India Light Emitting Diodes (LEDs) Market 2021 Industry Growth Rate, Top Companies, Emerging Technologies, Company Profiles with Strategies, Sales and Revenues, Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for India Light Emitting Diodes (LEDs) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for India Light Emitting Diodes (LEDs) Market products.

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India Light Emitting Diodes (LEDs) Market – Drivers, Opportunities, Trends & Forecasts: 2016–2022

The emerging technologies have been changing the lighting industry over the past decades, which covers the movement from halogen lamps to incandescent bulbs to Light Emitting Diodes (LEDs). The developing economies which have been lagging behind the developed economies in terms of technological acceptance level are now being considered among the target markets for new product launches.

Indian lighting market has been witnessing a shift from traditional light sources to non-conventional products such as LEDs. Although, the product manufacturing companies still have to rely heavily on imports for LEDs supply, yet the market is witnessing high growth owing to government support in terms of favorable import policies and subsidies in the consumer segment. A similar trend has also been witnessed in other LEDs product markets as well where LED displays are replacing the traditional displays and LED sign boards are replacing conventional boards changing the ways the marketing is being done.

The study of Indian LEDs market provides the market size information and market trends along with the factors and parameters impacting in both short and long term. The study also covers the competitive scenario of the market with respect to the raw material availability, major players with their branding strategies, and differentiating factors among others. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business.

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According to Infoholic Research, Indian LEDs market is expected to grow at a CAGR of 32.0% during the forecast period 2016–2022 to reach $3.4 billion by 2022. Lighting segment is expected to contribute the largest contribution towards the growth whereas the highest growth is expected from mobile devices segment which is expected to be benefitted by technological development, decreasing LEDs price and increasing disposable income of Indian consumers.

Improving standard of living with developing economy along with decreasing LEDs price is resulting in increasing affordability of LED products, providing potential for market growth via replacement of traditional light sources. Further, market penetration for LED products is continuously increasing, driven by increasing literacy levels and technological awareness. Many international players have established their manufacturing set-ups in India in order to reap benefits of growing Indian market. Some of the prominent players in Indian LED market are OSRAM India Pvt. Ltd., Kwality Photonics Pvt. Ltd., Havells India Limited, and SYSKA LED Ltd. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.

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About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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