Frost and Sullivan Projects that Indian LED Lighting Market Will Grow at a CAGR of 45.53 Percent Till 2015

    December 13, 2011...&Frost and Sullivan estimates that in India, the LED lighting market is expected to grow at a compound annual growth rate of 45.53 percent till 2015. According to Frost and Sullivan, the fledgling LED lighting industry in India had total revenues of only USD$ 73.3 million. However, massive increases are expected in the industry over the coming years. The growth is attributed to short-term drivers including street light applications and the railway sector. The company says that over 60 percent of the total demand in 2012 will be attributed to these two applications. 

    Frost Sullivan asserts that LED lighting is expected to grow in India significantly in the future, replacing traditional lighting technologies, but its penetration largely depends on standardization, government support, awareness, and affordability. Frost and Sullivan point outs that LED lighting installations require more complicated designs, spanning optical, thermal, and electronics domains. Furthermore, LED lamps continue to be quite expensive compared to conventional lamps; they rely on imports, as current economies of scale prevent indigenous manufacturing. Frost and Sullivan says that absence of uniform standards for different applications is also restraining LED adoption and is paving the way for sub-standard cheaper imports to flood the market.