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The India LED lighting market size is forecast to increase by USD 6.92 billion at a CAGR of 23.23% between 2023 and 2028. The market is witnessing significant growth, driven by several key factors. The declining manufacturing cost of LED lights has made them increasingly affordable, making them an attractive alternative to traditional lighting solutions. Additionally, government initiatives, such as the National Mission for Sustainable and Energy Efficiency, are propelling the demand for energy-efficient LED lights. However, challenges remain, including the limited thermal tolerance of LEDs installed in industrial facilities, which necessitates careful installation and maintenance. Despite these challenges, the market is expected to continue its growth trajectory, fueled by increasing awareness of energy efficiency and the government's push towards sustainable lighting solutions.
The market is witnessing significant growth due to the increasing replacement of inefficient lighting systems with energy-efficient LED alternatives. LED lighting offers several advantages such as energy consumption reduction, improved illumination strength, and longer lifespan. The market is segmented into LED strips, LED bulbs, and LED tube lights. Smart lighting systems are gaining popularity with the integration of Wi-Fi, IoT, and wireless communication. These systems include smart sensors for occupancy detection and thermal management. Daylighting and color consistency are crucial factors influencing the market's growth. The use of LED lighting extends to various applications such as illumination, display and signage, and consumer electronics.
Semiconductor devices like OLEDs and Light-emitting Plasma (LEP) technology are also contributing to the market's growth. Energy Star certified LED lighting and building automation systems further boost the market's adoption. The Indian government's initiatives to promote energy efficiency and the phasing out of incandescent and fluorescent lights are expected to drive the market's growth. The focus on color rendering index and thermal management is essential to maintain the quality and longevity of LED lighting solutions.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The luminaries segment is estimated to witness significant growth during the forecast period.LED lighting is revolutionizing the Indian market with its energy efficiency and superior illumination strength, offering a viable solution to the challenges posed by inefficient traditional lighting systems. LED strips, bulbs, tube lights, and luminaires are increasingly being adopted for indoor and outdoor applications, including surgical illumination, phototherapy, endoscopy, and smart home solutions. These advanced lighting systems consume less energy compared to conventional lighting, reducing high energy usage and promoting energy conservation and carbon reduction. Smart LED lighting systems, integrated with Wi-Fi, occupancy sensors, daylighting, and Internet-of-Things (IoT) technologies, provide enhanced features such as wireless communication, smart sensors, occupancy detection, and thermal management.
These features ensure color consistency, improve color rendering index, and enable interoperability with proprietary protocols. LED luminaires are replacing traditional lighting solutions in various sectors due to their long lifespan, lower maintenance costs, and energy savings. They are being integrated into exit lights, floodlights, high-bay, and low-bay lights, offering a higher return on investment. The challenges associated with traditional lighting systems, such as frequent replacement, the need for external ballasts, and their toxic nature, are compelling original equipment manufacturers (OEMs) to adopt LED lighting for a more sustainable and efficient future.
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The luminaries segment accounted for USD 2.28 billion in 2018 and showed a gradual increase during the forecast period.
Our market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Declining manufacturing cost of LED lights is the key driver of the market. The Indian LED lighting market is witnessing significant growth due to the government's UJALA initiative to replace inefficient lighting systems with energy-saving LED solutions. This initiative has led to a decline in manufacturing costs, making LED lighting an affordable option for indoor and outdoor applications. LED strips, bulbs, tube lights, and luminaires are increasingly being adopted for various uses, including surgical illumination, phototherapy, endoscopy, and smart home solutions. Wi-Fi, occupancy sensors, daylighting, and IoT technologies are enhancing the functionality of LED lighting systems. Energy efficiency, energy conservation, carbon reduction, and automotive sales are other key drivers for the market. The decline in manufacturing costs is also reducing the initial installation cost, accelerating the adoption of LED lighting.
Thermal management, color consistency, color rendering index, and interoperability are important considerations for LED lighting manufacturers. Proprietary protocols and wireless communication are enabling smart sensors and occupancy detection, making LED lighting a smart and sustainable choice for both indoor and outdoor applications.
Government initiatives propelling demand for LED lights is the upcoming trend in the market. The Indian LED lighting market is experiencing significant growth due to the increasing demand for energy-efficient solutions in both indoor and outdoor applications. Inefficient lighting systems, which contribute to high energy usage and carbon emissions, are being replaced with LED lighting solutions. LED luminaires, including LED bulbs, tube lights, and strips, offer superior illumination strength while consuming less energy. Smart LED lighting systems, incorporating Wi-Fi, occupancy sensors, and daylighting, are gaining popularity for their energy conservation and carbon reduction capabilities. In the healthcare sector, LED lighting is being used for surgical illumination, phototherapy, and endoscopy, offering better color consistency and Color Rendering Index (CRI).
The Indian market for LED lighting is expected to grow further due to government initiatives such as the development of smart cities and the adoption of smart home solutions. The Internet-of-Things (IoT) and Light Fidelity (Li-Fi) technologies are being integrated into LED lighting systems, enabling wireless communication, smart sensors, occupancy detection, and thermal management. The automotive industry is also adopting LED lighting for its energy efficiency and long lifespan. Despite the initial high investment, traditional lighting solutions are being replaced due to their high energy consumption and maintenance costs. Product certification and interoperability are crucial factors in the adoption of LED lighting systems, ensuring energy savings and reducing the total cost of ownership.
Limited thermal tolerance of LEDs installed in industrial facilities is key challenge affecting the market growth. LED lighting is increasingly becoming a preferred choice over traditional lighting systems due to its energy efficiency and superior illumination strength. However, the use of LED lighting in commercial and industrial applications poses unique challenges. LEDs can experience reduced lighting efficiency when exposed to high temperatures, moisture, and other harsh environments. This is particularly relevant in industrial settings where temperatures tend to be high, leading to increased internal temperatures in LED drivers, which can adversely impact the performance and lifespan of LED luminaires. Moreover, the use of external LED drivers for LED lamps and fixtures can result in premature failure due to high internal operating temperatures.
To address these challenges, smart LED lighting solutions are gaining popularity. These systems incorporate Wi-Fi, occupancy sensors, daylighting, and other energy-saving features such as LED strips, bulbs, tube lights, and smart home solutions. Product certification, color consistency, color rendering index, and interoperability are essential considerations for LED lighting in various indoor and outdoor applications, including surgical illumination, phototherapy, endoscopy, and automotive sales. Smart LED lighting systems utilize wireless communication, smart sensors, and occupancy detection to optimize energy conservation and carbon reduction. Thermal management and proprietary protocols are crucial for ensuring optimal performance and longevity of LED lighting systems.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Axiom Controls Pvt. Ltd - The company provides a selection of LED lighting solutions, including the Bajaj Ivora 10-Watt LED Bulkhead Ceiling Light, the Bajaj LED Deco Ping Pong 0.5W, and the Bajaj Ivora Plus LED Panel 12W SQR CDL.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
LED lighting is revolutionizing the Indian market with its energy efficiency and superior illumination strength, offering an effective solution to the high energy consumption of inefficient lighting systems. The market is witnessing significant growth due to the increasing demand for energy-saving solutions in both indoor and outdoor applications. Wi-fi enabled LED lighting, occupancy sensors, daylighting, and smart LED lighting systems are gaining popularity in India. LED strips, bulbs, tube lights, and luminaires are widely used for various applications, including surgical illumination, phototherapy, endoscopy, and automotive sales. The market is also driven by the adoption of smart home solutions, energy conservation, carbon reduction, and IoT-enabled lighting systems.
Smart LED lighting systems use wireless communication and smart sensors for occupancy detection, thermal management, color consistency, and interoperability, offering advanced features and improved user experience. The market is expected to grow further with the increasing focus on product certification and energy efficiency, making LED lighting an ideal choice for both residential and commercial sectors.
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Market Scope |
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Report Coverage |
Details |
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Page number |
135 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 23.23% |
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Market growth 2024-2028 |
USD 6.92 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.35 |
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Key companies profiled |
Axiom Controls Pvt. Ltd, Crompton Greaves Consumer Electricals Ltd., Diamond Lighting, Eltecks India Pvt. Ltd., Eveready Industries India Ltd., Halonix Technologies Pvt. Ltd., Havells India Ltd., Jaquar, Koninklijke Philips N.V., KwalityIndia.com, Magik LED, Nirvana Lights, Orbit Lightings, Oreva, Polycab India Ltd., Surya Roshni Ltd., Syska Led Lights Pvt. Ltd., UM Green Pvt. Ltd., Wipro Ltd., and Bajaj Electricals Ltd. |
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Market dynamics |
Parent market analysis, market forecast , market growth inducers and obstacles,market forecast , fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Market Segmentation by Distribution Channel
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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