Vietnam LED Light Market Key Insights:
The Vietnam LED Light Market is being aided by the 35% per annum growth of the Vietnam LED lamp market. The Vietnam LED light market is also being driven by the growth of the global LED lighting market which reached a value of nearly USD 60 billion in 2018. The global LED lighting industry will grow at a robust CAGR of 14% in the forecast period of 2019-2024, attaining a value of USD 132 billion in 2024.
The market share for traditional lighting market in Vietnam is expected to decrease with the growth of the LED lighting market. LED lighting technology is replacing incandescent bulbs for street lighting applications at a rapid rate. Initially, LED technology in Vietnam was restricted in its utilisation, finding uses in traffic lights and the advertisement industry. It has fast expanded to find applications in various sectors like in the restaurants and hotels as interior and exterior decorations.
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LED will witness a higher penetration in the Vietnam market due to growing urbanisation in the country which will range between 27-45% by 2020. The thriving growth of commercial offices and a strong foreign investment in Vietnam is further expected to aid the LED lighting market.
Currently, about 200 companies have registered their LED products in Vietnam and have been divided into three broad groups. The first group, which contains 3% of the companies holding 10-20% market share in the Vietnam LED light industry, have modern production lines, standard testing systems, and R&D centres. The second group comprises of foreign-invested enterprises whose selling prices are generally higher than the average prices by two to three times. Thirteen percent of the 200 companies are included in this second group, with their products holding a 15-20% market share. The third group dominates the market with 60-70% market share and comprises of 84% of the companies. These are the companies assembling their products from imported components, mostly from China.
LED: Properties and Applications
LED is a Light Emitting Diode where a semiconductor is used to produce light through the process of electroluminescence. LED lights are fast replacing traditional incandescent lights as they last longer, have a comparably cooler operating temperature, and are far more energy efficient. They are also far more versatile in its shapes, forms, and applications.
LED is used in multiple lighting products like:
LED lights find their primary application in the infrastructure sector in segments like:
The Vietnam LED Light Market is expected to be supported by the various schemes of the government of Vietnam, promoting the use of energy efficient lighting due to the rise in electricity prices, growing concerns over energy wastage and climate change. Government programs are seeking the greater adoption of LED lighting by aiding the local LED lighting products manufacturing. The move away from compact fluorescent lamps (CFLs) started in the early 2000s as the consumers in Vietnam moved towards LED lighting technologies. With growing awareness among the consumers about the environment, LED lighting has seen a rising demand due to their reduced energy consumption and emissions of greenhouse gases as compared to CFLs and High-Intensity Discharge (HID) lamps.
The rising per capita income in Vietnam is expected to lead to an increasing demand for LED in the country. The growing infrastructure sector in the country will provide a further push to the Vietnam LED market. According to the Ministry of Planning and Investment of Vietnam, USD 150-160 billion is expected to be invested in new infrastructure by 2020. The LED lighting industry in the region is, thus, witnessing an increasing demand from lighting projects for newly-built factories and other commercially built infrastructure.
The thriving electronics industry is providing further impetus to the Vietnam LED Light market. Vietnam is attracting international investors from electronics and home appliances sectors, especially from Korea, due to the lower land resources and labour force cost, growing infrastructure sector, rising economy, and political stability. The recently developed smart lighting system will also drive the LED market. For now, the use of smart lighting is restricted to outdoor and high-end commercial lighting.
The report provides a detailed analysis of the following key players in the Vietnam as well as global LED market, looking into their market share, capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and applications:
The EMR report gives an in-depth insight into the market by providing an analysis of the value chain and Porter’s five forces. It also provides a SWOT analysis of the market.
2 Research Methodology
3 Executive Summary
3.2 Key Demand Drivers
3.3 Key Players
3.4 Supply Market Changes
4 Global LED Light Market Overview
4.1 Chart: Breakup by Type
4.1.1 Panel Lights
4.2 Chart: Breakup by Application
4.3 Figure: Breakup by Region
4.3.1 North America
4.3.5 Middle East and Africa
4.4 Figure: Historical Market (2014-2018) & Forecast (2019-2024)
4.4.1 Panel Lights
5 Vietnam LED Light Market Overview
6 Vietnam LED Light Market
6.1 Vietnam LED Light Market Analysis
6.1.1 Chart: Breakup by Type
18.104.22.168 Panel Lights
6.1.2 Chart: Breakup by Application
6.1.3 Figure: Historical Demand (2014-2018) & Forecast (2019-2024)
22.214.171.124 Panel Lights
6.1.4 Figure: Historical Supply (2014-2018) & Forecast (2019-2024)
126.96.36.199 Panel Lights
6.1.5 Chart: Breakup by Type: Historical Market (2014-2018) & Forecast (2019-2024)
188.8.131.52 Panel Lights
6.1.6 Chart: Breakup by Application: Historical Market (2014-2018) & Forecast (2019-2024)
6.2 Comparison of LED’s with Conventional Lighting Technologies
6.3 SWOT Analysis
6.4 Value Chain Analysis
6.5 Porter’s Five Forces Analysis
6.5.2 Buyer’s Power
6.5.3 Supplier’s power
6.5.4 New Entrants
6.5.5 Degree of Rivalry
6.6 Vietnam LED Light Market Price Analysis
6.6.1 LED Panel Light Historical Price Trends (2014-2018) & Forecast (2019-2024)
6.6.2 Downlights Historical Price Trends (2014-2018) & Forecast (2019-2024)
6.6.3 Floodlights Historical Price Trends (2014-2018) & Forecast (2019-2024)
6.6.4 Streetlights Historical Price trends (2014-2018) & Forecast (2019-2024)
6.6.5 Tube lights Historical Price Trends (2014-2018) & Forecast (2019-2024)
6.6.6 Bulbs Historical Price Trends (2014-2018) & Forecast (2019-2024)
7 Manufacturing Process
7.1 Detailed Process Flow
7.2 Operations Involved
7.3 Mass Balance
8 Cost Analysis
8.1 Land, Location and Site Development
8.3 Plant Machinery
8.4 Cost of Raw Material
8.9 Other Capital Investment
9 Competitive Landscape & Supplier Analysis
9.1 Regional Players:
9.1.1 Rang Dong Light Source and Vacuum Flask JSC (Ralaco)
9.1.2 Dien Quang Light Source Company
9.1.3 Asled Co., Ltd
9.2 Global Players:
9.2.1 Signify (Philips Lighting)
9.2.2 Osram Licht AG
9.2.3 Nichia Corporation
9.2.4 Cree Inc.
9.2.5 Seoul Semiconductor Co Ltd
10 New Technology
11 Events and Developments
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