Premium Fans to be the highest growing category in the organized fan market of India: Bonafide Research

Various new launches in premium segment, sleek and stylish look of these fans, attractive colours and an undivided attention of large companies in this segment will help the category to grow robustly.

In India, everybody invests according to his or her spending power to keep home and offices cool. 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. India is a warm country and thus fans are necessary. The fan industry is well-established and has grown significantly over the years. Pricing has been the primary reason for the popularity of fans in India. Generally, other cooling options like an air cooler or air conditioner cost more and consume more electricity. On the other hand, the branded fans cost between Rs. 900 to Rs. 1800 only which tend to be very affordable.

According to recently published report of Bonafide Research “India Fan Market Overview”, 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. Regular fans dominate the organized market in terms of value whereas in terms of volume economy fans are the largest selling fans” said Anita Patil, Research Analyst at Bonafide Research.

All the types of fans like ceiling, table, pedestal and wall are available in the premium segment. Premium segment consist of decorative and designer fans with added features and are designed to give sleek and stylish look to the house. Premium fans now come with broader & aerodynamically designed blades for effective air circulation and heavy-duty motor for greater performance. Moreover, these fans are also available in various attractive colours to lure customers. With premium segment, companies are aiming to bolster their leadership position in the domestic fan market and raise their market share. Manufacturers have already started the trend of launching fans in the premium segment to tap the fast growing opportunities.

Usha has expanded its ‘Striker’ fan category by adding new variants in the premium segment. Havells unveiled Maestro, Oyster, Flamingo, Fabio, SS390, Mozel, Yorker, Cedar and Penta Force. Orient introduced the 1200mm Adonis in five new shades, the 1200mm high speed with nano painting Speed King, and the 1200mm Lenora in four new shades. The company also added the remote-controlled premium fans range. Bajaj launched four new super-premium range of ceiling fans. The four models called, ‘Winstrim’, ‘Austrim’, ‘Magnifique’ and ‘Cruz Air’, have been custom-crafted for modern and sophisticated homes. Havells Standard Electricals brand has also unveiled a premium range of ceiling, pedestal, table, wall and exhaust fans under its stable. CG launched a full range of premium ceiling fans in varied colours and styles. Recently, the company has also unveiled ‘Prudence’, a premium fan with wooden blades. The launch of fans under this segment is an extension of commitment by large manufacturers to discerning and quality conscious customers.

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