Outdoor LED Market in India to grow by USD 267.08 million from 2021 to 2026 | Growth driven by the growing demand for LED lighting for different applications - Technavio

News provided by

Aug 24, 2023, 12:15 ET

NEW YORK, Aug. 24, 2023 /PRNewswire/ -- The outdoor LED market in India is set to grow by USD 267.08 million from 2021 to 2026. However, the growth momentum will be progressing at a CAGR of 12.71% during the forecast period, according to Technavio. The outdoor LED market in India is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Bajaj Electricals Ltd., ERCO GmbH, Eveready Industries India Ltd., Havells India Ltd., Koninklijke Philips NV, Orient Electric Ltd., Panasonic Corp., Surya Roshni Ltd., Syska Led Lights Pvt. Ltd., and Wipro Ltd. are some of the major market participants -. To know about the vendor offerings - Request a sample report

Technavio has announced its latest market research report titled Outdoor LED Market in India

The outdoor LED market in India is fragmented, and the degree of fragmentation will accelerate. The growing demand for LED lighting for different applications will offer immense growth opportunities. However, the threats associated with counterfeit products will hamper the market growth.

Outdoor LED Market in India 2022-2026: Drivers & Challenges

One of the key drivers supporting the outdoor LED market growth in India is the growing demand for LED lighting for different applications. Because of increasing awareness of green technology and decreasing prices of LEDs, manufacturers of lighting products have started emphasizing energy-efficient and environment-friendly lighting solutions. The steady decline in the average selling price (ASP) of LED products is anticipated to have a positive influence on its penetration and market size, both in the residential and commercial sectors. The outdoor LED market in India also has a considerable number of LED product manufacturers like Havells India Ltd, SH Group, Inc, and Koninklijke Philips N.V. Such factors are anticipated to drive the growth of the outdoor LED market in India during the forecast period.

Threats associated with counterfeit products are the significant challenge hindering the outdoor LED market growth in India.

To learn more about the global trends impacting the future of market research, download a PDF sample

Outdoor LED Market in India 2022-2026: Segment Analysis

Application

Billboards
Video Walls
Perimeter LED Boards
LED Matrix Board
Others

Distribution channel

Offline
Online

Outdoor LED Market in India 2022-2026: Segmentation Highlights

This report extensively covers the outdoor LED market in India segmentation by application (billboards, video walls, perimeter LED boards, LED matrix board, and others) and distribution channel (offline and online).

The outdoor LED market share growth in India by the offline segment will be significant during the forecast period. Through offline distribution channels, outdoor LED product is largely sold which contain various retail formats such as specialty stores, hypermarkets, convenience stores, and departmental stores. Customers prefer purchasing outdoor LED products from retail stores as they deliver a broad range of products and provide essential support and information through expert customer service personnel. Such growing preferences will have a positive impact, this in turn drives the market growth during the forecast period.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

Outdoor LED Market in India 2022-2026: Key Highlights

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will assist outdoor LED market in India growth during the next five years
Estimation of the outdoor LED market in India size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behaviour
The growth of the outdoor LED market in India across APAC, North America, Europe, South America, and MEA
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of outdoor LED market in India vendors

Get Instant access to 17000+ market research report

Technavio's Subscription Platform

Related Reports:

The Global LED Lighting Market size is estimated to grow by USD 34.82 billion between 2022 and 2027 accelerating at a compound annual growth rate (CAGR) of 7.35%. This report extensively covers market segmentation by application (residential, commercial, outdoor, industrial, and others), product (luminaries and lamps), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The declining manufacturing cost of LED lights is notably driving market growth.

The outdoor landscape lighting market is estimated to grow at a CAGR of 6% between 2022 and 2027. The size of the market is forecast to increase by USD 704.78 million. This report extensively covers market segmentation by application (ATG and underwater), source (led and traditional), end-user (commercial and residential), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The growing demand for LED lighting for different applications is notably driving market growth.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Distribution channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio