Indian LED Lighting Market Overview 2018: Growth, Demand and Forecast Research Report to 2023

According to the latest report by IMARC Group, titled “Indian LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the Indian LED lighting market was worth US$ 1.5 Billion in 2017. Light-emitting diode (LED) is a semiconductor which produces light when an electric current is passed through it. Also known as solid-state lighting, LED lights have potential benefits over halogen, fluorescent and incandescent lights such as energy-efficiency, longer lifespan and extremely low power consumption. Owing to these factors, they are readily replacing traditional light bulbs in India. Moreover, as LEDs are increasingly being used in automotive headlamps, aviation, general lighting, advertising, lighted wallpapers, medical devices, camera flashes and traffic signals, the LED lighting market is expanding in the country. Apart from this, the entry of Chinese LED light manufacturers in India has encouraged Indian manufacturers to offer innovative products.

Numerous advantages offered by LED lights including improved physical robustness, smaller size, faster switching, high durability, lower heat output, etc. are majorly contributing to the growth of the LED lighting industry across the region. Further, rising consumer awareness regarding the cost-effectiveness, enhanced life, better efficiency and inherent eco-friendly nature of LED lights will continue to drive their sales in the industrial, residential and commercial sectors.

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