Vietnam LED Lighting Market Size, Top Manufacturers, Regional Analysis, Trends and Forecast 2023-2028

According to IMARC Group's latest report, titled "𝗩𝗶𝗲𝘁𝗻𝗮𝗺 𝗟𝗘𝗗 𝗟𝗶𝗴𝗵𝘁𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁: 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗧𝗿𝗲𝗻𝗱𝘀, 𝗦𝗵𝗮𝗿𝗲, 𝗦𝗶𝘇𝗲, 𝗚𝗿𝗼𝘄𝘁𝗵, 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁 𝟮𝟬𝟮𝟯-𝟮𝟬𝟮𝟴", The Vietnam LED lighting market size reached US$ 647.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 982.8 Million by 2028, exhibiting a growth rate (CAGR) of 7% during 2023-2028.

Light Emitting Diodes (LEDs) are tiny light sources made of semiconductor materials that work by converting electrical energy into light. It involves depositing a layer of material, usually gallium nitride, onto a substrate. The substrate is patterned to create the LED structure, which is then connected to a power source to produce light. When compared to traditional lighting sources, LEDs offer numerous advantages, including energy efficiency, longevity, environmentally friendly, and the ability to be manufactured in a variety of shapes and sizes. Currently, high-power, low-power, surface-mount, and through-hole LEDs are some of the commonly available product variants.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐛𝐫𝐨𝐜𝐡𝐮𝐫𝐞: https://www.imarcgroup.com/vietnam-led-market/requestsample

𝐕𝐢𝐞𝐭𝐧𝐚𝐦 𝐋𝐄𝐃 𝐋𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

The LED lighting market in Vietnam is primarily driven by the rapid replacement of traditional incandescent bulbs with LED lights in street lighting. Additionally, the rising product application in commercial spaces, such as buildings, offices, supermarkets, and shopping malls, is contributing to the market growth. In line with this, the Government of Vietnam is actively working to promote the use of LED lighting and have introduced two major initiatives, the Vietnam Energy Efficient Public Lighting Project (VEEPL) and the Vietnam National Energy Efficiency Plan (VNEEP), aimed at reducing energy consumption and carbon emissions, which is creating a positive outlook for the market. Apart from this, rapid urbanization, growing foreign direct investments (FDI) in the real estate sector, and the increasing demand for energy-efficient and eco-friendly lighting solutions are accelerating the market growth in the country.

𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭 𝐍𝐨𝐰: https://www.imarcgroup.com/checkout?id=702&method=1

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
• Streetlight
• Down Light
• Flood Light
• Others

Breakup by Application:

• Commercial
• Residential
• Institutional
• Industrial

Breakup by Installation Type:

• New Installation
• Retrofit Installation

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝟏𝟎% 𝐟𝐫𝐞𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=702&flag=C

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• 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.

𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:

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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗨𝗦:

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This release was published on openPR.