LED Lighting Market in India 2024-2028

LED Lighting Market In India 2024-2028

The LED lighting market in India is forecasted to grow by USD 6.92 bn during 2023-2028, accelerating at a CAGR of 23.23% during the forecast period. The report on the LED lighting market in India provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by declining manufacturing cost of LED lights, phasing out halogen, incandescent, fluorescent, and HID lamps, and increasing demand for LED lighting in hazardous areas.

Technavio's LED lighting market in India is segmented as below:

By Product

• Luminaries
• Lamps

By Application

• Indoor
• Outdoor

By Distribution Channel

• Offline
• Online

This study identifies the government initiatives propelling demand for LED lights as one of the prime reasons driving the LED lighting market in India growth during the next few years. Also, advances in automotive lighting systems and growing traction for intelligent lighting systems will lead to sizable demand in the market.

The report on the LED lighting market in India covers the following areas:

• LED lighting market in India sizing
• LED lighting market in India forecast
• LED lighting market in India industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading LED lighting market in India vendors that include 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.. Also, the LED lighting market in India analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.