Vietnam household fans market is expected to grow from US$ 208.46 million in 2023 to US$ 311.17 million by 2031. It is expected to grow at a CAGR of 5.1% from 2023 to 2031.
The demand for household fans varies in the urban and rural areas of Vietnam and is subject to seasonal variation, especially experiencing a rise during the summer season. The hot and sunny climate makes household fans a favorable choice of cooling solutions in the country. Manufacturers and distributors sell household fans through different distribution channels, including supermarkets, hypermarkets, online retail, and specialty stores. The products are also supplied to retailers by direct business-to-business sales or through their network of independent dealers operating across different regions. Further, retailers are the direct contact point with consumers, as retailers purchase household fans from distributors and sell products to customers through stores or online platforms.
The key manufacturers of household fans in Vietnam are investing substantially in strategic development initiatives such as product innovation, R&D, mergers & acquisitions, and business expansion to attract a large customer base as well as enhance their market position. Major market players design fans that offer functionality while enhancing the aesthetics of rooms. The advanced product models often feature style, innovation, and multifunctional capabilities. With such models, the companies expand their product portfolio that include ceiling fans, table fans, wall-mounted fans, and pedestal fans. The product diversification helps the companies to cater to different consumer needs and preferences. The establishment of a strong production and retail presence in Vietnam through partnerships enables increased product availability across the country. Further, the rise of e-commerce in Vietnam is opening new revenue streams for market players, reaching a broad audience. The partnership with online retailers and sales channels can potentially increase their sales and broaden the customer base.
The establishment of research and development centers and innovation hubs enables continuous improvement and development of products associated with household fans. Key market players focus on investing in new technologies as well as increasing the retail footprint in rural and semi-urban areas to tap into wide customer bases. In 2021, Panasonic Corporation completed the construction of a production facility in Binh Duong Province in Vietnam and commenced the production and shipment of ceiling fans and ventilating fans. In 2023, Ziehl-Abegg announced a plan to open a home appliances production facility in Ho Chi Minh City, Vietnam. Thus, strategic initiatives by major market players are expected to create new opportunities for the Vietnam household fans market growth during the forecast period.
Based on product type, the Vietnam household fans market is segmented into ceiling fan, pedestal fan, table fan, exhaust fan, wall fan, and others. In 2023, the ceiling fan segment held a significant market share during the forecast period. Ceiling fans are often equipped with multiple speed settings and can rotate in different directions; counterclockwise rotation is used in summer to create a cooling breeze, whereas clockwise rotation in winter helps redistribute warm air trapped near the ceiling. Other product types include tower fan, misting fan, window fans and bladeless fans. A tower fan is a tall, slender cooling device designed for efficient air circulation in homes and offices. Unlike traditional blade fans, tower fans use a vertical cylindrical shape to distribute air more evenly across a room. They typically feature multiple speed settings, oscillation capabilities, and sometimes additional functions like air purification or timers.
Brilltech Vayu, Toshiba, Asiavina Fans, Tefal VN, Panasonic, TAN TIEN SENKO Co Ltd, Hatari, Vinawind, Benny, and SHARP are among the leading players in the Vietnam household fans market. These companies are adopting mergers & acquisitions and product launches to expand their geographic presence and consumer bases.
The overall Vietnam household fans market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants, including valuation experts, research analysts, and key opinion leaders - specializing in the Vietnam household fans market.
The demand for household fans varies in the urban and rural areas of Vietnam and is subject to seasonal variation, especially experiencing a rise during the summer season. The hot and sunny climate makes household fans a favorable choice of cooling solutions in the country. Manufacturers and distributors sell household fans through different distribution channels, including supermarkets, hypermarkets, online retail, and specialty stores. The products are also supplied to retailers by direct business-to-business sales or through their network of independent dealers operating across different regions. Further, retailers are the direct contact point with consumers, as retailers purchase household fans from distributors and sell products to customers through stores or online platforms.
