India’s lighting sector has been growing at an incredible rate. The LED lighting market, in particular, is expected to increase by 47.1% yearly. According to LEDinside, a division of TrendForce Corporation, the sector was worth 1.14 billion dollars in 2016, alone.
By 2020, the Indian LED lighting market is expected to generate value for 1.715 billion dollars. Joanne Wu, Associate Director of LEDinside, announced that the Indian government plans to make the country the major exporter of lighting products to East Asian countries. Meanwhile, the world’s lighting leaders, including OSRAM and Toshiba, have inaugurated their own manufacturing plants in India. Owing to the strong domestic and global demand, the Indian LED lighting market is expected to expand further over the next few years.
Attracted by the excepted profits, the most important international vendors, Philips Lighting and OSRAM, have decided to set up their R&D centres and manufacturing plants in India and export their products all over the world. Indian brands tend to import products from China and other countries. Exceptions are the bigger local companies such as Havells and Surya.
Wu declared: “Since they are more mature in terms of technology and development, international brands control a greater share of the LED market in India compared to national brands. Anyway, the government is now supporting the domestic lighting sector and has allocated 50% of funds for LED lighting products in several sectors. This will enable local suppliers to increase their market share”.
Despite the government’s support and the rapid growth, the LED lighting market in India is currently in its initial stage of development and some issues in the domestic LED manufacturing and marketing chain remain. Wu noted that, while there are local companies dealing with the assembly, design and production of LED lighting fixtures, LED chips and packages are entirely imported from abroad. A number of Indian lighting vendors tend to purchase finished products from China for local sales or semi-finished products for the assembly. Now, thanks to the government’s support in the national production, India’s dependence on foreign components will start to diminish. However, the lack of national suppliers in the upstream and midstream of the LED industry chain will continue to be a challenge in the short-term.
- Posted by Redazione
- On August 1, 2016
- 0 Comments