NEW DELHI: Reflecting increased use of energy efficient equipment, the market for LED lights is projected to be worth Rs 350 crore in the coming years, says a report.
"LED lamps sales have already crossed Rs 100 crore in 2012-2013 and the market is likely to grow to around Rs 350 crore in 2015-2016," according to electrical products' market research firm Market Pulse.
This market is dominated by LED down-lighters,panel lights, tube lamps and spot lights.
As per the report, retail stores followed by hospitality sector are the main customer segments for LED lights.
Light Emitting Diode (LED) technology helps in reducing energy consumption.
