By far the most energy efficient, the cleanest and most eco-friendly way of illumination is LED lighting. LED lights being digital in nature are also versatile and can be used in a variety of ways.
To track this new development in the lighting industry, Market Pulse decided to conduct an extensive survey across 12 cities covering more than 1100 respondents comprising end customers, interior designers & electrical contractors, developers and builders, municipal bodies, IREDA, ELCOMA, BEE & Ministry of Railways, retailers of LED lights; channel partners & distributors and national LED manufacturers. Data from the mpElectric Census covering 33,000 electrical outlets across 67 towns has also been analyzed too.
The benefits of LED lighting have brought cheer to lighting enthusiasts in this festive season. The market for LED lamps has already crossed Rs. 100 crores in 2012-2013 and is likely to grow to around Rs 350 cr in 2015-16 as per a new Report by Market Pulse.
Energy conservation is a must now as it becomes increasingly difficult for the energy infrastructure to keep pace with the growing economy. In this regard, LEDs could play a significant role by cutting energy consumption for lighting purposes in India. Realizing this, a number of initiatives have been launched by the Indian Government for increased adoption of LEDs like the Bachat Lamp Yojna, LED Village Campaign and promotion of LED usage in street lighting.
With Philips and Osram as the market leaders across LED lighting categories, brands such as Bajaj, Halonix, Havells and Wipro are also playing significant role in this domain.
The LED luminaries market is dominated by LED Down-lighters, followed by LED Panel Lights, Tube Lamps and LED Spotlights. LED Down-lighters are most popularly sold in the range of 3-6w while LED tube lights are predominantly sold in 10-15w.
Market Pulse report reveals that retail stores followed by the hospitality sector are the primary customer segments, accounting for more than 50% of the LED luminaries. CFLs are seeing maximum replacement by LEDs in hotels, restaurants, coffee shops and hospitals while traditional tube lights have the highest replacement in the retail sector. Till date, more than 30 municipal corporations have also initiated LED street lighting based projects across India.