Press Release

India LED Lighting Market to Grow at 24% during 2017 – 2022

Favorable government initiatives, growing environmental concerns and declining average selling price to drive India LED lighting market through 2022

According to a recently released report by TechSci Research, India LED Lighting Market By Type, By End Use Sector, By Application, Competition Forecast & Opportunities, 2012 – 2022, the LED lighting market in India is projected to grow at a CAGR of over 24% during 2017 – 2022. LED lightings are highly energy efficient, consume less energy, have longer product life cycle and leave less carbon footprint as compared to conventional lighting solutions such as CFLs, halogens and incandescent lights. In addition, conventional lights cause harm to the environment by emitting UV and infrared radiations. Thus, with increasing environmental concerns, demand for LED lightings in India is increasing at a healthy pace, and this growth trend is expected to continue over the next five years as well.

Browse 22 market data Tables and 45 Figures spread through 121 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

In 2015, the Government of India launched the National Programme for LED-based home and street lighting to promote the use of LED bulbs. Moreover, the government is distributing LED bulbs through the state-run company, Energy Efficiency Services Limited (EESL), and embarked on a major scheme to sell subsidized light-emitting diode lamps (LED Lamps) to consumers. Under the program, these lamps are priced at less than $ 1.50, which is likely to accelerate their adoption in the country. Moreover, under the India Domestic Lighting Efficiency Programme (DELP), another major government initiative, a 9-watt LED bulb is available at just $ 1.43 for Indian consumers. As per the initiative, each household is entitled to purchase a maximum of ten bulbs. These can be paid in ten monthly instalments, which are added to the consumers’ electricity bill, thereby making purchase of LED bulbs affordable for even those belonging to the lowest income groups.

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In 2016, India LED lighting market was dominated by LED bulbs & lamps, and the segment is forecast to maintain its dominance over the next five years as well, owing to easy availability of innovative products at reasonable prices coupled with increasing expenditure on promotional programs by public as well as private entities for creating awareness among consumers and promoting the use of LED bulbs & lamps.

“There has been a consistent increase in migration of population from villages to small towns as well as from small towns to Tier II, Tier III and metro cities. As per the United Nations, India is anticipated to add around 500 million people to its urban population during 2010-2050, and Delhi, Mumbai, Bangalore, and Kolkata are forecast to emerge as megacities in coming years due to better employment opportunities. This development is expected to increase the electricity demand, which in a way would mean brighter days for LED lighting market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India LED Lighting Market By Type, By End Use Sector, By Application, Competition Forecast & Opportunities, 2012 – 2022 has evaluated the future growth potential of India LED lighting market and provides statistics and information on market structure, size, share and future growth. 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 analyzes the emerging trends along with essential drivers, challenges and opportunities present in 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.

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