Description
Indian fans (ceiling, table, wall, pedestal and tower fans, and others including exhaust and industrial fans) market is estimated to grow at a CAGR of 11.5%. This study will forecast the Indian fans market based on product type, region, and price, in addition to identifying and profiling the leading participants operating in the market. Fan is the largest selling item in the brown goods category in India. With the extended summer spells and rising temperatures, there has been a huge reliance on fans, and the market has seen significant growth in the last few years.
The fans market consists of both organized and unorganized participants. The organized fan sector is dominated by national and multi-national brands such as Crompton Greaves, Usha, Orient, Almonard, Havells, Bajaj, Surya Roshni, Luminous, and Polycab. The study also covers industrial fan manufacturers such as Howden India, Reitz India, Nadi Airtechnics and Twin City Fans.
The growing trend of this market is also likely to continue in the coming years. Increased electrification of rural India, growing preference for premiumization and aesthetic appeal, housing sector expansion, and energy-saving technologies are the major factors driving the growth of this market.
In ceiling fans, the premium segment is anticipated to gather maximum growth as fan manufacturers focus more on decorative and lifestyle fans. Innovations are now focused on the Internet of Things (IoT) technology, paving way for a ‘smart’ integration of fans with other home appliances in the future.
The study’s findings also indicate that the share of the unorganized sector is dwindling, given the goods and service tax (GST) requirements, expanding presence of retail outlets, and the increasing preference for branded products. It examines the effect of government schemes and also competitive developments such as expansions, new product launches, and mergers and acquisitions in the fans market.
Research methodology includes both primary research with data from corporate and dealer contacts and secondary research with an exhaustive search of news articles, corporate publications, and other research reports.
Don't have an account? Create One!
Already have an account? Login!
Connect With LinkedIn
Use your Linkedin account to login or register within our store.You're just one click away.