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Vietnam LED Lighting Market: By Type: Panel Lights, Down Lights, Flood Lights, Street Lights, Bulb and Tube Light; By Installation Type; By End Use: Residential, Commercial, Industrial, Institutional, Others; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Vietnam LED Lighting Market Outlook

The Vietnam LED lighting market is being aided by the 35% per annum growth of the Vietnam LED lamp market. The Vietnam LED lighting industry is also being driven by the growth of the global LED lighting market, which reached a value of nearly USD 77.52 billion in 2020. The global LED lighting industry is projected to grow at a robust CAGR of 14% in the forecast period of 2022-2027.

 

Vietnam LED Lighting Market

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Rising Demand in the Residential Sector to Supplement the Market Growth of LED Lighting in Vietnam

The growing infrastructure sector in the country is anticipated to provide a push to the regional market. According to the Ministry of Planning and Investment of Vietnam, USD 150-160 billion was estimated to be invested in new infrastructure by 2020. The rising per capita income in Vietnam is expected to lead to an increasing demand for LED in the residential sector. Further, the market is witnessing an increasing demand from lighting projects for newly-built factories and other commercial infrastructure. The market share for traditional lighting industry in Vietnam is expected to decrease with the growth of the LED lighting industry. LED lighting technology is replacing incandescent bulbs for street lighting applications at a rapid rate. Initially, the technology in Vietnam was restricted in its utilisation to outdoor applications, finding uses in traffic lights and the advertisement industry. It has fast expanded to find applications in indoor settings, like in restaurants and hotels as interior and exterior decorations.

The thriving growth of commercial offices and a strong foreign investment in Vietnam is further expected to propel the industry forward. 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 lighting 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.

 

Market Segmentation

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 exceptionally versatile in their shape, form, and applications.

 

Vietnam LED Lighting Market By Type

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By type, the market can be divided into:

  • Panel Light
  • Down Light
  • Flood Light
  • Street Light
  • Bulb and Tube Light
  • Others

Based on installation type, the market can be segmented into:

  • New Installation
  • Retrofit Installation

On the basis of end use, the market can be categorised into:

  • Residential 
  • Commercial 
  • Industrial 
  • Institutional 
  • Others

 

Vietnam LED Lighting Market By Region

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Favourable Government Schemes Supporting the Use of Energy Efficient Lighting Solutions to Spearhead the Vietnam Market for LED Lighting

The 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. The government programs in the region are promoting the widespread adoption of LED lighting by aiding the local manufacturing of LEDs. 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 environmental issues, LED lighting has seen a rising demand due to their reduced energy consumption and decreased emissions of greenhouse gases, as compared to CFLs and High-Intensity Discharge (HID) lamps.

The thriving electronics industry is providing further impetus to the Vietnam LED Lighting industry. 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 regional LED lighting market. For now, the use of smart lighting is restricted to outdoor and high-end commercial lighting. In addition, the growing demand for LED solutions in the manufacturing of digital devices such as television, smartphones, digital cameras, and others, is anticipated to prove beneficial for the market growth in the coming years. The rising demand for digital devices, spurred by the growing disposable incomes and improved living standards of consumers, is anticipated to support the demand for LED solutions further. Furthermore, the growing research and development activities conducted by the market leaders in the development of smart lighting systems are anticipated to drive the Vietnam market for LEDs in the forecast period. For instance, in April 2022, Phenikaa Group introduced its new LED lighting technology, Phenikaa Natural TrueCircadian LED Lighting. This technology allows for the development of light sources that offer the closest light spectrum to natural sunlight, while also enhancing the biological spectrum regions for human eye absorption.

 

Key Players in the Vietnam LED Lighting Market Landscape

The report provides a detailed analysis of the following key players in the Vietnam LED lighting market, looking into their competitive landscape, capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and applications:

Regional Players:

  • Rang Dong Light Source and Vacuum Flask JSC (Ralaco) 
  • Dien Quang Light Source Company
  • Asled Co., Ltd
  • Others

Global Players:

  • Signify (Philips Lighting)
  • Osram Licht AG
  • Nichia Corporation
  • Cree Inc.
  • Seoul Semiconductor Co Ltd
  • Others

