India Lighting Fixture Market Forecast & Opportunities, 2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-17 04:20:03
The real estate and infrastructure developments in India have recorded a growth of over 10% during the last five years on the backdrop of increasing residential and commercial projects across various tier 1 and tier 2 cities. With the growing middle income population and large government investments in rural electrification programs such as RGGVY (Rajeev Gandhi Grameen Vidyutikaran Yojana) and R-APDRP (Restructured Accelerated Power Development and Reforms Programme) are expected to drive the lighting fixtures market in India.
The electricity penetration was recorded around 60% in 2012 which is considered extremely low when compared with other emerging economies or developed nations. This low penetration along with rising per capita income is generating huge demand for lighting fixtures industry in India.
The lighting fixture market in India is expected to grow at the CAGR of 17% during 2013-2018. The market for lighting fixtures in India is witnessing an influx of energy efficient products such as green lighting luminaries. The increasing focus towards energy efficiency is pushing the demand for energy efficient lighting across the country. The increasing emphasis towards solar lighting, particularly for outdoor lighting purposes is also contributing to the market growth.
The market for lighting fixture products in India is driven by the construction and infrastructure market. In addition, rising disposable income of the middle income population and increasing number of high earning income group will drive the market for high end designer lighting fixtures. Industry players are witnessing high volume sales of designer lighting fixtures from urban households and are constantly focussing on development and introduction of newer variants of consumer, outdoor and decorative lighting fixtures. Lighting fixture companies operating in India are also planning to introduce low priced designer lighting fixtures to target the middle income population group.
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