LED lighting market is projected to reach $2.2 billion by 2021

- Advertisement -
- Advertisement -

LED_street_light (1)February 24, 2015: Over the years, demand for power has increased exponentially in India that has resulted into usage of appliances or products that are power efficient in nature. In India, lighting application consumes significant share of the country’s total power. Owing to demand-supply gap and need to conserve power, utilisation of power efficient lighting source has become critically important. LED based bulbs are emerging as key viable sources of power, which can save power up to 50 per cent.

According to 6Wresearch, India’s LED Lighting market is projected to reach $2.2 billion by 2021. LED Lighting market in India is in its nascent stage; however, high growth is anticipated due to government initiatives to replace incandescent bulbs with LED bulbs in streetlight application. Also, with growing awareness and reduction of prices the market for LED Lighting is exhibited to attain tremendous growth in the forecast period. Additionally, with government initiatives to promote domestic manufacturing, prices are expected to decline further, thus boosting the growth of the market. In 2015, the Government of India announced the distribution of LED bulbs at subsidised rate would further drive the adoption in the country.

Amongst all applications, streetlight is one of the key growing applications in India’s LED lighting market. Central and State governments have taken initiatives to deploy LED bulbs at various locations. For the same, several pilot projects are under process or in planned phase, where traditional streetlights would be replaced by LED bulbs. Chandigarh, Delhi, West Bengal, Maharashtra, Andhra Pradesh, Gujarat, Uttrakhand, and Punjab are some of the states where such initiatives have been taken.

- Advertisement -

Also, in the coming years, as the concept of green building and smart homes increases, demand for LED bulbs is exhibited to surge, which would bolster growth of the market especially in outdoor and indoor applications. In India’s LED lighting market, Philips has captured key share of the market pie in 2014. Through the forecast period, share of Philips is expected to increase further. Other key players of the market include- Syska, Havells, GE and OSRAM.

“India LED Lighting Market (2015-2021)”provides in-depth analysis of the report with 50 figures and 16 tables covered in 112 pages. The report estimates and forecast LED Lighting market by revenue, by applications and regions. The report also gives the insights on competitive landscape, market share by companies, company profiles, market drivers and restraints.

- Advertisement -

Related Artcles

Exclusive

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...

Buzz

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...
Keysight Technologies Pvt Ltd Logo

Keysight Acquires Spirent Communications For $1.46 billion, Outbids Rival Viavi Solutions

0
Keysight's offers 85.9% premium over Spirent's closing price on March 4, exceeding Viavi's 61.4% premium. Keysight expects new serviceable available market opportunities of...

Important Sectors

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...
Keysight Technologies Pvt Ltd Logo

Keysight Acquires Spirent Communications For $1.46 billion, Outbids Rival Viavi Solutions

0
Keysight's offers 85.9% premium over Spirent's closing price on March 4, exceeding Viavi's 61.4% premium. Keysight expects new serviceable available market opportunities of...

Hyundai Motor Boosts EV Investment In Korea

0
The automaker stated that over half of the investment, amounting to 35.5 trillion won will be dedicated to new R&D infrastructure and EV assembly...

Manufacturing

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...