India Indoor LED Lighting Market Size and Share
Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 7.36 Billion |
| Market Size (2030) | USD 10.76 Billion |
| Growth Rate (2025 - 2030) | 7.88% CAGR |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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India Indoor LED Lighting Market Analysis by Mordor Intelligence
The India indoor LED lighting market size is valued at USD 7.36 billion in 2025 and is forecast to reach USD 10.76 billion by 2030, representing a 7.88% CAGR across the period. Government energy–efficiency mandates, a sharply declining bill of materials for LED packages, and rapid smart-building rollouts are the primary tailwinds behind this expansion. Price compression, sparked by bulk procurement under the UJALA program, has lowered average lamp prices by 90% compared to 2014 levels, accelerating penetration in tier-2 and tier-3 cities. Domestic production advantages derived from the Production Linked Incentive (PLI) scheme are further anchoring supply-chain resilience and lowering import exposure.[1]Ministry of Commerce and Industry, “PLI scheme incentivizes domestic manufacturing, increases production, creates new jobs and boosts exports,” Press Information Bureau, pib.gov.in Meanwhile, e-commerce marketplaces are opening direct access to rural consumers, while corporate ESG commitments continue to redirect capital toward high-efficacy retrofits that integrate controls, sensors, and real-time monitoring. Headwinds center on raw-material price swings for indium, tungsten, and aluminum, as well as the ongoing 18% GST levy, both of which temper near-term cost savings.
Key Report Takeaways
- By product type, luminaires accounted for 62.98% revenue share in 2024; lamps are projected to expand at an 8.68% CAGR through 2030.
- By application, the residential segment held a 41.81% share of the India indoor LED lighting market in 2024 and is projected to advance at a 9.80% CAGR through 2030.
- By installation type, retrofit projects commanded a 76.82% share of the India indoor LED lighting market size in 2024, while new installations are projected to grow at an 8.30% CAGR through 2030.
- By distribution channel, wholesale and retail contributed 56.71% of the revenue in 2024; e-commerce is the fastest-growing channel, with a 7.94% CAGR.
- Havells, Crompton, and Bajaj Electricals together controlled just under one-quarter of 2024 revenue.
India Indoor LED Lighting Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| National energy-efficiency programs (e.g., UJALA) spur mass LED adoption | +1.2% | National, with higher penetration in tier-1 cities extending to tier-2/3 | Medium term (2-4 years) |
| Sharp decline in LED component and finished-product prices | +1.8% | Global supply chain benefits, particularly tier-2/3 Indian cities | Short term (≤ 2 years) |
| Rising smart-home and building-automation penetration | +1.1% | Urban metros, expanding to tier-1 cities | Long term (≥ 4 years) |
| Corporate ESG targets driving retrofit demand in commercial real estate | +0.9% | Major commercial hubs: Mumbai, Delhi NCR, Bengaluru, Chennai | Medium term (2-4 years) |
| Government Production-Linked Incentive (PLI) scheme for LED components | +1.4% | National manufacturing hubs, particularly Gujarat, Tamil Nadu | Long term (≥ 4 years) |
| Tier-2/3 city demand surge via e-commerce fulfillment | +1.5% | Tier-2/3 cities across all states | Short term (≤ 2 years) |
| Source: Mordor Intelligence | |||
Sharp Decline in LED Component Costs Spurs Mass Adoption
The contract-manufacturing scale in China and Vietnam, combined with domestic capacity added under the PLI scheme, has slashed the average selling prices for lamps from INR 310 (USD 3.49) in 2014 to INR 39.9 (USD 0.45) by 2019. This 90% reduction narrowed payback periods to fewer than nine months for most residential users, pushing penetration of the India indoor LED lighting market well past the inflection point in both metro and non-metro areas. Lower component prices also free capex for connected controls, allowing commercial buyers to migrate toward sensor-rich luminaires without breaching budget ceilings. Suppliers able to lock in multi-year driver IC and chip contracts are currently holding their margins even as retail price indices fall, underscoring the economies of scale.
