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How big are the business opportunities in the Indian LED lighting market

Views: 0     Author: Site Editor     Publish Time: 2021-02-22      Origin: Site


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How big are the business opportunities in the Indian LED lighting market

India, an ancient and magical country, the winding Ganges water nourishes 1.3 billion people. The demographic dividend brought strong domestic demand and active manufacturing, making it one of the fastest growing countries in the world. In sharp contrast to the eye-catching economic growth rate, the country’s infrastructure is still very weak, with more than 80 million people still using kerosene lamps, and 70% of roads have not yet been equipped with street lights. Coupled with India's mysterious and complicated religious beliefs and culture, it is really an incredible country. India may become the largest LED lighting system market, led floodlight, street light, highbay, panel light are popular. While the global economy is still in the doldrums, the rapid growth of the Indian economy is quite eye-catching. As an emerging market with deep potential, it has attracted many leading international manufacturers to start offensive and use it as the next production base. International lighting giants OSRAM and Philips both set up R&D centers or manufacturing plants in India. According to the foreign media "The Times of India" report, thanks to the UJALA plan proposed by the Modi government, that is, the plan to replace all low-efficiency bulbs with high-efficiency energy-saving lamps, India is expected to stand out and become the largest LED lighting system market. Huge domestic demand and energy-saving renovation projects have given India's LED lighting market a momentum of rapid growth. In 2015, the market size has reached 924 million U.S. dollars. The research report pointed out that the LED lighting market reached 1.14 billion U.S. dollars in 2016, an annual growth of 47.1%. It is estimated that it will climb to US$1.715 billion in 2020. Foreign research institute TechSci said that in the foreseeable future, perhaps 3-5 years, India will realize the localized manufacturing of LED lighting sources (the establishment of factories in India by Chinese, Taiwanese and other companies is also counted as localized manufacturing), which will be transferred from the importing country. As an exporting country, China's meager profits on LED light source products will be further squeezed. In the foreseeable future, India may become the biggest competitor of China's lighting products. India LED lighting exports to India data analysis Chunjiang plumbing duck prophet, Chinese LED lighting lighting companies have long seen the potential of the Indian lighting market, and have occupied the market with a surge in exports year by year. According to Chinese customs data, the growth rate of my country’s total exports of LED lighting products to India has been at a rapid growth rate from 2011 to 2015. In 2015, my country’s exports to India’s LED lighting products totaled US$200 million, an increase of 42.1% over the same period in 2014. And data show that from January to December 2015, among India's LED lighting product importing countries, China ranked first with 75.4% of imports. From the analysis of export quantity and unit price, my country's LED lighting products exported to India show a phenomenon of increase in volume and decrease in price. In 2015, the number of LED lighting products exported from my country to India was 85.16 million (pieces\pcs\sets), an increase of 94.6% compared to the same period in 2014, and the unit price was US$1.7/piece (pieces\sets), a decrease of about 23.7% compared with 2014. It is understood that in order to indirectly protect the domestic manufacturing industry, the Bureau of Standards of India has been preparing a certification program since 2000 to restrict the import of LED products. Since the end of 2015, the Indian government has mandated that when certain commodities are imported from China or other countries, certain commodities for import and export declarations need to pass BIS certification. These commodities include LED lighting products and a few other electronic products. In addition, the Bureau of Energy Efficiency (BEE) of India has also launched an energy efficiency rating label. According to the plan launched by BEE in early July, before the end of December 2016, Indian LED manufacturers can voluntarily adopt the energy efficiency label developed by it. Thereafter, the government will mandate manufacturers to mark energy efficiency labels on LED products. In addition to the aforementioned protection policies, the Indian government is vigorously supporting local companies. The government procurement case will provide 50% of the quantity to local LED-related lighting product manufacturers. In the future, the market share of local manufacturers will increase. To a certain extent, it will reduce the dependence on China's LED lighting products. However, the Indian LED lighting market is in an early stage of growth, and the local supply chain is not complete. For example, the lack of upper and midstream industry chains for LED chips and LED packaging are all dependent on imports. It is difficult to change in a short period of time. Therefore, the current situation for Chinese LED lighting manufacturers Said it is still very promising.

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