The market size of Indian LED industry will reach Rs 21,600 crore by 2020, which will constitute 60 per cent of the total segment.
As projected, the turnover of Indian lighting industry by 2020 will be Rs 35,000 crore.
The milestone will be achieved by government’s renovated proposal to use LEDs for all street lamps and public spaces.
The LED industry in India was lingering at Rs 1,925 crore whereas the aggregate turnover in 2013 was Rs 13,000.
In 2012, the LED light source market generated about US$ 100 million.
Till a year ago, LEDs remained a minority in the Indian market with only three to five percent market share.
In 2009, India introduced a plan to replace 4 million incandescent bulbs with CFL by 2012.
By 2013, Tamil Nadu announced a proposal of replacing 200,000 fluorescent tube lights with LEDs.
The market is expected to grow further on the pretext of Narendra Modi-led government’s constant efforts to promote LED deployment in the country to achieve sustainable goals.
Moreover, the ‘Make in India’ drive launched by government has to an extent boosted up the LED industry in India.
Major Indian players in the market have already escalated the production capacity of LED bulbs, down-lighters and street lights in their plant.
The Indian market is mainly driven by government strategies. Right now, the streetlight market is benefiting from lighting overhaul in cities of old lights to LED.
However, the commercial lighting segment prefers industrial lighting and down lighters, with more and more Indian consumers shifting towards it.
Sabeena Wahid
editor@greentechlead.com