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The Indian LED lighting market reached a value of US$ 2.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.7 Billion by 2027, exhibiting a CAGR of 23.31% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
LED lights have emerged as a powerful source for lighting over the past several years. Due to their numerous advantages over conventional lighting technology, they have swiftly gained prominence in the Indian lighting market. Although Indian LED lighting market is at a nascent stage, it offers innumerable opportunities for growth over the next few decades. As India represents one of the biggest lighting markets, it offers a lucrative option for LED manufacturers to set up their facilities in the region. Skilled labour, ease of doing business and demographic advantages provides a sustainable environment for the LED industry.
Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Currently, the demand for LED lighting systems is primarily concentrated in the North and South regions due to growing urbanization rates and increasing number of government initiatives that encourage the use of LED lights. The government’s support through various regulations that promote the investments in energy efficient lighting technologies have expanded the applications of LED lights across various industrial, commercial and residential sectors.
A rapidly growing automotive industry also provides productive opportunities for the use of LEDs in head lamps, rear lamps, turn signal and brake lights. Other important factors such as increasing infrastructural investments, rapid growth of street lighting systems, decline in average prices of LEDs and various government and upcoming smart building projects are expected to drive the demand of LED lights in India.
IMARC’s latest study “Indian LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” provides a techno-commercial roadmap for setting up an LED manufacturing plant. The study, which has been done by one of the world’s leading research and advisory firms, covers all the requisite aspects of the India LED lighting market. This ranges from macro overview of the market to micro details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics including expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the LED industry in any manner.
Technical and Financial Analysis:
Indian LED lighting market is highly fragmented with the presence of several small and large manufacturers competing in terms of price and quality. Some of the major players in the market are:
|Base Year of the Analysis||2021|
|Units||US$ Billion, Million Units|
|Segment Coverage||Product Type, Application|
|Companies Covered||Signify NV, Surya, Crompton, Bajaj, Halonix, Havells|
|Customization Scope||10% Free Customization|
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The Indian LED lighting market was valued at US$ 2.8 Billion in 2021.
We expect the Indian LED lighting market to exhibit a CAGR of 23.31% during 2022-2027.
The escalating demand for energy-efficient lighting solutions, along with the introduction of cost-
effective smart LED lighting solutions with improved controls, is primarily driving the Indian LED
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations in India resulting in temporary halt in numerous construction and remodeling
activities, thereby negatively impacting the LED lighting market.
Based on the product type, the Indian LED lighting market has been bifurcated into panel lights,
down lights, street lights, tube lights, bulbs, and others. Currently, panel lights hold the majority of
the total market share.
Based on the application, the Indian LED lighting market can be divided into commercial
applications, residential applications, institutional applications, and industrial applications. Among
these, commercial applications currently represent the largest market share.
Some of the major players in the Indian LED lighting market include Signify NV, Surya, Crompton,
Bajaj, Halonix, Havells, etc.
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