PLI-Backed Domestic Manufacturing Strengthens Supply Chains
Eighty-four approved applicants have pledged INR 10,478 crore (USD 1180.2 million) to localize chip-on-board packaging, driver electronics, and light-management software under the White Goods PLI scheme. Early outputs include Gujarat-based fabs shipping mid-power LEDs to Havells and Crompton assembly lines. Import substitution is reducing average logistics lead times by 28 days and shielding OEMs from disruptions to shipping lanes. MSME vendors that supply heat sinks and secondary optics now have access to a reliable offtake market, deepening India’s component ecosystem and positioning the India indoor LED lighting market as an emerging export base for the Middle East and Africa.
E-Commerce Unlocks Tier-2/3 Demand
Smartphone penetration reached 75% of India’s adult population in 2024, aligning logistics with latent demand in non-metro districts. Marketplace algorithms now bundle LED lamps with commonly purchased home-improvement SKUs, driving upsell and reducing customer acquisition costs for brands vying for a share in the Indian indoor LED lighting market. Flash-sale events timed with festivals have proven especially effective, placing 37 million A-type lamps in households during Diwali 2024 alone, a 23% year-over-year increase. Smaller OEMs are using fulfillment centers to bypass traditional wholesalers, compressing the go-to-market calendar from 120 days to fewer than 40.
National Energy-Efficiency Programs Cement Market Baseline
The UJALA and Street Lighting National Program collectively distributed 36.8 crore bulbs and installed 1.27 crore streetlights by January 2024, resulting in an estimated 9,789 MW reduction in peak-load demand. Bulk procurement reduced procurement cost curves, teaching price-sensitive consumers to equate LED with default lighting. Verified savings of 48.42 billion kWh annually have validated total-cost-of-ownership models for institutional buyers, ensuring continuous pipeline activity for retrofit contracts in schools, government offices, and public-health centers. The ripple effect is durable demand certainty that undergirds capital investment decisions across the India indoor LED lighting market.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| High GST slab (18%) keeping upfront cost above CFL alternatives | -1.1% | National, particularly price-sensitive tier-2/3 markets | Short term (≤ 2 years) |
| Fragmented after-sales service network in lower-tier cities | -0.8% | Tier-2/3 cities across all states | Medium term (2-4 years) |
| Cheap, poor-quality imports eroding consumer trust | -0.7% | National, concentrated in unorganized retail channels | Medium term (2-4 years) |
| Raw-material price volatility (Al, copper, rare-earth phosphors) | -1.0% | Global supply chain impact, affecting all Indian manufacturers | Short term (≤ 2 years) |
| Source: Mordor Intelligence | |||
GST Structure Creates Immediate Price Barriers
An 18% Goods and Services Tax puts LED bulbs at a price point roughly 15-20% above compact fluorescent substitutes on store shelves. In tier-3 markets, where cash purchases dominate, this differential prompts households to stagger upgrades across fiscal quarters, slowing volume velocity in the India indoor LED lighting market. Although the 2025 Union Budget reduced the basic customs duty on finished luminaires to 20%, the additional 5% AIDC charge mitigated the relief. Organized retail, therefore, cedes some volume to unorganized outlets that may sidestep compliance, perpetuating a gray-market alternative.
Raw-Material Volatility Adds Supply-Chain Risk
China’s February 2025 export-license regime for indium, tungsten, and molybdenum increases spot-price volatility for transparent conductive films and phosphor blends, which are essential to high-efficacy chips.[2]ChemRadar, “China Implements Export Controls on Key Minerals Including Tungsten and Indium,” chemradar.com Index pricing for indium jumped 13% within a month, eroding OEM gross margin by 180 basis points in the March quarter. Aluminum and copper fluctuations further strain producers, especially those with single-source contracts. Forward-buying and alloy substitution offer partial hedges; however, performance criteria limit the rapid swapping of materials, exposing the Indian indoor LED lighting market to short-cycle price spikes.
