India Indoor LED Lighting Market Size
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 3.03 Billion |
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Market Size (2030) | USD 4.27 Billion |
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Largest Share by Indoor Lighting | Industrial and Warehouse |
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CAGR (2024 - 2030) | 5.90 % |
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Fastest Growing by Indoor Lighting | Agricultural Lighting |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Indoor LED Lighting Market Analysis
The India Indoor LED Lighting Market size is estimated at 3.03 billion USD in 2024, and is expected to reach 4.27 billion USD by 2030, growing at a CAGR of 5.90% during the forecast period (2024-2030).
3.03 Billion
Market Size in 2024 (USD)
4.27 Billion
Market Size in 2030 (USD)
4.39 %
CAGR (2017-2023)
5.90 %
CAGR (2024-2030)
Largest Segment by Indoor Lighting
58.01 %
value share, Industrial and Warehouse, 2023
Annual exports of USD 447.46 billion were recorded, with 6.03% growth, during FY23, surpassing the previous year's record exports of USD 422 billion.
Largest Segment by Commercial
56.65 %
value share, Office, 2023
India's startup boom contributed significantly to the development of the commercial real estate market zone, leading to a dramatic increase in the absorption rate of office space.
Fastest-growing Segment by Indoor Lighting
7.19 %
Projected CAGR, Agricultural Lighting, 2024-2030
The increasing investments and new government initiatives in horticulture and vertical farming will promote agriculture and lighting in the coming years.
Fastest-growing Segment by Commercial
4.12 %
Projected CAGR, Office, 2024-2030
The foreign investments in the office sector increased to USD 10.3 billion during 2017-2021, compared to USD 3.2 billion in the preceding five-year period.
Leading Market Player
2.64 %
market share, Surya Roshni Limited, 2022
Surya Roshni Limited holds the majority of the market share in India. LED revenue grew by 29% and 48% Y-o-Y during Q2 of FY23 and H1 of FY23, respectively, backed by value-added products like LED battens and downlighters.
Increasing development in the industrial sector and increase in the number of residential houses to drive the growth of the LED lighting market
- In terms of value share, industrial and warehouse will have the largest share (58%) in 2023, followed by residential (24.4%), commercial (15.2%) and agricultural lighting (2%). India is on track to become a major manufacturing hub in the world, with the ability to export USD 1 trillion worth of goods by 2030. Further, the implementation of various programs and policies, such as the National Manufacturing Policy, which aims to increase the manufacturing share of GDP to 25% by 2025. The effort is aimed at further accelerating the development of the core manufacturing industry. Demand for industrial lighting has grown steadily in warehousing, logistics, and industrial operations. For example, the Warehousing, Industry, and Logistics (WIL) sector is expected to be crucial to realizing India's vision of becoming a USD 5 trillion economy by FY2025. These factors are increasing sales of LED lighting in domestic warehouses and industries.
- In terms of volume share, residential lighting will have the largest share (68%) in 2023, followed by commercial (28.4%), industrial and warehouse lighting (2%), and agricultural lighting (2%). The average household size, including all registrants nationwide, in 2022 was 4.4, leading to an increase in private households and homeowners. Over 50% of people in India live in their own homes, nearly 30% live in rented houses, and 13% live in their parents' homes. In addition, the Indian real estate sector has recently experienced significant growth due to increased demand for office and residential space. Home sales in seven Indian cities increased by 29% in Q4 FY2021, with new listings up 51% compared to Q4 FY2020. These developments cater to the need for LED lights in houses.
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India Indoor LED Lighting Market Trends
Increasing nuclear families, urbanization, and increasing per capita income are driving the growth of the housing sector
- The average household size in India in 2014 was 4.8 people per household. In many states and union territories, more people live in rural households than in urban households. The average household size, including all registered households, was 4.4 by 2022, which resulted in increased private household/own housing ownership. More than 50% of people in India live in their own houses, while almost 30% live on a rental basis and 13% in their parents’ houses. A large share of the total urban population are migrants. The increase in the number of migrants is expected to create LED penetration in the country to meet the need for illumination.
