Friday, October 04, 2013: According to a recent research, the lighting fixture market is set to grow at a rate of 17 per cent CAGR till 2018, giving companies like Philips Lighting India, Bajaj Electrical Ltd, Crompton Greaves Ltd and Wipro Ltd a bigger opportunity in the Indian market. The report ‘India Lighting Fixtures Market Forecast & Opportunities, 2018’ was published by TechSci Research.
The research analysts behind this report attribute this impressive growth rate to the increased number of construction projects across the country in the real estate and infrastructure sectors. The report states that the developments in social infrastructure, automotive and IT sectors of the country are driving the lighting fixtures market in India. The increasing government investment for rural electrification programs and expenditure on country’s infrastructure is also expected to contribute to the growth of lighting fixture market.
The report also analyses the lighting fixtures market. According to the report, the market for lighting fixtures includes portable and non-portable (fixed) lighting fixtures. The lighting fixture market is further segmented into consumer, decorative and outdoor lighting fixtures.
According to the report, consumer lighting is the dominating segment in India, accounting for majority of the total lighting market. The penetration level of outdoor lights in India is expected to improve in the near future. Also, the increasing demand for LED and OLED lighting is contributing to the growth of lighting fixtures market.
In addition, the TechSci Research report highlights the opportunities and challenges in the lighting fixtures market in India. According to the report light fixtures are being used as decorative items in high income households, which is fueling the niche market segment i.e. designer lighting fixtures market.
The press statement released about the report quoted Karan Chechi, Research Director, TechSci Research, saying, “The industry players are introducing high-end lighting fixtures in urban markets as a result of increasing demand for such products. However, the demand for these fixtures is limited to urban households. The lower penetration level of decorative lights in India gives ample opportunities to the manufacturers to tap this growing market.”
‘India Lighting Fixture Market Forecast & Opportunities, 2018’ has evaluated the future growth potential of India’s lighting fixture market and provides statistics and information on market structure, statistics and trends. The report includes lighting fixture projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in lighting fixture market in India.
