According to the latest IMARC Group report, entitled “India LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The Indian LED lighting market reached a value of US $ 3.58 billion in 2020. Looking ahead, IMARC Group expects the market to grow at a CAGR of 28.3% during 2021-2026.
Like the new coronavirus (COVID-19[FEMALE)[FEMININE) as the crisis takes hold of the world, we are constantly monitoring changes in the markets, as well as the buying behaviors of consumers around the world – our estimates on the latest market trends and forecast values after considering the impact of this pandemic. These observations will be incorporated into the report.
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A light emitting diode (LED) refers to a semiconductor device that emits light when electric current passes through a microchip. LED lighting products offer compact size, high durability, low heat output, minimum radiation emission and consume less power. LED lamps are more efficient than other bulbs, due to which incandescent and fluorescent lamps are largely replaced by LED lighting systems.
Market trends and drivers:
The increasing demand for energy efficient lighting systems, along with a significant drop in the price of LEDs, is mainly driving the growth of the Indian LED lighting market. Additionally, growing environmental concerns have driven the use of LED lighting products to reduce carbon emissions from conventional fluorescent lamps in the country. Moreover, the increasing use of LED lights in auto parts, signals and signage, mobile devices, etc., is also increasing the growth of the market. In addition, the growing demand for LEDs in architectural lighting in the commercial and residential sectors further enhances the growth of the market.
Competitive Analysis and Segmentation of India LED Lighting Market 2021-2026:
Competitive landscape with key players:
The competitive landscape of the India LED Lighting market has been studied in the report along with the detailed profiles of the major players operating in the market.
Some of these key players include:
- HQ lamps
Key market segmentation:
The report has segmented the Indian LED lighting market on the basis of product, public and private markets, indoor and outdoor markets, end-use industry and region.
- India LED Lighting Market by Product
- Indian LED Lighting Market by Indoor and Outdoor Markets
- Indian LED lighting market by public and private markets
- India LED Lighting Market by End Use Sector
- India LED Lighting Market by Region
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Highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- The impact of COVID-19 on the market
- Value chain analysis
- Market structure
- Complete 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 part of the customization.
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