Outdoor LED Market in India to grow by USD 267.08 million from 2021 to 2026 | Growth driven by the growing demand for LED lighting for different applications - Technavio

NEW YORK, Aug. 24, 2023 /PRNewswire/ -- The outdoor LED market in India is set to grow by USD 267.08 million from 2021 to 2026. However, the growth momentum will be progressing at a CAGR of 12.71% during the forecast period, according to Technavio. The outdoor LED market in India is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Bajaj Electricals Ltd., ERCO GmbH, Eveready Industries India Ltd., Havells India Ltd., Koninklijke Philips NV, Orient Electric Ltd., Panasonic Corp., Surya Roshni Ltd., Syska Led Lights Pvt. Ltd., and Wipro Ltd. are some of the major market participants -. To know about the vendor offerings - Request a sample report

The outdoor LED market in India is fragmented, and the degree of fragmentation will accelerate. The growing demand for LED lighting for different applications will offer immense growth opportunities. However, the threats associated with counterfeit products will hamper the market growth.

Outdoor LED Market in India 2022-2026: Drivers & Challenges

One of the key drivers supporting the outdoor LED market growth in India is the growing demand for LED lighting for different applications. Because of increasing awareness of green technology and decreasing prices of LEDs, manufacturers of lighting products have started emphasizing energy-efficient and environment-friendly lighting solutions. The steady decline in the average selling price (ASP) of LED products is anticipated to have a positive influence on its penetration and market size, both in the residential and commercial sectors. The outdoor LED market in India also has a considerable number of LED product manufacturers like Havells India Ltd, SH Group, Inc, and Koninklijke Philips N.V. Such factors are anticipated to drive the growth of the outdoor LED market in India during the forecast period.

Threats associated with counterfeit products are the significant challenge hindering the outdoor LED market growth in India. 

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Outdoor LED Market in India 2022-2026: Segment Analysis

• Application 
• Billboards
• Video Walls
• Perimeter LED Boards
• LED Matrix Board
• Others
• Distribution channel 
• Offline
• Online

Outdoor LED Market in India 2022-2026: Segmentation Highlights

This report extensively covers the outdoor LED market in India segmentation by application (billboards, video walls, perimeter LED boards, LED matrix board, and others) and distribution channel (offline and online). 

• The outdoor LED market share growth in India by the offline segment will be significant during the forecast period. Through offline distribution channels, outdoor LED product is largely sold which contain various retail formats such as specialty stores, hypermarkets, convenience stores, and departmental stores. Customers prefer purchasing outdoor LED products from retail stores as they deliver a broad range of products and provide essential support and information through expert customer service personnel. Such growing preferences will have a positive impact, this in turn drives the market growth during the forecast period.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

Outdoor LED Market in India 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist outdoor LED market in India growth during the next five years
• Estimation of the outdoor LED market in India size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behaviour
• The growth of the outdoor LED market in India across APAC, North America, Europe, South America, and MEA
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of outdoor LED market in India vendors

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Distribution channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio