NEW YORK, Oct. 7 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
The study provides an in-depth coverage of the LED lighting market in India by product and application segments. Key trends across applications have been analysed. This study also analyses the market opportunities in India for LED lighting to an extent to provide strategic recommendations based on findings from the electronics manufacturing industry. Analysis includes identifying the key challenges, drivers and restraints for LED lighting penetration, profiling the key participants, forecasting revenue growth and competitive analysis of the market.
In 2008, the global lighting market witnessed a significant slowdown in demand for LEDs and a consequent drop in LED prices owing to the global financial crisis and economic recession. In 2009, demand for LEDs increased significantly due to their applications in camera flash, automotive, lighting and mobile devices. This is expected to increase demand manifold in the global LED lighting market. As India is emerging as a key market for LED TVs and other portable consumer electronics devices, LEDs' demand is expected to increase manifold in the coming years.
Lighting fixture and luminaire manufacturers are expected to demand greater energy efficiencies from LED-based lighting sources in 2010. Many countries have banned incandescent light bulbs owing to their low efficiency, while increasing the energy- efficiency requirements for modern lighting technologies, including LEDs. Thus, LED manufacturers are expected to invest more in increasing efficiencies for LED light sources. Furthermore, an increase in efficiency is also expected to translate into cheaper lighting expenditure. India, being a price sensitive market, will witness a significant increase in penetration, as LED lamp prices go down the price ladder.
Lighting brands are also expected to push for greater end-to-end manufacturing of LED lighting solutions. This will involve streamlining the manufacturing process by integrating LED- based light with drive electronics, optics and thermal considerations. LED luminaire manufacturers currently purchase light sources, drive electronics, and fixtures from multiple vendors or from their own vertical in-house divisions. As this adds to the cost, design complexity, and risk for lighting manufacturers, luminaire manufacturers are exploring options of designing and producing the fixture, as well as procuring the ballast and light sources which are then assembled in-house. India, which has witnessed the advent of many key international lighting brands, is expected to witness an increase in localisation of content, with many key luminaire manufacturers setting up luminaire assembly facilities in the country to achieve cost- competitiveness in the Indian market.
LED lighting is expected to witness significant penetration in commercial applications worldwide. The key driving factor is expected to be the quick ROI that LED lighting provides in lighting applications requiring a continuous operational time of over 16 hours per day. The energy savings alone account for significant cost savings. When coupled with lower maintenance costs, this offers scope for achieving an ROI in lesser than two years in commercial applications.
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