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led lighting market in india to grow at 30% till 2021

by:Demo     2020-08-26
Government initiatives are increasing, customer awareness of lower power consumption of LED lighting products is increasing, and driving LED lighting sales to innovative products by 2021.
India is the second most populous country in the world and the fifth largest consumer of electricity. supply gap.
Therefore, the use of energy-saving products such as LED lighting products is expected to grow in the next few years.
In addition, the government\'s support for innovative LED lighting products and the introduction of manufacturers have increased the price of these products, thus providing consumers with more choices according to their needs and preferences.
According to the TechSci Research report, the company\'s compound annual growth rate is expected to exceed 30% in 2016.
2021, due to the increase in personal disposable income, more and more government initiatives to encourage the use of LED lights, and more attention to smart city projects.
Delhi, for example-
Mumbai industrial corridor developmentDMICDC)
Announced plans to develop 7 smart cities in Gujarat, Haryana, Maharashtra, Rajasthan, Rajasthan, Uttar Pradesh and Madhya Pradesh in the near future.
It is expected that these projects will further strengthen the government\'s emphasis on energy-saving lighting products such as led in the next few years.
Preferential government initiatives and policies, such as country-specific and country-level projects, provide LED lighting products at subsidized prices, making a huge contribution in promoting domestic LED applications.
In addition, the demand for LED lights in the country\'s residential and commercial sectors is growing rapidly as consumer awareness increases.
LED lighting is becoming more and more widely used in residential areas, which can be attributed to the low power consumption and long product life cycle of these lighting solutions.
In 2015, outdoor lighting applications received a revenue share of more than 60% in India, and this trend is expected to continue until 2021.
Philips, Surya Roshni, Havells, Syska and Osram are among the few leading companies in the LED lighting market in India.
Due to higher literacy rates, higher levels of disposable income and increased awareness of the benefits of LED lighting products, LED lighting products adoption has reached the highest record in southern and northern states.
The country\'s growing urban population, which accounted for 31% of the total population in 2011 and rose to more than 33% in 2015, is expected to further boost demand over the next five years.
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