Segment Analysis
By Product Type: Luminaires Extend System Value
Luminaires accounted for 61.98% of 2024 revenue in the India indoor LED lighting market, reflecting user preference for turnkey fixtures that integrate thermal management and optical control. Commercial buyers, in particular, value factory-programmed drivers that communicate with building management systems, making these products the de facto standard for Grade-A developments. The India indoor LED lighting market size for luminaires is expected to grow in line with premium office and hospitality build-outs, aided by architectural trends favoring concealed cove lighting and tunable white solutions.
Lamp sales, though at 38.02% share, are tracking an 8.68% CAGR, signaling durable retrofit upside. Their standardized bases lower installation friction, allowing homeowners and small shops to capture immediate savings. Online channels broadcast price drops in real-time, stimulating impulse purchases that increase unit throughput. As localized supply chains compress unit cost further, lamp penetration is set to deepen across semi-urban rental housing, adding breadth to the India indoor LED lighting market.
By Application: Residential Uptake Accelerates
Residential projects accounted for 41.81% of 2024 shipments, with LED adoption now embedded in new-build codes and renovation autopilot. The India indoor LED lighting market size for homes is forecast to expand at a 9.80% CAGR, driven by rising per-capita income and aspirational décor preferences. Smart-home ecosystems that sync lighting with voice assistants encourage upselling from basic A-type bulbs to color-tunable kits, lifting the average selling price in metro condominiums.
Commercial offices hold a roughly 25% share yet house the most advanced control portfolios, driven by corporate sustainability scorecards. Here, the India indoor LED lighting market share advantage lies in sensor-embedded troffers that can reduce energy bills by up to 80% when combined with daylight harvesting. Retail, hospitality, and industrial buyers round out demand, valuing LED for merchandising vibrancy, mood flexibility, and ruggedness, respectively.
By Installation Type: Retrofit Dominance Signals Maturity
Retrofit projects accounted for 76.82% of 2024 revenue, underscoring the momentum for replacements. Government swap-out schemes and rising electricity tariffs make the payback calculus obvious, with most urban households recovering the upfront cost within one fiscal year. Procurement agencies routinely specify LED for refurbishment tenders, thereby locking in a baseline volume for the India indoor LED lighting market.
New installations account for a 23.18% share, yet they clock a faster 8.30% CAGR as Smart City projects and commercial real estate pipelines swell. Architects now incorporate luminaires with native DALI or Zigbee drivers into blueprints, thereby avoiding costly post-installation rewiring. Building-code amendments in states such as Karnataka and Maharashtra mandate the use of LED in new residential towers over specific height thresholds, channeling structural growth into the India indoor LED lighting market size.
By Distribution Channel: Wholesale Retains Reach, E-Commerce Scales
Wholesale retail accounted for 56.71% of sales in 2024, supported by contractor credit lines and project bundling. Distributors deepen stickiness through site audits and photometric simulations, services that pure-play e-commerce lacks. Their regional warehouses buffer stock volatility, ensuring project timelines remain on track.
E-commerce, however, outpaces at a 7.94% CAGR as doorstep delivery eases access for rural households. Dynamic pricing engines and festival promotions attract first-time buyers, enhancing brand recognition in emerging neighborhoods. Direct sales teams focus on institutional accounts, offering turnkey lighting-as-a-service contracts that monetize efficiency gains budding sub-segment of the India indoor LED lighting industry.
Geography Analysis
Northern and western clusters, encompassing Delhi NCR, Mumbai, Gujarat, and Rajasthan, account for almost half of the 2025 demand in the India indoor LED lighting market. High urban density, corporate head-office concentration, and proactive utility rebate programs accelerate commercial uptake. Gujarat’s manufacturing corridor doubles as a supply-chain hub, shaving freight cost and reinforcing channel inventory fluidity.
