Jul 30 2015
The report titled "India LED Lighting Market Outlook to 2019 – Next Wave of Growth Driven by Government Initiatives" provides a comprehensive analysis of the various aspects such as market size of India LED lighting industry by revenue generated and production volume and market segmentation by lamps, bulbs, luminiaries, organized and unorganized and by utility.
The report also covers the market shares of major players in LED industry in India, apart from the export import scenario in the market and statistics on pricing mechanism, future outlook and cost components of LED lights.
The LED market has emerged as one of the fastest growing industries in India. This industry has been majorly driven by factors such as falling prices of LED lights, increasing initiatives taken by the government and rising concerns with respect to energy conservation. LED market in India, which is hugely driven by increasing government initiatives, generated revenue to the tune of INR ~ million in FY'2014. The revenue generated by LED market in India has displayed a CAGR of 56.1% over the past 5 years.
The market has evolved over the years, with South India and North India driving growth. However, low awareness with respect to LED lights continues to deter consumers from using LED lights.
The major players in the LED industry are Philips, Osram, Bajaj, Havells and Syska LED lights among others. Philips held the largest share in terms of revenue generated in FY'2014 and held a market share of ~% in FY'2014. Philips was followed by Havells with a market share of ~%. Syska LED lights was the third largest contributor to revenue with a market share of ~%.
A number of facilities for manufacturing and assembling LED lights have sprung up in India over the past few years. A number of LED exhibitions have also been held in the country ever since the advent of LED lights. The government is also playing an important role in increasing LED penetration in the country with new initiatives such as Domestic Efficient Lighting Programme (DELP).
The LED market is at a nascent stage in India, primarily due to low awareness regarding benefits of LED lights in the country. India has immense potential in the LED industry which is evident from the fact that the market has displayed a CAGR of 56.1% in the last 5 years. The market is expected to grow to INR ~ million in terms of revenue by FY'2019, largely backed by huge consumption volumes on part of the government sector.