Philips & Surya with 30% share leading India LED lighting market
Increasing government focus
& growing consumer awareness about energy efficient lighting is set to
drive sales of LED lighting products in India.
Recently released report by TechSci
Research, “India LED Lighting Market Forecast
& Opportunities, 2021”, discusses about the LED lights market in India.
The market is expected to witness tremendous growth on account of rising personal
disposable income, increasing government initiatives which are focusing on the
benefits of LED lights.
Consumers are preferring the LED lights
over traditional and CFL lights as LED lights are more environmental friendly
compared to CFL and incandescent lamps. LED manufacturing companies are making
such LED lights which consume less energy thereby reducing the carbon footprint on the environment.
The growing green building construction which involves bounded use of light,
energy and construction material has subsequently driven the demand and sales
of energy efficient LED lighting in India. The growing number of green projects
from government as well as private builders is further projected to increase
the demand for LED lights over the next five years. Delhi-Mumbai Industrial
Corridor Development Corporation (DMICDC) has planned to develop 7 smart cities
in states like Gujrat, Haryana, Maharashtra, Rajasthan, Uttar Pradesh and
Madhya Pradesh, which are expected to be completed in 3 phases within next 10
years wherein government will emphasize on energy efficient lighting products
which is expected to boost the demand of LED lights in the country. Rising
urban population of the country, which stood at 31%, of the total population of
the country, in 2011 rose to over 33% by 2015 which is expected to emanate the
demand for LED lights in India.
Philips & Surya Roshni are leading India LED
lighting market with cumulative share of around 30%. However, the
market is expected to witness major shift due to market entry of new players
and planned launches of innovative products. Several initiatives are being taken by the companies
in order to promote the usage of LED lighting products has also positively
affected the LED market for instance, Philips, which is the market leader in
LED lighting in India has tied up with Elcoma to create awareness amongst consumers
about the advantage of LED lamps.
“India,
is the second most populous country and 5th largest electricity
consumer globally, however, soon there will be a visible gap in the supply and
demand of electricity and in order to reduce the electricity consumption, the
usage of LED lights should be increased. Moreover, the increasing government support and introduction of wide
and innovative portfolio of LED lights results, reduction in prices and this
provides customers more choices which enables them to choose the products
according to their needs and price affordability. These factors coupled
together makes India LED lighting market a lucrative
market for companies operating in the industry.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India LED Lighting Market
Forecast & Opportunities, 2021” has evaluated the
future growth potential of the India LED lighting market and provides
statistics and information on market structure, size, share, forecast and
future growth of the country’s LED lighting market. The report is intended to
provide cutting-edge market intelligence and help decision makers to take sound
investment evaluation. Besides, the report also identifies and analyses the
emerging trends along with essential drivers, challenges and opportunities
present in the India LED Lighting market.
Download
full report on "India LED Lighting Market"
About TechSci Research
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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
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employing innovative research solutions and tracking global and country
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market trends.
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