The key manufacturers of household fans in Vietnam are investing substantially in strategic development initiatives such as product innovation, R&D, mergers & acquisitions, and business expansion to attract a large customer base as well as enhance their market position. Major market players design fans that offer functionality while enhancing the aesthetics of rooms. The advanced product models often feature style, innovation, and multifunctional capabilities. With such models, the companies expand their product portfolio that include ceiling fans, table fans, wall-mounted fans, and pedestal fans. The product diversification helps the companies to cater to different consumer needs and preferences. The establishment of a strong production and retail presence in Vietnam through partnerships enables increased product availability across the country. Further, the rise of e-commerce in Vietnam is opening new revenue streams for market players, reaching a broad audience. The partnership with online retailers and sales channels can potentially increase their sales and broaden the customer base.
The establishment of research and development centers and innovation hubs enables continuous improvement and development of products associated with household fans. Key market players focus on investing in new technologies as well as increasing the retail footprint in rural and semi-urban areas to tap into wide customer bases. In 2021, Panasonic Corporation completed the construction of a production facility in Binh Duong Province in Vietnam and commenced the production and shipment of ceiling fans and ventilating fans. In 2023, Ziehl-Abegg announced a plan to open a home appliances production facility in Ho Chi Minh City, Vietnam. Thus, strategic initiatives by major market players are expected to create new opportunities for the Vietnam household fans market growth during the forecast period.
Based on product type, the Vietnam household fans market is segmented into ceiling fan, pedestal fan, table fan, exhaust fan, wall fan, and others. In 2023, the ceiling fan segment held a significant market share during the forecast period. Ceiling fans are often equipped with multiple speed settings and can rotate in different directions; counterclockwise rotation is used in summer to create a cooling breeze, whereas clockwise rotation in winter helps redistribute warm air trapped near the ceiling. Other product types include tower fan, misting fan, window fans and bladeless fans. A tower fan is a tall, slender cooling device designed for efficient air circulation in homes and offices. Unlike traditional blade fans, tower fans use a vertical cylindrical shape to distribute air more evenly across a room. They typically feature multiple speed settings, oscillation capabilities, and sometimes additional functions like air purification or timers.
Brilltech Vayu, Toshiba, Asiavina Fans, Tefal VN, Panasonic, TAN TIEN SENKO Co Ltd, Hatari, Vinawind, Benny, and SHARP are among the leading players in the Vietnam household fans market. These companies are adopting mergers & acquisitions and product launches to expand their geographic presence and consumer bases.
The overall Vietnam household fans market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants, including valuation experts, research analysts, and key opinion leaders - specializing in the Vietnam household fans market.
Reasons to Buy:
- Progressive industry trends in the Vietnam household fans market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the household fans market from 2021 to 2031
- Estimation of the demand for household fans across various industries
- Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
- Recent developments to understand the competitive market scenario and the demand for household fans across the Vietnam
- Market trends and outlook coupled with factors driving and restraining the growth of the household fans market
- Decision-making process by understanding strategies that underpin commercial interest concerning the Vietnam household fans market growth
- The Vietnam household fans market size at various nodes of market
- Detailed overview and segmentation of the household fans market as well as its dynamics in the industry
- The household fans market size in different regions with promising growth opportunities
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Vietnam Household Fans Market Landscape
5. Vietnam Household Fans Market - Key Market Dynamics
6. Vietnam Household Fans Market Analysis
7. Vietnam Household Fans Market Volume and Revenue Analysis - by Product Type
8. Vietnam Household Fans Market Volume and Revenue Analysis - by Distribution Channel
9. Competitive Landscape
10. Industry Landscape
11. Company Profiles
12. Appendix
Companies Mentioned
- Vietnam Household Fans Market
- Brilltech Vayu
- Toshiba Corporation
- Panasonic Holdings Corp
- Thong Nhat Electrical and Mechanical Joint Stock Company
- Asiavina Fans
- Hatari
- Tan Tien Senko Company Limited
- Benny
- SHARP Corporation
- Tefal
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 88 |
| Published | August 2024 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value in 2023 | 208.46 Million |
| Forecasted Market Value by 2031 | 311.17 Million |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 11 |
