Indian LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview 2023-2028:
The Indian LED lighting market size reached US$ 3.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.9 Billion by 2028, exhibiting a growth rate (CAGR) of 23.38% during 2023-2028.
LED lights have emerged as a powerful source for lighting over the past several years. Due to their numerous advantages over conventional lighting technology, they have swiftly gained prominence in the Indian lighting market. Although Indian LED lighting market is at a nascent stage, it offers innumerable opportunities for growth over the next few decades. As India represents one of the biggest lighting markets, it offers a lucrative option for LED manufacturers to set up their facilities in the region. Skilled labour, ease of doing business and demographic advantages provides a sustainable environment for the LED industry.
Indian LED Lighting Market Trends:
Currently, the demand for LED lighting systems is primarily concentrated in the North and South regions due to growing urbanization rates and increasing number of government initiatives that encourage the use of LED lights. The government’s support through various regulations that promote the investments in energy efficient lighting technologies have expanded the applications of LED lights across various industrial, commercial and residential sectors.
A rapidly growing automotive industry also provides productive opportunities for the use of LEDs in head lamps, rear lamps, turn signal and brake lights. Other important factors such as increasing infrastructural investments, rapid growth of street lighting systems, decline in average prices of LEDs and various government and upcoming smart building projects are expected to drive the demand of LED lights in India.
IMARC’s latest study “Indian LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” provides a techno-commercial roadmap for setting up an LED manufacturing plant. The study, which has been done by one of the world’s leading research and advisory firms, covers all the requisite aspects of the India LED lighting market. This ranges from macro overview of the market to micro details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics including expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the LED industry in any manner.
Markets Analysed:
Indian Lighting Market
Indian LED Lighting Market
Indian LED Lighting Market by Product Type
Indian LED Lighting Market by Application
Indian LED Lighting Market by Region
Indian LED Lighting Market by Public and Private Sectors
Indian LED Lighting Market by Indoor and Outdoor Applications
Products Manufactured:
Panel Lights
Flood Lights
Down Lights
Street Lights
Tube Lights
Bulbs
Others
Technical and Financial Analysis:
Manufacturing Process
Raw Material Requirements
Land Requirements
Construction Requirements
Manpower Requirements
Utility Requirements
Packaging Requirements
Capital Investments
Operating Expenses
Incomes
Profit Margins
Return on Investment
Competitive Landscape:
Indian LED lighting market is highly fragmented with the presence of several small and large manufacturers competing in terms of price and quality. Some of the major players in the market are:
Signify NV
Surya Roshni Limited
Crompton Greaves Consumer Electricals Limited
Bajaj Electricals Limited
Halonix Technologies Pvt. Ltd.
