India LED lighting market to worth $1.7 Billion by 2020
One of the most favorable sectors to have materialized from the lighting market is India. It is stated by industry experts that the market for LED lighting will likely expand in 2016 by 47.1% to $1.4 billion and every year after that. Also, experts have also predicted that by the year 2020, the market will have reached $1.715 billion. India attracts global ventures with its vast market potential, as the succeeding support for manufacturing. As well as cheap pricing policies which are created from the favored market access policy, there are added benefits in the Indian market which appeal to investors. The Indian government is keen to establish the country as the center of lighting products throughout East Asia and other nations along the coast.
International companies like Toshiba and Osram have an established production unit located in India. India’s domestic LED lighting and overseas demands are extremely high. Although the LED market in India is in its infancy, there are still some fantastic opportunities, for example, zero cost, which elevates the country’s demand but also promotes Make in India. High performance is what drives LED products, and these include:
Bulbs – The light bulb market throughout India is split into two principle categories as regards to their specification, these are 200lm-950lm and 1,200lm-1,800lm, and the costs of these individually can range from $2USD-$6USD and $4.5USD-$10USD. LED bulbs are offered from manufacturers in India at 100lm/W. In addition to consideration of varied lumen per watt performances, those products with a high-performance cost ratio are just another benefit of going into the LED bulb market in India.
Streetlights – The key requirements for the streetlight market in India comprises those products which offer 100lm/W within a scope of color temperatures between 4,000k-6,500k, 70 CRI (color rendering index) and 65 IP (ingress protection) and higher. Domestic manufacturers offer LED streetlights with a comprehensive electrical energy range of 90W and lower. To broaden the presence of products in the market, manufacturers should keep up with demand by modifying streetlights for tenders and bidding.
The Indian LED market is highly sensitive to price, at the time when global manufacturers are entering the market, and it lacks upstream and mid-stream industry chains, making it more suitable for bigger companies to enter with their pricing advantages. In an effort to respond to the government policies and LED demands, conventional lighting schemes are upgrading, and domestic lighting manufacturers with huge production lines are excited about bringing a larger business opportunity to LED equipment industrialists.