Global industry research firm, Ken Research, has released its latest report called ‘India LED Lighting Market Outlook to 2019 – Next Wave of Growth, Driven by Government Initiatives’. The report provides a comprehensive analysis of various aspects of the LED market such as market size, including revenue generated and production volumes; market segments covering lamps, bulbs, luminaires, etc; the organied and unorganised sectors and applications.
It also covers the market shares of major players in the Indian LED industry, apart from the export-import scenario and statistics on pricing mechanisms, the future outlook and the cost of components for LED lights.
According to the report, the Indian LED market, which is hugely driven by increasing government initiatives, has grown by a CAGR of 56.1 per cent over the past five years. The major players in the LED industry are Philips, Osram, Bajaj, Havells and Syska, among others.
The government is playing an important role in increasing LED penetration in the country with new initiatives such as the Domestic Efficient Lighting Programme (DELP). The LED market is at a nascent stage in India, primarily due to low awareness regarding the benefits of LED lights. However, India has immense potential in this sector, which is evident from the stupendous growth of the market over the past few years.
