India LED Lighting Market By Type (LED Bulbs & Lamps, Batten Lights, Downlights, Spotlights and Others), By End Use Sector (Commercial, Residential, Institutional, Industrial), By Application (Outdoor Lighting, Indoor Lighting, Automotive Lighting and Others), By Region, Competition Forecast & Opportunities, 2018-2028
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia LED Lighting Market By Type (LED Bulbs & Lamps, Batten Lights, Downlights, Spotlights and Others), By End Use Sector (Commercial, Residential, Institutional, Industrial), By Application (Outdoor Lighting, Indoor Lighting, Automotive Lighting and Others), By Region, Competition Forecast & Opportunities, 2018-2028
The India LED Lighting Market is expected to increase at a rate more than 24.3% during the forecast period because LED sales in India surpassed those of incandescent, CFL, and tube light lights, increasing their market share from 0.3% to 46%, in 2021. Government initiatives, adoption in metro areas due to increased awareness and higher socio-economic growth are driving the significant rise in demand for LED lighting. Based on demands from the street lighting and industrial lighting domains, rural areas and Tier-II cities have also contributed to an increase in demand.
LED or Light Emitting Diode is a semiconductor device that emits lights when the electric currents flow through it. LEDs are used in various applications such as alarm and security systems, optical communication, robotics, remote controlled operations, etc. Moreover, LEDs offer several benefits over traditional lighting such as long-lasting capability, quick response time, fast switching capabilities and low power requirements.
Increasing Demand for Smart Lighting
The LED lighting market in India has grown over the past decade, owing to several benefits over the older technology. Decreasing LED bulb prices, along with favourable government initiatives will drive the India LED Lighting Market, until 2023. Moreover, increasing adoption of LED lighting is being witnessed across residential and commercial sectors, government projects, and upcoming smart building projects, etc.
The LED lighting industry in India is also being driven by the demand for a connected and smart lifestyle. Many technologies that are still being developed for the LED lighting sector, are untapped. The LED lighting market will therefore continue to develop during the forecasted period. Additionally, Internet of Things (IoT) is one progressive technology that allows/will allow multiple objects to be connected to one another. Technologies based on visible light communication include Li-Fi is another good example. This technology is essentially Wi-Fi, but with light, and indoor positioning, which tracks people's positions when using luminaires.
Therefore, with the growing demand for smart lighting, the India LED Lighting is also expected to grow during the forecast period.
Government Initiatives Drive the Market Growth
The main driver of LED lighting in India is a government policy initiative such as Unnat Jyoti by Affordable LEDs for All (UJALA), which procured the LED bulbs for the national market. This initiative brought LED prices down through competitive bidding, allowing the bulbs to be sold at reasonable prices, through registered vendors and kiosks. Moreover, the Street Lighting National Programme (SLNP), has already replaced over 2.1 million conventional streetlights with LED streetlights across the country, which has spurred the growth of India LED Lighting Market.
Furthermore, by increasing the quality of bulb and increasing industrial capabilities, there is an immense potential for India to continue its LED Lighting Market growth and this would be done through improving the focus in the entire value chain, considering research and development, demand side management, job creation and manufacturing actives.
Hence, smart cities, national LED Programme and several other government initiatives have led to a stronger growth. Not only the prices reduced drastically, but also the massive acceptance among the people will lead a massive growth opportunity in the next 5-10 years.
Increasing Demand for Sustainability
The adoption of LED lights in residential and commercial properties, is growing. With proper care and maintenance, LED lights such as LED tri proof lights, can experience an exceptionally long operating life. In properly designed luminaire, LEDs can be expected to operate for more than 100,000 hours. Certain factors determine the complete lifecycle of an LED light source such as desired lumens output, fixture designs, junction temperature and ambient operating temperature. The extended operating life of LED bulbs means that commercial buildings can increase the usable space throughout their building design. With LED lights having a longer life cycle than traditional light sources, commercial buildings are not required to extensively stock spare bulbs or accommodate maintenance for light fixtures.
Market Segments
India LED Lighting Market is segmented by type, by application, by end user sector and by region. Based on type, the market is segmented into LED Bulbs & Lamps, Batten Lights, Downlights, Spotlights, Others. Based on Application, the market is segmented into Outdoor Lighting, Indoor Lighting, Automotive Lighting, Others. Based on end user sector, the market is segmented into Commercial, Residential, Institutional, Industrial.
Market Players
India LED Lighting Market players include Surya Roshni Ltd., Havells India Limited, Shree Sant Kripa Appliances Pvt. Ltd, OSRAM India Private Limited, Crompton Greaves Consumer Electricals LTD, Halonix Technologies Limited, Panasonic India, GE Lighting India Pvt. Ltd., Bajaj Electricals Limited
Recent Developments
- In 2019,Signify announces collaboration with Livspace (A Home Interiors Company) inIndia to provide a wide range of smart lighting options for customers designingtheir homes through the Livspace (A Home Interiors Company) platform.
- In November2022, Messe Frankfurt India and ELCOMA (Electric Lamp and ComponentManufacturers Association of India) jointly organized the mega trade fair whichshowcased over 1000 cutting-edge lighting products and applications, inclusiveof finished products and accessories, lighting component and raw materials,smart lighting systems, solar lights as well as LED manufacturing equipment andmachinery, including a strong line up of ‘Make in India’ products.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | By Type By Application By End User Sector By Region |
| Regional Scope | North, West, South, East |
| Key companies profiled | Surya Roshni Ltd., Havells India Limited, Shree Sant Kripa Appliances Pvt. Ltd, OSRAM India Private Limited, Crompton Greaves Consumer Electricals LTD, Halonix Technologies Limited, Panasonic India, GE Lighting India Pvt. Ltd., Bajaj Electricals Limited |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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