Southern states, including Karnataka, Tamil Nadu, and Andhra Pradesh, are experiencing the fastest compound growth as IT campuses and electronics fabs spur infrastructure development. Andhra Pradesh topped the national LED street-lighting league with 2.2 crore bulbs deployed, a public endorsement that nudges household adoption upward. State-level energy development agencies co-finance bulk procurements, catalyzing volume in the Indian indoor LED lighting market for both institutional and residential retrofits.
Eastern and northeastern pockets remain underpenetrated yet represent significant upside opportunities. Projects such as the Agartala Municipal Infrastructure Development initiative earmark street-lighting modernization budgets, injecting demand visibility.[3]Asian Development Bank, “Agartala Municipal Infrastructure Development Project,” biddetail.com Logistics constraints persist, but smart-city mission templates standardize tender frameworks, allowing national brands to replicate success without costly custom engineering. E-commerce parcels bypass wholesaler scarcity, putting quality-assured lamps into households that previously relied on incandescent bulbs, thereby broadening India's indoor LED lighting market footprint.
Competitive Landscape
The India indoor LED lighting market is moderately concentrated. Havells, Crompton, and Bajaj Electricals collectively accounted for just under 25% of 2024 revenue, supported by country-wide dealer grids exceeding 300,000 outlets and a strong brand recall. Havells derived roughly INR 1,835 crore from lighting in FY2024, using its Crabtree and Lloyd portfolios to cover premium and value tiers. Crompton’s Nucleus platform expands IP-65 rated fixtures for parking garages and industrial sheds, widening institutional coverage.
International majors, such as Signify, differentiate themselves via control software. Interact City deployments in Pune and Vadodara collect granular energy data, enabling municipal dashboards that justify service-level agreements. ABB’s Cylon brand co-coordinates HVAC and lighting, a cross-disciplinary pitch that resonates with green-building certifiers. These firms absorb a technology-leadership premium, although local OEMs are catching up as driver-IC royalty costs decline.
Start-ups leverage PLI capital to target niche markets, such as horticultural grow lights and UV-C disinfection. Krut LED’s joint venture with Havells in South Carolina signals outbound ambitions, validating India as an export node for next-generation fixtures. Raw-material volatility tilts the advantage toward vertically integrated players that back-source chip packaging, buffering margin amid commodity spikes. The industry, therefore, balances between scale economics and innovation agility.
India Indoor LED Lighting Industry Leaders
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Signify N.V. (Signify Innovations India Limited)
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Havells India Limited
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Bajaj Electricals Limited
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Crompton Greaves Consumer Electricals Limited
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Surya Roshni Limited
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- August 2025: Havells Lighting LLC opened a U.S. manufacturing and distribution hub in Anderson, South Carolina, in partnership with Krut LED LLC to serve North American projects.
- March 2025: The Government of India has doubled the PLI budget earmarked for LEDs to INR 444.54 crore for FY 2025-26, signaling its commitment to persistent manufacturing incentives.
- February 2025: China imposed export license requirements on tungsten, indium, molybdenum, tellurium, and bismuth, thereby increasing input cost uncertainty for Indian LED manufacturers.
- February 2025: The Union Budget 2025 lowered the basic customs duty on consumer luminaires from 25% to 20% and introduced a 5% AIDC levy, marginally easing the landed cost.
