India LED Market to Grow 30% in the Next 5 Years

Declining LED prices coupled with favorable government initiatives to drive LED lighting market in India during 2015-20

India’s LED lighting market is currently at a nascent stage. Though the LED market is already growing at a robust pace over the last 2-3 years, the country offers huge growth potential, especially over the next 5-10 years. Increasing adoption of LED lighting is being witnessed across commercial and residential sectors, government projects, upcoming smart building projects, etc. According to a recently published report by TechSci Research “India LED Lighting Market Forecast & Opportunities, 2020”, the country’s LED lighting market is projected to register a growth of over 32% during 2015-20.

Key factors that are expected to boost the market include declining LED prices coupled with favorable government initiatives to provide LED lights at subsidized cost and LED installation projects for streetlights. In addition, growing awareness among consumers on account of awareness programs by manufacturers and regulatory bodies is expected to play a vital role in shaping the country’s LED market over the next five years.

“With manufacturing cost witnessing a decline every year and various government initiatives backing LED adoption, the LED lighting market in country is anticipated to grow robustly through 2020. Moreover, rising consumer awareness about cost-effectiveness and eco-friendliness of LED lights would continue to drive volume sales from the residential and well as commercial sectors.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

The report highlights that considering the growing adoption of LED lighting, various major players are planning to set up their manufacturing units in India in future. Philips, Havells, Syska, Innovlite and GE are few of the leading players operating in the India’s LED lighting market, however, various new entrants are expected in foray into the market in the coming years as well.

India LED Lighting Market Forecast & Opportunities, 2020” has evaluated the future growth potential of India’s LED lighting market and provides statistics and information on market structure and consumer behavior trends. The report includes LED lighting projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in LED lighting market in India.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Tokushima, Japan - 6 March 2024: Nichia, the world's largest LED manufacturer and inventor of the high-brightness blue and white LED, has started mass production of the new UV-B (308nm) and UV-A (330nm) LEDs in its popular 434 Series packa... READ MORE

New XLamp® S Line LEDs enhance growth, last longer, lower energy costs Horticulture and other forms of agricultural lighting require application-tuned ratios of spectral content, high efficacy and long lifetimes. Whether you are interested... READ MORE