The India Outdoor LED Market size is estimated at USD 143.41 million in 2024, and is expected to reach USD 346.13 million by 2029, growing at a CAGR of 19.27% during the forecast period (2024-2029).
The impact of COVID-19 is mainly observed at the first node of the market's value chain, i.e., the manufacturers of lighting products. The sales of both LED electronics and lamps were impacted significantly. According to ELCOMA, around 30% of the components, namely electronic drivers, including chips used in the manufacturing of LED bulbs in India, are imported from Chinese vendors. The LED lighting industry has witnessed shortages in supply due to the pandemic.
The Indian outdoor LED market is fragmented, due to the presence of several global market players. With the market gaining stimulus recently, many companies have a lot of untapped potential, which they can use in expanding their production and product ranges. Owing to this, in 2020, several players, like Orient Electric Limited, launched new lighting series with increased functionalities, and greater flexibility and resolution in outdoor applications.
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