India Electric Fan market Overview, 2022-28

Fans are probably one of the few inventions that have not gone out of fashion even after 125 years of existence. To keep pace with the changing times, manufacturers have focused on improving design, efficiency, and look. Electric fan, which features in the high-market penetration product category, is an item of necessity and mass consumption. It is very high in terms of purchase priority amongst entry-level/basic necessity category durable and the second 'most wanted' consumer durable in rural India after bicycle. The fan market primarily includes the ceiling and table fans along with the modified versions like the pedestal fans, wall fans, exhaust fans, cooling fans or fresher fans, etc.

India's Electric fan market has two markets Organized and unorganized market among which an organized market is ruling the country. A large number of players in the organized and unorganized market has established a broad market of India Electric fans. As per the report titled “India Electric Fan Overview, 2022-28”, Bonafide research the revenue from the India Electric fan market is going to cross INR 16000 Crore by the year 2027-28. India electric fans have mostly four very common types ceiling fans, table fans, Pedestal fans, and Wall fans. During the forecasted years the market is going to increase in niche categories like premium fans, Energy-efficient fans, and customized or decorative fans. Companies have taken some concentrated steps to increase their distribution channel and to cater to the rural market with an increase in electricity penetration. The implementation of Government schemes to increase the penetration of electricity in India would give a hike to the consumption of Electric fans.

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 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.

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

Approach for the Report:
Bonafide Research performed primary as well as secondary research for this study. Initially, a list of manufacturers and suppliers operating in the baby mobility equipment market of India were sourced through secondary sources. With the identified companies and consumers, primary research was carried out which included conducting online surveys, competitor analysis and exhaustive personal interviews - both face to face as well as telephonic basis, to extract maximum information from participants like industry executives/ distributors or consumers. Primary research gave us an idea of company revenues, export, pricing, geographical presence, channel partner model, USP etc. and also helped us to identify various small organized players who otherwise have very less presence on the web. Bonafide Research seeks secondary data from third-party sources such as published articles, company websites, magazine articles, associations, trade journals, annual reports, government official websites and other paid database sources. In addition, data is also mined from a host of reports in our repository, as well as a number of paid databases of Indian government. Using both primary and secondary information, Bonafide Research calculated the market size through a bottom-up approach, where manufacturers’ value sales data for different types of baby mobility products were recorded and subsequently forecasted for the future years.

Intended Audience:
This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to Electric Fan industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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