LED lighting market in India growth over 30% in five years

LED light prices continued to decline, coupled with government incentives will drive the rapid growth of the LED lighting market in India in 2015-2020.

Currently, the Indian LED lighting market is in its infancy in the past 2,3 years, has maintained a steady growth. Today, the state government has introduced incentives for market provides huge potential for growth, especially in the next 5-10 years. We can see that more and more commercial establishments, residential, government programs and the future of intelligent buildings are actively using LED lighting. Foreign research institutions TechSci said India LED lighting market is expected to achieve over 32% growth in 2015-2020.

The key factors are expected to drive the market include LED prices continued to decline, and good government initiatives, such as ultra-low price offer subsidized LED lights, LED street light installation works carried out. In additional, more and more consumers are aware of both energy-saving and environmentally friendly LED lighting, which is also to promote the development of the next five years, LED lighting market in India has played a crucial role.

Taking into account the needs of the Indian market for LED lighting products, climbed over the major lighting manufacturers are planning to set up manufacturing facilities in India next. Currently, only Philips, Havells, Innovlite and a few other manufacturers in India GE LED lighting market operations, however, the next few years there will be more vendors enter the Indian lighting market.