India LED Luminaire (Batten) Market Size Worth $915.46 Million By 2038: IndustryARC
Research Reports
Oct 05, 2023
India LED Luminaire (Batten) Market size is predicted to reach $1419.98 million by 2038, growing at a CAGR of 7.2% during the forecast period 2023-2038 according to the latest market research report published by IndustryARC. Government Initiatives towards the promotion of LED Lighting, Demand for Commercial and Industrial Lighting from Tier 2 and Tier 3 Cities are the driving factors of the market during the forecast period, finds IndustryARC in its recent report, titled “India LED Luminaire (Batten) Market Size, Share & Trends Analysis Report By Wattage(Upto 5W, 6 to 8W, 9 to 15W, 16 to 20W, 21 to 24W, 25 to 28W, and >30W), By Product Length( 1200 mm), By CRI(90), By Luminous Efficacy(205 lm/W), By Material(Optic Material, Housing Material), By Application(Indoor and Outdoor), By End Use(Commercial, Industrial, and Residential)& Industry Forecast, 2023-2038.”
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India LED Luminaire (Batten) Market 2023-2038: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2022 |
|
Forecast Period |
2023–2038 |
|
CAGR |
7.2% |
|
Market Size in 2038 |
$1419.98 Million |
|
Segments Covered |
Wattage, Product Length, CRI, Luminous Efficacy, Material, Application, and End-Use |
|
Key Market Players |
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India LED Luminaire (Batten) Market Report – Key Takeaways:
Indoor Segment is the Fastest Growing Segment in the Market
The indoor segment dominated India LED Luminaire (Batten) Market with a market share of approximately 92% in 2022. LED battens offer flicker-free illumination, reducing eye strain and providing a more comfortable and pleasant lighting experience for prolonged indoor use. Many LED battens are dimmable, allowing users to adjust the brightness as per their preference and lighting needs. This feature enhances energy savings and adds to the flexibility of indoor lighting control.
Indoor segment in the India LED Luminaire (Batten) Market can be linked to the increased adoption of LED lighting solutions by businesses across various sectors. The expanding startup ecosystem and the establishment of new factories have driven the demand for commercial spaces, leading to a surge in the requirement for efficient indoor lighting solutions like LED linear lamps. Additionally, supportive government policies and growing awareness about the benefits of energy-efficient lighting have further accelerated the market’s growth in the indoor segment.
Demand for Commercial and Industrial Lighting from Tier 2 and Tier 3 Cities
While Special Economic Zones (SEZs) to promote the IT/ITeS (IT-enabled Services) industry have been set up in Tier-2 cities, State Governments are also incentivizing businesses that are setting up new centers or expanding existing setups into non-Tier-1 locations. For instance, as per Tamil Nadu ICT policy 2018, new or expansion of IT/ITeS industries located in B&C districts will be provided an additional capital subsidy of 10% and 25% respectively over and above the eligible limit. The growing adoption of APIs is further set to drive Indian LED Luminaire (Batten) Market during the forecast period.
India LED Luminaire (Batten) infrastructure and distribution challenges and risks to impede the market growth
India is a vast country with varying levels of urbanization and development across different regions. While major cities and urban centers may have well-established distribution networks, reaching remote and rural areas with LED Luminaire (Batten) can be challenging. The lack of proper roads and transportation facilities in some regions can hinder the smooth distribution of products. The logistics of distributing LED Luminaire (Batten) from manufacturers to retailers or end-users can be complex and time-consuming. Efficient transportation systems and warehousing facilities are essential to ensure that products are delivered in a timely and cost-effective manner. Expanding the presence of LED Luminaire (Batten) in retail stores, especially in smaller towns and rural areas, can be a challenge. Establishing partnerships with retailers and promoting product visibility on shelves is crucial for increasing market reach.
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Key Opportunity Analysis:
Rising Awareness and Adoption
As awareness about the benefits of LED lighting continues to increase, there is immense potential for higher adoption rates in both residential and commercial sectors. Consumers and businesses are likely to replace traditional lighting with LED Luminaire (Batten) to achieve energy savings and reduce their carbon footprint. The growing adoption of LED linear lamps has been further facilitated by the development of a competitive and diverse market, with an array of product options catering to different consumer needs and preferences. As more individuals and organizations witness the benefits of LED lighting, the market’s growth is expected to continue, driven by the rising awareness and adoption of LED linear lamps across various sectors in India.
Government Initiatives
The Indian government’s continued support for energy efficiency through initiatives such as the “National LED Program” and energy efficiency standards can create a conducive environment for LED linear lamp manufacturers. Incentives and subsidies may further drive market demand. Furthermore, the Bureau of Energy Efficiency (BEE) has implemented star labeling for LED products, similar to appliances like refrigerators and air conditioners. This labeling system informs consumers about the energy efficiency of different LED products, encouraging them to choose higher-rated products, which, in turn, increases demand for more energy-efficient LED linear lamps.
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The Report also Covers the Following Areas:
- India LED Luminaire (Batten) Market Size and Forecast
- India LED Luminaire (Batten) Market Trends
- India LED Luminaire (Batten) Market Analysis by Luminous Efficacy
India LED Luminaire (Batten) Market 2023-2038: Key Highlights
- CAGR of the market during the forecast period 2023-2038
- Value Chain analysis of key stake holders
- Detailed analysis of market drivers and opportunities during the forecast period
- India LED Luminaire (Batten) Market size estimation and forecast
- Analysis and predictions on end users’ behavior and upcoming trends
- Competitive landscape and Vendor market analysis including offerings, developments, and financials
- Comprehensive analysis of challenges and constraints in the India LED Luminaire (Batten) Market
Covid and Ukrainian Crisis Impact:
The LED batten market, like many other industries, experienced disruptions in the supply chain due to lockdowns, travel restrictions, and factory closures in various countries. This led to delays in manufacturing, shipping, and delivery of LED batten products. Many construction and infrastructure projects were put on hold or delayed during the pandemic. These projects often involve the installation of lighting fixtures, including LED battens, which impacted the market’s growth.
As there were significant LED batten manufacturing or supply chain operations based in Ukraine or neighboring countries affected by the crisis, it led to disruptions in the availability of LED batten products or components. Political tensions and sanctions resulting from the Ukraine crisis also affected trade relations between Ukraine and other countries, potentially influencing the export and import of LED batten products.
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List of Key Market Players in India LED Luminaire (Batten) Market:
The key companies profiled in the India LED Luminaire (Batten) Market Report are listed below:
- Havells India Limited
- Surya Roshni Ltd.
- Ledvance
- Jaguar Lighting
- Panasonic Life Solutions India Pvt, Ltd./Anchor
- Wipro Lighting
- Orient Electric
- Halonix Technologies
- HPL Electric & Power Ltd.
- Bajaj Electricals Ltd.
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Mr. Venkat Reddy IndustryARC Email: sales@industryarc.com USA: (+1) 518-282-472
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