India Lighting Market To Grow At A CAGR Of 9.8% By 2027

India Lighting Market To Grow At A CAGR Of 9.8% By 2027

The India Lighting Market Growth, Share, Trend, Size, Analysis, Report and Forecast 2022-2027’, by Expert Market Research, gives an extensive outlook of the India lighting market, assessing the market on the basis of its segments like light type, products, distribution channel, and end uses.

The report studies the latest updates in the market, along with their impact across the market. It is also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

India Lighting Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2017-2027)

• Historical Market Size (2021): USD 3.14 Billion
• Forecast CAGR (2022-2027): 9.8%
• Forecast Market Size (2027): USD 5.51 Billion

India’s lighting market is expected to be driven by the increasing applications of LEDs in traffic signals, advertising, lighted wallpaper, medical equipment, and automobile headlights. The use of lighting systems in heavily populated urban areas such as Delhi, Mumbai, and Kolkata has also increased in demand for Lighting systems in India.

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Furthermore, the use of LED lights in place of conventional light bulbs is also driving the growth of the Indian lighting market in the forecasted period. The invasion of Chinese manufacturers into the Indian market has led Indian manufacturers to offer a vast product range. Increasing product variation and high product availability is expected to drive market growth in the coming years.

India Lighting Industry Definition and Major Segments

Lighting system or “system” means plants, works, instrumentalities, and properties used or useful in connection with providing lighting and necessary resources and appurtenances for the system.

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On the basis of various segments, the India Lighting Market is segmented as follows:

Based on light type, the marked is bifurcated into:

• LEDs
• CFLs
• HIDs and Halogens
• Incandescent
• Others

Based on product, the market can be divided into:

• Bulbs
• Streetlights
• Downlights
• Tube Lights
• Flood Lights
• Others

Based on distribution channels, the market is segmented into:

• B2B
• B2C

Based on end use, the market is divided into:

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

India Lighting Market Trends

In India, the LED market is driven by the competitive pricing of a lighting system. The country is spending money on ecologically friendly and sustainable lighting. The need for new outdoor LEDs in upcoming infrastructure projects is rising, which is further expected to propel the market growth. Increasing infrastructural projects by the government are driving the lighting market in the country.

For instance, the Airports Authority of India (AAI) declared that they would upgrade the air conditioning system at Chennai Airport by installing new ultraviolet germicidal irradiation (UGVI) lights. The terminal and building lighting will make sure that the circulated air is clear of bacteria and other microbes. As an end user, the residential sector is expected to have the largest market share in the forecasted period owing to the increasing demand for new products at regular intervals.

Key Market Players

The major players in the india lighting market report include:

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

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers, and acquisitions, among other latest developments of these market players.

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