According to TechSci Research report, “India LED Lighting Market – By Region, Competition Forecast & Opportunities, 2018-2028, the India LED Lighting Market is anticipated to register a robust growth during the forecast period, 2024-2028” Due to the increasing emphasis on environmental sustainability, energy conservation has long been a significant implementation goal. Utilizing LED lighting offers substantial energy savings.
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The Indian government has implemented robust energy efficiency initiatives in recent years, aiming to foster an energy services market. For example, the UJALA and LED Street Lighting National Program, launched by the Indian Ministry in January 2020, has successfully installed approximately 361.3 million LED bulbs nationwide and 10.3 million smart LED streetlights, resulting in an estimated annual savings of 6.97 billion kWh. Collaborations with the International Energy Agency (IEA) and various federal and state entities further promote widespread adoption of energy-saving policies across public sectors.
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The Indian LED lighting industry is rapidly expanding and expected to continue growing in response to increasing consumer demand for energy-efficient products and smarter lifestyles. Government initiatives are driving this transition toward energy efficiency. Despite significant advancements in smart home technology and internet penetration in India, smart LED lighting remains in its nascent stages. Consumers are increasingly interested in smart lighting solutions that offer convenience and enhanced aesthetics, whether they are upgrading existing homes or constructing new ones. This trend is expected to provide consumers with more choices in smart LED lighting solutions for residential applications.
India LED Lighting Market is segmented into by type, by application, by end user sector and by region. Based on Type, the LED light bulbs and lamps are expected to be dominant in the India LED Lighting Market, owing to the residential sector's growing usage of LED light bulbs and lamps. In comparison to alternative options like incandescent lights and CFLs, LED light bulbs and lamps provide advantages like improved energy efficiency and high stability. They are also available in a variety of forms. The government's strategy for increasing LED awareness among consumers to reduce/manage energy usage is another element that is anticipated to boost the target market's expansion.
On the basis of End User sector, Commercial segment is expected to dominate the India LED Lighting Market because of the significant growth of India real estate industry. It is expected to increase to USD 1 trillion in 2030 from USD 200 million, in 2021. At the same time, the digital economy and e-commerce attributed to the demand for coworking office spaces, smart warehousing and logistics hubs, which has augmented the demand for LED lighting in the commercial sector, all across India. Moreover, key retailers are now using LED lights to improve their customer experience which is driving the sales of LED lights. Hence, LED lights are not only restricted to residential sector, but also being adopted by the commercial application areas.
Major market players operating in the India LED Lighting Market are:
- 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 Pvt. Ltd.
- GE Lighting India Pvt. Ltd.
- Bajaj Electricals Limited
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“Over the next five to ten years, India offers a huge potential market for the adoption of LED lighting solutions. Given that India is one of the biggest lighting markets, there is a lucrative opportunity for LED producers to set up shop there. Skilled workforce, ease of doing business, and demographic advantages all contribute to the creation of a sustainable environment for the LED industry. The demand for LED lights in India is also projected to be fueled by rising infrastructure spending, a rapid development of street lighting systems, a decline in the average price of LEDs, as well as other government and upcoming smart building programmes.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based India management consulting firm.
“India LED Lighting Market By Type (LED Bulbs & Lamps, Batten Lights, Downlights, Spotlights and Others), By End Use Sector (Commercial, Residential, Institutional, Industrial and Others), By Application (Outdoor Lighting, Indoor Lighting, Automotive Lighting and Others), By Region, Competition Forecast & Opportunities, 2018-2028”, has evaluated the future growth potential of India LED Lighting Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India LED Lighting Market.
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