BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
India lighting market, ~Rs 212 billion in size, is largely dominated by the organised sector (~65% share). We believe organised players such as Bajaj Electricals Ltd. and Crompton Greaves Consumer Electricals Ltd. would likely be the net beneficiaries of a further share shift away from the unorganised segment.
LED lighting is a high growth sub-category which alone is expected to reach Rs 259 billion by FY23 (86% of overall lighting market).
Energy efficiency and longer life of LED lights make them competitive against conventional lighting. Phillips India Ltd. dominates the lighting market with a pie close to 14%.
Bajaj Electricals and Crompton Greaves have market share of 10% and 9%, respectively.
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