December 02, 2019
According to the latest study titled ‘India Architectural Lighting Market: By Type (Traditional Lighting, LED Lighting and Others), By End Use (Residential, Commercial, Industrial and Others), By Region (North, West, South and East) : Opportunities and Forecast (2017-2022)’ available at MarketStudyReport.com, the India architectural lighting market is estimated to grow with a CAGR of 5.78% through the year 2022.
India architectural lighting market is projected to showcase accelerated grow in the upcoming years on account of rapid urbanization and rising disposable income. Young consumers in India are inclining towards long life LEDs which tend to reduce the maintenance cost and lower energy wastage. As a result, the architectural lighting manufacturers are focused on proposing economical yet innovative products in the market, thereby, propelling the growth of India architectural lighting market.
Additionally, increasing cognizance towards the benefits of architectural lighting solutions will continue to augment the industry trends. The study encompasses details about market size based on revenue shares and growth opportunities for individual segments. It analyzes the competitive landscape of India architectural lighting market using SWOT analysis and Porter’s Five Force analysis methods. Information about the market dynamics covering drivers and restraints is also outlined in the report.
Based on type, India architectural lighting market is segmented into LED lighting, traditional lighting, and others. The study cites that products such as CFL from the traditional lighting segment held the largest market share in 2016, whereas LED lighting segment is presumed to dominate the market in the upcoming years, owing to declining prices of LEDs as well as rising environmental cognizance among Indian consumers.
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Speaking of end use spectrum, the industry is split into commercial, residential, industrial and others. Considering the geographical landscape, India architectural lighting market is fragmented into regions, namely, East India, West India, North India, and South India. As per the report, North and South India emerged as significant revenue generators in 2016. However, India architectural lighting market is presumed to be highly competitive due to the presence of domestic as well as international competitors across the nation.
Some of the vendors that operate in India architectural lightning market are Bajaj Electricals, Philips Lighting India Limited, Osram India Limited, Crompton, Havells India Limited, and Wipro Lighting.
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