India: China's LED lamps are in high demand, and the lighting market still has room for improvement
2022-11-04
According to the "Hindustan Times" report, October 24th is Diwali in India, and Chinese lanterns in the Indian market are selling faster than local products. Despite the boycott of Chinese products on social media, demand for Chinese products in the Indian market does not appear to have been hit too hard.
Chinese LED lights popular are brighter than Indian lights。
According to reports, although many Indians inquire about the lanterns made in India, most of them still buy LED lights made in China because of the cheap price. The main reason is that the price of LED lights in India is almost double that of similar products in China. And the lights in China are brighter than those in India.
A local exporter of LED lighting in China said that although the festival is approaching, the company is still busy fulfilling product orders. The company has been working diligently to ensure merchandise arrives on time.
The exporter also said that the most popular items this year are LED lights for curtain decoration or LED lights designed in shapes such as flame lights.
While there are no existing statistics on how much Chinese-made Diwali-related goods have been delivered to India this year, it is possible to get an approximation of the likely size from strong orders from Chinese suppliers and strong Diwali-related consumer spending data in India.
According to a survey found. One-third of Indian households plan to spend about 10,000 Indian rupees (about 877.76 yuan) during the festival, and traffic in stores and markets will increase by 20%. Spending during the festive period in 2022 could reach $32 billion, with LED lights a must-have item for Diwali.
The Indian market has great potential, and the lighting market still has room for improvement
According to the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products, Chinese LED lights and corresponding products are becoming more and more popular among Indian consumers. In the first half of 2022, China exported $710 million worth of LED light-related products to India, a year-on-year increase of 27.3% and a substantial increase of 135.3% over the same period in 2020.
As the second most populous country in the world, India's economic growth rate and market size should not be underestimated. In recent years, with the increasing attention of the Indian government and the public to energy conservation and emission reduction, traditional incandescent lamps have been gradually eliminated from the market, and the LED lighting industry has developed a strong momentum. According to relevant reports, in terms of market size, in 2016, the LED lighting market in India reached about 1.15 billion US dollars, and it has grown to more than 4 billion US dollars in 2020, but the LED lighting market in the entire Indian lighting industry accounts for It is not high, less than 20%, and there is still huge room for improvement in the future.
While the Indian government has spared no effort in seeking to decouple from China, following in the footsteps of the United States and trying to replace Chinese products with Indian products, little progress has been made.
China has a very mature industrial chain, and has formed an industrial agglomeration economic effect that reduces the operating costs of enterprises and improves labor productivity. Therefore, a large number of high-quality and low-cost products can be produced in a short period of time. The LED lighting market in India is now in a growth stage, and the local supply chain is not complete. Although India has a certain number of assembling, designing and manufacturing LED lighting companies, all LED chips and LED packaging rely on imports. Some large-scale LED lighting companies directly import finished products from China, or purchase semi-finished products from China and assemble them by themselves. Therefore, Chinese LED lighting products will occupy more market share in India in the future.
Source: China Lighting Network
Chinese LED lights popular are brighter than Indian lights。
According to reports, although many Indians inquire about the lanterns made in India, most of them still buy LED lights made in China because of the cheap price. The main reason is that the price of LED lights in India is almost double that of similar products in China. And the lights in China are brighter than those in India.
A local exporter of LED lighting in China said that although the festival is approaching, the company is still busy fulfilling product orders. The company has been working diligently to ensure merchandise arrives on time.
The exporter also said that the most popular items this year are LED lights for curtain decoration or LED lights designed in shapes such as flame lights.
While there are no existing statistics on how much Chinese-made Diwali-related goods have been delivered to India this year, it is possible to get an approximation of the likely size from strong orders from Chinese suppliers and strong Diwali-related consumer spending data in India.
According to a survey found. One-third of Indian households plan to spend about 10,000 Indian rupees (about 877.76 yuan) during the festival, and traffic in stores and markets will increase by 20%. Spending during the festive period in 2022 could reach $32 billion, with LED lights a must-have item for Diwali.
The Indian market has great potential, and the lighting market still has room for improvement
According to the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products, Chinese LED lights and corresponding products are becoming more and more popular among Indian consumers. In the first half of 2022, China exported $710 million worth of LED light-related products to India, a year-on-year increase of 27.3% and a substantial increase of 135.3% over the same period in 2020.
As the second most populous country in the world, India's economic growth rate and market size should not be underestimated. In recent years, with the increasing attention of the Indian government and the public to energy conservation and emission reduction, traditional incandescent lamps have been gradually eliminated from the market, and the LED lighting industry has developed a strong momentum. According to relevant reports, in terms of market size, in 2016, the LED lighting market in India reached about 1.15 billion US dollars, and it has grown to more than 4 billion US dollars in 2020, but the LED lighting market in the entire Indian lighting industry accounts for It is not high, less than 20%, and there is still huge room for improvement in the future.
While the Indian government has spared no effort in seeking to decouple from China, following in the footsteps of the United States and trying to replace Chinese products with Indian products, little progress has been made.
China has a very mature industrial chain, and has formed an industrial agglomeration economic effect that reduces the operating costs of enterprises and improves labor productivity. Therefore, a large number of high-quality and low-cost products can be produced in a short period of time. The LED lighting market in India is now in a growth stage, and the local supply chain is not complete. Although India has a certain number of assembling, designing and manufacturing LED lighting companies, all LED chips and LED packaging rely on imports. Some large-scale LED lighting companies directly import finished products from China, or purchase semi-finished products from China and assemble them by themselves. Therefore, Chinese LED lighting products will occupy more market share in India in the future.
Source: China Lighting Network
