India LED Lighting Market Outlook, 2019-2025: Anticipating a Robust CAGR of 23.6% During the Forecast Period - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 30, 2020--
The “India LED Lighting Market (2019-2025): Market Report by Types, by End-Users, by Applications, by Regions, and Competitive Landscape.” report has been added to ResearchAndMarkets.com’s offering.
According to this research, the India LED Lighting Market is projected to grow at a CAGR of 23.6% during 2019-2025.
India LED lighting market witnessed a surge in recent years on account of growing population and subsequent urbanization. In 2018, India’s energy demand grew by 4%, which outpaced the global energy demand of 2.3%. With the increasing rate of electricity consumption, the demand for an environment friendly and cost-effective lighting solution is also gaining traction. Hence, in the recent years, LED lighting has started to considerably penetrate the mainstream general lighting market of India.
Several government schemes such as Unnat Jyoti by Affordable LEDs for All (UJALA) and Street Lighting National Programme (SLNP) remained the biggest demand drivers for the LED lighting market in India. The aim of such initiatives is to increase awareness among the consumers regarding the adoption of LED bulbs over conventional lighting sources such as incandescent bulbs, CFL and halogen lights. For instance, under the SLNP, the government aims to replace over 1.34 crore conventional street lights in India, out of which, around 1.04 crore street lights were already replaced as on November 2019.
The Northern region accounts for the largest revenue share in the overall market in India, followed by the Southern region. With several upcoming infrastructural projects across the residential, industrial and commercial domains across several parts of the country, the demand for LED lamps & luminaires is projected to witness significant growth over the coming years.
This report thoroughly covers the market by types, applications, wattage, end users and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report
The report provides a detailed analysis of the following market segments:
For more information about this report visit https://www.researchandmarkets.com/r/lmlot9
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PUB: 01/30/2020 05:02 AM/DISC: 01/30/2020 05:02 AM