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.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Installation Type, End Use
Breakup by Type Panel Light, Down Light, Flood Light, Street Light, Bulb and Tube Light, Others
Breakup by Installation Type New Installation, Retrofit Installation
Breakup by End Use Residential, Commercial, Industrial, Institutional, Others
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Rang Dong Light Source and Vacuum Flask JSC (Ralaco), Dien Quang Light Source Company, Asled Co., Ltd, Signify NV (Philips Lighting), Osram Licht AG, Nichia Corporation, Cree Inc., Seoul Semiconductor Co Ltd, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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 (2017-2021) 
    8.3    Global LED Lighting Market Forecast (2022-2027)
    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 (2017-2021) 
    9.3    Vietnam LED Lighting Market Forecast (2022-2027)
    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 (2017-2021)
            9.4.1.3    Forecast Trend (2022-2027)
        9.4.2    Down Light
            9.4.2.1    Market Share
            9.4.2.2    Historical Trend (2017-2021)
            9.4.2.3    Forecast Trend (2022-2027)
        9.4.3    Flood Light
            9.4.3.1    Market Share
            9.4.3.2    Historical Trend (2017-2021)
            9.4.3.3    Forecast Trend (2022-2027)
        9.4.4    Street Light
            9.4.4.1    Market Share
            9.4.4.2    Historical Trend (2017-2021)
            9.4.4.3    Forecast Trend (2022-2027)
        9.4.5    Bulb and Tube Light
            9.4.5.1    Market Share
            9.4.5.2    Historical Trend (2017-2021)
            9.4.5.3    Forecast Trend (2022-2027)
        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 (2017-2021)
            9.5.1.3    Forecast Trend (2022-2027)
        9.5.2    Retrofit Installation
            9.5.2.1    Market Share
            9.5.2.2    Historical Trend (2017-2021)
            9.5.2.3    Forecast Trend (2022-2027)
    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 (2017-2021)
            9.6.1.3    Forecast Trend (2022-2027)
        9.6.2    Commercial
            9.6.2.1    Market Share
            9.6.2.2    Historical Trend (2017-2021)
            9.6.2.3    Forecast Trend (2022-2027)
        9.6.3    Industrial
            9.6.3.1    Market Share
            9.6.3.2    Historical Trend (2017-2021)
            9.6.3.3    Forecast Trend (2022-2027)
        9.6.4    Institutional
            9.6.4.1    Market Share
            9.6.4.2    Historical Trend (2017-2021)
            9.6.4.3    Forecast Trend (2022-2027)
        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, 2016 and 2026
2.    Global LED Lighting Historical Market: Breakup by Type (USD Million), 2017-2021
3.    Global LED Lighting Market Forecast: Breakup by Type (USD Million), 2022-2027
4.    Global LED Lighting Historical Market: Breakup by Region (USD Million), 2017-2021
5.    Global LED Lighting Market Forecast: Breakup by Region (USD Million), 2022-2027
6.    Vietnam LED Lighting Market: Key Industry Highlights, 2016 and 2026
7.    Vietnam LED Lighting Historical Market: Breakup by Type (USD Million), 2017-2021
8.    Vietnam LED Lighting Market Forecast: Breakup by Type (USD Million), 2022-2027
9.    Vietnam LED Lighting Historical Market: Breakup by Installation Type (USD Million), 2017-2021
10.    Vietnam LED Lighting Market Forecast: Breakup by Installation Type (USD Million), 2022-2027
11.    Vietnam LED Lighting Historical Market: Breakup by End Use (USD Million), 2017-2021
12.    Vietnam LED Lighting Market Forecast: Breakup by End Use (USD Million), 2022-2027
13.    Vietnam LED Lighting Market Structure

Key Questions Answered in the Report

The Vietnam LED lighting market is being driven by global LED lighting market, which reached a value of nearly USD 77.52 billion in 2020.

The LED lighting market in Vietnam is expected to be supported by the global industry, which will grow at a robust CAGR of 14% between 2022 and 2027.

The LED lighting market in Vietnam is anticipated to be driven by the global industry, which is expected to reach a value of about USD 149.26 billion by 2026.

The major drivers of the industry include the rising disposable incomes, increasing population, rising urbanisation, and the growing awareness among the consumers about the environment.

Government programs are seeking the greater adoption of LED lighting by aiding the local LED lighting products manufacturing. This is expected to be a key trend guiding the growth of the LED lights industry in Vietnam.

The leading types of LED lighting in the industry are panel lights, down lights, flood lights, street lights, and bulb and tube light, among others.

The significant installation types of LED lighting in the market are new installation and retrofit installation.

The major end use sectors in the industry are residential, commercial, industrial, and institutional, among others.

The leading players in the market are Rang Dong Light Source and Vacuum Flask JSC (Ralaco), Dien Quang Light Source Company, and Asled Co., Ltd, among others. The key players in the global industry include Signify (Philips Lighting), Osram Licht AG, Nichia Corporation, Cree Inc., and Seoul Semiconductor Co Ltd, among others.

Analyst Review

The Vietnam LED lighting market is being driven by the growth of the global LED lighting market which reached a value of nearly USD 77.52 billion in 2020. The global LED lighting industry is expected to grow at a CAGR of 14% in the forecast period of 2022-2027, attaining a value of USD 149.26 billion by 2026.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on types, the market can be segmented into panel lights, down lights, flood lights, street lights, and bulb and tube light, among others. By installation type, the market can be segmented into new installation and retrofit installation. On the basis of end use, the industry is divided into residential, commercial, industrial, and institutional, among others. The key players in the Vietnam LED lighting market include Rang Dong Light Source and Vacuum Flask JSC (Ralaco), Dien Quang Light Source Company, and Asled Co., Ltd, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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