According to IMARC Group’s latest report, Indian LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Indian LED lighting market reached a value of US$ 2,754 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 9,658 Million by 2027, exhibiting a CAGR of 23.31% during 2022-2027. A light-emitting diode (LED) refers to a semiconductor device that emits light when the electric current is passed through a microchip.
LED lighting products offer compact size, high durability, low heat output, minimum radiation emission, and consume less power. LED lights are more efficient in comparison to other light bulbs, owing to which, incandescent and fluorescent lights are prominently being replaced by LED lighting systems.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The increasing demand for energy-efficient lighting system, along with a significant decline in the price of LED, is primarily augmenting the growth. Furthermore, the growing environmental concerns have propelled the use of LED lighting products for reducing the carbon emissions from conventional fluorescent lights in the country.
Moreover, the rising use of LED lights in automotive parts, signals and signage, mobile devices, etc., is also augmenting the market growth. Additionally, the increasing demand for LED in architectural lighting across both commercial and residential sectors is further bolstering the growth of the market.
Indian LED Lighting Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the Indian LED lighting market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Signify NV
- HQ Lamps
Key Market Segmentation:
The report has segmented the Indian LED lighting market on the basis of product, public & private markets, indoor & outdoor markets, end-use sector and region.
- Market by Product
- Market by Indoor and Outdoor Markets
- Public and Private Markets
- by End-Use Sector
- Indian LED Lighting Market by Region
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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