Havells India Limited
Key Questions Answered in This Report
1. What is the size of the Indian LED lighting market in 2022?
2. What is the expected growth rate of the Indian LED lighting market during 2023-2028?
3. What are the key factors driving the Indian LED lighting market?
4. What has been the impact of COVID-19 on the Indian LED lighting market?
5. What is the breakup of the Indian LED lighting market based on the product type?
6. What is the breakup of the Indian LED lighting market based on the application?
7. Who are the key companies/players in the Indian LED lighting market?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global LED Lighting Industry
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3 Market Breakup by Region
- 5.4 Market Breakup by Application
- 5.5 Market by LED Products: LED Lamps, Modules and Fixtures
- 5.5.1 Current and Historical Market Trends
- 5.5.2 Market Forecast
- 5.6 Market Forecast
- 6 Why is the LED Market so lucrative in India
- 6.1 India Represents One of the World's Biggest Lighting Markets
- 6.2 India’s Expanding Consumer Durables Market Provides Immense Potential for Backlighting
- 6.3 The Government Sector Represents One of the Biggest Drivers of this Market
- 6.4 India Represents One of the World’s Fastest Growing Automobile Markets
- 6.5 India is Turning into a Lucrative LED Manufacturing Destination
- 6.6 Other Factors Driving this Market
- 7 Indian LED Lighting Industry
- 7.1 Market Overview
- 7.2 Market Performance
- 7.2.1 Volume Trends
- 7.2.2 Value Trends
- 7.3 Impact of COVID-19
- 7.4 Market Breakup by Product Type
- 7.5 Market Breakup by Application
- 7.6 Market Breakup by Region
- 7.7 Market Breakup by Imports and Domestic Manufacturing
- 7.8 Market Breakup by Public and Private Sectors
- 7.9 Market Breakup by Indoor and Outdoor Applications
- 7.10 Market Forecast
- 7.11 SWOT Analysis
- 7.11.1 Overview
- 7.11.2 Strengths
- 7.11.3 Weaknesses
- 7.11.4 Opportunities
- 7.11.5 Threats
- 7.12 Value Chain Analysis
- 7.13 Porter’s Five Forces Analysis
- 7.13.1 Overview
- 7.13.2 Bargaining Power of Buyers
- 7.13.3 Bargaining Power of Suppliers
- 7.13.4 Degree of Competition
- 7.13.5 Threat of New Entrants
- 7.13.6 Threat of Substitutes
- 7.14 Key Market Drivers and Success Factors
- 7.15 Key Success Factors and Risk Factors for LED Manufacturers
- 8 Market Breakup by Product Type
- 8.1 Panel Lights
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Down Lights
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Street lights
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Tube Lights
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Bulbs
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 9 Market Breakup by Application
- 9.1 Commercial Applications
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Residential Applications
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Institutional Applications
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Industrial Applications
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 10 Competitive Landscape
- 10.1 Market Structure
- 10.2 Market breakup by Key Players
- 11 LED Manufacturing Process
- 11.1 Panel Light
- 11.1.1 Product Overview
- 11.1.2 Manufacturing Process and Process Flow
- 11.1.3 Raw Material Requirements
- 11.1.4 Suppliers of Raw Materials and Delivery Time
- 11.2 Down Light
- 11.2.1 Product Overview
- 11.2.2 Manufacturing Process and Process Flow
- 11.2.3 Raw Material Requirements
- 11.2.4 Suppliers of Raw Materials and Delivery Time
- 11.3 Tube Light
- 11.3.1 Product Overview
- 11.3.2 Manufacturing Process and Process Flow
- 11.3.3 Raw Material Requirements
- 11.3.4 Suppliers of Raw Materials and Delivery Time
- 11.4 Bulbs
- 11.4.1 Product Overview
- 11.4.2 Manufacturing Process and Process Flow
- 11.4.3 Raw Material Requirements
- 11.4.4 Suppliers of Raw Materials and Delivery Time
- 11.5 Street Light
- 11.5.1 Product Overview
- 11.5.2 Manufacturing Process and Process Flow
- 11.5.3 Raw Material Requirements
- 11.5.4 Suppliers of Raw Materials and Delivery Time
- 11.6 Flood Light
- 11.6.1 Product Overview
- 11.6.2 Manufacturing Process and Process Flow
- 11.6.3 Raw Material Requirements
- 11.6.4 Suppliers of Raw Materials and Delivery Time
- 12 Project Details, Requirements and Costs Involved
- 12.1 Land Requirements and Expenditures
- 12.2 Construction Requirements and Expenditures
- 12.3 Plant Machinery
- 12.4 Machinery Pictures
- 12.5 Raw Material Requirements and Expenditures
- 12.6 Raw Material and Final Product Pictures
- 12.7 Packaging Requirements and Expenditures
- 12.8 Transportation Requirements and Expenditures
- 12.9 Utility Requirements and Expenditures
- 12.10 Manpower Requirements and Expenditures
- 12.11 Other Capital Investments
- 13 Loans and Financial Assistance
- 14 Project Economics
- 14.1 Capital Cost of the Project
- 14.2 Techno-Economic Parameters
- 14.3 Product Pricing and Margins Across Various Levels of the Supply Chain
- 14.4 Taxation and Depreciation
- 14.5 Income Projections
- 14.6 Expenditure Projections
- 14.7 Financial Analysis
- 14.8 Profit Analysis
- 15 Key Player Profiles
- 15.1 Signify NV
- 15.2 Surya Roshni Limited
- 15.3 Crompton Greaves Consumer Electricals Limited
- 15.4 Bajaj Electricals Limited
- 15.5 Halonix Technologies Pvt. Ltd.
- 15.6 Havells India Limited
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