India LED Lighting Market

Introduction of the India LED Lighting Market Report

LED products emits up to 90% more efficiently than traditional bulbs. An electrical current pass through a microchip, which illuminates the small light, and results in light. Advantages such as energy efficiency, high intensity & brightness, low radiated heat among others has contributed to the overall growth of the market.

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Market Dynamic

Key Drivers and Emerging Trends

The demand for product is influenced by growing focus on human’s well-being and environment. The adoption of light emitting diode, is majorly due to the rising awareness about its benefits which has driven the growth of the market in the country. This major adoption and shift towards are due to the favourable strategic initiatives by the Indian government, which has surged the growth of the market. For example, SLNP and UJALA are involved in offering light emitting diodes at a subsidized cost and installation projects for streetlights, which has contributed to driving the growth of the market. In 2019, as per the Indian government energy efficiency program, 210 million of light emitting diodes bulbs were distributed in the country, which helped the consumers in reducing the units and electricity consumption. The same program was aimed at deploying more than 770 million light emitting diodes across the country during the historical year 2020. India is now one of the largest markets in the world after the UJALA program, which is one of the major initiative taken by the Indian government for the support of market. Light emitting diodes that are 50% more energy-efficient than other lamps are available, stated by “Central Electricity Authority of India”. In addition, with the increasing energy consumption and electricity spend in India, stated by Indian government and major power generator plants like NTPC, Indian Oil Corp. etc., which is driving demand for the market.

In addition, with the availability of energy efficient lighting solutions, more than 50% of the homes in India have been installed with light emitting diodes, stated by Rural Electrification Corporation Limited, and was estimated that by the end of 2020 it was going to be 94%. This penetration power of light emitting diodes, in India has changed the landscape of the country in the market. Furthermore, with the availability of novel raw materials, to alter the lighting industry includes Nobel prize recipient Shuji Nakamura, whose violet light emitting diodes use a base of gallium nitride as against sapphire to render better colours, product longevity and efficiency. Another material like graphene that are making entry with a big bang, which is expected to create and ample for the market in India.

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Restraint in the India LED Lighting Market

However, poor quality finished products and raw material is the major factor which is likely to hamper the growth of the market, over the forecast period.

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Key Developments:

• • In 2020, Signify introduced a new integrated Philips Combo Charge Controller for streetlights, enabling the emergence of a hybrid solar system. 

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Key questions answered in this research report:

• • At what pace is India LED Lighting market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in India LED Lighting market? What will be the impact of drivers and restraints in the future?
  • What are the various areas of India LED Lighting market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?