LEDs serve as a perfect lighting solution for illuminating public, commercial and private spaces. With an increased environment consciousness and an urge to reduce carbon footprints, the government and industries are looking towards LED lighting as an ideal source. LED lights are replacing the conventional halogen lamps at a fast pace by slowly making their way outside the homes by illuminating street lights, public transport areas.
Growth of the market: 32.2%
The LED market is very new in India. The forecasted growth of the market between 2014 to 2019 is said to between 32.2% In 2013, the Indian LED industry generated a revenue of Rs 20 billion. However, the scenario has changed now due to the efforts of the government. ELCOMA has advised the Indian government to change all the fluorescent and gas discharge lamp street lights to LED lights, which will help save about 50 per cent of the energy currently being consumed. The governmenthas entrusted Energy Efficiency Services Limited (EESL) with the responsibility of funding all such street lighting programmes. Apart from this, a sum of Rs 100 billion has been allocated to EESL to supply 27.5 million LED lights for street lighting over the next two to three years.
Government of India is also taking initiatives in promoting LED lights throughout the country and usage of these lights is supposed to grow in government buildings across the nation.Director of ministry of urban development has revealed that the government is keen to increase of LED lighting and has taken significant steps to promote the same.
Tenders have already been floated and the price stands at around Rs 250 per lamp. Since the demand for LEDs is growing rapidly, the prices will also come down within a short span of time.
Indian lighting industry to become a Rs.370 billion market by 2020