- In India, disposable income is growing, resulting in the rising spending power of individuals and spending on new residential spaces. India’s per capita income reached USD 2,301.4 in March 2022, compared to 1,971.6 USD in March 2021. Compared to some developing nations, India’s per capita income is less. For instance, in 2022, Japan’s per capita income was USD 33,911.2, Vietnam's was USD 3,716.8, and China’s was USD 12,732.5. This suggests that the purchasing power of individuals in India may be lower than those of other nations.
- The Indian real estate sector has witnessed high growth in recent times with a rise in demand for office as well as residential spaces. Housing sales in seven Indian cities increased by 29% and new launches by 51% in Q4 FY21 over Q4 FY20. The government introduced a few energy-saving schemes. The Power Ministry distributed 36.78 crore LED lights under the Unnat Jyoti by Affordable LEDs for All (UJALA) program in seven years, which saved 47,778 million units of electricity per annum. The program was launched on January 05, 2015. Such instances are further expected to raise the demand for LED lighting in the country.
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Increasing FDI and emphasis on efficient lighting is pushing the implementation of LEDs
- In 2021, the industrial sector consumed 41% of all energy, followed by the household sector (26%) and the commercial sector (8%). Additionally, the construction sector is expanding quickly. In March 2021, the Parliament approved allowing 100% FDI in India's construction sector through the automatic route for the operation and management of townships, malls/shopping centers, and commercial buildings. This suggests that more buildings will be built, raising the need for LEDs.
- Electricity demand in the commercial sector tends to be around 11-13 hours. Electricity use in the industrial sector tends not to fluctuate through the day or year. Electricity demand in the residential sector tends to be highest in the evenings, when lights are turned on, and the average lighting time varies for about 6 to 8 hours. Further, due to improved brightness and fewer dark areas, the Street Lighting National Program has allowed citizens to increase their productivity at night and made roadways safer for drivers and pedestrians. The electricity costs in the states where 1.03 crore smart LEDs have been installed are reduced by up to 50%. These automatic lights minimize waste by turning on and off at sunrise and sunset.
- In 2021, renewable energy accounted for around 20% of total electricity generation. The nation is slated to reach a renewable energy capacity of 500 gigawatts by 2030. Additionally, more than 36.13 billion LED lights have been distributed throughout India as part of the UJALA initiative. As a result, there have been estimated annual energy savings of 46.92 billion kWh and reductions in greenhouse gas emissions of 38 million CO2 annually. This initiative has reduced electricity use and promoted LED use in the country.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Indian government schemes are providing affordable residential homes, boosting the LED light penetration in the country
- Production linked incentives to encourage local LED manufacturing industries.
- Government is promoting greenhouse farming through schemes such as Mission for Integrated Development of Horticulture (MIDH)
- Rising per capita income in the country is boosting the demand for LED lighting from the residential, commercial, and automotive sectors
- Government schemes such as UJALA are increasing the penetration of LEDs in the country
India Indoor LED Lighting Industry Overview
The India Indoor LED Lighting Market is fragmented, with the top five companies occupying 11.45%. The major players in this market are Crompton Greaves Consumer Electricals Limited, Havells India Ltd., Signify (Philips), Surya Roshni Limited and Wipro Lighting Limited (Wipro Enterprises Ltd.) (sorted alphabetically).
India Indoor LED Lighting Market Leaders
Crompton Greaves Consumer Electricals Limited
Havells India Ltd.
Signify (Philips)
Surya Roshni Limited
Wipro Lighting Limited (Wipro Enterprises Ltd.)
Other important companies include Bajaj Electrical Ltd, Eveready Industries India Limited, OPPLE Lighting Co., Ltd, Orient Electric Limited, Syska Led Lights Private Limited.
*Disclaimer: Major Players sorted in alphabetical order.
