Market Size of india indoor led lighting Industry
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 3.03 Billion |
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Market Size (2030) | USD 4.27 Billion |
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Largest Share by Indoor Lighting | Industrial and Warehouse |
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CAGR (2024 - 2030) | 5.90 % |
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Fastest Growing by Indoor Lighting | Agricultural Lighting |
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Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Indoor LED Lighting Market Analysis
The India Indoor LED Lighting Market size is estimated at 3.03 billion USD in 2024, and is expected to reach 4.27 billion USD by 2030, growing at a CAGR of 5.90% during the forecast period (2024-2030).
3.03 Billion
Market Size in 2024 (USD)
4.27 Billion
Market Size in 2030 (USD)
4.39 %
CAGR (2017-2023)
5.90 %
CAGR (2024-2030)
Largest Segment by Indoor Lighting
58.01 %
value share, Industrial and Warehouse, 2023
Annual exports of USD 447.46 billion were recorded, with 6.03% growth, during FY23, surpassing the previous year's record exports of USD 422 billion.
Largest Segment by Commercial
56.65 %
value share, Office, 2023
India's startup boom contributed significantly to the development of the commercial real estate market zone, leading to a dramatic increase in the absorption rate of office space.
Fastest-growing Segment by Indoor Lighting
7.19 %
Projected CAGR, Agricultural Lighting, 2024-2030
The increasing investments and new government initiatives in horticulture and vertical farming will promote agriculture and lighting in the coming years.
Fastest-growing Segment by Commercial
4.12 %
Projected CAGR, Office, 2024-2030
The foreign investments in the office sector increased to USD 10.3 billion during 2017-2021, compared to USD 3.2 billion in the preceding five-year period.
Leading Market Player
2.64 %
market share, Surya Roshni Limited, 2022
Surya Roshni Limited holds the majority of the market share in India. LED revenue grew by 29% and 48% Y-o-Y during Q2 of FY23 and H1 of FY23, respectively, backed by value-added products like LED battens and downlighters.
Increasing development in the industrial sector and increase in the number of residential houses to drive the growth of the LED lighting market
- In terms of value share, industrial and warehouse will have the largest share (58%) in 2023, followed by residential (24.4%), commercial (15.2%) and agricultural lighting (2%). India is on track to become a major manufacturing hub in the world, with the ability to export USD 1 trillion worth of goods by 2030. Further, the implementation of various programs and policies, such as the National Manufacturing Policy, which aims to increase the manufacturing share of GDP to 25% by 2025. The effort is aimed at further accelerating the development of the core manufacturing industry. Demand for industrial lighting has grown steadily in warehousing, logistics, and industrial operations. For example, the Warehousing, Industry, and Logistics (WIL) sector is expected to be crucial to realizing India's vision of becoming a USD 5 trillion economy by FY2025. These factors are increasing sales of LED lighting in domestic warehouses and industries.
- In terms of volume share, residential lighting will have the largest share (68%) in 2023, followed by commercial (28.4%), industrial and warehouse lighting (2%), and agricultural lighting (2%). The average household size, including all registrants nationwide, in 2022 was 4.4, leading to an increase in private households and homeowners. Over 50% of people in India live in their own homes, nearly 30% live in rented houses, and 13% live in their parents' homes. In addition, the Indian real estate sector has recently experienced significant growth due to increased demand for office and residential space. Home sales in seven Indian cities increased by 29% in Q4 FY2021, with new listings up 51% compared to Q4 FY2020. These developments cater to the need for LED lights in houses.
Understand The Key Trends Shaping This Market
India Indoor LED Lighting Industry Segmentation
Agricultural Lighting, Commercial, Industrial and Warehouse, Residential are covered as segments by Indoor Lighting.
- In terms of value share, industrial and warehouse will have the largest share (58%) in 2023, followed by residential (24.4%), commercial (15.2%) and agricultural lighting (2%). India is on track to become a major manufacturing hub in the world, with the ability to export USD 1 trillion worth of goods by 2030. Further, the implementation of various programs and policies, such as the National Manufacturing Policy, which aims to increase the manufacturing share of GDP to 25% by 2025. The effort is aimed at further accelerating the development of the core manufacturing industry. Demand for industrial lighting has grown steadily in warehousing, logistics, and industrial operations. For example, the Warehousing, Industry, and Logistics (WIL) sector is expected to be crucial to realizing India's vision of becoming a USD 5 trillion economy by FY2025. These factors are increasing sales of LED lighting in domestic warehouses and industries.
- In terms of volume share, residential lighting will have the largest share (68%) in 2023, followed by commercial (28.4%), industrial and warehouse lighting (2%), and agricultural lighting (2%). The average household size, including all registrants nationwide, in 2022 was 4.4, leading to an increase in private households and homeowners. Over 50% of people in India live in their own homes, nearly 30% live in rented houses, and 13% live in their parents' homes. In addition, the Indian real estate sector has recently experienced significant growth due to increased demand for office and residential space. Home sales in seven Indian cities increased by 29% in Q4 FY2021, with new listings up 51% compared to Q4 FY2020. These developments cater to the need for LED lights in houses.
| Indoor Lighting | |||||
| Agricultural Lighting | |||||
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| Industrial and Warehouse | |||||
| Residential |
Need A Different Region Or Segment?
India Indoor LED Lighting Market Size Summary
The India Indoor LED Lighting Market is poised for significant growth, driven by the country's ambition to become a major manufacturing hub and its increasing focus on energy efficiency. The market is characterized by a diverse range of applications, with industrial and warehouse lighting holding the largest value share, followed by residential, commercial, and agricultural lighting. The demand for LED lighting is bolstered by the expansion of the warehousing, logistics, and industrial sectors, which are integral to India's economic vision. The government's initiatives, such as the National Manufacturing Policy, aim to enhance the manufacturing sector's contribution to GDP, further propelling the demand for energy-efficient lighting solutions. The residential sector also shows a robust demand for LED lighting, fueled by the growth in private home ownership and the burgeoning real estate market.
The market landscape is competitive and fragmented, with key players like Crompton Greaves Consumer Electricals Limited, Havells India Ltd., Signify (Philips), Surya Roshni Limited, and Wipro Lighting Limited leading the charge. These companies are actively innovating and expanding their product offerings to meet the growing demand for energy-efficient lighting solutions. Initiatives like the Unnat Jyoti by Affordable LEDs for All (UJALA) program have significantly contributed to the market's expansion by promoting LED adoption and achieving substantial energy savings. The increasing penetration of LEDs is also supported by the rise in disposable incomes and urban migration, which drive the need for modern lighting solutions. As India continues to enhance its infrastructure and energy efficiency, the indoor LED lighting market is expected to witness sustained growth, aligning with the country's broader economic and environmental goals.
India Indoor LED Lighting Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Indoor Lighting
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1.1.1 Agricultural Lighting
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1.1.2 Commercial
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1.1.2.1 Office
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1.1.2.2 Retail
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1.1.2.3 Others
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1.1.3 Industrial and Warehouse
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1.1.4 Residential
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India Indoor LED Lighting Market Size FAQs
How big is the India Indoor LED Lighting Market?
The India Indoor LED Lighting Market size is expected to reach USD 3.03 billion in 2024 and grow at a CAGR of 5.90% to reach USD 4.27 billion by 2030.
What is the current India Indoor LED Lighting Market size?
In 2024, the India Indoor LED Lighting Market size is expected to reach USD 3.03 billion.
