Government initiatives for promoting investments in LED Lighting market such as UJALA (Unnat Jyoti by Affordable LEDs for All) and Make in India are one of the major factors driving the Indian LED Lighting Market.
According to IMARC Group, the Indian LED Lighting market was worth around US$ 690 Million in 2015, growing at a CAGR of around 52% during 2008–2015. Light Emitting Diode or LED lights are more energy efficient, sturdy and environment-friendly than incandescent or fluorescent lights. They have a longer life, more colour variants and easy digital control. The growth of the LED Lighting market is driven by several factors like rising environmental concerns, infrastructural development, government support for promoting investments in LED lighting systems, skilled labour and strong growth of the automobile industry. Currently, indoor lighting represents the largest application segment accounting for around half of the total LED lighting market in India, followed by outdoor lighting and automobile lighting.
IMARC Group’s latest study “Indian LED Lighting Market – Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue” segments the Indian LED lighting market on the basis of different LED products. The Bulb & Tube light segment dominated the market accounting for a third of the total LED lighting market, followed by panel lights, street lights, down lights, flood lights and others. Region-wise, Southern India dominated the Indian LED lighting market accounting for around 35% of the total market share. Southern India was followed by the Northern India, Western India and Eastern India. Currently, Philips represents the largest player in the Indian LED market accounting for around a fourth of the total LED sales in 2015. Some of the other key players analysed in this report include Surya, Crompton, Bajaj, Halonix, Havells, Osram, Wipro and HPL.
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The report provides a detailed 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 essential aspects of the Indian LED lighting market. This ranges from a comprehensive view of the market to minute 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.
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