LED lights will alone account for about 60 per cent of the overall lighting industry by 2020
Electric Lamp and Component Manufacturers Association of India (Elcoma), the light emitting diode (LED) market, valued at Rs 1,925 crore in 2013, has been growing over 40 per cent, and is likely to hit Rs 21,600 crore by 2020.
Chennai: India’s LED light industry is shining brightly thanks to growing awareness among the public at large and the various energy conservation initiatives of the government.
According to the Electric Lamp and Component Manufacturers Association of India (Elcoma), the light emitting diode (LED) market, valued at Rs 1,925 crore in 2013, has been growing over 40 per cent, and is likely to hit Rs 21,600 crore by 2020. LED lights will alone account for about 60 per cent of the overall lighting industry by 2020, showed Elcoma data.
Havells president Sunil Sikka says, “The lighting industry is shifting towards LEDs as it is more energy efficient than incandescent lamps and CFLs.” An LED bulb consumes only half the energy of a CFL, but gives double lumen/watt than a normal CFL lamp. It is nine times power efficient a than a GLS (incandescent) lamp. “LED is very sustainable,” pointed out Arun Gupta, CMD of NTL Group, adding, “If you replace an LED with a CFL lamp, you can save 53 watt of energy and Rs 30 worth electricity a month.” Thanks to the bullish phase, LED lighting companies are experiencing high revenue growth.
“Two years ago, only 22 per cent of revenue of our lighting business was from LED, now, its 40 per cent and is growing at a rate of 40-50 year-on-year,” said Mr Sikka. Mr Gupta said the NTL is targeting to achieve 50 per cent of their lighting business revenue from LED this financial year.
To tap the boom, industry players are also innovating the technology and investing in R&D of LEDs. “A lot of changes are happening in the industry in terms of technology,” said Sumit Joshi, Head – Marketing, Philips Lighting India.
( Source : dc )
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