Analysis of Vietnam LED light market

Analysis of Vietnam LED light market

  LED industry has gained a rapid development in the past decade. And to date ‘slowdown’ is a key word to describe current LED industry across the globe. In order to get more industry shares, a number of LED manufacturers are racing to emerging market for new opportunities.

  Vietnam had a marketing size over 271 million dollars in 2016, and it is estimated that it will grow to 348 million dollars, up 28% compared to last year, According to the newest report. This growing prospect made Vietnam market gain popularity around the world.

  Over the past few years, Vietnam consumes 200 million traditional bulbs every year, most of which are the traditional filament bulbs. With the high-speed development of LED industry, traditional lighting products in the market are on the fall recent years, while the LED products become the star over the last years. It is estimated that LED products take up 35% market shares in 2017.

  Market growing speed is faster than any other countries in Southeast Asia as the LED lighting market base is far less than any countries. And with the economy grows, the need of LED products grows very fast in Asia. Thanks to the low human resource cost, many investors flooded into Vietnam LED market and built many factories depending on local low labor cost.

  With the per capita income grows dramatically, residential lighting is also becoming flourishing. Thus, it is a key point for LED manufacturers to build their brands for bigger market.



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