India Now - page 33

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FEBRUARY-MARCH 2015
O
n December 20, 2013,
the 68th session of the
UN General Assembly
had declared that the
world would celebrate
2015 as the International Year of Light
and Light-based Technologies (IYL
2015). The importance of light in our
daily lives cannot be overemphasised. It
is vital and crucial to human endeavour
and cutting across the disciplines of
science, has contributed to sustainable
living solutions and solving of global
challenges. Light science and its appli-
cations and light technologies have
touched and revolutionised almost
every field of science—from medicine
to communication via the internet. It
is central to forging links between the
global society, cutting across cultural,
political and economic diversities. The
year will be used as unique opportunity
to raise global awareness through IYL
2015 programmes of the UN.
India is uniquely poised to tap the
opportunities in IYL 2015 backed by
innovation, government initiatives and
market sentiment. Aniket Pargaonkar,
Project Manager, ValueNotes, a com-
pany specialising in management of
competitive and market intelligence,
information and research, summarises
India’s edge saying, “The Indian light-
ing industry is at par with global com-
petition when it comes to technology
and innovation.” Most major players in
the lighting industry in India, includ-
ing Phillips India, Havells and Cromp-
ton Greaves are backed by strong R&D,
with their technology centres continu-
ously engaged in developing “more and
more energy efficient lighting technolo-
gies at affordable prices”. India is glob-
ally recognised as one of the cheapest
R&D destinations in the world with a
highly talented resource pool and Par-
gaonkar points to the growing number
of R&D bases being set up by a large
number of MNCs in the lighting space
in the country. For instance, in 2008,
Philips inaugurated a global R&D cen-
tre for lighting in India. This was its
third such unit in the world. The facil-
ity, situated in Noida, not only caters
to the needs of the Indian market but
also to the Asia Pacific, European and
North American markets. Philips’ other
R&D centres are located at Eindhoven
in the Netherlands and in Shanghai,
China. Notably, in 2014, the LED light-
ing division of the company witnessed
a growth of 48 per cent year on year
and its synergistic ties with ABB are
expected to increase its stake further.
Synchronised Show
Growing at a CAGR of ~ 16 per cent
till 2020, the Indian lighting industry
is forecast to reach
`
367 billion by that
year. Currently, the industry in India is
valued at around
`
152 billion. Shyam
Sujan, Secretary General, Electric
Lamp & Component Manufacturers’
Association of India (ELCOMA), calls
the Indian lighting industry “proactive”
in its outlook and in its endeavour to
manufacture all lighting products with-
in the country. The lighting industry in
the country is dominated by organised
players, who command an estimated
60–70 per cent of the market with a
portfolio of high quality products and
strong distribution channels. Key play-
ers in the list include Philips, Surya
Roshni, Bajaj Electricals, Crompton
Greaves, Osram, Havells, Wipro, Halo-
nix, GE, Anchor, Indo Asian, HPL, Ori-
ent, Eveready, SYSKA, Oreva and Moser
Baer. The last four along with Havells,
PHOTO BY ISTOCKPHOTO.COM
CAGR of 16%
400
350
300
250
200
150
100
50
0
Market size
of the Indian
lighting industry
In
`
bn (YR 2010 to YR 2020)
YR 2010 YR 2011 YR 2012 YR 2013 YR 2014 YR 2015 YR 2016 YR 2017 YR 2018 YR 2019
101
117
135
152
178
208
241
280
322
367
81
Source: ELCOMA, ValueNotes Research, McKinsey Report
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