Indian LED Lighting Market Overview, Share, Size and Key Players: Philips, Surya, Crompton, Bajaj

Indian LED Lighting Market Report, Industry Trends, Growth, Share, Size and Outlook By 2023

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Report Description and Highlights

Report Description

Indian LED Lighting Market Report By Product Type (Panel Lights, Down Lights, Street lights, Tube Lights, Bulbs and Others), Application (Commercial Applications, Residential Applications, Institutional Applications and Industrial Applications), Key Players The Indian LED lighting market has witnessed an exponential growth over the past few years. This can be accredited to the numerous advantages offered by LED lights along with the wide-scale usage of these lights in government lighting programs.

Market Overview: According to the latest report by IMARC Group, titled “Indian LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the Indian LED lighting market was worth US$ 1.5 Billion in 2017. Light-emitting diode (LED) is a semiconductor which produces light when an electric current is passed through it. Also known as solid-state lighting, LED lights have potential benefits over halogen, fluorescent and incandescent lights such as energy-efficiency, longer lifespan and extremely low power consumption. Owing to these factors, they are readily replacing traditional light bulbs in India. Moreover, as LEDs are increasingly being used in automotive headlamps, aviation, general lighting, advertising, lighted wallpapers, medical devices, camera flashes and traffic signals, the LED lighting market is expanding in the country. Apart from this, the entry of Chinese LED light manufacturers in India has encouraged Indian manufacturers to offer innovative products.

Report Description and Highlights

Report Description Indian LED Lighting Market Trends:

Numerous advantages offered by LED lights including improved physical robustness, smaller size, faster switching, high durability, lower heat output, etc. are majorly contributing to the growth of the LED lighting industry across the region. Further, rising consumer awareness regarding the costeffectiveness, enhanced life, better efficiency and inherent eco-friendly nature of LED lights will continue to drive their sales in the industrial, residential and commercial sectors. Additionally, the Indian government is promoting LED street lighting projects and providing LED lights at subsidized rates. For instance, under the Street Lighting National Program (SLNP), over 2.1 million conventional streetlights have been replaced with LED streetlights across the country. Furthermore, the ‘Make in India’ initiative launched by the Government has marked electronics as a core sector and focuses on attracting capital and technological investments in India. Due to these factors, the market is projected to reach a value of US$ 9.0 Billion by 2023, expanding at a CAGR of 34.3% during 2018-2023.

India LED Lighting Market Segmentation: Market Segmentation by Product Type o Panel Lights Request for a sample report: https://www.imarcgroup.com/indian-led-lighting-market/requestsample

Market Forecast

Sample Figure: India: LED Lighting Market Forecast: Volume Trends (in Million Units), 2018-2023

184.3

191.7

199.3

207.3

2018

2019

2020

2021

215.6

224.2

2022

2023

Market Segmentation

Report Description o o o o o

Down Lights Street lights Tube Lights Bulbs Others

On the basis of product type, bulb and tube lights represent the most popular type of LED lighting products, holding the largest market share. They are followed by panel lights, street lights, down lights, flood lights, and others.

Market Segmentation by Application • • • •

Commercial Applications Residential Applications Institutional Applications Industrial Applications

Based on application, commercial applications dominate the Indian LED lighting market, accounting for one-third of the overall market share. They are followed by residential, institutional and industrial applications.

For more information, click here: https://www.imarcgroup.com/indian-led-lighting-market

Market Segmentation

Report Description Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players.

• • • • • •

Philips Surya Crompton Bajaj Halonix Havells

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Report Description and Highlights

Report Description

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