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Vietnam Lighting Market Become the Spotlight in Emerging Countries

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According to the latest report from LEDinside, a division of the market research firm TrendForce, 2017 Vietnam Lighting Market Report, Vietnam is the world's 14th-most-populous country as well as emerging market, and its GDP has climbed in recent years, with annual growth more than 6%, its economic take-off attracts huge foreign investment, so it is believed that Vietnam market will be booming soon. In view of the opportunities to popularize LED lighting in Vietnam, the increase in electricity consumption also provides great opportunities for LED business in Vietnam besides its economic take-off.


Therefore, LED inside estimated that the led market scale in 2017 in Vietnam reached USD 420 million at the annual growth rate of 20.6%. Furthermore, the smart lighting developed late in Vietnam, and which is only adopted in the outdoor and high-end commercial lighting places at present. The Vietnam smart lighting market is expected to reach about USD 18 million in 2017, will exceed USD 60 million by 2020. LEDinside has made the summaries on each chapter of the report to show the whole picture of Vietnam lighting market.


Vietnam is the world's 14th-most-populous country as well as emerging market, and its GDP has climbed in recent years, with annual growth more than 6%, its economic take-off attracts huge foreign investment, so it is believed that Vietnam market will be booming soon. In view of the opportunities to popularize LED lighting in Vietnam, the increase in electricity consumption also provides great opportunities for LED business in Vietnam besides its economic take-off.


As foreign direct investment continually flows into Vietnam, the establishment of industrial zone has become an important means of attracting foreign direct investment in Vietnam, Vietnam is now working to modernize industrial productivity, one of its strategies is to develop multiple industrial zones, in order to promote industrial investment. At present, Vietnam has a total of 328 industrial zones, and the industrial zones put in operation achieve occupancy rate of nearly 73%.


Over the past few years, Vietnam traditional lighting market experienced continuing decline while its LED lighting market kept on going up. It’s estimated that its LED lighting market scale can reach USD 420 million in 2017. From the perspective of product types, since the lighting demand in Vietnam is still in basic stage, products like LED bulb, tube and spotlight were applied most so far. In 2017, replacement lamp occupies 78% of the total market share. In recent two years, due to the rise of local production and the industrial booming, Vietnam manufacturers started to import components from China and assemble by themselves in order to save cost, which led to an annual decline of Chinese import scale. Vietnam lighting market has gradually rid high dependency on imported products and changed into a healthier development mode. Meanwhile, it had certain negative effects on the competitiveness of Chinese LED lighting OEM manufacturers.


The smart lighting developed late in Vietnam, and which is only adopted in the outdoor and high-end commercial lighting places at present. The Vietnam smart lighting market is expected to reach about USD 18 million in 2017, will exceed USD 60 million by 2020.

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