India being a tropical climate country, fan is an indispensable for every property. Fans are now everywhere as compare to the air conditioner. From 17th to 21st-century fans has been a great source of cooler air circulation. India's Electric fan market is mostly ruled by the organized and unorganized market which has given a vast range of electric fans. The emergence of competition between organized and unorganized players has also lead to change in the dynamics of the industry. However, growth in terms of revenue and volume has been greatly witnessed by the organized market. The unorganized market has mostly catered to the rural market, revenue from the unorganized market incurred more than INR 1500 crore for the current fiscal year. Fans are a healthier cooling solution compared to other options as they circulate fresh and clean air when users keep doors and windows open which ensures proper ventilation. Jain focuses on the nuances of the changing technologies and norms in the industry, in the conversation.
Fans help to lower down the temperature, controlling humidity while providing energy-efficient benefits. From the floor fans to tower fans, there is a range of fans in the market. India electric fans have mostly four types which are very common are ceiling fans, table fans, Pedestal fans, Wall fans. According to the report titled “India Electric Fan Market Outlook, 2027-28” by Bonafide Research the revenue grew historically at a CAGR of nearly 7% during the period 2016-17 to 2021-22. The implementation of Government schemes to increase the penetration of electricity in India would give a hike to the consumption of Electric fans in India. According to the region, though south India would lead the in the market however west India would show a robust increase in its market share. As there is an increase in purchasing power by consumers, demand for premium fans has been more. The organized fan market is dominated by Crompton Greaves, Havells, Orient, Usha, Bajaj, Khaitan Electricals dominates the market. These national brands have built their brand image over a period of time, through continuous advertising and a good dealer network. Companies are widening their modern trade market network to penetrate with better space. The companies have also launched fans at affordable prices which have affected the unorganized market growth rate. The organized market has three price segments viz. Economy fans are those whose price is lower than Rs.1500, Regular fans range from Rs.1500-2500 and Premium fans are above Rs. 2500 for a single fan. Among them, regular fans have the largest market share. With the changing lifestyle of people and increase of disposable income demand for Premium fans creating its unique space in an India Electric market. The unorganized market does not have these price segments.
BLDC (Brushless Direct Current) technology or BLDC motor, in general, has been on the market for decades and is used widely in many electrical appliances. However, until recently, the technology wasn’t used in ceiling fans. Conventional fans with induction motors usually consume 70-75 watts of power. However, BLDC fans consume half as much power. Thus, a household with 4 conventional fans can save approximately Rs. 7000 annually on its electricity bill by switching to BLDC fans. With millions of ceiling fans sold annually in India, potential energy and cost savings are huge along with a significant reduction in carbon footprint. Unlike normal induction motor-based fans, BLDC fans come with Brushless electronic DC motor that uses permanent magnets. The use of BLDC motor eliminates friction, motor noise, and sparks that usually occur in the case of normal fans due to continuous contact of brushes with commutators. Since the wear and tear are eliminated, BLDC motors have a longer service life compared to typical induction motors.
Key product type
• Ceiling Fans
• Table Fans
• Pedestal Fans
• Wall Fans
• Others types of fans(Exhaust Fans,Multi-Utility fans,etc)
Considered in the report
• Geography: India
• Base year: 2021-22
• Historical year: 2016-17
• Forecasted year: 2027-28
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