Singapore Ceiling Fans Market Drivers

In order to promote green buildings and reduce the impact of global warming, the Singapore government is encouraging households to install ceiling fans in their homes. Singapore's National Environment Agency (NEA) has prohibited the supply of refrigerants with high Global Warming Potential (GHP) and is encouraging households to switch to using ceiling fans instead of air conditioners. The Building and Construction Authority (BCA) also advised people to reduce their air conditioner use and install a ceiling fan to increase air circulation in the area.

Furthermore, ceiling fans are a popular choice among middle-income households due to their cost-effectiveness and extended life span compared to air conditioners. These fans are efficient in circulating air and creating a cooling environment, as they increase the evaporation of sweat and the exchange of heat through convection, both of which are energy-saving factors. This has contributed to the rapid growth of the Singapore ceiling fan market. In the last few years, the market trend in Singapore has shifted toward DC motors because of the energy efficiency and the size compactness of the DC motor. Compared to the AC motor, the DC motor can save up to 70 % more energy. Therefore, most of the ceiling fan in Singapore is equipped with DC motor.

Some of the main benefits of a DC motor is that it produces less noise. The remote control of the DC motor can have up to 6 different speed options. Different blade designs of DC motor help in generating maximum efficiency. Most of the ceiling fan motors available in the market in Singapore come with a minimum of 10-year and a maximum of lifetime warranty.

Singapore Ceiling Fans Market Trends

Ceiling fans have gone beyond their functional purpose and are now considered an essential part of interior design. While traditional ceiling fans with wood blades are still in demand, the trend is shifting to fans with other materials like acrylic, plastic, or metal blades. Various shapes and sizes of the blades are introduced to enhance the airflow and efficiency while also enhancing the interior design of the home. Ceiling fan manufacturers are now offering a variety of innovative models to meet different décor preferences and personalization requirements of consumers.

Ceiling fans have become increasingly popular among consumers in Singapore due to the availability of an extensive range of online shopping platforms. These platforms provide consumers with the convenience of browsing and comparing various ceiling fans, reading customer reviews, and making purchasing decisions without having to visit physical stores, allowing them to purchase products from the convenience of their own homes. Furthermore, these platforms offer a wider selection of ceiling fans from a variety of brands and manufacturers and are often associated with exclusive discounts and other offers to draw in customers. As a result, the popularity of e-commerce for purchasing ceiling fans has increased.

Singapore Ceiling Fans Market Challenges

The Singapore ceiling fan market is facing strong competition from air conditioners as the temperature continues to rise, prompting many individuals to opt for air conditioners for efficient cooling. Furthermore, the National Environment Agency (MSS) reports that Singapore's average annual relative humidity reaches up to 100 percent during periods of heavy rainfall, further driving the preference for air conditioners. Unlike air conditioners, ceiling fans do not offer temperature control but instead create a cooling breeze. Air conditioners, however, offer a degree of control over the temperature, allowing users to select their desired level of comfort, particularly in environments where a specific temperature is essential.