LED Lighting Market in India set for BIG growth!
23rd February, 2015
By Richard Wilson
The LED lighting market in India is projected to reach $2.2bn by 2021, according to market analyst 6Wresearch.
LED lighting market in India is in its early growth stage but is expected to be driven by government initiatives to replace incandescent bulbs with LED bulbs in streetlight application.
There are also government initiatives to promote domestic manufacturing, prices are expected to decline further, thus boosting the growth of the market.
In 2015, the Government of India announced the distribution of LED bulbs at subsidized rate to drive the adoption.
Several LED street-lighting pilot projects are under process or in planned phase, where traditional streetlights would be replaced by LED bulbs. Chandigarh, Delhi, West Bengal, Maharashtra, Andhra Pradesh, Gujarat, Uttrakhand, and Punjab are some of the states where such initiatives have been taken.
The main suppliers are Philips, Syska, Havells, GE and Osram.