Vietnam Household Fans Market is expected to reach US$ 311.17 Million by 2031

Rising Urbanization and Increasing Number of Households Fuel Vietnam Household Fans Market Growth

According to the latest market study on "Vietnam Household Fans Market Forecast to 2031 – Country Share, Trend, and Growth Opportunity Analysis – by Product Type and Distribution Channel," the market was valued at US$ 208.46 million in 2023 and is projected to reach US$ 311.17 million by 2031; it is anticipated to record a CAGR of 5.1% from 2023 to 2031. The report highlights key factors contributing to the Vietnam household fans market size and prominent players, along with their developments in the market. 

In the past few years, Vietnam has witnessed rapid urbanization owing to population increase and favorable economic conditions, leading to a rise in residences across urban areas. The newly constructed homes often feature spacious living areas as integral components of modern residential designs, with leisure, entertainment, and relaxation spaces. These homes consequently have a requirement for home appliances due to improved living standards and the rise middle-class population in the country with high disposable income. The tropical climate of Vietnam, characterized by high temperature and humidity, also creates a constant demand for cooling solutions such as ceiling fans, wall fans, or table fans.

Vietnam Household Fans Market Breakdown – by Country

The number of housing projects is rapidly increasing across Vietnam, which fuels the demand for home appliances such as household fans. According to the France-Vietnam Chamber of Commerce and Industry, the population of Vietnam is expected to grow, especially across urban areas, with the urbanization rate set to reach ~45% by 2030 and approximately 50% by 2050. As per the Ministry of Construction, Vietnam has 804 social housing projects with a total supply of 573,992 units—including 195,676 units from 376 completed projects; 114,984 units from 127 projects under construction; and 263,332 units from 301 projects with approval on investment—as of 2024. Many of these housing projects are located in Bac Giang, Thai Binh, Khanh Hoa, Ha Tinh, and Ho Chi Minh City.

In 2023, the Ministry of Construction implemented cohesive measures to build ~1 million social housing units for low-income people and laborers in industrial zones by 2030. The Vietnamese Housing Development Plan for 2021–2025 revealed that targets for 2024 set at Hanoi city, including 4.5 million square meters of self-built housing and ~2.69 million square meters of project-based housing. The project-based housing includes approximately 2.57 million square meters of commercial housing, 0.08 million square meters of social housing and 0.03 million square meters of resettlement housing. Moreover, the development and adoption of smart ceiling fans are expected to remain one of the major Vietnam household fans market trends in the coming years. 

Vietnam is witnessing a significant rise in urban population and increased disposable income due to rapid industrialization. The country is experiencing a rise in construction activities, with significant investment in infrastructure, real estate, and industrial projects. According to the Vietnam Industry and Skills Committee (AISC), the construction industry generates more than US$ 360 billion in revenue, accounting for 9% of Vietnam's GDP. This growth is also attributed to rapid urbanization, population expansion, and a rise in foreign direct investment. The Ministry of Construction (MoC) of Vietnam has set a target of boosting the urbanization ratio to 53.9% in 2023. As cities expand and modernize, there is substantial demand for household fans, including ceiling fans, pedestal fans, exhaust fans, wall fans, etc. Thus, the rising urbanization with an increasing number of households, along with a rise in consumer preference for energy-efficient household fans, fuels the Vietnam household fans market growth.

The Vietnam household fans market analysis is carried out by identifying and evaluating key players in the market across different countries. 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, and Tefal are among the key players profiled in the Vietnam household fans market report.

Vietnam Household Fans Market Report Segmentation:

Based on product type, the market is segmented into ceiling fan, pedestal fan, table fan, exhaust fan, wall fan, and others. The ceiling fan segment held the largest Vietnam household fans market share in 2023. 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, while clockwise rotation in winter helps redistribute warm air trapped near the ceiling. A pedestal fan is a versatile and portable electric fan mounted on an adjustable stand, making it ideal for use in spaces where ceiling fans or air conditioning units are impractical or unavailable. The fans often feature oscillation functions, allowing the fan head to sweep back and forth, distributing air over a wider area. Thus, all these factors drive the Vietnam household fans market for the ceiling fan segment.

Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest Vietnam household fans market share in 2023. Vietnam consists of prominent specialty stores such as Dien May Xanh, Nguyen Kim, and MediaMart. The stores offer a comprehensive range of fan options that cater to various consumer preferences and needs. These stores stock a variety of fan types, including desk fans, pedestal fans, tower fans, and advanced models such as bladeless fans and smart fans. They feature products from well-known international brands such as Dyson, Panasonic, Philips, and Electrolux, as well as popular local brands such as Kangaroo and Sunhouse.

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