SAN ANTONIO, Texas, Jan. 23, 2013 (GLOBE NEWSWIRE) -- Rising energy costs and conservation initiatives have been the key factors driving the growth of the lighting controls market in India. The Indian market is estimated to be well over $300 million for 2011. This figure includes lighting controls, devices, systems and gears. The market is expected to show a double digit CAGR through the forecast period.
Government initiatives and mandatory energy codes are further driving the market. For example, the development of the Energy Conservation Building Codes (ECBC) for new commercial buildings and energy audits in existing buildings will put 75% of new commercial buildings into compliance, while 20% of existing buildings will see a significant reduction in electricity consumption.
Standard interfacing protocols will also foster convergences in the marketplace and increase the overall market size in India. Open protocols, such as KNX, enable lighting control integration within the building automation system. Similarly, the Digital Addressable Lighting Interface (DALI) protocol enables digital lighting networks to be constructed with facility interoperability.
South India maintains the largest percentage of the overall lighting control and systems market. The commercial segment maintains the higher opportunity for devices.
The key participants in the lighting control devices market include Schneider Electric, ABB, Lutron Electronis Co. Inc, Koninklijke Philips Electronics N.V.-(Dynalite), Legrand, Crestron Electronics Inc, Honeywell International Inc., Havells and Theben AG. The major companies in the lighting control gears market include Koninklijke Philips Electronics N.V (Dynalite), Crompton Greaves Limited, Bajaj Electricals Ltd, Surya Roshini Limited, Wipro Limited, Osram GmbH, Tridonic GmbH & Co KG, Intelux Electronics Pvt. Ltd and General Electric.
This study captures market size estimates for lighting control devices and gears. It provides market drivers, restraints, end user trends, market share analysis, distribution trends and quotes captured by key industry participants during the research process. The base year of the study is 2011 and revenue forecasts are provided up to 2018. A copy of the Indian Lighting Control and Systems market research report can be obtained at www.verifymarkets.com.
The Verify Markets logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13505