Project report for Compact Fluorescent Lamp

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Being widely used and easy available these LED lights are terribly used with poor products in India and in turns give poor results and hence the industry is looking at drastic changes in term of higher quality. But the biggest reason for CFL dominance is its wide acceptance by the residential segment. Today almost 60% of Indian households use CFLs, whether urban, semi-urban or rural. The government of India has been a big contributor to the phenomenal rise of CFL technology in India as it plans to gradually phase out the older FTL & ICL technologies. Increased penetration of LEDs led by government initiatives is one of the major drivers, especially in the public sector and industries. 

The fluorescent lamp is an electric lamp consisting of a glass tube, coated on the inside with a fluorescent substance that gives off light when acted upon by electricity. Fluorescent lamps and incandescent lamps are the two major sources of electric light today. However, fluorescent lamps produce 3.5 times as much light per watt, have much longer lives and often cost less than the corresponding models of incandescent lamps. Compact Fluorescent light bulbs, also known as CFLs, are an ecofriendly alternative to standard incandescent light bulbs. CFLs can be screwed into the same sockets as other light bulbs and provide very comparable lighting. CFLs are easily recognizable due to their distinct twisting shape. These green light bulbs have a host of benefits that can help improve the planet, our home and finances.

Market potential & Strategy

The global LED lighting market size was valued at INR 379400 Crores in 2020 and is expected to witness a compound annual growth rate (CAGR) of 12.5% from 2021 to 2028. Stringent regulations to ban or limit the use of inefficient lighting technologies and government rebate and retrofit programs to encourage the deployment of LED lighting are contributing to the market growth. LED lighting is comparatively expensive; however, it offers better service life and high lumen power at less wattage compared to incandescent, CFL, and halogen light sources. Moreover, continuously declining prices of LED lamps and luminaires and the availability of smart lighting solutions, coupled with updated energy policies across the world, are expected to provide an impetus for the market growth over the forecast period.

LEDs are highly efficient, reliable, and offer a longer life span, which is anticipated to boost their application in both indoor and outdoor settings. These lights are cost-effective compared to incandescent lights, delivering around 50,000 hours of illumination with a small amount of energy consumed. Low cost of operation and reduced heat losses also make them a suitable replacement for incandescent lights. Technological advancements, shift from conventional to green lighting, and enhanced energy-efficiency standards have also spurred the product demand.

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