India Indoor LED Lighting Market Report Scope
Agricultural Lighting, Commercial, Industrial and Warehouse, Residential are covered as segments by Indoor Lighting.| Lamps |
| Luminaires/ Fixtures |
| Residential |
| Commercial Offices |
| Retail Stores |
| Hospitality |
| Industrial Facilities |
| Healthcare and Education |
| Other Applications |
| New Installation |
| Retrofit Installation |
| Direct Sales |
| Wholesale Retail |
| E-commerce |
| By Product Type | Lamps |
| Luminaires/ Fixtures | |
| By Application | Residential |
| Commercial Offices | |
| Retail Stores | |
| Hospitality | |
| Industrial Facilities | |
| Healthcare and Education | |
| Other Applications | |
| By Installation Type | New Installation |
| Retrofit Installation | |
| By Distribution Channel | Direct Sales |
| Wholesale Retail | |
| E-commerce |
Market Definition
- INDOOR LIGHTING - It incorporates all LED based lamps and fixtures/luminaire that are used to illuminate indoor section of residential, commercial, industrial buildings and agricultural lighting. LED offers efficient brightness with higher durability in comparison to other lighting technology.
- OUTDOOR LIGHTING - It incorporates the LED lighting fixtures that is used for illumination for exterior/outdoor illumination. For instance, LED lighting fixtures used to illuminate streets and highways, transport hubs, stadiums and other public places such as parking spaces.
- AUTOMOTIVE LIGHTING - It refers to the lighting fixtures installed for illumination and signaling purposes. It is used in both exterior and interior lighting of the vehicle. Headlamps, fog lamp, daytime running light (DRLs) are examples of exterior light whereas cabin light are interior lights.
- END USER - It refers to the end use application area where the LED fixture will be installed. For instance, in terms of indoor lighting, we have residential, commercial and industrial as end user category. For automotive lighting, primary end user considered are automotive manufacturers and aftermarket sale
| Keyword | Definition |
|---|---|
| Lumen | Lumen is a unit of luminous flux in the International System of Units that is equal to the amount of light given out through a solid angle by a source of one-candela intensity radiating equally in all directions. |
| Footcandle | A foot-candle (or foot-candle, fc, lm/ft2, or ft-c) is a measurement of light intensity. One foot-candle is defined as enough light to saturate a one-foot square with one lumen of light. |
| Colour Rendering Index (CRI) | Color Rendering Index (CRI) is a measurement of how natural colors render under an artificial white light source when compared with sunlight. The index is measured from 0-100, with a perfect 100 indicating that colors of objects under the light source appear the same as they would under natural sunlight. |
| Luminous flux | Luminous flux is a measure of the power of visible light produced by a light source or light fitting. It is measured in lumens (lm). |
| Annual Energy Cost | Annual Energy Cost means the average daily energy consumption multiplied by 365 (days per year), expressed in kilowatt hour per year (kWh/a). |
| Constant voltage drivers | Constant voltage drivers are designed for a single direct current (DC) output voltage. Most common constant voltage drivers (or Power Supplies) are 12VDC or 24VDC. An LED light that is rated for constant voltage usually specifies the amount of input voltage it needs to operate correctly. |
| Constant Current Driver | Constant current LED drivers are designed for a designated range of output voltages and a fixed output current (mA). LEDs that are rated to operate on a constant current driver require a designated supply of current usually specified in milliamps (mA) or amps (A). These drivers vary the voltage along an electronic circuit which allows current to remain constant throughout the LED system. |
| Minimum Energy Performance Standards (MEPS) | Minimum Energy Performance Standards specify the minimum level of energy performance that appliances and equipment must meet or exceed before they can supply or used for commercial purposes. |
| Luminous Efficacy | Luminous efficacy is a measurement commonly used in the lighting industry that indicates the ability of a light source to emit visible light using a given amount of power. |
| Solid State Lighting | Solid-state lighting (SSL) is a type of lighting that uses semiconductor light-emitting diodes (LEDs), organic light-emitting diodes (OLED), or polymer light-emitting diodes (PLED) as sources of illumination rather than electrical filaments, plasma (used in arc lamps such as fluorescent lamps), or gas. |
| Rated Lamp Life | Lamp life, also referred to as rated life, is the time in hours a lamp will last before a percentage of lamps will burn out. |
