By Mr. Puneet Shukla, CEO, Saison Components & Solutions
The LED market in India has been constantly growing over almost 50% for the last five years and is expected to sustain this growth rate in the coming five years as well. Although late, the government of India has announced a lot of incentives and measures in order to prioritize LED manufacturing in the country.
LED lighting market in India is projected to register a CAGR of over 30%, during 2016-2021, on account of rising personal disposable income, growing government initiatives encouraging use of LED lights and increasing focus on smart city projects. For instance, Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) announced plans to develop 7 smart cities in Gujarat, Haryana, Maharashtra, Rajasthan, Uttar Pradesh and Madhya Pradesh in the near future. These projects are expected to further increase government emphasis on energy efficient lighting products such as LEDs in the coming years. Favorable government initiatives and policies such as state specific and national level programs that offer LED lighting products at subsidized rates is contributing in a huge way towards boosting LED adoption in the country. Additionally, with increasing consumer awareness, demand for LED lights from the residential as well as commercial sectors in the country is growing at a fast pace. Rising adoption of LED lighting in the residential sector can be attributed to low power consumption and long product lifecycle of these lighting solutions.
Furthermore, applications of LED are increasing day by day and thus are the quantities, and the above figures say it all.
LED application trends in Automotive
The global automotive lighting market is estimated to grow at a CAGR of 7.95% from 2015 to 2020.
Increasing vehicle sales and production and technological advancements triggered by growing safety concerns and stringent lighting regulations are the key drivers of the automotive lighting market.
Asia is estimated to be the largest consumer of automotive lighting in the world. China, India, Japan, and South-Korea are the main contributors to the automotive lighting market in the continent. Owing to the increasing sales of premium vehicles, low manufacturing costs, and favourable government policies, several automotive companies are expanding their facilities in Asia-Oceania.
The global automotive lighting market size, in terms of value, is estimated to be $20.1 Billion in 2015. Emerging countries such as China and India are witnessing high growth during the forecast period.
The Automotive Lighting Market is projected to reach $29.5 Billion by 2020 from $20.1 Billion in 2015.
LED light sources are replacing all other types of automotive lights. They are available for high and low beam headlamps, rear combination lamps, brake lights, turn signals, interior reading lights (map lights), daytime running lamps (DRLs), dome lights, fog lamps, accent lights, centre high-mount stop lamps, position and marker lamps, etc. They are also replacing other conventional lights for ambient lighting, dashboard and cabin, etc.
In fact, the market for LED lighting for vehicles is increasing as the consumers have recognized their benefits, including the fact that the colour of LEDs is very similar to daylight. Besides the fact that it enhances safety and comfort on the road, LED lights offer many other advantages.
Saison Product Innovations
Saison works as authorised representative of foreign OEM’s in India and help them in getting business from the Indian market.
One of the focussed segments of Saison in coming years is the lighting industry. Already working with big names such as Philips, Havells, Syska, Bajaj and many more for electronic components such as inductors, MOV’s, resistors, capacitors etc., Saison focuses to cater maximum lighting manufacturers in the coming years.
We worked on the root cause of high valued LED products which is the inside component cost and are thus offering lowest price quality product.
Our high quality products such as Electrolytic Capacitor, Ceramic capacitor, Diodes, resistors, Varistors, MOSFET, COB, SMD LED etc are quite cost competitive.
The innovation would be the LED SOLAR SYSTEM, which is eco-friendly and has a boundless energy source with features such as smart dimming control system which also reduces CO2 emissions.
This would be a great combination of technology and naturally available power and would be an economically feasible use of environmental friendly green energy.
