LED Lighting Market in India to Grow at 30% Until 2021
Rising government initiatives,
increasing awareness among customers regarding lower power consumption of LED
lighting products, and innovative product offerings to drive LED lighting sales
through 2021.
Being
the second most populous country and fifth major electricity consumer, India
has been witnessing widening electricity demand-supply gap. Consequently, usage
of energy efficient products such as LED lighting products is expected to grow
in the coming years. Moreover, rising government
support and introduction of innovative LED lighting products by manufacturers
has resulted in reduction in prices of these products, thereby offering
consumers with more options to choose from, according to their needs and
preferences.
Browse 21 market data Tables and 17 Figures spread through 111 Pages
and an in-depth TOC on "India LED Lighting Market"
https://www.techsciresearch.com/report/india-led-lighting-market-by-type-led-bulbs-lamps-batten-lights-downlights-etc-by-end-use-sector-commercial-residential-etc-by-application-outdoor-lighting-indoor-lighting-etc-competition-forecast-opportunities/1102.html
According to TechSci Research
report, “India LED Lighting Market By
Type, By Application, By End Use Sector, Competition Forecast and
Opportunities, 2011 - 2021”, the LED lighting market in India is projected
to register a CAGR of over 30%, during 2016-2021, on account of rising personal
disposable income, growing government initiatives encouraging use of LED lights
and increasing focus on smart city projects. For instance, Delhi-Mumbai
Industrial Corridor Development Corporation (DMICDC) announced plans to develop
7 smart cities in Gujarat, Haryana, Maharashtra, Rajasthan, Uttar Pradesh and
Madhya Pradesh in the near future. These projects are expected to further increase
government emphasis on energy efficient lighting products such as LEDs in the
coming years. Favorable government initiatives and policies such as state specific and national
level programs that offer LED lighting products at subsidized rates is
contributing in a huge way towards boosting LED adoption in the country. Additionally, with increasing consumer awareness, demand for LED lights
from the residential as well as commercial sectors in the country is growing at
a fast pace. Rising adoption of LED lighting in the residential
sector can be attributed to low power consumption and long product lifecycle of
these lighting solutions.
Outdoor lighting applications
garnered a revenue share of over 60% in India LED lighting market in 2015 and
the trend is expected to continue through 2021. Philips, Surya Roshni, Havells, Syska and Osram are
few of the leading players operating in India LED lighting market. The adoption of LED lighting products has been recorded highest from Southern
and Northern states due to higher literacy rate, rising disposable
income levels and rising awareness about the benefits of LED lighting products.
Rising urban population of the country, which stood at 31% of the total
population in 2011, and rose to over 33% in 2015, is expected to further drive
demand for LED lighting in India during next five years.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=1102
Customers can also request for 10% free customization on
this report.
“India LED Lighting Market By
Type, By Application, By End Use Sector, Competition Forecast and
Opportunities, 2011 - 2021” has evaluated the future
growth potential of the India LED lighting market and provides statistics and
information on market structure, size, share and future growth of the country’s
LED lights market. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in the India LED
Lighting market.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium market research
reports. Serving 700 global clients with more than 600 premium market research
studies, TechSci Research is serving clients across 11 different industrial
verticals. TechSci Research specializes in research based consulting
assignments in high growth and emerging markets, leading technologies and niche
applications. Our workforce of more than 100 fulltime Analysts and Consultants
employing innovative research solutions and tracking global and country
specific high growth markets helps TechSci clients to lead rather than follow
market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]