The lighting market in India is currently passing through a phase of transition from conventional lighting to energy efficient LEDs. Serving the fast growing needs of residential lighting to industrial lighting and office space lighting to street lighting— LEDs have become most popular among the consumers due to a wide range of benefits and opportunities they offer. The most striking benefit offered by the LED lights is that they can be customized to illuminate any shape as per the requirements of the users. Moreover, LED lights have been widely accepted among the consumers, since they consume 80%-90% less power than the usual incandescent bulbs.
Looking at the ever widening gap between electricity generation and demand in India, the market for the energy efficient LED lights is here to grow manifold in the coming years. As per a recent report, LED lighting market in India is projected to register a CAGR of over 30 per cent during 2016-2021.
Recent government initiatives like ‘Make In India’, ‘Housing For All’ and ‘Smart Cities Projects’ are equally being instrumental in driving the growth in LED sector. Particularly, Make In India is a wonderful initiative by the Government, which has considerably reduced the dependency on imports in LED lighting sector. To promote large scale adoption of LED lighting in India, the government has also introduced many schemes like LED bulb distribution under domestic efficient lighting programme, National Programme for LED-based Home and Street Lighting, distribution of free LED bulbs in rural areas under Ujala Scheme. All these initiatives have led to a significant growth in demand for LED lights in India.
However, there still exist many challenges that need to be addressed to achieve the desired objective of sustained growth in Indian LED lighting sector. The industry is currently facing challenges like absence of standards, high cost of manufacturing, lack of awareness and presence of sub-standard Chinese products which degrade the quality of market.
Committed to transform India into a global manufacturing and export hub of superior, but economical LED products, Halonix Technologies is participating in Make In India movement in a big way. Aimed at boosting the growth in technology and innovations in LED segment, we have already expanded our unparalleled ability to develop test and deploy lighting solutions relevant and suitable for Indian conditions. Halonix is also contributing in Smart Cities Projects with its Smart Street Lighting Solutions. We are providing smart street lighting solutions in such a way that a user can control and monitor the individual street lights and Group of street lights remotely from any place in the world with respect to installation site of street lights.
We at Halonix Technologies believe that increased industrial participation in government’s initiatives will further encourage the use of LED lights in India. According to Electric Lamp and Component Manufactures Association (ELCOMA) of India, LED market in India is all set to grow to 216 billion rupees by 2020. In terms of growth in demand and consumption over the next three to five years, LED lighting market is pegged at around Rs12000 crore to Rs 15000 crore in India and we see it as a huge opportunity and believe that LED lighting sector is moving towards a much impressive future ahead.