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India Indoor LED Lighting Market News
- September 2023: Signify introduced a new app, features, and products for its WiZ smart lighting system to enhance users’ daily convenience. The new offerings include SpaceSense, a motion detection technology for lighting systems that don’t require any sensor to be installed.
- August 2023: Signify introduced an A-class LED tube, which consumes 60% less energy than a standard Philips LED. The MASTER LEDtube UE expands the energy-efficient products that meet the A-grade criteria of the new EU energy labeling and eco-design framework through technological innovation.
- May 2023: Bajaj Electricals acquires JV firm Starlite Lighting. This venture is engaged in the manufacturing of products including LEDs, CFL, and consumer electrical appliances.
Free with this Report
We provide a complimentary and exhaustive set of data points on the country and regional level metrics that present the fundamental structure of the industry. Presented in the form of 40+ free charts, the sections cover difficult to find data on various countries on Automotive Production, Lighting Electricity Consumption, Road Network, Number of Stadiums, Number of Charging Stations among others.
India Indoor LED Lighting Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Population
- 4.2 Per Capita Income
- 4.3 Total Import Of LEDs
- 4.4 Lighting Electricity Consumption
- 4.5 # Of Households
- 4.6 LED Penetration
- 4.7 Horticulture Area
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4.8 Regulatory Framework
- 4.8.1 India
- 4.9 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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5.1 Indoor Lighting
- 5.1.1 Agricultural Lighting
- 5.1.2 Commercial
- 5.1.2.1 Office
- 5.1.2.2 Retail
- 5.1.2.3 Others
- 5.1.3 Industrial and Warehouse
- 5.1.4 Residential
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global level Overview, Market level overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and analysis of Recent Developments)
- 6.4.1 Bajaj Electrical Ltd
- 6.4.2 Crompton Greaves Consumer Electricals Limited
- 6.4.3 Eveready Industries India Limited
- 6.4.4 Havells India Ltd.
- 6.4.5 OPPLE Lighting Co., Ltd
- 6.4.6 Orient Electric Limited
- 6.4.7 Signify (Philips)
- 6.4.8 Surya Roshni Limited
- 6.4.9 Syska Led Lights Private Limited
- 6.4.10 Wipro Lighting Limited (Wipro Enterprises Ltd.)
7. KEY STRATEGIC QUESTIONS FOR LED CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- HUMAN POPULATION IN MILLION, NUMBERS, INDIA, 2017 - 2030
- Figure 2:
- PER CAPITA INCOME, USD, INDIA, 2017 - 2030
- Figure 3:
- VALUE OF LED IMPORTS, USD MILLION, INDIA, 2017 - 2030
- Figure 4:
- CONSUMPTION OF ELECTRICITY FOR LIGHTING, TWH, INDIA, 2017 - 2030
- Figure 5:
- COUNT OF HOUSEHOLDS, MILLION, INDIA, 2017 - 2030
- Figure 6:
- LED PENETRATION, %, INDIA, 2017 - 2030
- Figure 7:
- HORTICULTURE AREA, HECTARE, INDIA, 2017 - 2030
- Figure 8:
- VOLUME SALES OF INDIA INDOOR LED LIGHTING MARKET, NUMBER, INDIA, 2017 - 2030
- Figure 9:
