India: Non-Household Fan Market 2024

Non-Household Fan Market Size in India

After two years of growth, the Indian non-household fan market decreased by -0.3% to $X in 2022. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +18.1% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2021, and then fell modestly in the following year.

Non-Household Fan Production in India

In value terms, non-household fan production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 31%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Non-Household Fan Exports

Exports from India

In 2022, after six years of growth, there was significant decline in shipments abroad of non-household ventilation fans, when their volume decreased by -33.6% to X units. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 100% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then dropped rapidly in the following year.

In value terms, non-household fan exports shrank markedly to $X in 2022. In general, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 35% against the previous year. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

Germany (X units) was the main destination for non-household fan exports from India, with a 34% share of total exports. Moreover, non-household fan exports to Germany exceeded the volume sent to the second major destination, Saudi Arabia (X units), fourfold. The third position in this ranking was taken by Oman (X units), with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +53.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+34.9% per year) and Oman (+45.6% per year).

In value terms, the largest markets for non-household fan exported from India were the United States ($X), Germany ($X) and the United Arab Emirates ($X), with a combined 32% share of total exports. China, Thailand, Mexico, Saudi Arabia, Oman, Nepal, Bahrain and Romania lagged somewhat behind, together accounting for a further 18%.

In terms of the main countries of destination, Mexico, with a CAGR of +141.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average non-household fan export price amounted to $X per unit, waning by -12.8% against the previous year. In general, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 27% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-1.2%), while the prices for the other major destinations experienced a decline.

Non-Household Fan Imports

Imports into India

Non-household fan imports into India declined to X units in 2022, dropping by -7.6% on the previous year. In general, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2015 when imports increased by 85%. Over the period under review, imports reached the peak figure at X units in 2021, and then dropped in the following year.

In value terms, non-household fan imports declined significantly to $X in 2022. Over the period under review, imports, however, enjoyed a modest increase. The most prominent rate of growth was recorded in 2021 when imports increased by 49%. As a result, imports reached the peak of $X, and then contracted significantly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest non-household fan supplier to India, accounting for a 89% share of total imports. It was followed by South Korea (X units), with a 2.5% share of total imports. The third position in this ranking was held by Thailand (X units), with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+14.0% per year) and Thailand (+15.6% per year).

In value terms, China ($X) constituted the largest supplier of non-household ventilation fans to India, comprising 31% of total imports. The second position in the ranking was taken by Germany ($X), with an 8.5% share of total imports. It was followed by South Korea, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.2% per year) and South Korea (+4.6% per year).

Import Prices by Country

In 2022, the average non-household fan import price amounted to $X per unit, waning by -35.7% against the previous year. In general, the import price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when the average import price increased by 27%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform