India Lighting Fixtures Market Overview, 2029

Through the years, the Indian market for lightning fixtures has experienced significant expansion and change because of advances in technology, shifting customer tastes, and advancements in infrastructures. This industry is vital to both residential and business areas since it offers energy-efficient solutions and aesthetics in addition to lighting. The basic incandescent bulbs and tube lights that were primarily produced by a few local firms were the first fixtures to hit the Indian lighting fittings market. There was little product diversity and innovation, and the market was generally unorganized. Since the 1990s' economic reforms and liberalization encouraged growth, multinational corporations have been entering the Indian market and bringing modern technology and global standards with them. During this time, there was a trend towards more energy-efficient solutions, such CFLs, which became increasingly common because of their less power usage. With the development of LED (Light Emitting Diode) technology in the early 2000s, the Indian lighting fixtures market's evolution increased. The UJALA programme, among other government-sponsored energy-efficiency efforts, helped to accelerate the nationwide adoption of LED lighting. The objective of this programme was to encourage homes and businesses to transition to energy-efficient lighting by providing high-quality LED bulbs at discounted prices. In the Indian market, smart lighting has been a major trend in recent years. Voice commands or smartphone applications may be used to remotely operate smart lighting fixtures, giving consumers more customization and convenience. According to the research report, "India Lighting Fixtures Market Outlook, 2029," published by Bonafide Research, the India Lighting Fixtures market is anticipated to add to more than USD 1.15 Billion by 2024–29. Two key factors propelling the lighting fixtures market in India are the nation's rapidly increasing urbanisation and infrastructure development. The need for effective and visually beautiful lighting solutions in the residential, commercial, and industrial sectors is rising as metropolitan areas grow and modernize. Government programme supporting energy-efficient lighting technology, such LED lights, which lower power use and carbon footprints, are also driving this trend. The middle class's growing disposable money is fueling demand for high-end lighting fixtures and changing the nature of the industry by pushing goods towards more innovation and design.

Major challenges confront the market as well, chief among them being shifts in the cost of raw materials and interruptions in the supply chain. Pricing strategy and profitability for manufacturers are impacted by the cost and availability of goods such as plastics, metals, and electronic components. Operational constraints stem from regulatory uncertainty and compliance requirements connected to environmental norms and energy efficiency standards, which need constant adaptation and R&D investment for compatible goods. Pricing pressure from unorganised industries and lower-cost imports forces local firms to innovate and distinguish their products in order to stay in the market. The increasing use of smart lighting solutions made possible by IoT (Internet of Things) technology is one of the major trends in the Indian lighting fixtures industry. More features like energy management, remote operation, and connection with other smart home appliances make smart fixtures desirable to household and business users looking to cut costs and save time. Manufacturers are exploring recyclable materials and environmentally friendly production techniques as an outcome of the growing emphasis on sustainable practices and the ideas of the circular economy. This trend influences product development and marketing methods in the lighting business, in line with worldwide trends towards sustainable development goals. The industrial landscape in India's lighting fixtures market is significantly shaped by large companies. Major firms in the industry include Havells India Limited, Syska LED Lights Pvt. Ltd., Wipro Lighting, Philips Lighting India Limited (formerly Signify Innovations India Limited), and Bajaj Electricals Limited. Havells India compete with Signify Innovations (previously Philips Lighting), a company that makes innovative LED products, and is well-known for its wide range of lighting solutions for both homes and businesses. Wipro Lighting, which focuses on smart lighting technology, and Syska LED Lights, which is known for its energy-efficient solutions, both have a substantial share of the market. An established player, Bajaj Electricals maintains its competitiveness in the dynamic and cutthroat lighting fixtures market in India with its wide distribution network and broad product line. The market offers wall-mounted lights, portable lights, pendants & chandeliers, ceiling lights, and other varieties under the product type. Because of its practical lighting and visual attractiveness, pendant chandeliers and ceiling lights are especially well-liked in both business and residential settings. While portable lights provide greater flexibility in terms of application, wall-mounted lights are typically utilized for specific locations that require focused illumination. The market is divided into three categories for light sources: incandescent, fluorescent, and OLED/LED. Due to their lower pricing, extended longevity, and energy efficiency, LEDs are the industry leader and are widely used in both home and commercial applications. Although they are still in use, mostly in business settings, fluorescent lights are becoming less common as LED technology advances. Although incandescent lights provide a pleasant glow, quality, are being phased out because of their short lifespan and excessive energy use. These lighting systems are used in both the commercial and residential domains. LEDs are especially attractive since the commercial sector, which includes retail establishments, offices, and hotels, need high-efficiency lighting solutions that may save operating costs. In the home market, efficiency and aesthetics are prioritised, and smart lighting solutions are becoming more and more popular. In India, there are two types of lighting distribution channels: offline and online. Traditional retailers and wholesalers are examples of offline channels since they are well-established and trusted by their customers. But because of the ease of use of e-commerce platforms, the availability of a large selection of items, and reasonable price, the online channel is quickly gaining pace. In the market, ceiling lighting fixtures are the best. This is due to the growing need in both residential and commercial areas for lighting solutions that are both visually beautiful and energy-efficient. The market share that LED lighting holds makes it the most common source. Because LED technology is more affordable, more long-lasting, and more energy-efficient than more conventional lighting sources like incandescent and fluorescent lights, it is being adopted at a rapid pace. The primary market for lighting fixtures is the residential sector. Growing urbanisation, increased disposable incomes, and a growing need for contemporary, energy-efficient lighting options for houses are the main drivers of this industry's expansion. The market is dominated by offline distribution channels, such as wholesalers, lighting fixture experts, and direct sales. Because of the necessity for individualised customer care and the tactile character of lighting items, which customers like to touch before purchasing, offline channels continue to be strong despite the development of e-commerce. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Lighting fixtures market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

By Product • Ceiling • Pendant & Chandeliers • Wall Mounted • Portable • Others By Source • LED & OLED • Fluorescent • Incandescent By Application • Commercial • Residential By Distribution Channel • Offline • Online The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Lighting fixtures industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.