Research and Markets: The Market for Lighting Sources in India Expected to Grow at a CAGR of 28% over the Next Five Years Says Latest Report
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/skpfrw/india_lighting) has announced the addition of the "India Lighting Source Market Forecast & Opportunities, 2018" report to their offering.
“India Lighting Source Market Forecast & Opportunities, 2018”
The construction activities aimed at improving the infrastructure and real estate sectors are increasing rapidly. This is directly contributing to the demand for lighting source across the country. In addition, the growing automotive market and increasing penetration of high end lighting products are also contributing to the industry growth. The market for lighting sources can be divided on the basis of its technology. Traditional technology includes Incandescent lamps, Fluorescent lamp tubes, Compact fluorescent lamps and special lamps, whereas, modern lighting source technologies include LEDs. Even though the market is dominated by incandescent lamps, its share in the lighting source industry is likely to reduce in the near future as a result of increasing awareness regarding more energy efficient alternatives such as CFLs. The Indian lighting source market is dominated by brands like Philips, Surya, Crompton greaves, Wipro and Bajaj Electricals. Philips is the market leader accounting for a majority share.
According to India Lighting Source Market Forecast & Opportunities, 2018, the market for lighting sources is likely to be benefitted by the phase out of incandescent bulbs under the Bachat Lamp Yojna carried out by Bureau of Energy Efficiency; Ministry of Power as the phase out will drive the growth for LEDs and CFLs. The market for lighting sources in India is expected to grow at a CAGR of 28% over the next five years. The low penetration of LEDs in India holds ample opportunities for the manufacturers to tap this nascent market. With growing number of households in India along with increasing income, the market for lighting source is poised for growth. The average prices of LEDs are expected to decline which will boost its market share over the coming years.
- Anchor Electricals Pvt. Ltd.
- Bajaj Electricals Ltd.
- Crompton Greaves Ltd.
- Halonix Limited
- Havells India Limited
- LG Lighting
- Osram India Pvt. Ltd.
- Philips India Limited
- Surya Roshini India Limited
- Wipro Limited
For more information visit http://www.researchandmarkets.com/research/skpfrw/india_lighting
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