- VALUE SALES OF INDIA INDOOR LED LIGHTING MARKET, USD, INDIA, 2017 - 2030
- Figure 10:
- VOLUME SALES OF LED FIXTURES BY INDOOR LIGHTING, NUMBER, INDIA, 2017 - 2030
- Figure 11:
- VALUE SALES OF LED FIXTURES BY INDOOR LIGHTING, USD, INDIA, 2017 - 2030
- Figure 12:
- VALUE SHARE OF LED FIXTURES BY INDOOR LIGHTING, %, INDIA, 2017 - 2030
- Figure 13:
- VOLUME SHARE OF LED FIXTURES BY INDOOR LIGHTING, %, INDIA, 2017 - 2030
- Figure 14:
- VOLUME SALES OF LED FIXTURES IN AGRICULTURAL LIGHTING, NUMBER, INDIA, 2017 - 2030
- Figure 15:
- VALUE SALES OF LED FIXTURES IN AGRICULTURAL LIGHTING, USD, INDIA, 2017 - 2030
- Figure 16:
- VOLUME SALES OF LED FIXTURES BY COMMERCIAL, NUMBER, INDIA, 2017 - 2030
- Figure 17:
- VALUE SALES OF LED FIXTURES BY COMMERCIAL, USD, INDIA, 2017 - 2030
- Figure 18:
- VALUE SHARE OF LED FIXTURES BY COMMERCIAL, %, INDIA, 2017 - 2030
- Figure 19:
- VOLUME SHARE OF LED FIXTURES BY COMMERCIAL, %, INDIA, 2017 - 2030
- Figure 20:
- VOLUME SALES OF LED FIXTURES IN OFFICE, NUMBER, INDIA, 2017 - 2030
- Figure 21:
- VALUE SALES OF LED FIXTURES IN OFFICE, USD, INDIA, 2017 - 2030
- Figure 22:
- VOLUME SALES OF LED FIXTURES IN RETAIL, NUMBER, INDIA, 2017 - 2030
- Figure 23:
- VALUE SALES OF LED FIXTURES IN RETAIL, USD, INDIA, 2017 - 2030
- Figure 24:
- VOLUME SALES OF LED FIXTURES IN OTHERS, NUMBER, INDIA, 2017 - 2030
- Figure 25:
- VALUE SALES OF LED FIXTURES IN OTHERS, USD, INDIA, 2017 - 2030
- Figure 26:
- VOLUME SALES OF LED FIXTURES IN INDUSTRIAL AND WAREHOUSE, NUMBER, INDIA, 2017 - 2030
- Figure 27:
- VALUE SALES OF LED FIXTURES IN INDUSTRIAL AND WAREHOUSE, USD, INDIA, 2017 - 2030
- Figure 28:
- VOLUME SALES OF LED FIXTURES IN RESIDENTIAL, NUMBER, INDIA, 2017 - 2030
- Figure 29:
- VALUE SALES OF LED FIXTURES IN RESIDENTIAL, USD, INDIA, 2017 - 2030
- Figure 30:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, INDIA, 2017 - 2030
- Figure 31:
- MOST ADOPTED STRATEGIES, COUNT, INDIA, 2017 - 2030
- Figure 32:
- VALUE SHARE OF MAJOR PLAYERS, %, INDIA, 2022
India Indoor LED Lighting Industry Segmentation
Agricultural Lighting, Commercial, Industrial and Warehouse, Residential are covered as segments by Indoor Lighting.
- In terms of value share, industrial and warehouse will have the largest share (58%) in 2023, followed by residential (24.4%), commercial (15.2%) and agricultural lighting (2%). India is on track to become a major manufacturing hub in the world, with the ability to export USD 1 trillion worth of goods by 2030. Further, the implementation of various programs and policies, such as the National Manufacturing Policy, which aims to increase the manufacturing share of GDP to 25% by 2025. The effort is aimed at further accelerating the development of the core manufacturing industry. Demand for industrial lighting has grown steadily in warehousing, logistics, and industrial operations. For example, the Warehousing, Industry, and Logistics (WIL) sector is expected to be crucial to realizing India's vision of becoming a USD 5 trillion economy by FY2025. These factors are increasing sales of LED lighting in domestic warehouses and industries.
