
Vietnam LED Lighting Market Report and Forecast 2024-2032
Description
Vietnam LED Lighting Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the Vietnam LED lighting market attained a value of USD 677.66 million in 2023. Aided by the robust growth in infrastructure development, a surge in consumer awareness regarding energy efficiency, and the Vietnamese government's strategic initiatives, the market is projected to further grow at a CAGR of 6.8% between 2024 and 2032 attaining a value of USD 1225.04 million by 2032.
As per the Vietnam LED lighting market analysis, Light Emitting Diodes (LEDs) have gained prominence in the country’s illumination industry, transforming how spaces, both residential and commercial, are lit. LEDs are known for their durability, energy efficiency, and decreased carbon footprint compared to traditional lighting solutions. Their versatile applications encompass everything from streetlights, home lighting, to industrial settings, and even intricate architectural lighting designs.
Vietnam, with its rapidly urbanising landscape and escalating emphasis on sustainable solutions, has witnessed a robust shift from conventional incandescent and fluorescent lights to LEDs. This transition is not merely driven by consumer preferences but is also a part of a broader framework of energy conservation and sustainable urban development, championed by the Vietnamese government.
The increased knowledge among Vietnamese consumers concerning the benefits of LED – primarily its longer lifespan, reduced electricity bills, and the positive environmental impact – has fostered the Vietnam LED lighting market growth. Concurrently, the global inclination towards sustainability has also permeated Vietnam, making LEDs, which use up to 80% less energy than traditional lighting, a preferred choice.
Industrial applications of LED lighting in Vietnam also underscore the market's potential. As Vietnam solidifies its position as a global manufacturing hub, the need for energy-efficient industrial lighting solutions becomes paramount. LEDs, with their durability and performance in varied conditions, prove to be an ideal choice for manufacturing units, warehouses, and assembly lines.
In addition, the Vietnamese government’s proactive stance on promoting LED lighting augments the market growth. Initiatives like tax reductions, subsidies for LED manufacturing, and public awareness campaigns highlighting the benefits of LEDs are instrumental in boosting Vietnam LED lighting market demand. Moreover, replacing conventional streetlights with LEDs in major cities is not just an infrastructural upgrade but also a testament to the government's commitment to sustainable development.
The tourism sector, a significant contributor to Vietnam's economy, also indirectly bolsters the LED market. As the country experiences a surge in tourist influx, there is a growing demand for aesthetic and energy-efficient lighting solutions in hotels, resorts, and public spaces, with LEDs fitting the bill perfectly.
Market Segmentation
The market can be divided based on type, installation type, and end use.
Market Breakup by Type
- Panel Light
- Down Light
- Flood Light
- Street Light
- Bulb and Tube Light
- Others
- New Installation
- Retrofit Installation
- Residential
- Commercial
- Industrial
- Institutional
- Others
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Vietnam LED lighting market. Some of the major players explored in the report by Expert Market Research are as follows:
- Rang Dong Light Source and Vacuum Flask JSC (Ralaco)
- Dien Quang Light Source Company
- Asled Co., Ltd
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
133 Pages
- 1 Preface
- 2 Report Coverage – Key Segmentation and Scope
- 3 Report Description
- 3.1 Market Definition and Outlook
- 3.2 Properties and Applications
- 3.3 Market Analysis
- 3.4 Key Players
- 4 Key Assumptions
- 5 Executive Summary
- 5.1 Overview
- 5.2 Key Drivers
- 5.3 Key Developments
- 5.4 Competitive Structure
- 5.5 Key Industrial Trends
- 6 Snapshot
- 6.1 Global
- 6.2 Vietnam
- 7 Industry Opportunities and Challenges
- 8 Global LED Lighting Market Overview
- 8.1 Key Industry Highlights
- 8.2 Global LED Lighting Historical Market (2018-2023)
- 8.3 Global LED Lighting Market Forecast (2024-2032)
- 8.4 Global LED Lighting Market by Type
- 8.5 Global LED Lighting Market by Region
- 8.5.1 Market Share
- 8.5.1.1 North America
- 8.5.1.2 Europe
- 8.5.1.3 Asia Pacific
- 8.5.1.4 Latin America
- 8.5.1.5 Middle East and Africa
- 9 Vietnam LED Lighting Market Analysis
- 9.1 Key Industry Highlights
- 9.2 Vietnam LED Lighting Historical Market (2018-2023)
- 9.3 Vietnam LED Lighting Market Forecast (2024-2032)
- 9.4 Vietnam LED Lighting Market by Type
- 9.4.1 Panel Light
- 9.4.1.1 Market Share
- 9.4.1.2 Historical Trend (2018-2023)
- 9.4.1.3 Forecast Trend (2024-2032)
- 9.4.2 Down Light
- 9.4.2.1 Market Share
- 9.4.2.2 Historical Trend (2018-2023)
