According to the latest 2017 lighting market report of LEDinside, the green energy business division of TrendForce, Vietnam is the 14th most populous country in the world and an emerging market. Its GDP has been rising every year. In recent years, the GDP growth rate has almost exceeded 6%. The opportunity of LED lighting in Vietnam is not only in the take-off stage of the economy, but also due to the rising power consumption, which makes Vietnam's LED business opportunities not to be underestimated. LEDinside estimates that the LED lighting market will reach $420 million in 2017, with an annual growth rate of 20.6 percent. In addition, the smart lighting market in Vietnam started late and is only used in outdoor and high-end commercial lighting places. In 2017, the smart lighting market was about 18 million us dollars, and by 2020, the smart lighting market in Vietnam will exceed 60 million us dollars.

Analysis of the overall economic situation

Vietnam is the 14th most populous country in the world and an emerging market. Its GDP has been rising every year. In recent years, the GDP growth rate has almost exceeded 6%. The opportunity of LED lighting in Vietnam is not only in the take-off stage of the economy, but also due to the rising power consumption, which makes Vietnam's LED business opportunities not to be underestimated.

Infrastructure development

With the influx of foreign direct investment, the establishment of industrial zones has become an important means of attracting foreign direct investment in Vietnam. Vietnam is striving to modernize industrial productivity. One of its strategies is to develop multiple industrial zones to promote industrial investment. At present, there are 328 industrial zones in Vietnam, and the occupancy rate of operating industrial zones is nearly 73%.

Lighting market size and operation analysis

Vietnam's traditional lighting market has been declining in the past few years, while the LED lighting market has been rising. It is expected that the LED lighting market will reach 420 million us dollars in 2017. In terms of product type, due to relatively basic lighting demand, the LED lighting market in Vietnam is currently the most widely used alternative light source products, such as bulbs, tubes and spotlights, accounting for about 78% in 2017. In the past two years, due to the rise of local production and the booming industry, Vietnamese manufacturers began to import parts from China and assemble them themselves to save costs, leading to a year-on-year decline in imports from China. Vietnam's lighting market is moving away from its high dependence on imported products to a healthier shape. But at the same time, the competitiveness of China's LED lighting OEM has been negatively affected.

Vietnam smart lighting market started late, currently only a small number of applications in outdoor and high-end commercial lighting places. The smart lighting market in 2017 was estimated at $18 million. By 2020, the smart lighting market in Vietnam will exceed us $60 million.

Lighting manufacturer introduction and strategy analysis

The industrial chain structure of lighting import in Vietnam can be divided into five categories: foreign manufacturers provide components for local lighting factories, imported components + local assembly, imported lighting products + local assembly, foreign OEM factories directly deliver ODM to various countries, and foreign manufacturers sell their own brands through engineering or wholesale channels. In general, due to the lack of local manufacturing capacity, international manufacturers such as philips and osram still had the highest market share in Vietnam, followed by local big manufacturers such as Rang Dong and Dien Quang.

Introduction to lighting exhibition

Leading local exhibitions including LEDTEC ASIA and Vietnam professional acousto-optic exhibition. Due to the size, LED related manufacturers can participate in LEDTEC ASIA, and those who want to specialize in stage lights, stage equipment, or display equipment can participate in Vietnam professional acousto-optic exhibition.