Players are aiming to bolster their leadership position in the domestic electric fan market with the help of premium category. The launch of fans under this category is an extension of commitment by national manufacturers to discriminating and quality conscious customers. From the last few years, the industry has witnessed a slew of launches in the decorative and premium fans.

1. Premium category will emerge as a luring opportunity for players in the Indian
electric fan industry: Bonafide Research
Players are aiming to bolster their leadership position in the domestic electric fan market with
the help of premium category. The launch of fans under this category is an extension of
commitment by national manufacturers to discriminating and quality conscious customers. From
the last few years, the industry has witnessed a slewof launches in the decorative and premium
fans.
India is a warm country and thus fans are necessary. Pricing has been the primary reason for
the popularity of fans in India as other cooling options like air coolers or air conditioners cost
more and guzzle more electricity. On the other hand, branded fans cost more than Rs. 2500
only which tend to be very affordable as compared to other cooling options. In India, everybody
invests according to his or her spending power to keep home and offices cool. 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. This
category was growing faster than the industry in the period between 2011-2016.
According to recently published report of Bonafide Research “India Electric Fan Market
Outlook, 2022”, there are three categories in which the organized electric fan market is divided
viz. economy fans, regular fans and premium fans. Economy fans are those which are priced
below Rs. 1200, regular fans come in the range of Rs. 1200 to Rs. 2500 whereas premium fans
are priced above Rs. 2500 for a single fan. Regular fans dominate the organized market in
terms of value and volume both whereas sales of premium fans are growing vigorously in India.
All the types of fans like ceiling, table, pedestal and wall are available in the premium category.

2. There are many new launches in this category which has set the trend of premiumization in the
electric fan industry. Sleek and stylish look of premium fans, attractive colours and an undivided
attention of large companies in this segment will help the category to grow more faster than
before in years to come.
According to Anita Patil, Sr. Research Analyst at Bonafide Research, "National players have
been setting the trend of launching electric fans in the premium category to tap the fast growing
opportunities." 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. Usha expanded its 'Striker' fan category by adding new variants in the
premium segment whereas Havells unveiled Maestro, Oyster, Flamingo, Fabio, SS390, Mozel,
Yorker, Cedar and Penta Force. Havells Standard Electricals brand has also unveiled a
premium range of ceiling, pedestal, table, wall and exhaust fans under its stable.
Havells is at the top position in the premium fan category and Crompton is the leader in the
overall domestic electric fan market. Due to favourable conditions, strengthened distribution
reach and brand spend; Crompton now aims to displace Havells in the premium fan category.
The company is presently trailing behind Havells in the premium fan segment but has grown
three times than that of the segment growth. CG launched a full range of premium ceiling fans in
varied colours and styles. The company has also unveiled ‘Prudence’, a premium fan with
wooden blades. Orient Electric, another national player, 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. In
2016, Orient Electric announced the launch of its new ceiling fan, Aeroquiet, which promises
higher air flow with silence. This is the first in the company's Aero Series range of premium
ceiling fans. Currently, Japan-based Hayashi Electric also announced its foray into the Indian
regular and premium electric fan market.

3. Major companies operating in the electric fan market of India are Crompton Greaves Ltd., Usha
International Ltd., Orient Electric Limited, Havells India Limited, Bajaj Electricals Limited,
Khaitan Electricals Limited, Surya Roshni Limited, Anchor Electricals Pvt. Ltd., Polar Industries
Ltd. and Luminous Power Technologies Limited.
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