Press release
India LED Lighting Market Precise Outlook 2021 To 2026 - MIC Electronics Ltd, Philips Electronics India Ltd, Osram India Pvt. Ltd
Latest released, the research study on India LED Lighting Market Report Forecast 2021 - 2026, offers a detailed overview of the factors influencing the global business scope. India LED Lighting Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the India LED Lighting. The study covers emerging player's data, including competitive landscape, sales, revenue and global market share of top manufacturers are: MIC Electronics Ltd, Philips Electronics India Ltd, Osram India Pvt. Ltd, Havells India Ltd, InstaPower Ltd, Baja Electricals Ltd, Wipro Consumer Care & Lighting Ltd, Syska LED Lights Private Limited, Surya Roshni Ltd, Abby Lighting & Switchgear LtdThe Indian LED Lighting market is expected to grow at a CAGR of 24.3% during the forecast period (2021-2026).
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Industry News:
- March 2020 - Signify announced the completion of the acquisition of Cooper Lighting Solutions from Eaton for USD 1.5 billion. With this acquisition, the company has planned to focus on the innovation of connected lightings and systems. This is estimated to drive the revenue growth of the company in the North American market with an aimed increase in professional revenues from 42% to 53%.
- February 2020 - Signify introduced a new integrated Philips Combo Charge Controller for streetlights, enabling the emergence of a hybrid solar system. With this innovation, the company is aiming at creating a new market for solar powered outdoor lightings in Asia, Africa, South America, Australia, and Spain, where the company has already installed solar-powered lights.
Market Overview:
- For instance, in April 2019, under the Indian government's energy efficiency program, 21 crores of LED bulbs were distributed in the country, which resulted in the saving of INR 11,000 crore for the consumers. State-run Energy Efficiency Services Limited (EESL), implementing the UJALA scheme for distributing LED bulbs to the consumer, has reduced the procurement price of these lights to INR 38 per unit. The program is aimed at deploying more than 770 million LED lamps across the country by 2020.
- In addition to this, the rising awareness about the cost-effectiveness and eco-friendliness of LED lights among the consumers is estimated to continue to drive the demand for LED lighting at residential as well as commercial sectors. In recent years, India has demonstrated the possibility of deploying LEDs rapidly on a large scale with the right financing and market mechanism. India is now one of the largest LED lighting markets in the world after the UJALA program, offering LED bulbs that are 50% more energy-efficient than other lamps available.
Segmentation by type:
Spot Light
Led Luminaires
Street light
Bulbs
FL tube
Segmentation by application:
Residential
Office
Industrial
Shop
Hospitality
Others
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-Market value USD Million and volume Units Million data for each segment and sub-segment
-Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
-Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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