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Premium category will emerge as a luring opportunity for players in the Indian electric fan industry: Bonafide Research
Featured Companies
1. Anchor Electricals Private Limited
2. Bajaj Electricals Limited
3. CG Power and Industrial Solutions Limited
4. Havells India Limited
5. Khaitan Electricals Limited
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With India being a tropical country, fans are a must have for every home. Even though air conditioners and coolers have become a preferred source of maintaining a comfortable temperature, the age old reliable and affordable friend, the fan, remains well in fashion. The electric fan industry is well-established in the country and has grown significantly over the years. Large number of players in both, organized and unorganized market, has helped the fan industry to come a long way. However, much of the growth has been through organized players now as consumers move towards branded and more technologically efficient fans. A concerted move has been seen towards widening distribution reach and improving rural penetration by the organized players. Also, the threat from Chinese fans has lowered in the past few years due to squeezed competitiveness gap. During the forecast years, the market will continue to expand with niche categories like energy savings, premium fans and kid's fans. This period will witness a swing of launches in the decorative and premium fans, especially in the ceiling fan segment. According to “India Electric Fan Market Outlook, 2022”, the revenues for organized electric fan market are growing with a CAGR of more than 10% from the last five years. Higher disposable incomes, increased availability of continuous power and a faster shift to the organized sector has propelled the electric fan market in India. The electric fan industry is divided into product types like ceiling fans, table fans, pedestal fans, wall fans and others. Others include fans like industrial, exhaust, multi-utility, tower, bladeless, etc. In India, ceiling fans dominate the market heavily both in organized and unorganized sector. According to region, south India caters to the largest revenue share, followed by west and north. Eastern region is expected to grow fast in the coming few years. The organized fan market is dominated by national brands like Crompton Greaves, Orient, Havells, Usha, Bajaj, Khaitan, etc. Due to increasing reach of all these national players, unorganized fan market is shrinking at a faster rate than before. Indian consumers are being more inclined towards branded fans due to their quality and durability, be it in urban or rural areas. Organized electric fan industry is categorized on the basis of price viz. economy fans, regular fans and premium fans. Economy fans are those which are priced below Rs. 1200, regular fans come in the range of Rs. 1200 to Rs. 2500 whereas premium fans are priced above Rs. 2500 for a single fan. Regular fans category is the largest category in India both in value and volume terms whereas sales of premium fans are growing robustly in the country. Unorganized fan market does not contain any such category division as they do not fit into the above mentioned price brackets. Key Product Type • Ceiling Fan • Table Fan • Pedestal Fan • Wall Fan • Others “India Electric Fan Market Outlook, 2022” discusses the following aspects of electric fans in India: The report gives an in-depth understanding of electric fan market in India: - India Electric Fan Market Outlook - India Electric Fan Market Size By Value & Forecast - India Electric Fan Market Size By Volume & Forecast - India Electric Fan Market Segmental Analysis: By Region, By Product Type - India Organized Electric Fan Market Size By Value & Forecast - India Organized Electric Fan Market Size By Volume & Forecast - India Organized Economy Fan Market Size By Volume & Forecast - India Organized Regular Fan Market Size By Volume & Forecast - India Organized Premium Fan Market Size By Volume & Forecast - India Organized Electric Fan Market Segmental Analysis: By Company, By Category, By Product Type - India Unorganized Electric Fan Market Size By Value & Forecast - India Unorganized Electric Fan Market Size By Volume & Forecast - India Unorganized Electric Fan Market Segmental Analysis: By Product Type - India Ceiling Fan Market Size By Value & Forecast (Organized & Unorganized) - India Ceiling Fan Market Size By Volume & Forecast (Organized & Unorganized) - India Table Fan Market Size By Value & Forecast (Organized & Unorganized) - India Table Fan Market Size By Volume & Forecast (Organized & Unorganized) - India Pedestal Fan Market Size By Value & Forecast (Organized & Unorganized) - India Pedestal Fan Market Size By Volume & Forecast (Organized & Unorganized) - India Wall Fan Market Size By Value & Forecast (Organized & Unorganized) - India Wall Fan Market Size By Volume & Forecast (Organized & Unorganized) - Pricing Analysis - The key vendors in this market space - Competitive Landscape & Strategic Recommendations This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Report Methodology The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of electric fans in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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