- In terms of volume share, residential lighting will have the largest share (68%) in 2023, followed by commercial (28.4%), industrial and warehouse lighting (2%), and agricultural lighting (2%). The average household size, including all registrants nationwide, in 2022 was 4.4, leading to an increase in private households and homeowners. Over 50% of people in India live in their own homes, nearly 30% live in rented houses, and 13% live in their parents' homes. In addition, the Indian real estate sector has recently experienced significant growth due to increased demand for office and residential space. Home sales in seven Indian cities increased by 29% in Q4 FY2021, with new listings up 51% compared to Q4 FY2020. These developments cater to the need for LED lights in houses.
| Indoor Lighting | Agricultural Lighting | |
| Commercial | Office | |
| Retail | ||
| Others | ||
| Industrial and Warehouse | ||
| Residential |
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Market Definition
- INDOOR LIGHTING - It incorporates all LED based lamps and fixtures/luminaire that are used to illuminate indoor section of residential, commercial, industrial buildings and agricultural lighting. LED offers efficient brightness with higher durability in comparison to other lighting technology.
- OUTDOOR LIGHTING - It incorporates the LED lighting fixtures that is used for illumination for exterior/outdoor illumination. For instance, LED lighting fixtures used to illuminate streets and highways, transport hubs, stadiums and other public places such as parking spaces.
- AUTOMOTIVE LIGHTING - It refers to the lighting fixtures installed for illumination and signaling purposes. It is used in both exterior and interior lighting of the vehicle. Headlamps, fog lamp, daytime running light (DRLs) are examples of exterior light whereas cabin light are interior lights.
- END USER - It refers to the end use application area where the LED fixture will be installed. For instance, in terms of indoor lighting, we have residential, commercial and industrial as end user category. For automotive lighting, primary end user considered are automotive manufacturers and aftermarket sale
| Keyword | Definition |
|---|---|
| Lumen | Lumen is a unit of luminous flux in the International System of Units that is equal to the amount of light given out through a solid angle by a source of one-candela intensity radiating equally in all directions. |
| Footcandle | A foot-candle (or foot-candle, fc, lm/ft2, or ft-c) is a measurement of light intensity. One foot-candle is defined as enough light to saturate a one-foot square with one lumen of light. |
| Colour Rendering Index (CRI) | Color Rendering Index (CRI) is a measurement of how natural colors render under an artificial white light source when compared with sunlight. The index is measured from 0-100, with a perfect 100 indicating that colors of objects under the light source appear the same as they would under natural sunlight. |
| Luminous flux | Luminous flux is a measure of the power of visible light produced by a light source or light fitting. It is measured in lumens (lm). |
| Annual Energy Cost | Annual Energy Cost means the average daily energy consumption multiplied by 365 (days per year), expressed in kilowatt hour per year (kWh/a). |
| Constant voltage drivers | Constant voltage drivers are designed for a single direct current (DC) output voltage. Most common constant voltage drivers (or Power Supplies) are 12VDC or 24VDC. An LED light that is rated for constant voltage usually specifies the amount of input voltage it needs to operate correctly. |
| Constant Current Driver | Constant current LED drivers are designed for a designated range of output voltages and a fixed output current (mA). LEDs that are rated to operate on a constant current driver require a designated supply of current usually specified in milliamps (mA) or amps (A). These drivers vary the voltage along an electronic circuit which allows current to remain constant throughout the LED system. |
| Minimum Energy Performance Standards (MEPS) | Minimum Energy Performance Standards specify the minimum level of energy performance that appliances and equipment must meet or exceed before they can supply or used for commercial purposes. |
| Luminous Efficacy | Luminous efficacy is a measurement commonly used in the lighting industry that indicates the ability of a light source to emit visible light using a given amount of power. |
| Solid State Lighting | Solid-state lighting (SSL) is a type of lighting that uses semiconductor light-emitting diodes (LEDs), organic light-emitting diodes (OLED), or polymer light-emitting diodes (PLED) as sources of illumination rather than electrical filaments, plasma (used in arc lamps such as fluorescent lamps), or gas. |
| Rated Lamp Life | Lamp life, also referred to as rated life, is the time in hours a lamp will last before a percentage of lamps will burn out. |