- 9.4.2.3 Forecast Trend (2024-2032)
- 9.4.3 Flood Light
- 9.4.3.1 Market Share
- 9.4.3.2 Historical Trend (2018-2023)
- 9.4.3.3 Forecast Trend (2024-2032)
- 9.4.4 Street Light
- 9.4.4.1 Market Share
- 9.4.4.2 Historical Trend (2018-2023)
- 9.4.4.3 Forecast Trend (2024-2032)
- 9.4.5 Bulb and Tube Light
- 9.4.5.1 Market Share
- 9.4.5.2 Historical Trend (2018-2023)
- 9.4.5.3 Forecast Trend (2024-2032)
- 9.4.6 Others
- 9.5 Vietnam LED Lighting Market by Installation Type
- 9.5.1 New Installation
- 9.5.1.1 Market Share
- 9.5.1.2 Historical Trend (2018-2023)
- 9.5.1.3 Forecast Trend (2024-2032)
- 9.5.2 Retrofit Installation
- 9.5.2.1 Market Share
- 9.5.2.2 Historical Trend (2018-2023)
- 9.5.2.3 Forecast Trend (2024-2032)
- 9.6 Vietnam LED Lighting Market by End Use
- 9.6.1 Residential
- 9.6.1.1 Market Share
- 9.6.1.2 Historical Trend (2018-2023)
- 9.6.1.3 Forecast Trend (2024-2032)
- 9.6.2 Commercial
- 9.6.2.1 Market Share
- 9.6.2.2 Historical Trend (2018-2023)
- 9.6.2.3 Forecast Trend (2024-2032)
- 9.6.3 Industrial
- 9.6.3.1 Market Share
- 9.6.3.2 Historical Trend (2018-2023)
- 9.6.3.3 Forecast Trend (2024-2032)
- 9.6.4 Institutional
- 9.6.4.1 Market Share
- 9.6.4.2 Historical Trend (2018-2023)
- 9.6.4.3 Forecast Trend (2024-2032)
- 9.6.5 Others
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyers Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators for Demand
- 10.4 Key Indicators for Price
- 11 Value Chain Analysis
- 12 Price Analysis
- 13 Manufacturing Process (SMD LED, Module, Fixture)
- 13.1 Product Overview
- 13.2 Detailed Process Flow
- 13.3 Various Types of Unit Operations Involved
- 13.4 Mass Balance and Raw Material Requirements
- 14 Project Requirement and Cost Analysis
- 14.1 Land, Location and Site Development
- 14.2 Construction
- 14.3 Plant Machinery
- 14.4 Raw Material
- 14.5 Packaging
- 14.6 Transportation
- 14.7 Utilities
- 14.8 Manpower
- 14.9 Other Capital Investment
- 15 Loans and Financial Assistance
- 16 Project Economics
- 16.1 Capital Cost of the Project
- 16.2 Techno-Economic Parameters
- 16.3 Product Pricing and Margins
- 16.4 Taxation and Depreciation
- 16.5 Income Projections
- 16.6 Expenditure Projections
- 16.7 Financial Analysis
- 16.8 Profit Analysis
- 17 Competitive Landscape
- 17.1 Market Structure
- 17.2 Company Profiles
- 17.3 Regional Key Players
- 17.3.1 Rang Dong Light Source and Vacuum Flask JSC (Ralaco)
- 17.3.1.1 Company Overview
- 17.3.1.2 Product Portfolio
- 17.3.1.3 Demographic Reach and Achievements
- 17.3.1.4 Certifications
- 17.3.2 Dien Quang Light Source Company
- 17.3.2.1 Company Overview
- 17.3.2.2 Product Portfolio
- 17.3.2.3 Demographic Reach and Achievements
- 17.3.2.4 Certifications
- 17.3.3 Asled Co., Ltd
- 17.3.3.1 Company Overview
- 17.3.3.2 Product Portfolio
- 17.3.3.3 Demographic Reach and Achievements
- 17.3.3.4 Certifications
- 17.3.4 Others
- 17.4 Global Key Players
- 17.4.1 Signify NV (Philips Lighting)
- 17.4.1.1 Company Overview
- 17.4.1.2 Product Portfolio
- 17.4.1.3 Demographic Reach and Achievements
- 17.4.1.4 Certifications
- 17.4.2 Osram Licht AG
- 17.4.2.1 Company Overview
- 17.4.2.2 Product Portfolio
- 17.4.2.3 Demographic Reach and Achievements
- 17.4.2.4 Certifications
- 17.4.3 Nichia Corporation
- 17.4.3.1 Company Overview
- 17.4.3.2 Product Portfolio
- 17.4.3.3 Demographic Reach and Achievements
- 17.4.3.4 Certifications
- 17.4.4 Cree Inc.
- 17.4.4.1 Company Overview
- 17.4.4.2 Product Portfolio
- 17.4.4.3 Demographic Reach and Achievements
- 17.4.4.4 Certifications
- 17.4.5 Seoul Semiconductor Co Ltd
- 17.4.5.1 Company Overview
- 17.4.5.2 Product Portfolio
- 17.4.5.3 Demographic Reach and Achievements
- 17.4.5.4 Certifications
- 17.4.6 Others
- 18 New Technologies
- 19 Industry Events and Developments
- List of Key Figures and Tables
- 1. Global LED Lighting Market: Key Industry Highlights, 2018 and 2032
- 2. Global LED Lighting Historical Market: Breakup by Type (USD Million), 2018-2023
- 3. Global LED Lighting Market Forecast: Breakup by Type (USD Million), 2024-2032
- 4. Global LED Lighting Historical Market: Breakup by Region (USD Million), 2018-2023
- 5. Global LED Lighting Market Forecast: Breakup by Region (USD Million), 2024-2032
- 6. Vietnam LED Lighting Market: Key Industry Highlights, 2018 and 2032
- 7. Vietnam LED Lighting Historical Market: Breakup by Type (USD Million), 2018-2023
- 8. Vietnam LED Lighting Market Forecast: Breakup by Type (USD Million), 2024-2032
- 9. Vietnam LED Lighting Historical Market: Breakup by Installation Type (USD Million), 2018-2023
- 10. Vietnam LED Lighting Market Forecast: Breakup by Installation Type (USD Million), 2024-2032
- 11. Vietnam LED Lighting Historical Market: Breakup by End Use (USD Million), 2018-2023
- 12. Vietnam LED Lighting Market Forecast: Breakup by End Use (USD Million), 2024-2032
- 13. Vietnam LED Lighting Market Structure
Pricing
Currency Rates
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