Projected Growth of Indian LED Lighting Market at 19.35% CAGR

The Indian LED lighting market is poised for significant growth, with an expected increase from USD 5.0 billion in 2024 to USD 26.7 billion by 2033, reflecting a compound annual growth rate (CAGR) of 19.35%. This growth is fueled by government initiatives such as the UJALA scheme, rising urbanization, and heightened consumer awareness of energy efficiency. The shift toward energy-saving LED technologies is transforming the market, as manufacturers innovate with smart lighting solutions and various luminaire types tailored for specific applications. The landscape is evolving, emphasizing domestic manufacturing and quality, while competition remains intense among key players like Signify NV, Surya Roshni, and Bajaj Electricals. Increasing reliance on technologically advanced lighting solutions signals a maturing market poised for further advancements.

Projected Growth of Indian LED Lighting Market at 19.35% CAGR

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