According to the report analysis, ‘India
Light Emitting Diodes (LEDs) Market - Drivers, Opportunities, Trends, &
Forecasts: 2015-2022’ states that the LEDs market in India is estimated
to increase at a significant CAGR of 32% during the review period to reach USD
3.4 billion by 2022. Moreover, the report also suggests that there are numerous
key players which actively functioning in this sector more actively for leading
the fastest the market growth and registering the highest value of market share
across the India while developing the technologies of manufacturing light
emitting diodes and enhancing the working techniques of the producers and young
workforce more positively includes Kwality Photonics Pvt Ltd, Bag Electronics
India Pvt Ltd, Havells India Limited, Laxman Energy Products Limited, Syska Led
Lights Pvt Ltd, Osram India Pvt Ltd and several others.
Whereas, the Indian region is a fast improving the economy
with augmenting the per capita income and enormous consumer base. The growing environmental
and technological consciousness coupled with the growing disposable income has occasioned
in the huge probable the market for the novel technologies, creating India a
key market for new products and technologies, specifically in the consumer
market sector. The Indian government in indulgence of LEDs product utilization has
rolled out consumer subsidies and assistances. Further, the government has also
been supportive with the favorable trade tariffs for importing LEDs for product
manufacturing. LEDs lighting dissemination in India is predictable to augment
the exponentially during the review period substituting the traditional halogen
and incandescent lamps even in rural areas.
Furthermore, the application field of lighting has
further been separated into sub-application areas of indoor lighting and
outdoor lighting along with the bifurcation into the products of bulbs, street
lights and spotlights. Outdoor lighting is estimated to increase with the maximum
growth rate among application areas for LEDs in the Indian market.
A few years ago, the application of LED was inadequate
to assured specific lighting requirements and had not arrived the mainstream common
lighting the applications. The entrance of LED in applications such as general
lighting has provided a resilient thrust to the market. LED is predicted to
take over the conservative CFL and CCFL lighting market owing to the advanced
features. Moreover, it is a cost effective solution for all lighting as well as
other application determinations such as back lighting in mobile devices and great
screen displays, automotive lighting and many others.
Not only has this, the augment in the government aim on
the energy saving solutions, augmented in the utility rebates, and increasing the
display and enormous screen back lighting market are the aspects that fuel the
market growth. In addition, the growth of smart lighting and extraordinary
efficacy LED boom up the growth of the LED market.
Yet, it is anticipated that in the near future the
market of light emitting diodes across the India more positively over the
coming years with the handsome amount of investment by the coming investors and
existing players in the weaker sectors of the market for improving them more
significantly.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
