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...