Benefited from economic take-off, Vietnam LED lighting market output exceeded 5 billion 600 million in 2020.

With Vietnam's GDP rising year by year and its demographic dividend, it is at the stage of economic take-off, and it also drives the LED lighting market in Vietnam. According to the Vietnam Lighting Association data, the output value of Vietnam's LED lighting market will reach US $854 million in the next three years (equivalent to RMB 5 billion 655 million yuan), with an annual growth rate of 25%.

The LED lighting market is becoming more and more saturated in European and American countries. There are many suppliers in China and fierce competition in price. The LED lighting market in emerging markets such as India, Southeast Asia, South America and the Middle East is just around the corner.

In Southeast Asian countries, Vietnam shows a bright eye. LEDinside's Southeast Asia lighting market report shows that in 2016, Vietnam's lighting market reached 348 million US dollars and its penetration rate exceeded 40%, and its estimated penetration to 2018 could reach 51%.

Tran Dinh Bac, vice chairman and Secretary General of the Vietnam chamber of Commerce and industry, pointed out that the current electricity consumption accounts for about 35% of Vietnam's national electricity consumption. If LED light bulbs are used to replace 50% of the lighting fixtures, it will save 20 billion 800 million kWh (kWh / hour) by 2020 and reduce about 9 million tons of carbon dioxide emissions.

At present, Vietnam LED manufacturers still take PHILPS, OSRAM and other foreign factories as the largest, followed by Vietnam's domestic Dien Quang, Rang Dong, Duhal and so on. However, Vietnam's Dachang focuses on downstream assembly and lacks the overall industrial chain. Therefore, the overall industrial chain of LED still has great room for development.

There are about 200 LED manufacturers in Vietnam, but there are still many uneven LED lighting products in Vietnam's lighting market. The problem is due to its lack of consistent product specifications and monitoring by relevant departments.

Tran believes that Vietnam should learn from other countries and establish a set of LED product standards that conform to ASEAN and other developed countries. Besides, the government should also strengthen supervision to ensure that enterprises have transparent and open competitive environment.

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