According to IMARC Group’s latest report, titled “Indian LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Indian LED lighting market size reached US$ 2.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.7 Billion by 2027, exhibiting a CAGR of 23.31% during 2022-2027.
A light-emitting diode (LED) produces light up to 90% more efficiently than incandescent light bulbs. It is made using the p-n junction process and has become one of the most energy-efficient and rapidly developing lighting technology. The directional nature and efficiency of LED lighting have encouraged its demand in streetlights, walkways, parking garage lighting, refrigerated case lighting, modular lighting, and task lighting applications. In India, LED lighting is witnessing huge demand due to its various advantages over conventional light technologies, such as reliability, longer life span, higher efficiency, and environmental friendliness.
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Market Trends and Drivers:
The rising demand for energy-efficient lighting systems and the surging environmental awareness are some of the key factors providing an impetus to the market growth. In line with this, Government of India (GoI) is undertaking various initiatives to promote the use of LED lighting systems, which is bolstering the market growth. Moreover, rapid urbanization and the development of smart building projects are accelerating the market growth. Furthermore, the increasing consumer expenditure power and rising infrastructural investments are bolstering the market growth. Apart from this, the increasing demand for LEDs in architectural lighting across the commercial and residential sectors, the reducing prices of LED lighting, and easy product availabilty in online retail stores are accelerating the market growth.
Indian LED Lighting Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the Indian LED lighting market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Bajaj
- Signify NV
- Surya
- Halonix
- HQ Lamps
- Osram
- Havells
- Crompton
Key Market Segmentation:
The report has segmented the Indian LED lighting market based on product, indoor & outdoor markets, public & private markets, end-use sector and region.
- Indian LED Lighting Market by Product
- Indian LED Lighting Market by Indoor and Outdoor Markets
- Indian LED Lighting Market by Public and Private Markets
- Indian LED Lighting Market by End-Use Sector
- Indian LED Lighting Market by Region
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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