Top 10 Companies in the Indian LED Lighting Market

The Indian LED lighting market is projected to grow at a CAGR of 23.4% in the forecast period of 2024-2032. As per the analysis by Expert Market Research, the market is expected to be driven by the advantages offered by LED lights over conventional lights such as improved physical strength, smaller size, faster switching, high durability, and lower heat production.

Light-emitting diodes (LEDs), semiconductor devices emitting light through electrical current, represent a cutting-edge lighting solution, known as solid-state lighting. Offering advantages like energy efficiency, extended lifespan, and minimal power consumption, LEDs surpass traditional lighting options. Their semiconductor nature ensures durability, withstanding shock, vibration, and temperature changes. Furthermore, LEDs emit directional light, negating the need for additional accessories like reflectors or lenses, thereby providing precise illumination. With their prolonged lifespan, LED lights significantly reduce maintenance and replacement costs, making them a cost-effective and environmentally friendly choice.

The Indian LED lighting market growth is propelled by the myriad benefits of LED lights, including enhanced physical robustness, compact dimensions, rapid switching capabilities, exceptional longevity, and reduced heat generation.

The LED lighting market in India is witnessing expansive growth as LEDs find increasing applications in automotive headlamps, aviation, general lighting, advertising, medical devices, camera flashes, and traffic signals nationwide. Moreover, the presence of Chinese LED light manufacturers in India has facilitated the introduction of innovative products by domestic manufacturers.

In February 2024, the West Bengal government approved and allocated Rs 2.9 crore to the urban development department for the Kolkata Metropolitan Development Authority (KMDA) to transition from high-pressure sodium vapor lights to LED and repair faulty cable lines from Kamalgazi flyover to Padma Pukur More on Southern Bypass towards Baruipur.

Top 10 LED Lighting Companies in India:

Bajaj Electricals Limited

Bajaj Electricals Limited, part of the Bajaj Group, renowned for consumer appliances and lighting solutions, boasts a turnover of INR 5,429 crores (FY 22-23). Established in 1938, it upholds consumer trust for 85 years, offering modern, technologically advanced products. With key brands like BAJAJ, Nirlep, Morphy Richards, and Nex, it dominates the sector with 18 branch offices, 660+ distributors, and 2 lakh retail outlets across India. Emphasising sustainability, diversity, and community initiatives, Bajaj Electricals pioneers innovative LED lighting solutions and impactful CSR programs.

Havells India Ltd

Havells India Ltd. is a billion-dollar-plus organisation and a leading player in electrical and power distribution equipment manufacturing. With a diverse product portfolio covering industrial, domestic, and commercial needs, Havells owns prestigious brands like Havells, Lloyd, Crabtree, and Standard. It operates in over 50 countries with 94 branches and 15 state-of-the-art manufacturing units in India. Known for its market dominance and global presence, Havells specialises in circuit protection devices, cables, motors, fans, switches, home appliances, and more.

Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a prominent technology services and consulting company renowned for its innovative solutions catering to clients’ complex digital transformation needs. With a global presence spanning 65 countries and a workforce of nearly 245,000 employees, Wipro is committed to helping clients, colleagues, and communities thrive in an ever-evolving landscape. Emphasising sustainability and corporate citizenship, Wipro delivers comprehensive services in consulting, design, engineering, and operations, empowering businesses to achieve future-ready success.

Goldmedal Electricals Pvt. Ltd

Established in 1979, Goldmedal is a leading brand in India, dedicated to producing innovative electrical solutions that enhance the lives of consumers. With a focus on design and R&D, Goldmedal manufactures a wide range of high-quality products including modular wiring devices, LED lighting, MCBs, wires & cables, and home automation systems. Initially founded as a retailer, the company expanded its operations to include manufacturing facilities across India. With a strong distribution network spanning 22 states, Goldmedal continues to grow rapidly, projecting a CAGR of over 40% year on year.

Syska LED Lights Pvt Ltd

The SSK Group, known for excellence, presents Syska, a cutting-edge consumer electricals brand driven by technology and value. With a focus on innovation, Syska has become a leader in LED lighting technology in India, expanding into personal grooming, music accessories, and wearable technology. Renowned for reliability, Syska LED offers advanced lighting solutions across various sectors, prioritising energy efficiency and environmental responsibility. With over 75 locations in India, Syska is committed to delivering products that protect homes, save energy, and enhance lives.

Signify Holding

Signify is the global leader in terms of Internet of Things lighting as well as lighting for professionals and consumers. Its Interact linked lighting solutions and data-enabled services, along with its Philips products, improve living in residences, buildings, and public areas while delivering corporate value. The corporation made 7.5 billion euros in sales in 2022. Signify achieved carbon neutrality in its operations in 2020. Since their IPO, they have been included in the Dow Jones Sustainability World Index for six years running, and they were recognised as the Industry Leader in 2017, 2018, and 2019.

Crompton Lamps Ltd

Established in 1878 by Colonel Crompton, Crompton Lamps is among the world's oldest lamp companies. Initially focused on electric lighting installations for notable buildings like Windsor Castle, it later evolved into Crompton Parkinson, a leading manufacturer of industrial electrical products. After several ownership changes, including acquisition by Hawker Siddeley and later BTR, it became part of Cooper Lighting and Security Ltd. In 2006, Crompton Lamps was acquired by its management and relocated to Bradford, continuing its legacy in the lighting industry.

Finolex Cables Ltd

Established in 1956, Finolex, coined from "Fine" and "Flexibles", initially produced PVC insulated cables for automobiles. Transitioning to a limited company in 1972, it soared after a 1983 public offering, becoming India's leading cable manufacturer. Founded by Pralhad P Chhabria and Kishan P Chhabria, its early focus on copper cables expanded to PVC insulation. This strategic diversification exemplified their commitment to India's electrical market, propelling Finolex to unrivalled growth and dominance.

Corvi LED Pvt Ltd

Corvi LED, founded in 2012 with a commitment to efficiency, revolutionised the industry with groundbreaking innovations. Their products boast a lifetime warranty, ensuring quality across the range. Achieving an impressive 150 Lumens Per Watt, they lead in global efficiency standards. By eliminating the need for a heat sink and incorporating an inbuilt driver, Corvi prioritises consumer value. Their dedication to breaking barriers and introducing industry-first features like dimmability underscores their ethos of innovation and minimalistic design in crafting the brightest, lightest, and slimmest LED lights.

Halonix Technologies Private Limited

Halonix, a rapidly growing electrical company in India, offers innovative smart-tech solutions in lighting, fans, and safety products for both retail and institutional buyers. Pioneering energy-efficient lighting, it was the first to introduce CFLs and LEDs in India, now ranking among the top 5 lighting brands. With a focus on high-tech additions like speaker bulbs and IoT fans, Halonix continues to push boundaries. Their latest venture, Halonix Shield, delivers cutting-edge UVC sanitation solutions. Backed by ISO certifications and advanced manufacturing facilities, Halonix excels in meeting diverse consumer needs nationwide.