Project report for LED Light manufacturing industry

Over the last few years, LED lights have established themselves as an important lighting source. They have quickly gained popularity in the Indian lighting industry due to their various advantages over traditional lighting technologies. While the Indian LED lighting industry is still in its infancy, it has enormous potential for growth over the next few decades. India is one of the largest lighting markets in the world, making it a profitable location for LED manufactures to set up shop. A sustainable environment for the LED industry is provided by skilled labour, ease of doing business, and demographic advantages.In only a few years, the LED has surpassed all other artificial light sources, including incandescent bulbs, compact fluorescent lamps, fluorescent lamps, high-pressure sodium lamps, and metal halide lamps, in almost all lighting applications, including residential, commercial, offices, retail, hospitality, industries, roads, and now even sports lighting. We've had a seismic shift that has made all previous infrastructure redundant.

A growing number of government energy saving policies, the market awareness of energy-efficient goods, and creative products delivered by the industry that are in line with the overall trend of digitisation are driving this transformation. This progression reflects a technological change from electrical to mechanical. As a result, businesses that provide electronic hardware/components and solutions for LED lighting could see a substantial increase in business. Prototype makers, electronics manufacturing services (EMS) suppliers, and original equipment manufacturers will all benefit from the switch to LEDs (OEMs). LED lighting can open up a world of possibilities, not just in terms of lowering energy demand, but also in terms of improving the overall lighting experience in terms of power, monitoring/sensing, and accessibility, as well as the ease of longer life and better aesthetics which in turn will boost the LED lights manufacturing industry. 

Due to the urbanisation trends and an increased number of government policies encouraging the use of LED lamps, the market for LED lighting systems is currently concentrated mainly in the North and South regions. The government's support for energy efficient lighting technology by numerous policies has extended the applications of LED lights through various manufacturing, commercial, and residential sectors.In 2020, the Indian LED Lighting industry was worth $3.58 billion.While the Indian LED lighting industry is still in its infancy, it has enormous potential for growth over the next few decades. India is one of the largest lighting markets in the world, making it a profitable region for LED manufactures to set up LED manufacturing industry.

The LED lighting demand in India has exploded in recent years as a result of the country's rising population and resulting urbanisation. In 2018, India's electricity consumption increased by 4%, outpacing the global demand by 2.3 percent. If the rate of energy usage rises, so does the need for an environmentally sustainable and cost-effective lighting solution. As a result, LED lighting has begun to infiltrate India's conventional general lighting industry in recent years.

During the period 2019-25, the India LED Lighting Market is expected to expand at a CAGR of 23.6 percent. Several government programmes, such as Unnat Jyoti through Affordable LEDs for All (UJALA) and the Street Lighting National Programme (SLNP), remained the primary demand generators for LED lighting in India. The aim of such campaigns is to raise customer awareness about the benefits of LED bulbs over traditional lighting sources including incandescent bulbs, CFLs, and halogen lamps. For example, the government plans to replace over 1.34 crore traditional street lights in India under the SLNP, with about 1.04 crore already replaced as of November 2019 making it a safe area of investment due to it being a field, full of potential.