Thursday, August 29, 2013: India Lighting Source Market Forecast & Opportunities, 2018 stated that the phase out of incandescent lamps under the ‘Bachat Lamp Yojana’ by the Bureau of Energy Efficiency, Ministry of Power will spur the growth of LEDs and CFLs. Hence, the market for lighting sources in India is supposed to grow at a CAGR of 28 per cent over the next five years. The demand for lighting source throughout the country is getting boost from the increasing construction activities for improving the existing infrastructure and real estate sectors. Industry growth is being spurred by the expansion of automotive market and rise in penetration of high end lighting products. Moreover, technology can be one factor for dividing the market for lighting sources.
If we talk of traditional technology, it comprises of incandescent lamps, fluorescent lamp tubes, compact Fluorescent Lamps and special lamps while LEDs come under modern lighting source technologies. It is possible that incandescent lamps that are now dominating the market may lose market share in the future due to the presence of energy efficient solutions such as CFLs and also because of increasing awareness among the consumers.
Brands such as Philips, Surya, Crompton greaves, Wipro and Bajaj Electricals dominates the market sphere. The majority share in the market is enjoyed by the market leader, Philips.
