Indian LED Lighting Market Growth Analysis - Forecast Trends and Outlook (2025-2034
Market Report I 2025-08-12 I 141 Pages I EMR Inc.
The Indian LED lighting market was valued at USD 5.50 Billion in 2024 . The industry is expected to grow at a CAGR of 13.00% during the forecast period of 2025-2034 to attain a valuation of USD 18.67 Billion by 2034 .
Owing to various supporting factors, conventional light bulbs in India are easily being replaced by LED lights. Furthermore, as LEDs are progressively used in automotive headlamps, aviation, general lighting, advertising, lighted wallpapers, medical devices, camera flashes as well as traffic signals, the LED lighting market is expanding throughout the country. In addition, the entry of Chinese LED light producers in India has enabled Indian manufacturers to offer innovative products. The Northern Region has the highest proportion of sales in India's overall market, followed by the Southern Region. Supported by various upcoming infrastructural projects throughout residential, industrial, and commercial areas across the country, the market for LED lighting is likely to see strong growth in the forecast years.
The Indian LED lighting market has seen an increase due to population growth and subsequent urbanisation in the historical period. With a growing rate of electricity use, demand for an environmentally sustainable and cost-effective lighting solution is also gaining momentum. Thus, LED lighting has begun to dominate the general lighting market of India tremendously in recent years. Several government schemes, like Unnat Jyoti by Affordable LEDs for All (UJALA) as well as Street Lighting National Program (SLNP), has remained India's largest demand generator for LED lighting. The goal of these initiatives is to raise consumer awareness of the adoption of LED bulbs over traditional lighting sources like incandescent bulbs, CFL, and halogen lights. For example, under the SLNP, the Government plans to replace more than 1.34 crore traditional street lights in India, of which approximately 1.04 crore street lights have already been replaced as of November 2020.
Market Segmentation
Light-emitting diode (LED) refers to a semiconductor that emits light as the electrical current passes through it. Often known as solid-state lighting, LED lights have potential advantages over halogen, fluorescent, and incandescent lights like energy efficiency, longer lifetime, and exceptionally low power consumption.
The market on the basis of product is segmented into:
- Panel Lights
- Down Lights
- Street lights
- Tube Lights
- Bulbs
- Others
It finds applications in the following sectors:
- Commercial
- Residential
- Institutional
- Industrial
On the basis of region, the market is divided into:
- North Region
- East and Central Region
- West Region
- South Region
Market Analysis
Various advantages offered by LED lights, such as improved physical strength, smaller size, faster switching, high durability, and lower heat production, contribute significantly to the development of the LED lighting industry in India. In addition, increasing customer perception of cost-effectiveness, improved life, improved performance, and the inherent eco-friendly value of LED lighting will continue to drive the sales in the retail, residential, and commercial sectors. Moreover, the Indian Government is supporting LED street lighting initiatives and providing LED lights at discounted rates. For example, over 2.1 million traditional street lights have been replaced by LED street lights throughout the region under the Street Lighting National Program (SLNP). In addition, the 'Make in India' initiative introduced by the Government has established electronics as a key sector and emphasises on attracting capital and technical investment in India.