| Color Temperature | Colour temperature is a scale that measures how ‘warm’ (yellow) or ‘cool’ (blue) the light from a particular source is. It is measured in degrees of the Kelvin scale (abbreviated to K), and the higher the number, the ‘cooler’ the light. The lower the ‘K’ number, the ‘warmer’ the light. |
| Ingress Protection rating (IP rating) | The IP (Ingress Protection) rating of a bulb or light fixture declares the level of protection it has against dirt and water. |
| Fidelity Index | The general colour fidelity index, Rf, represents how closely the colour appearances of the entire sample set are reproduced (rendered) on average by a test light as compared to those under a reference illuminant. |
| Gamut Index | The gamut area is defined as “the area enclosed by a set of test color samples illuminated by a light source, in a two-dimensional chromaticity diagram or a plane of color space.”1 Within a defined color space, a “gamut” describes the subset of colors that can be perceived under specific lighting conditions. |
| Binning | In the lighting industry, the act of "binning" of LEDs is the process of sorting LEDs by certain characteristics, such as color, voltage, and brightness. |
| Accent lighting | Accent lighting, also called highlighting, emphasizes objects by focusing light directly on them. Accent lighting is used inside and outside the home to feature locations such as an entrance or to create dramatic effects. |
| Dimmable driver | A dimming driver has two functions: As a driver, it converts the 230V AC mains input to a low voltage DC output. As a dimmer, it reduces the amount of electrical energy flowing to the LEDs, thereby causing them to dim. |
| Flicker | Flicker is the repeated and frequent variation in the output of a light source over time. |
| Fluorescent | A property of materials defined as the ability to emit light after absorbing electromagnetic radiation such as visible or UV light. |
| Candela | The candela is the unit of luminous intensity in the International System of Units. It measures the light output per unit solid angle emitted from a light source in a specific direction. |
| LUX | Lux is used to measure the amount of light output in a given area - one lux is equal to one lumen per square meter. It enables us to measure the total "amount" of visible light present and the intensity of the illumination on a surface. |
| Uniformity (U0) | The uniformity of lighting has significant effects on visual performance in both indoor and outdoor areas. Uniformity (represented as U0) value can be found by dividing the minimum brightness (Emin) resulting from calculations according to the current lighting order, to the average brightness value (Eavg). |
| Visible Light Spectrum | The visible light spectrum is the segment of the electromagnetic spectrum that the human eye can view. More simply, this range of wavelengths is called visible light. Typically, the human eye can detect wavelengths from 380 to 700 nanometers. |
| Ambient Temperature | Ambient Temperature is the temperature of the air surrounding an electrical enclosure. |
| Current-controlled dimming control | Current-controlled dimming controls LED brightness by varying the applied current using a 0-10V dimmer. Current-controlled dimming is smooth and HD-video friendly. It can only dim to a minimum of 5% of light output. |
| Design Light Consortium | It is a partnership of energy efficiency stakeholders in the United States and Canada to “promote quality, performance and energy efficient lighting solutions for the commercial sector”. |
| Pulse Width Modulation | Pulse-width modulation, or pulse-duration modulation, is a method of controlling the average power delivered by an electrical signal. |
| Surface Mounted Device | A surface mount device (SMD) is an electronic device whose components are mounted or placed directly on the surface of a printed circuit board. |
| Alternating Current | Alternating current is an electric current which periodically reverses direction and changes its magnitude continuously with time, in contrast to direct current, which flows only in one direction. |
| Direct Current | Direct current (DC) is an electric current that is uni-directional, so the flow of charge is always in the same direction. |
| Beam Angle | Beam angle (also called beam spread) is a measure of how light is distributed. On any plane perpendicular to the centerline of the light, the beam angle is the angle between two rays where the light intensity is 50% of the maximum light intensity. |
| LED Based Solar High Mast Lighting Systems | A Solar LED High Mast Light is a raised source of High illumination lights (6~8 lights) and with high intensity on the middle of major junctions (Ring roads, Outer Ring roads), turned on or lit automatically in the absence of light (at specified timings or at periodic times, every night). |
