The Indian LED lighting market is expected to reach Rs.31,010 crore, growing at a CAGR of 62 per cent between 2016-20. There has been increased focus by the government towards energy conservation and efficiency in the last few years.
Govt schemes have led to demand in the residential segment
Supported by ongoing government initiatives to promote LED lighting as well as changing consumer preferences, the LED market will grow to Rs.21,600 crore by 2020, an exponential growth of 41 per cent CAGR from Rs.1,925 crore in 2013, making the LED market ~60 per cent of the total lighting industry (Rs.37.600 crore) in 2020.
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