Competitive Landscape
The report gives a detailed analysis of the following key players in the Indian LED lighting market, covering their competitive landscape, capacity, and latest developments like mergers and acquisitions, investments, expansions of capacity, and plant turnarounds:
- Bajaj Electricals Limited
- Havells India Ltd
- Wipro Limited
- Goldmedal Electricals Pvt. Ltd
- Syska LED Lights Pvt Ltd
- Signify Holding
- Crompton Lamps Ltd
- Finolex Cables Ltd
- Corvi LED Pvt Ltd
- Halonix Technologies Private Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
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1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global LED Lighting Market Overview
5.1 Key Industry Highlights
5.2 Global LED Lighting Historical Market (2018-2024)
5.3 Global LED Lighting Market Forecast (2025-2034)
5.4 Global LED Lighting Market Share by Region
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6 India LED Lighting Market Overview
6.1 Key Industry Highlights
6.2 India LED Lighting Historical Market (2018-2024)
6.3 India LED Lighting Market Forecast (2025-2034)
7 India LED Lighting Market by Product
7.1 Panel Lights
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Down Lights
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 Street lights
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
7.4 Tube Lights
7.4.1 Historical Trend (2018-2024)
7.4.2 Forecast Trend (2025-2034)
7.5 Bulbs
7.5.1 Historical Trend (2018-2024)
7.5.2 Forecast Trend (2025-2034)
7.6 Others
8 India LED Lighting Market by Application
8.1 Commercial
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Residential
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 Institutional
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
8.4 Industrial
8.4.1 Historical Trend (2018-2024)
8.4.2 Forecast Trend (2025-2034)
9 India LED Lighting Market by Region
9.1 North Region
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 East and Central Region
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 West Region
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
9.4 South Region
9.4.1 Historical Trend (2018-2024)
9.4.2 Forecast Trend (2025-2034)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyer's Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Manufacturing Process
11.1 Manufacturing Process and Process Flow
11.2 Raw Material Requirements
11.3 Suppliers of Raw Materials and Delivery Time
12 Project Requirements and Costs Involved
12.1 Land Requirements and Expenditures
12.2 Construction Requirements and Expenditures
12.3 Plant Machinery
12.4 Raw Material Requirements and Expenditures
12.5 Packaging Requirements and Expenditures
12.6 Transportation Requirements and Expenditures
12.7 Utility Requirements and Expenditures
12.8 Manpower Requirements and Expenditures
12.9 Other Capital Investments
13 Loans and Financial Assistance
14 Project Economics
14.1 Capital Cost of the Project
14.2 Techno-Economic Parameters
14.3 Product Pricing and Margins Across Various Levels of the Supply Chain
14.4 Taxation and Depreciation
14.5 Income Projections
14.6 Expenditure Projections
14.7 Financial Analysis
14.8 Profit Analysis
15 Competitive Landscape
15.1 Supplier Selection
15.2 Key Global Players
15.3 Key Regional Players
15.4 Key Player Strategies
15.5 Company Profiles
15.5.1 Bajaj Electricals Limited
15.5.1.1 Company Overview
15.5.1.2 Product Portfolio
15.5.1.3 Demographic Reach and Achievements
15.5.1.4 Certifications
15.5.2 Havells India Ltd
15.5.2.1 Company Overview
15.5.2.2 Product Portfolio
15.5.2.3 Demographic Reach and Achievements
15.5.2.4 Certifications
15.5.3 Wipro Limited
15.5.3.1 Company Overview
15.5.3.2 Product Portfolio
15.5.3.3 Demographic Reach and Achievements
15.5.3.4 Certifications
15.5.4 Goldmedal Electricals Pvt. Ltd
15.5.4.1 Company Overview
15.5.4.2 Product Portfolio
15.5.4.3 Demographic Reach and Achievements
15.5.4.4 Certifications
15.5.5 Syska LED Lights Pvt Ltd
15.5.5.1 Company Overview
15.5.5.2 Product Portfolio
15.5.5.3 Demographic Reach and Achievements
15.5.5.4 Certifications
15.5.6 Signify Holding
15.5.6.1 Company Overview
15.5.6.2 Product Portfolio
15.5.6.3 Demographic Reach and Achievements
15.5.6.4 Certifications
15.5.7 Crompton Lamps Ltd
15.5.7.1 Company Overview
15.5.7.2 Product Portfolio
15.5.7.3 Demographic Reach and Achievements
15.5.7.4 Certifications
15.5.8 Finolex Cables Ltd
15.5.8.1 Company Overview
15.5.8.2 Product Portfolio
15.5.8.3 Demographic Reach and Achievements
15.5.8.4 Certifications
15.5.9 Corvi LED Pvt Ltd
15.5.9.1 Company Overview
15.5.9.2 Product Portfolio
15.5.9.3 Demographic Reach and Achievements
15.5.9.4 Certifications
15.5.10 Halonix Technologies Private Limited
15.5.10.1 Company Overview
15.5.10.2 Product Portfolio
15.5.10.3 Demographic Reach and Achievements
15.5.10.4 Certifications
15.5.11 Others
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