LONDON, Dec. 23, 2015 /PRNewswire/ -- Transforming Energy Dynamics through Sustainable LED Lighting : Understanding the Paradigm of Energy-efficient LED Lighting Along With Mega Trends
Overview of the Indian LED Lighting Market Indian LED Lighting Market
Size and Segmentation
Over the last years, India's population has grown at an unprecedented rate. The consequent growth of cities and the increasing urbanization rate in particular have served to greatly impact the usage of resources, especially energy. Cities, on an average, consume around % of the total energy in a country of which % goes towards lighting. Thus, lighting sources, systems, and technologies need to be all the more efficient. Merited as the most energy-efficient in comparison to other efficient lighting technologies such as Compact Fluorescent Lamps (CFLs) and fluorescent lights, the Light Emitting Diode (LED) lighting technology has the potential to change the dynamics of the lighting industry worldwide. The fundamental difference and advantage of LED over existing lighting technologies presents the greatest potential to accelerate the energy savings initiation in the years to come.
The Indian LED lighting market clocked a revenue of around INR million in 2014 having grown by % over the previous year. As energy conservation is back in focus, there has been a considerable demand from the street lighting segment, which was the largest contributor to the overall market revenue in 2014, for energy efficient lighting. Likewise, demand from railways, government buildings, and public infrastructure also grew at a healthy rate and is expected to exhibit a robust growth.
Greater aesthetics and lower energy bills have made LED lights a popular choice in the commercial and industrial segments, where lights are kept switched on 24/7. Present day office buildings, hotels, restaurants, airports, retail outlets, and so on are designed aesthetically and LED lighting adds a differentiating element to their façade and interiors.
Lighting consultants and architects prefer using LEDs for decorative and functional architectural lightings, as LEDs are unidirectional and can be focused to highlight only a select area in an object. LEDs are increasingly being used in vehicles; from exterior headlamps to backlit panels, LEDs have allowed automakers to design lighting to make vehicles more appealing. Growing media promotion, awareness programs, and distribution of LED lamps to retail customers at discounted prices have led to a marked rise in the adoption of LEDs among residential users in recent months.
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