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Indian LED Lighting Market Share, Size, Trends, Growth, Analysis, Forecast: By Product: Panel Lights; Down Lights, Street Lights, Tube Lights, Bulbs, Others; By Application: Commercial, Residential, Institutional, Industrial; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028

Indian LED Lighting Market Outlook

The Indian LED lighting market is expected to grow at a CAGR of 23.4% in the forecast period of 2023-2028.

 

Indian LED Lighting Market

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Owing to various supporting factors, conventional light bulbs in India are easily being replaced by LED lights. Furthermore, as LEDs are progressively used in automotive headlamps, aviation, general lighting, advertising, lighted wallpapers, medical devices, camera flashes as well as traffic signals, the LED lighting market is expanding throughout the country. In addition, the entry of Chinese LED light producers in India has enabled Indian manufacturers to offer innovative products. The Northern Region has the highest proportion of sales in India's overall market, followed by the Southern Region. Supported by various upcoming infrastructural projects throughout residential, industrial, and commercial areas across the country, the market for LED lighting is likely to see strong growth in the forecast years.

 

The Indian LED lighting market has seen an increase due to population growth and subsequent urbanisation in the historical period. With a growing rate of electricity use, demand for an environmentally sustainable and cost-effective lighting solution is also gaining momentum. Thus, LED lighting has begun to dominate the general lighting market of India tremendously in recent years. Several government schemes, like Unnat Jyoti by Affordable LEDs for All (UJALA) as well as Street Lighting National Program (SLNP), has remained India's largest demand generator for LED lighting. The goal of these initiatives is to raise consumer awareness of the adoption of LED bulbs over traditional lighting sources like incandescent bulbs, CFL, and halogen lights. For example, under the SLNP, the Government plans to replace more than 1.34 crore traditional street lights in India, of which approximately 1.04 crore street lights have already been replaced as of November 2020.

 

Market Segmentation

Light-emitting diode (LED) refers to a semiconductor that emits light as the electrical current passes through it. Often known as solid-state lighting, LED lights have potential advantages over halogen, fluorescent, and incandescent lights like energy efficiency, longer lifetime, and exceptionally low power consumption.

 

Indian LED Lighting Market By Product

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The market on the basis of product is segmented into:

  • Panel Lights
  • Down Lights 
  • Street lights  
  • Tube Lights
  • Bulbs
  • Others

 

It finds applications in the following sectors:

  • Commercial
  • Residential
  • Institutional
  • Industrial

 

On the basis of region, the market is divided into:

  • North Region
  • East and Central Region
  • West Region
  • South Region

 

Indian LED Lighting Market By Region

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Market Analysis

Various advantages offered by LED lights, such as improved physical strength, smaller size, faster switching, high durability, and lower heat production, contribute significantly to the development of the LED lighting industry in India. In addition, increasing customer perception of cost-effectiveness, improved life, improved performance, and the inherent eco-friendly value of LED lighting will continue to drive the sales in the retail, residential, and commercial sectors. Moreover, the Indian Government is supporting LED street lighting initiatives and providing LED lights at discounted rates. For example, over 2.1 million traditional street lights have been replaced by LED street lights throughout the region under the Street Lighting National Program (SLNP). In addition, the 'Make in India' initiative introduced by the Government has established electronics as a key sector and emphasises on attracting capital and technical investment in India.

 

Competitive Landscape 

The report gives a detailed analysis of the following key players in the Indian LED lighting market, covering their competitive landscape, capacity, and latest developments like mergers and acquisitions, investments, expansions of capacity, and plant turnarounds:

 

  • Bajaj Electricals Limited
  • Havells India Ltd
  • Wipro Limited
  • Goldmedal Electricals Pvt. Ltd
  • Syska LED Lights Pvt Ltd
  • Signify Holding
  • Crompton Lamps Ltd
  • Finolex Cables Ltd
  • Corvi LED Pvt Ltd
  • Halonix Technologies Private Limited
  • Others

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Application
  • Region
Breakup by Product
  • Panel Lights
  • Down Lights
  • Street lights
  • Tube Lights
  • Bulbs
  • Others
Breakup by Application
  • Commercial
  • Residential
  • Institutional
  • Industrial
Breakup by Region
  • North Region
  • East and Central Region
  • West Region
  • South Region
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Bajaj Electricals Limited
  • Havells India Ltd
  • Wipro Limited
  • Goldmedal Electricals Pvt. Ltd
  • Syska LED Lights Pvt Ltd
  • Signify Holding
  • Crompton Lamps Ltd
  • Finolex Cables Ltd
  • Corvi LED Pvt Ltd
  • Halonix Technologies Private Limited
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface  
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    Global LED Lighting Market Overview

    8.1    Key Industry Highlights
    8.2    Global LED Lighting Historical Market (2018-2022) 
    8.3    Global LED Lighting Market Forecast (2023-2028)
    8.4    Global LED Lighting Market Share by Region
        8.4.1    North America
        8.4.2    Europe
        8.4.3    Asia Pacific
        8.4.4    Latin America
        8.4.5    Middle East and Africa
9    India LED Lighting Market Overview
    9.1    Key Industry Highlights
    9.2    India LED Lighting Historical Market (2018-2022) 
    9.3    India LED Lighting Market Forecast (2023-2028)
10    India LED Lighting Market by Product
    10.1    Panel Lights
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022)
        10.1.3    Forecast Trend (2023-2028)
    10.2    Down Lights
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022)
        10.2.3    Forecast Trend (2023-2028)
    10.3    Street lights  
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022)
        10.3.3    Forecast Trend (2023-2028)
    10.4    Tube Lights
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022)
        10.4.3    Forecast Trend (2023-2028)
    10.5    Bulbs
        10.5.1    Market Share
        10.5.2    Historical Trend (2018-2022)
        10.5.3    Forecast Trend (2023-2028)
    10.6    Others
11    India LED Lighting Market by Application
    11.1    Commercial 
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022)
        11.1.3    Forecast Trend (2023-2028)
    11.2    Residential 
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022)
        11.2.3    Forecast Trend (2023-2028)
    11.3    Institutional
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022)
        11.3.3    Forecast Trend (2023-2028)
    11.4    Industrial
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022)
        11.4.3    Forecast Trend (2023-2028)
12    India LED Lighting Market by Region
    12.1    North Region
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022)
        12.1.3    Forecast Trend (2023-2028)
    12.2    East and Central Region
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022)
        12.2.3    Forecast Trend (2023-2028)
    12.3    West Region
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022)
        12.3.3    Forecast Trend (2023-2028)
    12.4    South Region
        12.4.1    Market Share
        12.4.2    Historical Trend (2018-2022)
        12.4.3    Forecast Trend (2023-2028)
13    Market Dynamics
    13.1    SWOT Analysis
        13.1.1    Strengths
        13.1.2    Weaknesses
        13.1.3    Opportunities
        13.1.4    Threats
    13.2    Porter’s Five Forces Analysis
        13.2.1    Supplier’s Power
        13.2.2    Buyer’s Power
        13.2.3    Threat of New Entrants
        13.2.4    Degree of Rivalry
        13.2.5    Threat of Substitutes
    13.3    Key Indicators for Demand
    13.4    Key Indicators for Price
14    Manufacturing Process
    14.1    Manufacturing Process and Process Flow
    14.2    Raw Material Requirements      
    14.3    Suppliers of Raw Materials and Delivery Time
15    Project Requirements and Costs Involved
    15.1    Land Requirements and Expenditures
    15.2    Construction Requirements and Expenditures
    15.3    Plant Machinery
    15.4    Raw Material Requirements and Expenditures
    15.5    Packaging Requirements and Expenditures
    15.6    Transportation Requirements and Expenditures
    15.7    Utility Requirements and Expenditures
    15.8    Manpower Requirements and Expenditures
    15.9    Other Capital Investments
16    Loans and Financial Assistance
17    Project Economics

