By BizLED Bureau
October 9, 2015: As Vietnam continues to develop, it offers a large potential market for LED lighting. Many new satellites areas are coming up, calling for the development of commercial areas, residential housing, hospitals, schools, retail, etc. These new construction projects offer immense business opportunities for LED multinational manufacturers, as demand for LED lighting and clean energy lighting system is rapidly growing.
According to a recent estimate, LED lighting markets of the six major Southeast Asian countries?Singapore, Malaysia, Thailand, Vietnam, Philippines and Indonesia had a combined value of US$1.1 billion in 2014.
Vietnam has seen significant growth in the LED market in the last few years and the rate of replacement of traditional lighting with LED lighting has also gone up. The government is also clearing ambitious infrastructure projects that will give rise to huge LED lighting demands.
Due to the high energy consumption level in the country, Vietnam has implemented Energy Efficient Public Lighting Project (VEEPL), which will help reduce energy consumption by replacing the existing lighting system with LED lighting. It is projected that by 2015, Vietnam will complete the replacement of high pressure sodium vapor streetlights and all indoor T8 and T5 light tubes with energy saving LED lights. Vietnam Energy Efficiency and Conservation Program (VNEEP) also aims at increasing energy efficiency and reducing energy consumption by implementing varied procedures.
The Vietnamese government has also launched a US$ 90 billion urban upgrading project, aiming at 70% of urbanization by 2020. The urban upgrade project will further boost Vietnam’s architectural lighting market, especially residential lighting, commercial lighting, hotel lighting, resort, entertainment and infrastructure lighting.
China’s LED lighting exports to Vietnam has also increased and reached US$ 73.7 million, which is 1,424% year-on-year growth (YoY) in 1Q15. China?s exportation to Vietnam is more than one-third of the total south Asian market by June 2015. (Source: LEDinside)
Rapid urbanization and economic growth in Vietnam is boosting demand for LED lighting products. Large amount of indoor and outdoor LED lighting projects are also the reason for this boost.
In 2014, stage lights topped Vietnam?s China-imported luminaires at 87.7%. LED ceiling lights occupied the second place at 5.8% and LED down lights took third place at 3.5%. The high percentage of entertainment lighting imported also backed the development of entertainment in the past two years. (Source: LEDinside)