Fans are one of the electrical appliances which have become almost indispensable in Indian homes and even offices. Electric Fan is a high market penetration product category and is very high in terms of purchase priority amongst durables. The market size in value terms of the fans category is quite large and it is the largest selling item in the brown goods category. Fan as a product category has no major regional disparities in sale. Much of the sale of organised sector is in the metro, tier I and tier II markets. National brands have built their brand image over a period of time through sustained advertising and a good dealer network. Moreover, the export of fans from India has grown considerably in the last few years and is a testimony to the quality and development of the fan industry in India.
According to “India Fan Market Overview”, sales of fan were growing with a CAGR of 9.13% over last five years. With the housing sector growing at a rapid rate and the disposable incomes at a high rate, the demand for electric fans continued to grow. But due to involvement of lesser technological inputs and low entry barrier, the market is equally divided among the organized and unorganized players. Unorganized sector leads the industry in terms of volume whereas organized market leads in terms of revenues. The organised fan sector is dominated by national brands like Crompton Greaves, Usha, Orient, Havells, Bajaj and Khaitan. Unorganized sector has also good brands like Almonard, Cinni, Ortem, MIE, Sanyo, Metro, Omega, Indo, Ankur, Mafco, Navya, Royal, Oswin, Libra, Libery, etc.
"Fan industry is usually segmented on the basis of price. There are three categories in which the organized fan market is divided viz. economy fans, regular fans and premium fans. Economy fans are those which are priced below Rs. 1800, regular fans come in the range of Rs. 1800 to Rs. 3500 whereas premium fans are priced above Rs. 3500 for a single fan. In value terms, regular fans category is the largest category in India whereas in volume terms economy fans is the largest selling category. Unorganized fan market does not contain any such category division as they do not fit into the above mentioned price brackets. Fan market in India broadly includes four types of fan i.e. Ceiling fans, Table fans, Pedestal fans and Wall fans. In organized sector, ceiling fans dominates the market in terms of volume followed by pedestal fans, table fans and wall fans whereas the unorganized sector is heavily dominated by ceiling fans and table fans. Among the four major types of fan, pedestal fans are the most costly, followed by ceiling fans. In terms of regional sales, south India caters to the largest revenue sales, followed by west, north and east.
Key Segments Covered
Other types of fans (Exhaust Fans, Tower Fans, Multi-utility Fans etc.)
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Related report: https://www.bharatbook.com/consumer-goods-market-research-report/retail.html
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