Fast development in Vietnam has resulted in the increase of per capita income in the country and higher demand for power for daily use. This has resulted in price hikes in electricity and LEDs based lighting products are now seen as suitable solution for reducing the electricity consumption at consumer end.
The government has been facilitating the growth of LED products market in the country, which has resulted in rapid growth in the LED products market in Vietnam. Looking at the fast paced growth in the country, many multinational companies have invested in Vietnam in the past 2-3 years for establishing their production facilities in the country.
LEDs market in Vietnam is expected to grow at a CAGR of 18.2% during the forecast period 2016-2022, to reach USD 729.0 million by 2022. The LEDs market in Vietnam has been analyzed based on major application areas-lighting, displays & backlights, mobile devices, signs & boards and others.
The application area of lighting has further been divided into sub-application areas of indoor lighting and outdoor lighting along with bifurcation into the products of bulbs, street lights, and spotlights. The LED lighting segment is expected to grow fastest among application areas for LEDs in Vietnam market.
The study covers and analyzes the Vietnam LEDs market, bringing out the complete key insights of the industry. The report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
Companies Covered:
New Light Led Technology LTD
Future Electronics LTD
OSRAM
PHILIPS
Green Power Kim Dinh
For more information on the research report, refer to below link:
Vietnam Light Emitting Diodes (LEDs) Market
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