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The Indian LED lighting market was valued at US$ 3.58 Billion in 2020.
We expect the Indian LED lighting market to exhibit a CAGR of 28.3% during 2021-2026.
The elevating levels of urbanization, along with the launch of several government initiatives that encourage the use of LED lights are some of the factors driving the Indian LED lighting market.
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 limiting the demand for LED lights.
Based on the product type, the Indian LED lighting market has been bifurcated into bulbs and tube lights, panel lights, street lights, down lights, and others. Currently, bulbs and tube 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 segment.
On a regional level, the market has been classified into North India, West and Central India, East India, and South India, where North India dominates the Indian market.
Some of the major players in the Indian LED lighting market include Signify NV, Surya, Crompton, Bajaj, Halonix and Havells, etc.
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