The emerging technologies have been changing the lighting industry over the past decades, which covers the movement from halogen lamps to incandescent bulbs to Light Emitting Diodes (LEDs). The developing economies which have been lagging behind the developed economies in terms of technological acceptance level are now being considered among the target markets for new product launches.
Indian lighting market has been witnessing a shift from traditional light sources to non-conventional products such as LEDs. Although, the product manufacturing companies still have to rely heavily on imports for LEDs supply, yet the market is witnessing high growth owing to government support in terms of favorable import policies and subsidies in the consumer segment. A similar trend has also been witnessed in other LEDs product markets as well where LED displays are replacing the traditional displays and LED sign boards are replacing conventional boards changing the ways the marketing is being done.
The study of Indian LEDs market provides the market size information and market trends along with the factors and parameters impacting in both short and long term. The study also covers the competitive scenario of the market with respect to the raw material availability, major players with their branding strategies, and differentiating factors among others. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business.
According to this research, Indian LEDs market is expected to grow at a CAGR of 32.0% during the forecast period 2016-2022 to reach $3.4 billion by 2022. Lighting segment is expected to contribute the largest contribution towards the growth whereas the highest growth is expected from mobile devices segment which is expected to be benefitted by technological development, decreasing LEDs price and increasing disposable income of Indian consumers.
Improving standard of living with developing economy along with decreasing LEDs price is resulting in increasing affordability of LED products, providing potential for market growth via replacement of traditional light sources. Further, market penetration for LED products is continuously increasing, driven by increasing literacy levels and technological awareness. Many international players have established their manufacturing set-ups in India in order to reap benefits of growing Indian market. Some of the prominent players in Indian LED market are OSRAM India Pvt. Ltd., Kwality Photonics Pvt. Ltd., Havells India Limited, and SYSKA LED Ltd. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
1.1 Research Methodology
1.2 Market Definition & Coverage
1.2.1 Market Definition
1.2.2 Major Applications Areas
1.2.3 Major Applications Areas, by Sub Segments
2 Executive Summary
3 Market Overview
3.1 Country Trends
3.2 PESTLE Analysis
3.3 Market Drivers
3.4 Market Challenges & Inhibitors
4 India LED Market Analysis
4.1 Momentum Analysis By Applications
4.2 India LED Market Revenues, By Applications
4.3 India LED Market Volume, By Applications
4.4 India LED Market Volume, By Applications (Year-on-Year)
4.5 LED Market Revenues from Mobile Devices, By Sub-segments
4.6 LED Market Revenues from Displays, By Sub-segments
4.7 LED Market Revenues from Lighting, By Sub-segments
4.8 LED Market Revenues from Signs & Boards, By Sub-segments
4.9 LED Market Revenues from Other Applications
5 Supply Analysis, by Key Players
6 Supplier Profiles
6.1 Kwality Photonics Pvt Ltd
6.2 Bag Electronics India Pvt Ltd
6.3 Havells India Limited
6.4 Laxman Energy Products Limited
6.5 Syska Led Lights Pvt Ltd
6.6 Osram India Pvt Ltd
LEDs market in India is expected to grow at a CAGR of 32% during the forecast period to reach $3.4 billion by 2022. The LEDs market is analyzed based on applications areas - lighting, displays & backlights, mobile devices, signs & boards and others. The application area of lighting has further been divided into sub-application areas of indoor lighting and outdoor lighting along with bifurcation into the products of bulbs, street lights and spotlights. Outdoor lighting is expected to grow with the highest growth rate among application areas for LEDs in the Indian market.
The study covers and analyzes the “India LEDs” market, bringing out the complete key insights of the industry. The report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.