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Indian LED lighting market to reach 1.715 bn by 2020

Indian LED lighting market to reach 1.715 bn by 2020

By BizLED Bureau

Aug 15, 2016: The lighting market in India has emerged as one of promising segments, and in particular LED lighting market is likely to expand by 47.1% year on year in 2016 to $1.14 billion, according to industry analysts.  Furthermore, the analysts have projected that the market reaches $1.715 billion by 2020. As a market with enormous potential, India attracts worldwide venture to take it as the next manufacturing support. Besides low tariff policies based on the preferred market access policy, other benefits of Indian market also pull investors.  In addition, the government is looking forward to establish India as a hub of lighting products across East Asia and nations along the coast

International firms such as Osram and Toshiba have manufacturing unit in India. The nation’s domestic and overseas LED lighting demands are both high.  Even though, the Indian LED market is still in its early stage,, it has immense opportunities such as zero tariff in Indian market, rising internal demand and promotion of Make in India. The  LED products driven by high performance which include

Bulb- With regards to specifications,, the bulb market in India is divided into two main categories, which includes 200lm to 950lm and 1,200lm to 1,800lm with costs individually ranging from USD 2 to USD 6 and USD 4.5 to USD 10. India-based manufacturers offer LED bulb at 100lm/W. Apart from considering diverse lumen per watt performance, products with high performance-price ratio is also a benefit of entering the Indian LED bulb market.

READ ALSO: Indian LED lighting market to expand by 47.1 in 2016

Streetlight- The chief specifications of Indian streetlight market mostly consist of products that offer 100lm/W at a range of color temperature from 4,000K to 6,500K, 70 CRI and IP 65 and above. The domestic manufacturers mostly offer LED streetlights with wide voltage range at 90W and below. In order to better enlarge the market presence of products, manufacturers should look after the demand by tailoring streetlights for bidding and tenders.

 Impact of engineering project and luminaire market

Choosing appropriate distribution channels is an important factor when penetrating into the market. Among main lighting distribution channels in India, engineering project accounts for the maximum share and luminaire market accounts for a greater percentage in sales of LED products. The allotment channel covers whole product types whilst offering wide-ranging brands at an extensive price range. Over the past few years,  a number of Chinese lighting products can be found in Indian light market Besides, due to the particularity of retail business in India, lighting channels with unique local feature also exist in the market. Manufacturers should consider the feasibility and impact of these channels, so as to distribute more precisely in the local lighting market.

Indian LED lighting market to reach 1.715 bn by 2020

At a time when the Indian LED market is lacking upstream and midstream industry chain, and global manufacturers are entering Indian LED market, Indian market is sensitive to price, so the large enterprises with cost advantage are more suitable to enter. In addition, to respond to government policy and meet enormous LED demand, Indian conventional lighting ventures are upgrading, and the domestic manufacturers who own big production base, are looking forward to bring great business opportunity for LED equipment manufacturers.

READ ALSO: 3 Indian LED products to watch out in 2016

There are a few local lighting manufacturers with considerable scale in terms of downstream lighting market. The government offers enormous support to such manufacturers in policy and market opportunity. Besides local manufacturers, the global makers such as Philips, Osram and Panasonic have entered Indian market for a long time. However, manufacturers need to concentrate on strategy analysis of entering Indian market from planned choice, government relations strategy, channel strategy and product strategy, and figure out their own position, so as to productively seize market share in the capable lighting market of India.

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