Press release
Vietnam LED Lighting Market Size, Top Manufacturers, Trends and Forecast 2022-2027
A light emitting diode (LED) is a semiconductor device that emits non-coherent and narrow-spectrum light when an electric current is passed through it. LED lights offer various advantages over conventional lights, such as fast switching, longer lifespan, improved physical robustness, low heat output, and minimum radiation emissions. In addition, they are environment friendly and consume less energy. Owing to these properties, LED lighting solutions have gained immense popularity in Vietnam.
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Vietnam LED Lighting Market Trends:
The market is primarily driven by the increasing usage of LED lightings in various sectors. For instance, LED bulbs are rapidly replacing incandescent bulbs in street lighting across Vietnam. Besides this, the increasing demand for LED lights in commercial spaces, such as buildings, offices, supermarkets, and shopping malls, is also contributing to the market growth. Moreover, the Government of Vietnam is encouraging citizens to adopt LED lighting through two major projects, namely, Vietnam Energy Efficient Public Lighting Project (VEEPL) and Vietnam National Energy Efficiency Plan (VNEEP), which aim to reduce energy consumption and carbon footprints. Furthermore, the rapid urbanization and increasing influx of Foreign Direct Investments (FDI) is supporting the real estate sector in the country, which, in turn, is strengthening the growth of the Vietnam LED lighting market.
Key Market Segmentation:
The report has segmented the Vietnam LED lighting market on the basis of product type, application, installation type and region.
Breakup by Product Type:
• Bulb and Tube Light
• Panel Light
• Street Light
• Down Light
• Flood Light
• Others
Breakup by Application:
• Commercial
• Residential
• Institutional
• Industrial
Breakup by Installation Type:
• New Installation
• Retrofit Installation
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Browse Related Reports:
Led Street Light Market: https://bit.ly/3LpYjIx
US Led Downlight Market: https://bit.ly/3RZzUMi
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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