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Vietnam LED Lighting Market Top Companies Share, Size, Analysis by Application, Product Type and Forecast 2023-2028

03-29-2023 06:42 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Vietnam LED Lighting Market Top Companies Share, Size, Analysis

According to IMARC Group's latest report, titled "๐•๐ข๐ž๐ญ๐ง๐š๐ฆ ๐‹๐„๐ƒ ๐‹๐ข๐ ๐ก๐ญ๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ: ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐“๐ซ๐ž๐ง๐๐ฌ, ๐’๐ก๐š๐ซ๐ž, ๐’๐ข๐ณ๐ž, ๐†๐ซ๐จ๐ฐ๐ญ๐ก, ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐š๐ง๐ ๐…๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ‘-๐Ÿ๐ŸŽ๐Ÿ๐Ÿ–โ€ณ, 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 semiconductors that produce a non-coherent spectrum of light with the transmission of electricity. It consists of a special type of diode that blocks the current in the reverse direction and enables the flow of current in the forward direction, enabling LEDs to consume less energy and produce high brightness without flickering. When compared with traditional lighting systems, such as incandescent or fluorescent lights, a well-designed LED lighting system offers several advantages, including improved efficiency, durability, versatility, smaller size, long-lasting, and power-saving. In Vietnam, LED lights are witnessing a significant surge in demand in umpteen applications, such as replacing street lights with LED and outdoor and indoor settings of residential and commercial areas.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐Ÿ๐ซ๐ž๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐›๐ซ๐จ๐œ๐ก๐ฎ๐ซ๐ž: https://www.imarcgroup.com/vietnam-led-market/requestsample

Vietnam LED Lighting Market Trends:

The increasing awareness regarding the benefits of the product and reducing prices of LED lights are some of the key factors primarily driving the market growth. This is further supported by the rising product demand in industrial lighting, street lighting, and residential lighting applications due to its several advantages. Furthermore, the Politics of Vietnam is undertaking various projects, such as Vietnam National Energy Efficiency Planโ€ฏ(VNEEP) and Vietnam Energy Efficient Public Lighting Project (VEEPL), to promote the use of LED lighting, which is acting as another factor boosting the market growth. Apart from this, rapid urbanization, ongoing infrastructural developments in the nation, and the burgeoning consumer per capita income are fueling the market growth.

๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.imarcgroup.com/request?type=report&id=702&flag=F

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:

โ€ข Bulb and Tube Light
โ€ข Panel Light
โ€ข Streetlight
โ€ข Down Light
โ€ข Flood Light
โ€ข Others

Breakup by Application:

โ€ข Commercial
โ€ข Residential
โ€ข Institutional
โ€ข Industrial

Breakup by Installation Type:

โ€ข New Installation
โ€ข Retrofit Installation

๐€๐ฌ๐ค ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ญ ๐Ÿ๐จ๐ซ ๐Ÿ๐ŸŽ% ๐Ÿ๐ซ๐ž๐ž ๐œ๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐ž๐ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ: 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:

โ€ข Market Performance (2017-2022)
โ€ข Market Outlook (2023-2028)
โ€ข Market Trends
โ€ข Market Drivers and Success Factors
โ€ข Impact of COVID-19
โ€ข Value Chain Analysis
โ€ข 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.

๐—”๐—ฏ๐—ผ๐˜‚๐˜ ๐—จ๐˜€:

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.

๐—–๐—ผ๐—ป๐˜๐—ฎ๐—ฐ๐˜ ๐—จ๐—ฆ:

IMARC Group

134 N 4th St Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

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