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India's LED lighting to grow by 41.5% CAGR

Posted: 23 Jun 2010     Print Version  Bookmark and Share

Keywords:LED lighting  India market  lighting technology 

Campaigns to increase awareness about global warming, targets for greenhouse gas reduction, and inclusion into the Copenhagen accord are some initiatives taken by the Indian government to pronounce its environment and energy consciousness. Driven by the Ministry of New and Renewable Energy (MNRE), there is heightened promotion of technologies that improve the country's energy efficiency while aiding in environment conservation. LED lighting is one such technology that has clamoured for attention and made significant headway in the Indian lighting scene. The Indian lighting market, which was dominated by incandescent and fluorescent lighting products, has embraced LED lighting for its demonstrated energy efficiency. This has, in recent years, led many key players like Philips, OSRAM, Crompton Greaves, Bajaj Electricals and Wipro Lighting among others to launch LED-based lighting products in the Indian market. The Indian LED lighting market was estimated at $49.6 million in 2009 (Rs.242.30 crore at that year's average US$1:Rs.48.85), according to a study by Frost & Sullivan. Adoption trends across application segments indicate that the LED lighting market in the country is expected to grow at a CAGR of 41.5 per cent through 2016.

LED lighting benefits

Figure 1: The chart highlights the key advantages of LED lighting. Source: Frost & Sullivan

Pros & cons
LED lighting has some significant advantages over other contemporary lighting technologies, which include:

• Ultra low power consumption
• Absence of heat dissipation
• Small form factor
• Extended operating life expectancy

LED lighting has its own downsides, however, which hinder its widespread adoption in the Indian lighting market. The key constraint is the price premium that LEDs demand with respect to conventional lighting technologies. This premium currently ranges from 5 to 10 times compared with other contemporary lighting technology for any particular application, although certain applications, like street lighting, let the ROI on the price premium be realised over three to five years.

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