According to IMARC Group’s latest report, titled “Indian 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 forward, IMARC Group expects the market to grow at a CAGR of 28.3% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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A light-emitting diode (LED) refers to a semiconductor device that emits light when the electric current is passed through a microchip. LED lighting products offer compact size, high durability, low heat output, minimum radiation emission, and consume less power. LED lights are more efficient in comparison to other light bulbs, owing to which, incandescent and fluorescent lights are prominently being replaced by LED lighting systems.
Market Trends and Drivers:
The increasing demand for energy-efficient lighting system, along with a significant decline in the price of LED, is primarily augmenting the Indian LED lighting market growth. Furthermore, the growing environmental concerns have propelled the use of LED lighting products for reducing the carbon emissions from conventional fluorescent lights in the country. Moreover, the rising use of LED lights in automotive parts, signals and signage, mobile devices, etc., is also augmenting the market growth. Additionally, the increasing demand for LED in architectural lighting across both commercial and residential sectors is further bolstering the growth of the market.
Indian LED Lighting Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the Indian LED lighting market has been studied in the report with the detailed profiles of the key 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 & private markets, indoor & outdoor markets, end-use sector and region.
- Indian LED Lighting Market by Product
- Indian LED Lighting Market by Indoor and Outdoor Markets
- Indian LED Lighting Market by Public and Private Markets
- Indian LED Lighting Market by End-Use Sector
- Indian LED Lighting Market by Region
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Key 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
- Structure of the Market
- Comprehensive 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 a part of the customization.
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