Indian lighting market has seen positive trends in the past years and so did the LED lighting market.
The Indian LED lighting market in precedent years has been witnessing tremendous growth in terms of value as well as volume. The governance of market is maintained by the exhaustive efforts being done by the government through various schemes such as UJALA and SLNP as well as the efforts by the major players in terms of bringing awareness to India. India is a market of huge opportunity and it will continue to grow at a healthy rate in the next few years to come.
The LED lighting industry which was struggling in the initial years to get a market has finally seen a tremendous rise in the market share in just last 3 years. LED lighting market has literally increased in a very steep manner and the major factor behind this was the government’s initiatives of providing LED light 9W bulbs at a cheaper rate than the market as well as the program for replacing the traditional street lights with LED street lights. The other factors which have made this significant impact are the advertisements for increasing the awareness of LED lights amongst the people as well as the new architectural designs which have boost up the growth of LED Panel and LED Downlights.
Philips and Surya Roshni have emerged as the big players in the LED lighting market acquiring almost 30% of the total market share while Havells and Bajaj are also significant players. Another catchy factor in the LED market is the presence as well as acceptance of products of the Local players which makes it a lucrative market for the budding enterprises.
The wind of the transition from the CFL and incandescent bulbs to LED lights are gaining pace with major population replacing the old lights when stop working with the LED lights. Use of solar LED lights is also gaining momentum in the rural areas of India. Government is yet supposed to distribute nearly 52 Crore LED light bulbs under UJALA. With a wider market to be penetrated as well as the re-purchasing market the LED lighting market in India is expected to perform very well in the future years.