The governments Rural Electrification
Drive has lead Havells India to shift company’s focus on the rural market for
the next few years. Havells India is expecting a significant rise in demand for
electrical consumer products in the country.
The company in its AGM said, government initiatives will improve the
quality of power available and the company's brand Lloyd, will penetrate into
rural areas with its wide range of electrical and consumer durable products.
Havells launched Lloyd’s next generation 4K ULED range of televisions with
screen size ranging between 55 and 65 inches. The market size of both
electrical products and consumer durables together was over ₹1 lakh crore and
is growing, thanks to rising consumer aspirations, rural electrification
programme, easy finance options for consumers etc.
The company has already registered a
25% growth in its first quarter itself & forecast a good growth throughout
the entire fiscal year, with investment of Rs.500cr. Lloyd’s contribution was
Rs.2, 000 cr last year out of total 10,000 cr nationally. South India is the
major market for Havells with a share of 30 per cent in turnover.
Havells India owns some of the most
prestigious Indian brands like Havells, Lloyd, Crabtree, Standard Electric, and
Promptech. The company has products ranging from home and kitchen appliances,
lighting for domestic, commercial and industrial applications, LED lighting,
fans, modular switches and wiring accessories, water heaters, industrial and
domestic circuit protection switchgear, industrial and domestic cables and
wires, induction motors, and capacitors.
Mounting consumer affluence coupled
with technological evolution is expected to drive electric kitchen appliances
industry in India: Bonafide Research. Electric kitchen appliances have become
an essential part of modern life. Today, the market is replete with a range of
appliances designed to suit various requirements of consumers across the
country. Key factors driving growth in the market include increasing numbers of
working women, rapid urbanization, growing number of households, a rise in dual
income nuclear families, improving standards of living, rising disposable
income and higher per capita spends on lifestyle stuffs. According to recently
published report of Bonafide Research “India Electric Kitchen Appliances MarketOutlook, 2021”, the market is expected to grow at a CAGR of around 19% over
next five years.
Premium category will emerge as a
luring opportunity for players in the Indian electric fan industry: Bonafide
Research. 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. 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.
Continuous growth of construction and
development activities, will leads switchgear industry in the forecast period -
Bonafide research. The number of commercial buildings and private flats is
expanding over the nation, particularly in tier 2 & 3 cities and urban
cities. Residential segment witnessing high growth to meet the rising demand
for real estate in the country. This can be the adding benefit and opportunity
for the Low Voltage Switchgear to emerge from this sector too. India Low
Voltage switchgear will have dominance in the forecast period too, over Medium
and High Voltage Switchgear and lead the Switchgear industry. According the
report on 'India Switchgear (LV, MV, HV) Market Outlook, 2023' published by
Bonafide Research, India overall market for switchgear industry is anticipated
to grow more than 7% at the end 2023.
Size zero technology to elevate the
demand of water heaters in India: Bonafide Research. The primary methods of
water heating include boiling, using immersion rods, and Electric, Solar and
Gas water heaters. In terms of the organized water heating, electric water
heaters is dominating the market with the penetration close to 11 to 12%. According
to recently published report of Bonafide Research “India Water Heater MarketOutlook, 2021”, water heater market is estimated to grow with a CAGR of 14.05%
till 2021.
Contact Us
Bonafide
Research & Marketing Pvt. Ltd.
Steven
Thomas – Sales & Marketing Manager
Telephone:
+91-7878231309