The company expects premium fans to contribute to 10 percent of the total fan sales in the period.
Orient Electric, part of the CK Birla Group, is aiming to corner around 25 percent share of the domestic fan market in the next two years, a top official said today. Besides, Orient Electric is aiming to double its market share in the premium fan segment to 70 percent by 2020.
The company expects premium fans to contribute to 10 percent of the total fan sales in the period.
"We would like see ourself as clear innovator in the category and complete leader in the premium segment and other segments, which would help increase our share from 24 to 25 percent in the next two years," Orient Electric CEO Rakesh Khanna told PTI.
The company has almost 19 to 20 percent market share in the organised sector. According to him, the total size of fan market in India is around 55 million units.
Of this, organised fans constitute 40 million. Ceiling fans contribute 30 million to the organised fan segment.
Presently, premium fans, priced over Rs 4,000, have a market share of one percent of the total fans but in value terms it is around 4 percent.
In 2016-17, Orient Electric had a turnover of Rs 1,363.70 crore. Of this, around 70 percent came from fan segment while 20 percent from the lighting.
Rest 10 percent came from appliances. The company has also bagged an order to supply around one lakh fans from state-run Energy Efficiency Services Ltd (EESL) and is expecting more follow up orders.
Besides, Orient Electric, which demerged from its parent firm Orient Paper and Industries in January this year, is also working on exports. "We are the largest exporter of fans from India.
We have 60 percent share in that. We export to almost 35 plus countries and it contributes 15 to 20 percent of our total sales," said Orient Electric Sr VP & Business Head, Fans Atul Jain.
