Press release
Vietnam LED Lighting Market Size, Growth, Demand, Regional Analysis and Forecast 2023-2028
Report Highlights:
How big is the Vietnam LED lighting market?
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.
What is LED lighting?
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.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐จ๐ซ ๐ ๐๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ: 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.
Key Market Segmentation:
The report has segmented the Vietnam LED lighting market on the basis of product type, application, installation type and region.
๐๐ก๐๐๐ค๐จ๐ฎ๐ญ ๐๐จ๐ฐ: https://www.imarcgroup.com/checkout?id=702&method=7
Breakup by Product Type:
โข Bulb and Tube Light
โข Panel Light
โข Streetlight
โข Down Light
โข Flood Light
โข Others
Breakup by Application:
โข Commercial
โข Residential
โข Institutional
โข Industrial
Breakup by Installation Type:
โข New Installation
โข Retrofit Installation
๐๐ฌ๐ค ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐จ๐ซ ๐๐% ๐๐ซ๐๐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/request?type=report&id=702&flag=C
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
๐๐ฏ๐ผ๐๐ ๐จ๐:
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.
๐๐ผ๐ป๐๐ฎ๐ฐ๐ ๐จ๐ฆ:
IMARC Group
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Email: sales@imarcgroup.com
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