| Color Temperature | Colour temperature is a scale that measures how ‘warm’ (yellow) or ‘cool’ (blue) the light from a particular source is. It is measured in degrees of the Kelvin scale (abbreviated to K), and the higher the number, the ‘cooler’ the light. The lower the ‘K’ number, the ‘warmer’ the light. |
| Ingress Protection rating (IP rating) | The IP (Ingress Protection) rating of a bulb or light fixture declares the level of protection it has against dirt and water. |
| Fidelity Index | The general colour fidelity index, Rf, represents how closely the colour appearances of the entire sample set are reproduced (rendered) on average by a test light as compared to those under a reference illuminant. |
| Gamut Index | The gamut area is defined as “the area enclosed by a set of test color samples illuminated by a light source, in a two-dimensional chromaticity diagram or a plane of color space.”1 Within a defined color space, a “gamut” describes the subset of colors that can be perceived under specific lighting conditions. |
| Binning | In the lighting industry, the act of "binning" of LEDs is the process of sorting LEDs by certain characteristics, such as color, voltage, and brightness. |
| Accent lighting | Accent lighting, also called highlighting, emphasizes objects by focusing light directly on them. Accent lighting is used inside and outside the home to feature locations such as an entrance or to create dramatic effects. |
| Dimmable driver | A dimming driver has two functions: As a driver, it converts the 230V AC mains input to a low voltage DC output. As a dimmer, it reduces the amount of electrical energy flowing to the LEDs, thereby causing them to dim. |
| Flicker | Flicker is the repeated and frequent variation in the output of a light source over time. |
| Fluorescent | A property of materials defined as the ability to emit light after absorbing electromagnetic radiation such as visible or UV light. |
| Candela | The candela is the unit of luminous intensity in the International System of Units. It measures the light output per unit solid angle emitted from a light source in a specific direction. |
| LUX | Lux is used to measure the amount of light output in a given area - one lux is equal to one lumen per square meter. It enables us to measure the total "amount" of visible light present and the intensity of the illumination on a surface. |
| Uniformity (U0) | The uniformity of lighting has significant effects on visual performance in both indoor and outdoor areas. Uniformity (represented as U0) value can be found by dividing the minimum brightness (Emin) resulting from calculations according to the current lighting order, to the average brightness value (Eavg). |
| Visible Light Spectrum | The visible light spectrum is the segment of the electromagnetic spectrum that the human eye can view. More simply, this range of wavelengths is called visible light. Typically, the human eye can detect wavelengths from 380 to 700 nanometers. |
| Ambient Temperature | Ambient Temperature is the temperature of the air surrounding an electrical enclosure. |
| Current-controlled dimming control | Current-controlled dimming controls LED brightness by varying the applied current using a 0-10V dimmer. Current-controlled dimming is smooth and HD-video friendly. It can only dim to a minimum of 5% of light output. |
| Design Light Consortium | It is a partnership of energy efficiency stakeholders in the United States and Canada to “promote quality, performance and energy efficient lighting solutions for the commercial sector”. |
| Pulse Width Modulation | Pulse-width modulation, or pulse-duration modulation, is a method of controlling the average power delivered by an electrical signal. |
| Surface Mounted Device | A surface mount device (SMD) is an electronic device whose components are mounted or placed directly on the surface of a printed circuit board. |
| Alternating Current | Alternating current is an electric current which periodically reverses direction and changes its magnitude continuously with time, in contrast to direct current, which flows only in one direction. |
| Direct Current | Direct current (DC) is an electric current that is uni-directional, so the flow of charge is always in the same direction. |
| Beam Angle | Beam angle (also called beam spread) is a measure of how light is distributed. On any plane perpendicular to the centerline of the light, the beam angle is the angle between two rays where the light intensity is 50% of the maximum light intensity. |
| LED Based Solar High Mast Lighting Systems | A Solar LED High Mast Light is a raised source of High illumination lights (6~8 lights) and with high intensity on the middle of major junctions (Ring roads, Outer Ring roads), turned on or lit automatically in the absence of light (at specified timings or at periodic times, every night). |
