Domestic demand in Vietnamese market is soaring in 2016
Domestic demand in Vietnamese market is soaring in 2016.LED lighting market volume high up
to $3.48 US Dollar
News on Oct. 18, 2016. As for the slowing increase in LED lighting market, LED manufacturer is
looking for a new market. The report shows the market volume of Vietnam achieve $2.71 billion US
Dollar in 2015 and estimate will high up to $3.48 billion US Dollar in 2016. Annual growth of rate
as high reach as 28%. Vietnam market gets gradually the favor of LED lighting industry market gets
gradually the favor of LED lighting industry.
Observing the whole Vietnam LED lighting market, about 2,00 billion traditional bulbs imported
every years. And the traditional osram lamp is the main item. With the rate of penetration is
increasing, the traditional lighting market is recession but the LED market is still increasing. And we
estimate the rate of penetration can achieve 35% in 2016.
The professional researcher said with the development of consumptive power is increase in Vietnam, so ,the requirement of LED will from the project application to home lighting application.
The researcher believes that more and more foreign merchant invest and set up the branch in Vietnam cause by the favorable labor cost. In this case, more and more LED lighting will be require in the new project. Moreover, China, Japan and Korea will give assistance to the Vietnam government to enhance the requirement of LED outdoor lighting in the local base infrastructure.
And the researcher believes that the LED home lighting will development flourishing with the increasing GDP.