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Vietnam's LED lighting market has an output value of over 5.6 billion in 2020

source:[Gravimetric blender]   release time:2021-04-23 09:03:12

With Vietnam's GDP rising year by year and demographic dividend, it is at the stage of economic take-off, which also drives the LED lighting market in Vietnam. According to data from the Vietnam Lighting Association, the output value of the LED lighting market in Vietnam will reach US$854 million (equivalent to RMB 5.655 billion) in the next three years, with an annual growth rate of 25%.

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

   Vietnam has performed well among Southeast Asian countries. LEDinside's Southeast Asia lighting market report shows that in 2016, the Vietnam lighting market reached 348 million U.S. dollars, with a penetration rate of more than 40%, and the penetration rate is estimated to reach 51% by 2018.

Tran Dinh Bac, vice chairman and secretary general of the Vietnam Chamber of Commerce and Industry, pointed out that lighting electricity currently accounts for about 35% of Vietnam’s electricity consumption. If LED bulbs can be used to replace 50% of lighting fixtures, 20.8 billion will be saved by 2020 kWh (kilowatt per hour), approximately 9 million tons of carbon dioxide emissions will be reduced.

   At present, the largest LED manufacturers in Vietnam are Philips, Osram and other foreign manufacturers, followed by the domestic manufacturers Dien Quang, Rang Dong, Duhal, etc. However, large factories in Vietnam mainly focus on downstream assembly and lack the overall industrial chain. Therefore, the overall LED industrial chain still has a lot of room for development.

   There are about 200 domestic LED manufacturers in Vietnam. However, there are still many uneven LED lighting products in the Vietnamese lighting market. The problem lies in the lack of consistent product specifications and monitoring by related departments.

  Tran believes that Vietnam should learn from other countries and establish a set of LED product standards that comply with the ASEAN and other developed countries; in addition, the government should also strengthen supervision to ensure that companies have a transparent and open competitive environment.[Gravimetric blender]