Shining Opportunities: Trends and Innovations in the India Lighting Market (2024-2032)

India Lighting Market outlook

According to the report by Expert Market Research (EMR), the India lighting market size reached a value of 3.79 billion in 2023. Aided by the increasing demand for energy-efficient lighting solutions, government initiatives promoting sustainable lighting, and the rapid urbanisation and infrastructural development across the country, the market is projected to further grow at a CAGR of 9.8% between 2024 and 2032 to reach a value of USD 8.79 billion by 2032.

Lighting plays a crucial role in the aesthetic and functional aspects of various spaces, including residential, commercial, and industrial settings. With advancements in technology, the Indian market has witnessed a significant shift from traditional lighting products to more energy-efficient and sustainable solutions such as LED lighting. These innovations not only cater to the growing environmental consciousness but also offer substantial cost savings over time, further driving the market forward.

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The India lighting market value is expected to witness a continued expansion driven by the Indian government's push towards energy conservation and sustainable development has been a key driver for the lighting market. Programs such as UJALA (Unnat Jyoti by Affordable LEDs for All) have facilitated the widespread adoption of LED lighting by making it more affordable and accessible to the general public.

Moreover, innovations in lighting technology, including the development of smart and connected lighting solutions, have broadened the market's horizons. These advancements offer enhanced functionality, such as adjustable colour temperatures and remote control operations, catering to evolving consumer preferences.

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The rapid pace of urbanisation and the consequent rise in construction activities have significantly boosted the demand for lighting products. The development of smart cities and infrastructure projects across India presents substantial opportunities for the lighting market, leading to India lighting market development.

Furthermore, with increasing awareness about energy conservation and sustainability, there is a growing demand for energy-efficient lighting solutions. LED lighting, in particular, has gained popularity due to its lower energy consumption and longer lifespan compared to traditional lighting options.

The LED segment is poised for strong growth in the Indian lighting market due to the increasing construction activities. LED lights use approximately 90% less energy than other lighting fixtures, leading to a rise in consumer demand for this segment. In addition to the energy-saving benefits, LED lights also offer superior lighting quality and a wide range of design options. With advancements in technology, LED lights now come in various brightness levels, colours, and shapes, allowing consumers to customise their lighting solutions according to their preferences and requirements.

Government initiatives aimed at promoting domestic manufacturing of lighting products, along with investments in research and development, also bolster the market. Furthermore, the integration of IoT and AI technologies in lighting solutions presents an exciting frontier for the development of smart and connected lighting ecosystems, which is expected to positively influence the India lighting market.

The substantial number of market participants, along with the swift rise in the country's population, is anticipated to propel the expansion of the Indian lighting market in the upcoming forecast period.

India Lighting Market Segmentation

The market can be divided based on light type, product, distribution channels, and end use:

Market Breakup by Light Type

LEDs
CFLs
HIDs and Halogens
Incandescent
Others

Market Breakup by Product

Bulbs
Streetlights
Downlights
Tube Lights
Flood Lights
Others

Market Breakup by Distribution Channels

B2B
B2C

Market Breakup by End Use

Industrial
Manufacturing
Electronics
Oil and Gas
Mining
Automotive
Others
Offices
Government Buildings
Private Buildings
Hospitals
Outdoor

Competitive landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India lighting market. Some of the major players explored in the report by expert market research are as follows:

Signify Holding
Wipro Enterprises Limited
OSRAM GmbH
Bajaj Electricals Ltd
Havells India Ltd
Surya Roshni Limited
Syska Led Lights Pvt Ltd
Others

Frequently Asked Questions on the India Lighting Market

1. What turned into the marketplace length of the lighting fixtures enterprise in India in 2023?

In 2023, the lighting market in India reached a valuation of nearly USD 3.79 billion.

2. What is the predicted boom rate of the India lights marketplace?

The lights marketplace in India is expected to grow at a compound annual boom price (CAGR) of 9.8% among 2024 and 2032.

3. What is the projected market price of the India lighting industry with the aid of 2032?

By 2032, the lights marketplace in India is envisioned to attain a fee of just about USD 8.79 billion, showcasing widespread increase at some point of the forecast duration.

4. What are the primary drivers of the lighting fixtures marketplace in India?

Key drivers of the market consist of the growing populace, expanded government rules for strength saving, and rising infrastructural initiatives.

5. What are the important thing trends in the India lights market?

Significant traits inside the marketplace include the increasing construction industry and the expanded demand for LED lights amongst clients.

6. What are the various kinds of lights to be had within the market?

The market offers numerous light kinds, including LEDs, CFLs, HIDs and halogens, and incandescent, among others.

7. What are the extraordinary products within the India lights market?

The marketplace includes a variety of products which includes bulbs, streetlights, downlights, tube lights, and flood lights, among others.

8. What are the primary distribution channels in the lighting marketplace?

The primary distribution channels inside the marketplace consist of B2B (enterprise-to-enterprise) and B2C (business-to-customer).

9. What are the specific end-uses within the India lighting fixtures marketplace?

The market caters to various stop-uses, consisting of industrial, places of work, authorities homes, non-public homes, hospitals, and outside applications.

10. Who are the main players inside the India lighting fixtures market, in keeping with the record?

Prominent players inside the marketplace consist of Signify Holding, Wipro Enterprises Limited, OSRAM GmbH, Bajaj Electricals Ltd, Havells India Ltd, Surya Roshni Limited, and Syska Led Lights Pvt Ltd, amongst others.

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