Analysis of Vietnam’s LED Lighting Market

2018-03-26 16:00

As the growth of global LED lighting market slowed down,LED manufacturers have engaged in emerging markets to find a new blue ocean.According to the report of latest research shows that in 2015 the LED lighting market of Vietnam reached 271 million US dollars,It is estimated that it will reach 348 million US dollars in 2016, with a growth rate of 28%.market of Vietnam get the favor of the people of the LED lighting industry.

Observe the overall LED lighting market of Vietnam, Vietnam used to consume about 200 million traditional bulbs every year,which is mainly for power-consuming traditional tungsten light bulbs.With LED penetration rate’s improvement, traditional lighting market of Vietnam has continued to decline in the past few years,the LED lighting market is to maintain a rising trend,It is estimated that the penetration rate of LED lighting of Vietnam will reach about 35% in 2016.

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Because of the low period of base of  Vietnam’s LED lighting market,Therefore, the market size is growing faster than other countries of Southeast Asia.In recent years, with the improvement of Vietnam’s spending power,Its LED lighting market’s demand will also gradually turn to applications of home lighting from the current major engineering applications.

Under the condition of cheap labor’s cost in Vietnam, many foreign businessmen setted factories there,Therefore, LED lighting needs is from the new construction of LED lighting needs.In addition,Countries such as China, Japan and South Korea also conducted assistance of government ‘s development for Vietnam,Pulling needs of the LED outdoor lighting of the local infrastructure’s projects,However,due to the fact that the government and other engineering standards are mostly controlled by local people of Vietnam,and the foreign businessmen needs to combine local manufacture to get the chance to enter the market.

Due to that the Vietnam's per capita income is gradually growing,Its lighting market of LED home has also begun to flourish,therefore, for LED manufacturers, management of the local brand and construction of access will become the key to open up the market.