The latest report by IMARC Group titled, “Indian LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the Indian LED lighting market reached a value of US$ 1.5 Billion in 2017, growing at a CAGR of more than 52% during 2010-2017. LED lights have emerged as a powerful source of lighting in India. As compared to the conventional lighting sources, Light Emitting Diode or LED lights are more energy-efficient and environment-friendly. Moreover, they have a longer life, more colour variants and easy digital control which have contributed in influencing their demand among the consumers. As one of the biggest representatives of lighting markets, India also offers a lucrative option for LED manufacturers to set up their facilities in the region such skilled labour, ease of doing business and demographic advantages.
Highlights of the Indian LED Market:
- In India, the market growth is influenced by cost-effectiveness, government support and infrastructural development.
- Philips is the largest player in the market.
- The market is expected to reach a value of US$ 8.5 Billion by 2023.
The LED market has emerged as one of the fastest growing markets in India. The primary factor which has helped in driving the market growth is the active participation of the government. Over the past several years, the Indian government has launched various programmes to encourage investments in energy efficient lighting systems. Some of the other factors which have helped in advancing the market include rising demand for these lights in the automobile industry, environmental concerns such as global mandate to address GHG emissions, infrastructural development, etc. Owing to this, the market is further expected to reach a value of US$ 8.5 Billion by 2023.
The market is segmented on the basis of different LED products. The bulb & tube light segment dominates the market, accounting for a third of the total share. It is followed by panel lights, street lights, down lights and flood lights. On the basis of regional segmentation, the Southern Indian region dominates the Indian LED lighting market, accounting for more than a third of the total market share. It is followed by the Northern India, Western India and Eastern India. An evaluation of the competitive landscape provides details of the major players operative in the market. Some of the key players include Philips, Surya, Crompton, Bajaj, Halonix and Havells.
The report 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.
The report has evaluated the Indian LED market on the basis of:
Market by Product Type
- Panel Lights
- Down Lights
- Street lights
- Bulb & Tube Lights
- Flood Lights
Market by Application
- Commercial Applications
- Residential Applications
- Institutional Applications
- Industrial Applications
Key Player Profiles
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