India Lighting Market: Increasing consumer awareness about energy efficiency to boost market growth

The India Lighting Market size was valued at USD 3864.80 Million in 2023 and the total India Lighting Market revenue is expected to grow at a CAGR of 7.1 % from 2024 to 2030, reaching nearly USD 6246.74 Million by 2030.

India Lighting Market Overview

Lighting is intentional use of light to achieve practical or aesthetic effects. It is a critical component in various fields, including interior design, architecture, theater, photography, and cinematography, influencing the functionality, ambiance, and mood of a space or scene. The India lighting market has seen significant growth and transformation in recent years, driven by technological advancements, government initiatives, and increasing consumer awareness about energy efficiency. India Lighting MarketTo know about the Research Methodology :- Request Free Sample Report Energy Efficiency Services Limited (EESL), a Super Energy Service Company (ESCO), empowers consumers, industries, and governments to manage their energy needs through advanced energy-efficient technologies. EESL is spearheading the world's largest energy efficiency initiatives across various sectors, including lighting, buildings, industrial operations, electric mobility, smart metering, and agriculture. Their efforts have resulted in annual energy savings of over 47 billion kWh for India, simultaneously reducing carbon emissions by 36.5 million tons. Established in 2009, EESL was created by the Ministry of Power, Government of India, as a joint venture among four prominent public-sector enterprises: NTPC Limited, Power Finance Corporation Limited, REC Limited, and POWERGRID Corporation of India Limited. EESL is dedicated to innovative, solution-driven approaches without relying on government subsidies.

India Lighting Market Dynamics

Long lamp life & eco-friendly technology to boost India Lighting Market growth LED lights have been rising at such a giant rate all over the world. In realism, LED lighting has massive potential in the country due to power deficiencies & high electricity charges. India fights to meet the growing electricity demand with its excellent development in the economy leading to build more power plants for supporting the advanced electricity demand of its extensively rising population. With the major advantage of energy saving, long lamp life & eco-friendly technology, LEDs particularly lessen the lighting load, highest demand & complete energy consumption of the country, even without negotiating on the environment & safety. As country has been stated as one of the polluted nations in the world, such environment friendly feature of LED lighting certainly add more strength to the upcoming development of Indian LED light sector. As such, use of energy efficient items like LED lighting products is expected to raise during the forecast period, which is expected to boost the India Lighting Market growth. Increasing government help & introduction of new LED lighting items by companies has caused in reduction in costs of these items, thereby, proposing customers with more choices to select from, according to their requirements & preferences. Increasing government initiatives, growing awareness among consumers regarding lower power consumption of LED lighting items, & inventive items offerings to push lighting sales. The Unnat Jyoti by Affordable LEDs for All (UJALA) scheme has been a major driver, promoting the use of LED bulbs to replace incandescent bulbs. Growing awareness about the benefits of energy-efficient lighting solutions is driving the shift from traditional lighting to LED and smart lighting. LEDs dominate the India Lighting market due to their energy efficiency, longer lifespan, and declining prices. The market is expected to continue its robust growth, driven by ongoing government initiatives, increasing urbanization, and the rising adoption of smart lighting solutions. High Initial Cost to limit India Lighting Market growth LED lights offer long-term savings, their higher initial cost compared to traditional lighting solutions is a deterrent for widespread adoption, particularly in price-sensitive rural and low-income urban areas. Advanced lighting systems with IoT integration and smart features require substantial upfront investment, which is prohibitive for many municipalities and small businesses. In many parts of India, especially rural areas, the electric grid is unreliable. Frequent power outages undermine the effectiveness of energy-efficient lighting systems and discourage investment, which significantly restraints the India Lighting Market growth. The lack of stringent standards and quality control measures lead to the proliferation of substandard products in the market. This affects consumer confidence but also impacts the overall performance and longevity of lighting solutions. The Indian lighting market comprises numerous small and medium enterprises (SMEs) alongside large multinational companies. This fragmentation lead to uneven quality and pricing, complicating consumer choices. Intense competition, especially in the LED segment, lead to aggressive pricing strategies that compromise product quality and sustainability.

India Lighting Market Segment Analysis

Based on Interior, the market is segmented into Tube light, Bulbs, Surface Light, Down Light, LED Strip Light, and Architecture Light. Bulbs segment dominated the market in 2023 and is expected to hold the largest India Lighting Market share over the forecast period. The most rapidly growing segment, driven by their energy efficiency, longer lifespan, and decreasing prices. Government initiatives like the UJALA scheme (Unnat Jyoti by Affordable LEDs for All) have massively promoted the adoption of LED bulbs, making them increasingly prevalent in Indian households and businesses. Increasing consumer awareness about energy conservation and cost savings has driven a significant shift from incandescent and CFL bulbs to LEDs, which significantly boosts the India Lighting Market growth. The widespread adoption of energy-efficient bulbs has led to a significant reduction in energy consumption and, consequently, carbon emissions. Based on Exterior, the market is segmented into Street Light, Bay Light, and High Mast Light. Street Light segment dominated the market in 2023 and is expected to hold the largest India Lighting Market share over the forecast period. LED street lights are favored for their energy efficiency, long lifespan, and reduced maintenance costs. They have rapidly replaced traditional lighting solutions. LED street lights consume significantly less power compared to conventional lighting, resulting in substantial energy savings for municipalities. Reduced energy consumption leads to lower greenhouse gas emissions, contributing to environmental sustainability. India Lighting Market

