Campaigns for conservation and increasing cost consciousness among consumers have resulted in spiraling demand for energy efficient lighting solutions. Consumers are looking for options to cut costs at every opportunity available. Escalating electricity bills was one of the main items on the agenda of a political party that won the Delhi assembly elections.
As the government pushes forward on its electricity conservation plan through distribution of subsidized LED bulbs, demand has really accelerated over the last 9 months. We predict that the annual sales (non-government) for the current year will stand at more than 60 million LED bulbs. Higher wattage LED bulbs, tube-lights and panel lights/ down-lighters are all growing at double digit rates on a m-o-m basis.
Market Pulse is closely tracking the retail market for LED lamps and luminaires through a nation-wide monthly research. Already, 5 leading companies are subscribing to this research to gain critical market insight.