Led Lighting market and contribution
- 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.
- The Indian government is promoting LED street lighting projects and providing LED lights at subsidized rates
- Under the Street Lighting National Program (SLNP), over 2.1 million conventional streetlights have been replaced with LED streetlights across the country.
- The ‘Make in India’ initiative launched by the Government has marked electronics as a core sector and focuses on attracting capital and technological investments in India.
- Due to these factors, the market is projected to reach a value of US$ 9.0 Billion by 2023, expanding at a CAGR of 34.3% during 2018-2023.
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Market sharing between LED lighting brands and suppliers
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Selected blog written by
Amit Dua
Managing Director
Nyx Industry India Private Limited
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