LED Lighting Market In Vietnam Is Growing

<< Go Back Posted By:administrator on Jul 14,2017in Industry News

Light emitting diodes (LEDs) are semiconductors which emit and produce light when activated. They are considered as better alternative to other sources of light due to the benefits of LEDs. LEDs consume energy more efficiently as they are directional light sources that emit light in a specific direction compared to traditional lights.

They are the best choice for use in rough conditions because of their strength and durability. Moreover, LEDs are eco-friendly as they do not contain harmful chemicals like mercury and release less heat.

Some of the other strengths include high luminous, good colour rendering,longer lifetime,and small size. In Vietnam, LEDs were initially applied in advertising industry as well as traffic lights. However, with the increasing awareness about their advantages, they are now being used in a variety of sectors like commercial lighting street lighting, and residential lighting, etc. The Vietnam LED lighting market reached a value of US$ 152 Million in 2016 and is further expected to reach US$ 384 Million by 2022, as a new report by Expert Market Research.

In Vietnam, the production of LED lighting has witnessed a significant growth during the year 2009-2016. All this owe to a number of factors. With rising expenses on the generation of electricity and the increasing environmental consciousness,the Vietnamese government is encouraging to shift to the energy-efficient lights.

The rising use of LEDs in high-tech products such as digital camera, smart phones, automobiles,and television have also leading to up-going demand for LEDs in Vietnam. Further more,  rising population,urbanization,infrastructural development and increasing disposable incomes can be some of the other factors that have further improved the market growth.

Source: Global LEDs/OLED, Vietnam LED Lighting Market to Reach US$ 384 Million by 2022, June, 2017