LED lighting market in India to grow at 30% till 2021

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According to recent report released by TechSci Research, the LED lighting market in the country is expected to grow by 30 per cent till the year 2021. The growth will ride on on account of rising personal disposable income, growing government initiatives encouraging use of LED lights and increasing focus on smart city projects.

The report says that Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) announced plans to develop seven smart cities in Gujarat, Haryana, Maharashtra, Rajasthan, Uttar Pradesh and Madhya Pradesh in the near future. These projects are expected to further increase government emphasis on energy efficient lighting products such as LEDs in the coming years.

Favorable government initiatives and policies such as state specific and national level programmes that offer LED lighting products at subsidized rates is contributing in a huge way towards boosting LED adoption in the country. Additionally, with increasing consumer awareness, demand for LED lights from the residential as well as commercial sectors in the country is growing at a fast pace. Rising adoption of LED lighting in the residential sector can be attributed to low power consumption and long product lifecycle of these lighting solutions.

Indian government in the last one year has initiated lot of schemes to encourage LED manufacturing as well as provided consumers LED bulbs at subsidised rates.

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By Atanu Kumar Das

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