Market Size of india led lighting Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 4.70 Billion |
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Market Size (2030) | USD 6.77 Billion |
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Largest Share by Indoor Lighting | Industrial and Warehouse |
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CAGR (2024 - 2030) | 6.29 % |
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Fastest Growing by Indoor Lighting | Agricultural Lighting |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India LED Lighting Market Analysis
The India LED Lighting Market size is estimated at 4.70 billion USD in 2024, and is expected to reach 6.77 billion USD by 2030, growing at a CAGR of 6.29% during the forecast period (2024-2030).
4.70 Billion
Market Size in 2024 (USD)
6.77 Billion
Market Size in 2030 (USD)
4.80 %
CAGR (2017-2023)
6.29 %
CAGR (2024-2030)
Largest Segment by Automotive Utility Lighting
34.90 %
value share, Headlights, 2023
The total sales of LED in this category were expected to reach 185.7 million by the end of 2023. The advantage of LED lights is that they are highly efficient, and last longer.
Largest Segment by Automotive Vehicle Lighting
44.55 %
value share, 2 Wheelers, 2023
The volume of LED penetration in this category was expected to reach 68.7 million by the end of 2023. The domestic motorcycle industry posted double-digit Y-o-Y growth during 2022-23.
Largest Segment by Indoor Lighting
58.01 %
value share, Industrial and Warehouse, 2023
The total sales of LED in this category were expected to reach 1681.8 million by the end of 2023. Industrial and warehousing absorption increased by 6% to 46.3 million square feet in 2022.
Largest Segment by Outdoor Lighting
74.79 %
value share, Streets and Roadways, 2023
The volume of LED penetration in this category was expected to reach 68.8 million. India's road network is the second-largest in the world, with a length of 63.73 million kilometers.
Leading Market Player
3.72 %
market share, Havells India Ltd., 2022
Havells has 14 highly automated production facilities in India which have been certified with ISO 9001, 14001, 4500 and 50001, as well as international product certification from Kema IEC, CBIEC, ESMA, Soncap, CSA SIRIM.
Increasing developments in the industrial category and increase in the number of residential houses to drive the growth of the LED lighting market
- In terms of value share, the industrial and warehouse segment was expected to have the largest share (58%) in 2023, followed by residential (24.4%), commercial (15.2%), and agricultural lighting (2%). India is on track to become a major manufacturing hub in the world with its aim to export USD 1 trillion worth of goods by 2030. Furthermore, the implementation of various programs and policies, such as the National Manufacturing Policy, which aims to increase the manufacturing share of GDP to 25% by 2025, may also facilitate the market. The effort is aimed at accelerating the development of the core manufacturing industry. Demand for industrial lighting has grown steadily in warehousing, logistics, and industrial operations. For example, the Warehousing, Industry, and Logistics (WIL) category is expected to be crucial to realizing India's vision of becoming a USD 5 trillion economy by FY 2025. These factors are increasing sales of LED lighting in domestic warehouses and industries.
- In terms of volume share, residential lighting is expected to have the largest share (68%) in 2023, followed by commercial (28.4%), industrial and warehouse lighting (2%), and agricultural lighting (2%). The average household size, including all registrants nationwide, in 2022 was 4.4 people per household, leading to an increase in private households and homeowners. Over 50% of people in India live in their own homes, nearly 30% live in rented houses, and 13% live in their parents' homes. In addition, the Indian real estate industry has recently experienced significant growth due to increased demand for office and residential spaces. Home sales in seven Indian cities increased by 29% in Q4 FY 2021, with new listings up by 51% compared to Q4 FY 2020.
Understand The Key Trends Shaping This Market
