According to the report by Expert Market Research (EMR), the India lighting market reached a value of nearly USD 3.79 billion in 2023. Aided by technological developments and rapid urbanisation, the market is projected to grow at a CAGR of 9.8% between 2024 and 2032 to reach a value of around USD 8.79 billion by 2032.
Lighting solutions in India have evolved beyond mere functionality to become integral components of urban and rural development. The government’s push towards smart cities and energy-efficient lighting solutions, coupled with the public’s growing environmental awareness, are major drivers for the India lighting market.
Programmes such as the UJALA scheme, aimed at promoting LED lighting, have significantly reduced the costs associated with energy consumption in lighting, thereby fostering the market growth. Innovations in LED technology and smart lighting solutions, which offer enhanced energy efficiency and connectivity for smart homes and cities, are further accelerating the India lighting market expansion.
Rapid urbanisation and the subsequent need for robust infrastructure have led to increased demand for advanced lighting systems across residential, commercial, and industrial sectors. Besides, there is a rising awareness among consumers regarding the benefits of energy-efficient lighting solutions, which is influencing purchasing decisions and driving the adoption of LED lighting products.
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The western region, particularly states like Maharashtra and Gujarat, leads the India lighting market share due to extensive industrial and commercial activities that demand advanced lighting solutions. However, South India is experiencing rapid growth, propelled by increasing urban development and industrial investments.
While the market is poised for growth, it faces challenges such as the high initial cost of installation for advanced lighting systems and the need for widespread consumer education on the benefits of energy-efficient lighting. However, the ongoing governmental support and the shift towards sustainable development present significant opportunities for market players.
As the Internet of Things (IoT) becomes more prevalent, smart lighting systems that can be controlled via smartphones and integrated with other home automation systems are gaining popularity. These systems offer convenience and energy efficiency, attracting a tech-savvy consumer base. This is one of the key India lighting market trends.
With increasing environmental concerns, the market is witnessing a shift towards green lighting solutions. This includes the use of materials that are more environmentally friendly, and systems designed to reduce light pollution. This is expected to aid the India lighting market growth.
To capitalise on these opportunities, companies are investing heavily in research and development to stay at the forefront of technology. Mergers and acquisitions are also a strategic approach for expanding the market reach and enhancing technological capabilities. For instance, larger firms are acquiring startups that offer innovative lighting solutions to broaden their product lines and incorporate advanced technologies.
The Indian government continues to play a crucial role in shaping the market dynamics through various regulatory and policy measures. Policies aimed at phasing out inefficient lighting technologies and subsidies for energy-efficient solutions are instrumental in driving the adoption of newer technologies. Additionally, the government’s focus on rural electrification has opened new avenues for market expansion into previously untapped regions. This is expected to accelerate the India lighting market development.
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The India lighting market is set to transform the way lighting is perceived, moving beyond illumination to become a crucial part of sustainable urban development and smart living. As the market continues to grow, it offers a plethora of opportunities for investors, manufacturers, and other stakeholders to innovate and expand their presence in a rapidly evolving landscape.
Market Segmentation
The market can be divided based on light type, product, distribution channels, and end use.
Market Breakup by Light Type
- LEDs
- CFLs
- HIDs and Halogens
- Incandescent
- Others
Market Breakup by Product
- Bulbs
- Streetlights
- Downlights
- Tube Lights
- Flood Lights
- Others
Market Breakup by Distribution Channels
- B2B
- B2C
Market Breakup by End Use
- Industrial
- Offices
- Government Buildings
- Private Buildings
- Hospitals
- Outdoor
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India lighting market. Some of the major players explored in the report by Expert Market Research are as follows:
- Signify Holding
- Wipro Enterprises Limited
- OSRAM GmbH
- Bajaj Electricals Ltd
- Havells India Ltd
- Surya Roshni Limited
- Syska Led Lights Pvt Ltd
- Others
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