India Lighting Market Scope: Inquire before buying

India Lighting Market
Report Coverage Details
Base Year: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: US $ 3864.80 Mn.
Forecast Period 2024 to 2030 CAGR: 7.1% Market Size in 2030: US $ 6246.74 Mn.
Segments Covered: by Interior Tube light Bulbs Surface Light Down Light LED Strip Light Architecture Light
by Exterior Street Light Bay Light High Mast Light
Leading India Lighting Manufacturers include: 1. Wipro Ltd 2. MIC Electronics Ltd 3. Avni Energy Solutions Pvt Ltd 4. VIN Semiconductors Pvt Ltd 5. Bajaj Electricals Ltd 6. Havells India Ltd 7. MIRC Electronics Ltd 8. Philips Electronics India Ltd 9. Osram India Pvt Ltd 10. Surya Roshni Ltd. 11. Polycab 12. Crompton 13. Halonix Leading India Lighting Contract Manufacturers include: 1. Radhika 2. Dickson 3. Starlights Nashik 4. Urvi Frequently asked Questions: 1. How has the Indian lighting market transformed in recent years? Ans: The Indian lighting market has seen significant growth due to technological advancements, government initiatives, and increased consumer awareness about energy efficiency. 2. What role does Energy Efficiency Services Limited (EESL) play in the lighting market? Ans: EESL is a Super Energy Service Company that promotes energy-efficient technologies across various sectors, including lighting. Their initiatives have resulted in substantial energy savings and reduced carbon emissions. 3. How do government initiatives like the UJALA scheme impact the lighting market? Ans: The UJALA scheme promotes the use of LED bulbs, replacing incandescent bulbs and driving the shift towards energy-efficient lighting solutions, significantly contributing to market growth. 4. What segments dominate the Indian lighting market? Ans: The bulbs segment, driven by energy efficiency and declining prices, dominates the interior lighting market. The street light segment, with its emphasis on LED street lights, leads the exterior lighting market. 5. What future trends are expected in the Indian lighting market? Ans: Continued robust growth is expected, driven by ongoing government initiatives, increasing urbanization, and the rising adoption of smart lighting solutions.
1. India Lighting Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Global India Lighting Market: Competitive Landscape 2.1. MMR Competition Matrix 2.2. Competitive Landscape 2.3. Key Players Benchmarking 2.3.1. Company Name 2.3.2. Product Segment 2.3.3. End-user Segment 2.3.4. Revenue (2023) 2.3.5. Company Locations 2.4. Market Structure 2.4.1. Market Leaders 2.4.2. Market Followers 2.4.3. Emerging Players 2.5. Mergers and Acquisitions Details 3. India Lighting Market: Dynamics 3.1. India Lighting Market Trends 3.2. India Lighting Market Dynamics 3.2.1. India Lighting Market Drivers 3.2.2. India Lighting Market Restraints 3.2.3. India Lighting Market Opportunities 3.2.4. India Lighting Market Challenges 3.3. PORTER’s Five Forces Analysis 3.4. PESTLE Analysis 3.5. Value Chain Analysis 3.6. Technological Roadmap – By Industries 3.7. Government Guidelines and Industry Initiatives 3.8. Role of India Lighting Industry 3.9. Regulatory Landscape by Region 3.10. Key Opinion Leader Analysis for India Lighting Industry 4. India Lighting Market: Market Size and Forecast by Segmentation (by Value) (2023-2030) 4.1. India Lighting Market Size and Forecast, By Interior (2023-2030) 4.1.1. Tube light 4.1.2. Bulbs 4.1.3. Surface Light 4.1.4. Down Light 4.1.5. LED Strip Light 4.1.6. Architecture Light 4.2. India Lighting Market Size and Forecast, by Exterior (2023-2030) 4.2.1. Street Light 4.2.2. Bay Light 4.2.3. High Mast Light 5. Company Profile: Key Players 5.1. Wipro Ltd 5.1.1. Company Overview 5.1.2. Business Portfolio 5.1.3. Financial Overview 5.1.4. SWOT Analysis 5.1.5. Strategic Analysis 5.1.6. Recent Developments 5.2. MIC Electronics Ltd 5.3. Avni Energy Solutions Pvt Ltd 5.4. VIN Semiconductors Pvt Ltd 5.5. Bajaj Electricals Ltd 5.6. Havells India Ltd 5.7. MIRC Electronics Ltd 5.8. Philips Electronics India Ltd 5.9. Osram India Pvt Ltd 5.10. Surya Roshni Ltd. 5.11. Polycab 5.12. Crompton 5.13. Halonix 5.14. Radhika 5.15. Dickson 5.16. Starlights Nashik 5.17. Urvi 6. Key Findings and Analyst Recommendations 7. India Lighting Market: Research Methodology