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Indian lighting market has seen buoyancy in lighting products recently. The demand for energy efficiency has brought forward an immediate need for more energy efficient products and also has pushed market towards more efficient products such as Light Emitting Diode (LEDs).
LED technology has been globally recognised as extremely efficient and ecofriendly in comparison to the Incandescent Lamps (ICLs) and florescent lamps (FTLs, CFLs). Penetration of LEDs in India could significantly reduce lighting load, peak demand and overall energy consumption .
The Indian LED market is anticipated to grow at 54% till 2014. The efficacy of LEDs is expected to double in the next 20 years. By 2031, more than 80 per cent of the lighting market will be captured.