Indian LEDs market is expected to dominate the lighting products by 2022
With its recently published study “Indian Light Emitting Diodes (LEDs) Market: Drivers, Opportunities, Trends & Forecast, 2016–2022”, Infoholic predicts that Indian LEDs market will continue to witness a high growth due to the decreasing LEDs price, increasing governmental support, and increasing market awareness. The LEDs decrease the power consumption requirements and help in bringing down the power requirements for consumers.
High switching cost from traditional sources has been proved a hindrance in the market growth, however growing economies of scale, government subsidies and decreasing LEDs price have made LED products much more affordable for common consumers. Thus, LEDs market in India is expected to grow at a CAGR of 30.0% during the forecast period 2016–2022.
In terms of segment, outdoor lighting segment is expected to witness the highest growth during the forecast period owing to huge investment and high support from the government in terms of replacement of streetlights with LED lights. The overall lighting segment is expected to add the highest value to overall LEDs market during the forecast period 2016–2022.
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“Current government is focusing on becoming energy surplus in the near future and has focused on establishing both renewable and non-renewable sources based power plants. But, this has also led to an emphasis on minimizing the power consumption via adopting the latest technologies and making it available for common people. LEDs is one of the latest technologies which has become much more affordable in the past 2–3 years. Via this trend, the market is expected to replace many traditional light sources in the next 5 years.” – KR Sreenivasan, CEO of Infoholic Research.
“Most of the LEDs utilized in India are imported either from China or other South Asian countries because of high capital investment and cheap labor cost in those countries. However, the LED products market has been witnessing exponential growth in India owing to government support not only in terms of favorable trade policies but also with subsidies on products to help companies create their market in India via increasing affordability. Decreasing LEDs price and continuous support from the government are expected to help in replacing the halogen and incandescent lamps with LEDs in the Indian market.” – Somnath Das, Senior Consultant of Infoholic Research.
Key insights of the report
- Indian LEDs market is analyzed application wise
- Indoor and Outdoor
- Bulbs, Street Lights, and Spot Lights
- Displays and Backlights
- Mobile Devices
- Signs & Boards
- Others (largely automotive)
- Industry outlook: market trends and drivers, restraints, and opportunities
Purchase a copy of India Light Emitting Diodes (LEDs) Market – Drivers, Opportunities, Trends & Forecasts: 2016–2022
About Infoholic Research: Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche markets in ICT and Chemicals & Materials domain. Founded in 2014, we are headquartered in Bangalore, India with an office in the US and consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies.