India LED Lighting Market Outlook to 2019

PITAM PURA, India - Feb. 20, 2015 - PRLog -- The total sales volume of LED lights in the country is composed of domestically manufactured and imported LED lights. The Indian LED market has been traditionally dominated by imports of LED lights from countries such as China, Taiwan and Korea among others. The imports market for LED lighting in India has been dominant primarily due to the low price of imported products. Additionally, the absence of national standards for LED lights has allowed the unorganized sector to thrive in India.

However, many domestic and international companies have identified India’s immense potential in the LED segment. As a result, most major players in the Indian LED market have set up domestic manufacturing/assembling plants in an attempt to meet the surging demand for LED lights in the country.

Despite the presence of domestic manufacturing facilities, a major chunk of the demand for LED lights is met by imports. The low quality of these imports is one of the biggest hindrances in the growth of the Indian LED lighting market.

In FY’2010, total domestic production of LED lights amounted to ~ million units whereas the total imports of LED lights were ~ million units in the same year. The higher level of imports in FY’2010 can be attributed to lack of domestic manufacturing facilities coupled with alluring prices of imported LED lights.

In FY’2014, the domestic production of LED lights inclined to ~ million units thereby displaying annual growth of ~%. The import of LED lights amounted to ~ million units in the same year, thereby exhibiting annual growth of 35%.

A number of LED exhibitions have also been held in the country ever since the advent of LED lights. For instance, LED Expo takes place twice a year in metropolitan cities such as New Delhi and Mumbai.

The Indian LED market is poised to grow at an unprecedented rate in the upcoming years. The revenue generated from sale of LED lights is expected to incline to INR ~ million in FY’2015. It would further increase to INR ~ million in FY’2016 thereby displaying annual growth of ~%.

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