| Surface Mounted Diode (SMD) LEDs | A surface mount diode is a type that emits light and is flat mounted and soldered onto a circuit board. |
| Chip on Board (COB) LEDs | A COB LED is basically multiple LED chips (usually 9 or more) glued directly onto a substrate by the manufacturer to form a single module. |
| Dual In-Line Package (DIP) LEDs | A dual in-line package (DIP or DIL) is an electronic component package with a rectangular case and two parallel rows of electrical connector pins. |
| Graphene LED Lights | A graphene LED light bulb is simply an LED light bulb where the filament has been coated in graphene. A graphene LED bulb is reported to be 10% more efficient than regular LED light bulbs and they are cheaper to manufacture and buy. |
| LED Corn Bulbs | LED Corn lights are designed as an energy efficient alternative to high intensity discharge (HID) and SON lamps. It uses a large number of LEDs on a metal structure to provide sufficient light. This arrangement of LEDs looks a lot like a corn cob, hence the name "corn light". |
| Per Capita Income | Per capita income or total income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size. |
| Charging Stations | A charging station, also known as a charging station or electric vehicle utility, is a power supply that provides electrical energy for charging plug-in electric vehicles. |
| Headlight | A headlight is a light that is mounted on the front of a car and illuminates the road in front of it. Low beam and high beam LED headlights are additional categories for these LED headlights. |
| Day Time Running Light (DRLs) | A daytime running lamp is a white, yellow, or amber lighting device mounted on the front of a road-going motor vehicle or bicycle. |
| Directional Signal Light | Directional signal lights are the front and rear lights on an automobile that flash to show the direction of a turn. |
| Stop Light | A red light that is mounted to the back of a car and turns on when the brakes are used to show that the car is stopped. |
| Reverse Light | The reverse light is at the back of the vehicle to indicate its backward motion. |
| Tail Light | A red light that can be seen in the dark is mounted on the rear of a road vehicle. Stop, reverse, and directional signal lights are all part of it. |
| Fog Light | Bright lights in automobiles used to increase visibility on the road in foggy conditions or to warn other drivers of the presence of the vehicle. |
| Passenger Vehicle | A passenger vehicle is a road vehicle, other than a moped or a motorcycle, intended for the transportation of people and designed for up to 8 to 9 seats. |
| Commercial Vehicle | A commercial vehicle (Bus, Truck, Van) is any type of motor vehicle used to transport goods or pay passengers. |
| Two Wheelers (2W) | A two-wheeler is a vehicle that runs on two wheels. |
| Streets & Roadways | Both roads and streets refer to hard, flat surfaces on the ground on which vehicles, people, and animals can travel. Since streetways are usually in cities and towns, they often have houses and buildings on both sides. The roadway is in the countryside and sometimes passes through forests and fields |
| Horticulture Lighting | Horticulture is the science and art of sustainably growing, producing, marketing and using high quality, intensively cultivated food and ornamental plants. |
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Research Methodology
Mordor Intelligence has followed the following methodology in all our data center reports.
- Step 1: Raw Data Collection: To understand the market, initially, all crtical data points were identified. Critical information about countries and regions of interest including Per-capita Income, Population, Automotive Production, Interest rate on Auto-Loans, Number of Automobiles on Road, Total LED Import, Lighting Electricity Consumption among others were recorded or estimated based on internal calculations.
- Step 2: Identify Key Variables: To build a robust forecasting model, key variables such as Number of Households, Automotive Production, Road Networks among others were identified. Through an iterative process, the variables required for the market forecast were set, and the model was built using these variables.
- Step 3: Build a Market Model: Based on data and critical industry trend data (variables), including LED pricing, LED penetration rate, and project macro and micor economic factors were utilized for building the market forecasting.
- Step 4: Validate and Finalize: In this crucial step, all market numbers and variables derived through an internal mathematical model were validated through an extensive network of primary research experts from all the markets studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step 5: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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