Dublin, Nov. 12, 2024 (GLOBE NEWSWIRE) -- The "India Electric Fans Market, By Region, Competition, Forecast and Opportunities, 2020-2030F" report has been added to ResearchAndMarkets.com's offering.
The India Electric Fans Market was valued at USD 1.94 billion in 2024, and is expected to reach USD 3.72 billion by 2030, rising at a CAGR of 11.50%.
Key drivers of this market include the country's tropical climate, where fans are essential for maintaining comfort throughout the year. The demand for electric fans is further bolstered by factors such as infrastructure development, expanding commercial spaces, and a burgeoning middle-class population that seeks affordable cooling solutions. 
According to Energy Efficiency Services Limited, India, approximately 41 million units of ceiling fans are sold annually, making them one of the highest-selling cooling appliances in the country. Despite their widespread use, only three out of every 100 households utilize energy-efficient ceiling fans. As the nation contends with scorching summers, the adoption of energy-efficient and affordable fans becomes critical in reducing energy consumption, curbing greenhouse gas emissions, cutting down on energy expenditures, and promoting sustainability.
Technological advancements have also played a significant role in shaping the market landscape. Manufacturers are increasingly incorporating features such as energy efficiency, remote control operation, and aesthetic designs to cater to evolving consumer preferences. Additionally, the penetration of e-commerce platforms has made electric fans more accessible to a wider audience across urban and rural areas. Competitive dynamics within the industry are marked by the presence of both domestic manufacturers and multinational corporations. Companies compete on factors such as price, product innovation, distribution network, and after-sales service to gain market share.
Looking ahead, the India electric fans market is poised for continued growth driven by factors such as population expansion, urbanization trends, and ongoing infrastructure development projects. Moreover, initiatives promoting energy-efficient appliances and government policies supporting domestic manufacturing are expected to further stimulate market demand and innovation in the coming years.
The Quality Control Order (QCO), issued by the Department for Promotion of Industry and Internal Trade (DPIIT), establishes guidelines aimed at guaranteeing the quality and safety standards of electric fans in India. According to this directive, all electric fans manufactured, imported, or marketed in the country must display the ISI Mark. This requirement will become mandatory six months following its publication in the Official Gazette.
Key Market Drivers:
- Tropical Climate and Seasonal Demand
- Growing Population and Urbanization
- Technological Advancements and Product Innovation
Key Market Challenges:
- Intense Competition and Price Sensitivity
- Infrastructure and Distribution Challenges
- Technological Advancements and Adaptation
- Regulatory Compliance and Energy Efficiency Standards
Key Market Trends:
- Shift towards Energy Efficiency
- Rise of Smart and Connected Fans
- Expansion of Product Diversity and Customization
Regional Insights
In the India electric fans market, the northern region of the country emerges as a dominant segment due to several key factors. Firstly, North India experiences extreme weather conditions, with hot summers and often humid weather, necessitating a high demand for electric fans throughout the year. This climatic influence drives consistent and substantial sales of fans across residential, commercial, and industrial sectors.
Moreover, the northern region encompasses several populous states and metropolitan areas such as Delhi-NCR, Uttar Pradesh, Punjab, Haryana, and Rajasthan, which collectively constitute a significant consumer base for electric fans. Rapid urbanization and infrastructure development in cities like Delhi, Gurgaon, Noida, and Chandigarh further stimulate demand for cooling appliances, including ceiling fans, pedestal fans, and air circulators.
The presence of a robust retail network, including supermarkets, hypermarkets, and specialized electronics stores, ensures wide availability of electric fans to meet the diverse preferences and budget considerations of consumers in North India. Manufacturers and distributors strategically focus on this region to capitalize on its demographic and climatic advantages, making it a prominent and influential segment in the India electric fans market.
Key Players Profiles in this India Electric Fans Market Report:
- 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
Report Scope
In this report, the India Electric Fans Market has been segmented into the following categories:
By Product Type:
- Ceiling Fans
- Table Fans
- Pedestal Fans
- Wall Fans
- Exhaust Fans
By End User:
- Residential
- Commercial
- Industrial
By Distribution Channel:
- Multi-Branded Stores
- Supermarkets & Hypermarkets
- Online
- Exclusive Stores
- Others
By Region:
- North
- South
- East
- West
Key Attributes
| Report Attribute | Details |
| No. of Pages | 85 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $1.94 Billion |
| Forecasted Market Value (USD) by 2030 | $3.72 Billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | India |
For more information about this report visit https://www.researchandmarkets.com/r/1tk4fq
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