India LED Lighting Market is projected to grow at a CAGR of 13.9% from 2023 to 2029F

In terms of Type, Self-ballasted LED lamps are poised to experience accelerated growth in the India LED Lighting Market –6Wresearch

By Type, Self-ballasted LED lamps are growing due to their convenience and versatility, eliminating the need for separate ballasts, and making installation simpler for consumer. Moreover, With the government's initiatives to promote LED adoption and the growing awareness of the benefits of energy-efficient lighting, self-ballasted LED lamps are anticipated to continue dominating the India LED lighting market in the foreseeable future.

According to 6Wresearch, the India LED Lighting Market is projected to grow at a CAGR of 13.9% from 2023 to 2029F. The India LED lighting market is currently in the mid growth phase, fueled by the flourishing residential and real estate sectors. Forecasts indicate that the real estate industry in India is set to escalate to a value of INR 83.3 Lakh Crores by 2030, a significant increase from INR 16.67 Lakh Crores in 2021. This growth trajectory is anticipated to elevate the sector's contribution to the country's GDP to 18-20% by 2030, thereby driving the demand for LED lighting.

In the upcoming years, the India LED lighting market is poised for substantial expansion, driven by, increasing urbanisation which is expected to reach upto 37.3% by 2025 as compared to 36.3% in 2023 would further contribute to market growth.

According to Vasudha, Senior Research Analyst, 6Wresearch, by End-User, the indoor lighting segment is poised for rapid growth, primarily due to the swift urbanization and the expanding middle-class populace in India. This demographic shift is propelling demand for residential spaces, commercial complexes, and institutional buildings, all necessitating effective indoor lighting solutions.

The India LED Lighting Market (2024-2030) report provides an in-depth analysis with 21 figures and 11 tables, covering 79 pages. India LED Lighting Market report comprehensively covers the market by types, applications, end-use, sales channels, and regions. The report provides an unbiased and detailed analysis of the India LED lighting trends, opportunities, high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.