India’s $2 bn fan market heats up with smart tech and premium appeal
Soaring temperatures and rising incomes are powering a boom in India’s fan market—where smart, energy-efficient models are driving a premiumisation wave among the middle class.
The average summer temperature in India has seen a notable rise over the years, with heat waves becoming the new norm. According to the Indian Meteorological Department (IMD), the summer of 2024 was the country’s warmest in 123 years.
While the demand for air-conditioners is evidently on the rise, electric ceiling fans are the highest-selling cooling appliance in the country, with approximately 41 million units sold annually, as per Energy Efficiency Services Limited, India.
According to the International Market Analysis Research and Consulting Group (IMARC Group), the market size of the Indian electric fan reached $2 billion in 2024. It is expected to reach $5.64 billion by 2033 with a Compound Annual Growth Rate (CAGR) of 12.20%
In addition to global warming, other factors such as urbanisation, increased purchasing power, energy-efficient technologies, the popularisation of e-commerce, the expanding commercial sector and the growing real estate market in India have all contributed to the growth of the Indian electric fan market.
