LED Lighting
India ' s
LED Lighting market is forecast to grow at a CAGR of 32.15 % over six years .
LED Lighting , which accounts for a 19 % share in the current overall Lighting market , is anticipated to reach 62 % by the year 2021 . The growing awareness about LED lighting in Southern India has proved to be the important market for LED lighting companies . Street lighting application accounts for majority of the market revenues in India ' s LED lighting market . The outdoor LED lighting segment is growing robustly on account of growing demand for LED installations in parks , streets , railways , metro stations , parking lots and other public places .
The Indian market continues to be mainly driven by government which makes up 51 percent of all LED orders . The streetlight market , for example is benefiting from a lighting overhaul in cities from old lights to LED . While in the commercial lighting segment there is a heightened interest in industrial lighting and in down lighters , which in India are vigorously shifting to LED as a source . India ' s lighting market has been growing with a CAGR of 16.83 % for the last five years and is projected to grow even in the future due to excellent growth in the LED Lighting industry . The LED Lighting market has been growing with a whopping CAGR of 57.31 % over the last five years . Government initiatives to replace incandescent bulbs with LED bulbs under various schemes , increasing energy demand in the country and declining prices of LED lights are the factors driving the growth of LED lighting in India .
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