    17.1    Capital Cost of the Project
    17.2    Techno-Economic Parameters
    17.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    17.4    Taxation and Depreciation
    17.5    Income Projections
    17.6    Expenditure Projections
    17.7    Financial Analysis
    17.8    Profit Analysis
18    Competitive Landscape
    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    Bajaj Electricals Limited
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    Havells India Ltd
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Wipro Limited
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    Goldmedal Electricals Pvt. Ltd
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    Syska LED Lights Pvt Ltd 
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    Signify Holding
            18.2.6.1    Company Overview
            18.2.6.2    Product Portfolio
            18.2.6.3    Demographic Reach and Achievements
            18.2.6.4    Certifications
        18.2.7    Crompton Lamps Ltd 
            18.2.7.1    Company Overview
            18.2.7.2    Product Portfolio
            18.2.7.3    Demographic Reach and Achievements
            18.2.7.4    Certifications
        18.2.8    Finolex Cables Ltd
            18.2.8.1    Company Overview
            18.2.8.2    Product Portfolio
            18.2.8.3    Demographic Reach and Achievements
            18.2.8.4    Certifications
        18.2.9    Corvi LED Pvt Ltd
            18.2.9.1    Company Overview
            18.2.9.2    Product Portfolio
            18.2.9.3    Demographic Reach and Achievements
            18.2.9.4    Certifications
        18.2.10    Halonix Technologies Private Limited
            18.2.10.1    Company Overview
            18.2.10.2    Product Portfolio
            18.2.10.3    Demographic Reach and Achievements
            18.2.10.4    Certifications
        18.2.11    Others
19    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global LED Lighting Market: Key Industry Highlights, 2018 and 2028
2.    India LED Lighting Market: Key Industry Highlights, 2018 and 2028
3.    India LED Lighting Historical Market: Breakup by Product (USD Million), 2018-2022
4.    India LED Lighting Market Forecast: Breakup by Product (USD Million), 2023-2028
5.    India LED Lighting Historical Market: Breakup by Application (USD Million), 2018-2022
6.    India LED Lighting Market Forecast: Breakup by Application (USD Million), 2023-2028
7.    India LED Lighting Historical Market: Breakup by Region (USD Million), 2018-2022
8.    India LED Lighting Market Forecast: Breakup by Region (USD Million), 2023-2028
9.    India LED Lighting Market Structure

Key Questions Answered in the Report

The market is projected to grow at a CAGR of 23.4% in the forecast period of 2023-2028.

The major drivers of the industry, such as rapid urbanisation, growing awareness regarding the environment, increased adoption of energy efficient and devices, and increased government initiatives, are expected to aid the market growth.

The key trend guiding the growth of the market include the launch of a sustainable and cost-effective lighting solution with improved performance.

The major regional markets for LED lighting in India are North Region, East and Central Region, West Region, and South Region.

Panel lights, down lights, street lights, tube lights, and bulbs, among others, are the significant LED lighting products in the market.

The major applications of LED lighting include commercial applications, residential applications, institutional applications, and industrial applications.

The major players in the market are Bajaj Electricals Limited, Havells India Ltd, Wipro Limited, Goldmedal Electricals Pvt. Ltd, Syska LED Lights Pvt Ltd, Signify Holding, Crompton Lamps Ltd, Finolex Cables Ltd, Corvi LED Pvt Ltd, and Halonix Technologies Private Limited, among others.

Analyst Review

The Indian LED lighting market is further expected to grow at a CAGR of more than 23.4% in the forecast period of 2023-2028.

 

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on its products, the LED lighting market can be segmented into panel lights, down lights, street lights, tube lights, and bulbs, among others. On the basis of applications, the market is categorised into commercial applications, residential applications, institutional applications, and industrial applications. The major regional markets for LED lighting in India are North Region, East and Central Region, West Region, and South Region. The key players in the above market include Bajaj Electricals Limited, Havells India Ltd, Wipro Limited, Goldmedal Electricals Pvt. Ltd, Syska LED Lights Pvt Ltd, Signify Holding, Crompton Lamps Ltd, Finolex Cables Ltd, Corvi LED Pvt Ltd, and Halonix Technologies Private Limited, among others.

 

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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