India Electric Fans Market Competition Forecast & Opportunities, 2028

The India electric fans market is poised for growth driven by the introduction of new product launches featuring smart functionalities

The India electric fans market is poised for growth driven by the introduction of new product launches featuring smart functionalities. This trend has significantly propelled the expansion of the electric fans industry within the projected timeframe. This growth trajectory is further fortified by various initiatives undertaken by the Government of India (GoI) aimed at fostering smart city development nationwide and expanding housing initiatives. Government schemes like the Integrated Power Development Scheme (IPDS) and the Deendayal Upadhyaya Gram Jyoti Yojna (DDUGJY) are also expected to positively impact the country's electric fans market during the forecast period. The enhancement of electricity access, particularly in rural areas, and the improvement of power distribution and sub-transmission systems in urban regions, are key factors propelling the market's growth.

Demand for Aesthetic and Smart Fans on the Rise

Growing disposable incomes are generating substantial demand for fans boasting aesthetically pleasing designs and smart capabilities, such as voice control and remote connectivity via smart devices. Furthermore, the substantial expansion of the retail and hospitality sectors, coupled with the easy accessibility of premium fan varieties like lighting fans through online shopping platforms, are additional drivers fueling market growth.

Innovation through New Product Launches

The electric fan industry's growth is being propelled by innovative new product launches that incorporate advanced features. IoT-enabled fans, for instance, enable users to control speed, settings, timers, integrated lighting, and other features remotely. Key market players are focusing on introducing new products and expanding their portfolios to meet the rising demand. For instance, Havells introduced a new line of fans in 2021, including the Stealth Puro Air ceiling fan with 3-stage filtration and air purification benefits. Similarly, in 2022, Xiaomi India launched the Xiaomi Standing Fan 2, a smart fan with advanced features such as voice control and variable speed options. The market for electric fans is expected to expand as consumers embrace new technology.

Transition to Energy-Saving Inverter Technology

The electric fan sector is gradually shifting towards energy-saving inverter technology, producing fans that can operate on low voltage and solar energy. Given that ceiling fans constitute a significant portion of household energy consumption, energy-efficient ceiling fans are entering the market, aiding customers in reducing their energy bills. BLDC motors, found in the most energy-efficient ceiling fans, require less maintenance, produce less heat, and operate more quietly than conventional induction motor fans.

Urbanization and Real Estate Development Driving Demand

Rapid urbanization and a surge in new residential construction projects are major drivers of the electric fans market in India. This growth is particularly evident in the real estate industry, with top metropolitan areas witnessing a substantial increase in new project launches. Cities like Gurugram, Noida, MMR, Pune, Hyderabad, and Bengaluru have experienced a significant rise in new project launches, indicating strong growth potential for the electric fan market in the projected period.

Market Segmentation

The India electric fans market is segmented based on type, end-user, distribution channel, region, and company. On the basis of type, the market is further segmented into ceiling fans, table fans, pedestal fans, wall fans, and exhaust fans. Based on end users, the India electric fans market is further divided into residential, commercial & industrial. Based on distribution channel, the market is further segmented into multi-branded stores, supermarkets & hypermarkets, online, exclusive stores, and others (dealers & distributors, etc.).

Company Profiles

Crompton Greaves Consumer Electricals Ltd., Orient Electric Limited, Usha International Ltd., Havells India Limited, Bajaj Electricals Ltd., V-Guard Industries Ltd., Surya Roshni Limited, Finolex Cables Ltd., Metro Ortem Ltd, Khaitan (India) Limited, are among the top players operating in the India electric fans market.

Report Scope

In this report, India electric fans market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

India Electric Fans Market, by Type:

• Ceiling Fans
• Table Fans
• Pedestal Fans
• Wall Fans
• Exhaust Fans

India Electric Fans Market, by End User:

• Residential
• Commercial & Industrial

India Electric Fans Market, by Distribution Channel

• Multi-Branded Stores
• Supermarkets & Hypermarkets
• Online
• Exclusive Stores
• Others

India Electric Fans Market, by Region:

• North
• South
• East
• West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India electric fans market.

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.