Vietnam LED lighting market development status

According to the Southeast Asian lighting market report, in recent years, LED lighting industry, Europe and the United States and other mature market saturation gradually increased, the Chinese market is fierce price competition, many suppliers. So Southeast Asia, South America, the Middle East and other emerging markets are becoming a number of manufacturers actively layout of the Nuggets. Which the Vietnamese market because of low labor costs, attracting a lot of foreign-funded enterprises set up factories, coupled with the per capita income grew year by year, have the opportunity to drive the local LED lighting market demand. Industry statistics analysis pointed out that in several major Southeast Asian countries, the Vietnamese LED lighting market share growth rate of the fastest, 2013 - 2015 are maintained more than 60% year on year growth rate. To 2016, LED lighting market reached 348 million US dollars, the penetration rate of more than 40%.

Vietnam LED lighting market development status

In the past, in the era of traditional lighting, Vietnam consumed about 200 million traditional light bulbs each year, mainly in the traditional power consumption of the traditional tungsten bulb-based. In recent years, the Vietnamese traditional lighting market continued to decline, while the LED lighting market has always maintained a rising trend. Taking into account the government subsidies and market demand brought about by the growth momentum, LED lighting penetration rate is expected to further increase. By 2018, the penetration rate is expected to reach 51%.

As the world's 14th most populous country, Vietnam has a population of 94 million. The current total population, half of the 30 years of age, 60% of the working age. Human resources are abundant and labor costs are relatively low in Asian countries. Vietnam can use land area of ??about 34.777 million hectares, 2011-2015 development and use of 30.998 million hectares, of which 130,000 hectares of industrial land, industrial land rental price of about 30-100 US dollars / square meter / year. In addition, the Government has been committed to strengthening social and political stability, revitalize the economy and investment boom, increase efforts to develop infrastructure. According to the Vietnamese Ministry of Planning and Investment is expected by 2020, Vietnam will need to invest 1500 to 160 billion US dollars in infrastructure construction.

Low land, labor costs and infrastructure and the rapid economic and economic development, making Vietnam has been successful in attracting new investment in electronic products and electrical products. Especially the Korean manufacturers, have set up production lines in Vietnam, trying to make full use of local resources. Samsung has invested in Vietnam to set up production bases and R & D centers for mobile phones, batteries, electronic components, displays, household appliances and other products, with a total investment of more than 12 billion US dollars. Currently 50% of Samsung phones are produced in Vietnam. LG is also investing $ 3 billion in Vietnam for the production of OLED display modules as well as mobile phones, televisions and other household appliances. In addition, Seoul Semiconductor and Lumens invested $ 300 million and $ 20 million respectively for Vietnamese production.

LED lighting manufacturers in the part of the Vietnamese market is currently the main local lighting manufacturers and European and American manufacturers dominated. Vietnam's well-known local lighting companies are DienQuang, RangDong, Duhal, foreign investors are Philips, Cara, Eurolight and other enterprises. Nevertheless, due to local manufacturers are mainly concentrated in the field of downstream lighting assembly, the industrial chain is missing, the overall industry chain is still a large space for development. However, the Vietnamese lighting market is mainly project-based, mostly from the new plant LED lighting needs, or part of the government standard case. So most of the need to cooperate with the local Vietnamese lighting manufacturers, or in the local assembly factory is likely to get the standard case.

Overall, as a fast-growing emerging market, Vietnam in the overall economy, infrastructure, resources and other aspects of the positive factors are to promote LED lighting business investment and development of the local market. In addition, the Vietnamese people's spending power gradually grow, following the past China, Thailand, Vietnam's domestic market began to flourish. In the early stages of the business, the company can promote the product through the appropriate agents, and then through the government to create local brand awareness, or through mergers and acquisitions way to win the local access channels, thus expanding the local domestic market, the successful layout.

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