Smart Electric fans to drive the future demands in Indian markets: Bonafide Research

Consumers are increasingly spending on the premium quality home décor, thus accelerating the overall product sales. Besides this, manufacturers are introducing technologically advanced smart fans that offer voice control features and connectivity access to phones and tablets. They are also incorporating additional features such as layered lighting fixtures and interchangeable blades, which is expanding their consumer base. Moreover, significant expansion in the retail and hospitality sectors, along with the easy availability of product variants through online retail channels, is creating a positive outlook for the market.

Fans have been changed in terms of designs and aesthetics. The functional change for fans has been changed. With a larger blade angle, fans displace more amount of air with a more luxurious breezy experience, which is completely whispered quietly. Premium range fans include Smart fans, Customized fans, decorative fans, etc.

The market is majorly driven by considerable growth in the housing sector. In line with this, continual developments in the commercial real estate, hospitality, and retail sectors are significantly contributing to the market across the country. Furthermore, the inflating disposable income levels of the masses are also positively influencing the market. Besides this, several manufacturers are increasingly focusing on introducing premium ceiling fans, thereby aiding the market growth. Additionally, key market players are investing in launching innovative ceiling fans with advanced features, such as smart fans with voice control and connectivity access to smartphones, which is creating a positive market outlook.

Almost all the companies operate in the regular and premium fan segment but with the premium segment, companies are aiming to bolster their leadership position in the domestic fan market and raise their market share. Manufacturers have already started the trend of launching fans in the premium segment to tap the fast-growing opportunities. Premium fans now come with broader & aerodynamically designed blades for effective air circulation and heavy-duty motor for greater performance. Moreover, these fans are also available in various attractive colors. As per a report titled “India Electric Fan Market Outlook, 2027-28” by Bonafide research the smart fans are expected to be in demand over the forecast period with increased home automation. 

The launch of fans under the premium segment is an extension of the commitment to discerning and quality-conscious customers. Orient has launched the first Inverter Technology fan in India, likewise, Havells launched smart IoT (Internet of things) enabled ceiling fans and the country’s first- handcrafted Square Pedestal Fan accelerated by a few first- in- the- industry features. Fans don’t actually decrease the temperature of the room, but the motion of the air will make you feel cooler and comfortable. Fans can reduce your electricity bill up to 30%-40%. By region, the Western region is highly dense and remains hot for almost nine months of a year. Moreover, the development of the housing sector and other infrastructure facilities is growing at a rapid pace in this region. All these factors have generated robust growth and the region is expected to lead the market in the future. 

In India, fans are mostly in four types Ceiling fans, Table Fans, Pedestal Fans, Wall fans, and others which include exhaust fans, Multiutility fans, bladeless fans, etc. Today, various types of table fans are available in the market like popular fans, all-metal construction & high air thrust fans, high-speed fans, etc. Pedestal fans are one among them which are designed to cater to high-class regular and premium segments. For an industry long considered as technology-stressed, where companies find it difficult to differentiate themselves in the absence of up-gradation and innovation, the last decade was an important one. BEE’s (Bureau of Energy Efficiency) voluntary standard and labeling program single-handedly shook up the industry and forced players to infuse technology, rework the marketing campaigns and add new categories. As a result, there was a flurry of technology addition all around and wall-mounted fans were among them. Additionally, increasing awareness regarding convenient ceiling fans is projected to play a key role in promoting the importance of technologically advanced and smart fans, which offer voice control features and connectivity access to phones and tablets. In India, fans are mostly in four types Ceiling fans, Table Fans, Pedestal Fans, Wall fans, and others which include exhaust fans, Multiutility fans, bladeless fans, etc.

Even though fans are the most common appliance, after lights and offices it is rarely ever a business opportunity. India electric fan manufacturing companies mostly from the organized market are producing fans as per the Bureau of Energy Efficiency's five-star ratings. The unorganized sector specializes in manufacturing low-technology products while a few small-scale units are involved only in the assembly of imported components which caters to the replacement market for few products. The existence of a strong unorganized sector is the greatest threat to the fan industry in India as such units hardly observe the rules governing industrial units or pay the right taxes. However, minimum energy efficiency standards by BEE have imposed discipline on some of the unorganized manufacturers making substandard quality fans.