Benefited from the economic take-off, Vietnam's LED lighting market was over 5 billion 600 million in 2020

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

LED lighting market is becoming more and more saturated in European and American countries, and there are many Chinese market suppliers and competitive prices. The LED lighting market in emerging markets, such as India, Southeast Asia, South America and the Middle East, is just around the corner.

In South East Asian countries, Vietnam showed bright eyes, LEDinside's Southeast Asian lighting market report showed that the 2016 Vietnam lighting market was $348 million, the permeability was over 40%, and the estimated penetration rate could reach 51% in 2018.

Tran Dinh Bac, vice chairman and Secretary General of the Vietnam Federation of industry and commerce, points out that the current lighting power accounts for about 35% of the country's national electricity consumption. If you can use LED bulbs instead of 50% lighting, the 20 billion 800 million kWh (kilowatt / hour) can be saved by 2020, and about 9 million tons of carbon dioxide emissions will be reduced.

At present, LED manufacturers in Vietnam still take the largest foreign companies such as PHILPS and OSRAM, followed by Dien Quang, Rang Dong, Duhal and so on. However, the big factories in Vietnam focus on the downstream assembly and lack the overall industrial chain, so the LED whole industry chain still has a lot of space for development.

There are a total of about 200 LED manufacturers in Vietnam, but there are still many uneven LED lighting products in the Vietnam lighting market. The problem is that they lack the uniform standard of product specifications and the monitoring of relevant departments.

Tran believes that Vietnam should learn from other countries to establish a LED product standard that is in line with the ASEAN and other developed countries; and the government should also strengthen supervision to ensure a transparent and open competitive environment for the enterprises.

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