| Surface Mounted Diode (SMD) LEDs | A surface mount diode is a type that emits light and is flat mounted and soldered onto a circuit board. |
| Chip on Board (COB) LEDs | A COB LED is basically multiple LED chips (usually 9 or more) glued directly onto a substrate by the manufacturer to form a single module. |
| Dual In-Line Package (DIP) LEDs | A dual in-line package (DIP or DIL) is an electronic component package with a rectangular case and two parallel rows of electrical connector pins. |
| Graphene LED Lights | A graphene LED light bulb is simply an LED light bulb where the filament has been coated in graphene. A graphene LED bulb is reported to be 10% more efficient than regular LED light bulbs and they are cheaper to manufacture and buy. |
| LED Corn Bulbs | LED Corn lights are designed as an energy efficient alternative to high intensity discharge (HID) and SON lamps. It uses a large number of LEDs on a metal structure to provide sufficient light. This arrangement of LEDs looks a lot like a corn cob, hence the name "corn light". |
| Per Capita Income | Per capita income or total income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size. |
| Charging Stations | A charging station, also known as a charging station or electric vehicle utility, is a power supply that provides electrical energy for charging plug-in electric vehicles. |
| Headlight | A headlight is a light that is mounted on the front of a car and illuminates the road in front of it. Low beam and high beam LED headlights are additional categories for these LED headlights. |
| Day Time Running Light (DRLs) | A daytime running lamp is a white, yellow, or amber lighting device mounted on the front of a road-going motor vehicle or bicycle. |
| Directional Signal Light | Directional signal lights are the front and rear lights on an automobile that flash to show the direction of a turn. |
| Stop Light | A red light that is mounted to the back of a car and turns on when the brakes are used to show that the car is stopped. |
| Reverse Light | The reverse light is at the back of the vehicle to indicate its backward motion. |
| Tail Light | A red light that can be seen in the dark is mounted on the rear of a road vehicle. Stop, reverse, and directional signal lights are all part of it. |
| Fog Light | Bright lights in automobiles used to increase visibility on the road in foggy conditions or to warn other drivers of the presence of the vehicle. |
| Passenger Vehicle | A passenger vehicle is a road vehicle, other than a moped or a motorcycle, intended for the transportation of people and designed for up to 8 to 9 seats. |
| Commercial Vehicle | A commercial vehicle (Bus, Truck, Van) is any type of motor vehicle used to transport goods or pay passengers. |
| Two Wheelers (2W) | A two-wheeler is a vehicle that runs on two wheels. |
| Streets & Roadways | Both roads and streets refer to hard, flat surfaces on the ground on which vehicles, people, and animals can travel. Since streetways are usually in cities and towns, they often have houses and buildings on both sides. The roadway is in the countryside and sometimes passes through forests and fields |
| Horticulture Lighting | Horticulture is the science and art of sustainably growing, producing, marketing and using high quality, intensively cultivated food and ornamental plants. |
Research Methodology
Mordor Intelligence has followed the following methodology in all our data center reports.
- Step 1: Raw Data Collection: To understand the market, initially, all crtical data points were identified. Critical information about countries and regions of interest including Per-capita Income, Population, Automotive Production, Interest rate on Auto-Loans, Number of Automobiles on Road, Total LED Import, Lighting Electricity Consumption among others were recorded or estimated based on internal calculations.
- Step 2: Identify Key Variables: To build a robust forecasting model, key variables such as Number of Households, Automotive Production, Road Networks among others were identified. Through an iterative process, the variables required for the market forecast were set, and the model was built using these variables.
- Step 3: Build a Market Model: Based on data and critical industry trend data (variables), including LED pricing, LED penetration rate, and project macro and micor economic factors were utilized for building the market forecasting.
- Step 4: Validate and Finalize: In this crucial step, all market numbers and variables derived through an internal mathematical model were validated through an extensive network of primary research experts from all the markets studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step 5: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
