India's LED lighting market expands: the overall annual growth rate reaches 41.5%
As the global LED market continues to expand, the Indian LED market is also growing rapidly, becoming one of the most influential LED markets. Before 2011, the average annual growth rate of the Indian LED market was over 10.2%. The Indian LED product market is mainly distributed in industries such as automobiles, consumer electronics, communications, computers and lighting.
India LED lighting market space: the overall annual growth rate will be 41.5%
India is the sixth largest energy consumer in the world, accounting for 3.4% of global energy consumption. In fact, per capita consumption in India was already very high by 2006. In 2006, the average annual electricity output increased to 68 billion kWh. 75% of the electricity consumed in India came from thermal power plants, 21% came from hydroelectric power plants, and 4% came from nuclear power generation. Although we have launched many beneficial rural electrification projects, there are still 400 million Indian citizens who will lose their power supply during a large-scale blackout. 80% of the citizens have only one power transmission line.
With India’s rapid urbanization and industrialization progress, India’s demand for electricity has surged, and consumption has also increased dramatically. The electricity load of lighting accounts for 12% in India. If it is converted into carbon dioxide release, the total energy consumption for thermal power will cause 52.5 billion tons of carbon dioxide to be emitted only for lighting. Therefore, the demand for LEDs with energy-saving and environmental protection characteristics is growing. According to data, if 25% of the electricity load of India's lighting system can be converted into LED lighting load, carbon dioxide emissions can be directly reduced by 25%, which is equivalent to that in India every year. The output value is about 1.3 billion euros, which is a huge market.
It is reported that the overall annual growth rate of the LED lighting market in India will be 41.5% until 2015. In 2009, it was only 49 million US dollars, which also represents 3.1% of the lighting market, which also means market space and potential.
Indian LED product demand mainly depends on imports
India’s demand for LED products is mainly dependent on imports. In 2004, India’s LED imports amounted to US$64.7 million. In 2005, the value of imports increased to US$71.23 million. In 2006, the value of LED imports reached US$88.5 million, an annual growth rate of over 11.93%. India is expected to exceed US$1 billion in 2010, with an annual growth rate of over 12%. It is one of the emerging markets with considerable development potential in the global LED market.
India LED lighting is mostly used outdoors, indoors still need market cultivation
It is understood that in the Indian market, LED lights in India are now mainly used outdoors. On many streets or monuments, the outdoor use of LEDs is more common in India. At the same time, we can also see that the LED lighting market in India is subject to some restrictions: First, the price is too high, and the price of LEDs has to drop at least 3 times. In fact, many LED lights can be directly replaced on other fluorescent lights, but the price is much more expensive, and many people are unwilling. Therefore, to enter the civilian market, LED products must be affordable to residents. There is another aspect, consumer awareness is still relatively low, and the government and the public need to know that LED is a low-energy luminaire.
